My Finance Blog

CASE STUDY: Meet Lynne and Ron

In life, we take lessons from every story we’re told. Every book we read, every song we hear and every movie we watch. They all hold some truth we can relate to. We relate them to, not only ourselves, but also the people we meet and the journeys they take in life.

Meet Lynne and Ron

Let me introduce you to my two clients. Lynne is 59 and her husband, Ron, is 61.  Both came to us seeking guidance and some very clear direction (can't we all relate to this one - and not just for our finances). They wanted to know how best to meet their retirement financial goals.   

Both had completed their due diligence and were now looking for advice from financial planners at a selection of financial planning companies. However, each time they met with financial planners, they were told the same thing: ‘Keep doing what you are doing’. While that was reassuring to Lynne and Ron, they had hoped for more. They needed real advice focused on processes and planning to help them better address their financial futures. 

Many clients come to us seeking hoping we will finally be the ones to provide the answers they’ve been searching for. Our first goal was to provide irrefutable proof that we were the right company to keep Lynne and Ron’s hope alive. 

Do you remember the fantastic movie, The Shawshank Redemption*? 

Enter Andy Dufrense, an inmate of the Shawshank Prison, convicted for the murder of his wife and her secret lover. He is isolated and lonely at first and allows himself to be used, slipping deeper into the binds of the prison monopoly. Yet soon he realises there is something deep down inside you that no one else can touch – hope.
It is this hope that drives him throughout the film, landing him a binding friendship with the prison ‘fixer’, Red, and a means to escape – the light at the end of the tunnel. Andy’s journey in Shawshank epitomises why it is crucial to have dreams and aspirations. His spirit and determination helps us imagine a world where we can experience that same courage and desire that drives him to freedom.

What they were looking for

When I spoke to Lynne and Ron at their home, they told me they wanted a coach. They wanted a plan. And they wanted an outcome.

For us, working with Lynne and Ron wasn’t about focusing on the investments they already had, but more about offering advice, to help them progress to the next stage of their life. 

During our time with Lynne and Ron, we could tell they are good hard-working people, seeking a meaningful story with unadorned truth and compelling drama that holds a mirror to their life.  They wanted help with their ultimate financial journey: Lynne and Ron's Journey.

Lynne is a great organiser but she needed help planning the next step. This is where we were able to step in as we could show them what the next step will look like. Their great love for property meant they already had an extensive property portfolio, but they weren’t sure which direction to take towards their retirement. Moreover, the interruption of health concerns meant that Lynne would have to retire earlier than they first thought.

The process we took

We worked with them to identify what expenses they may have ahead, when they may need their funds and what type of legacy they wished to leave. We gathered detailed assets and liabilities and the intricate details of their short, medium and long-term goals in retirement.

From this point we were able to map out a retirement plan using graphs, which Lynne and Ron could easily understand. This process was about exploring their options. For example, keeping their property portfolio compared to what retirement would look like if they were to sell their properties.

The end result

In The Shawshank Redemption, just as Andy was able to emerge from the prison with a new sense of direction, Lynne was now able to escape from the stress her upcoming retirement was impressing upon and become someone who trusted where they were going and how they could get there. 

I remember Ron mentioning, after one of our meetings, that Lynne used to spend her nights worrying about their issues regarding retirement. Now, he said, they were both able to sleep easily knowing that we had given them peace of mind about their future plans. 

Just like Andy in The Shawshank Redemption, Lynne and Ron are now ‘getting busy living’ and are finally able to enjoy their steps towards retirement, with a comprehensive plan to get them there. 

We at Comprehensive Financial Solutions believe in the message from Lynne and Ron’s journey to financial freedom – hope is what drives us to take action and make incredible changes in our lives. 

This has been Lynne and Ron's story – how can we help change yours? 

* Note: Just a few ethical notes on the film…

We would like to point out that the methods that Andy Dufrense uses to escape from prison are highly illegal, and not condoned by Comprehensive Financial Services. However, the message of escaping confinement to emerge with a newfound lease on life is one many people can relate to, which is what we aim to connect with in this case study.

Robert Majman

Financial Planner

Robert Majman is a Financial Planner at Comprehensive Financial Solutions. He is a authorised representative of AMP Financial Planning and is authorised to provide credit advice regarding how to structure debt, suitability of existing loan structures and repayment options.

Any advice in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters.

Comprehensive Financial Solutions Pty Ltd ABN 42 086 989 639 as Trustee of the The Mobbs Family Trust is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited