Our Clients

Rich River Wealth

Our passion is improving the lives of our valued clients through Financial Planning. We aim to under promise and over deliver by providing quality service and to use our specialist knowledge to optimise your financial situation. Our clients feel more confident about their finances and in some cases, like a weight has been lifted off their shoulders.

Book a chat with our Echuca Financial Planner for a no obligation financial overview.

What our clients say

Centrelink advice and planning

“As a widow with a terminal illness I required advice about my Centrelink options. From the very first phone call to Michael at Rich River Wealth I felt a weight lift.
Rich River Wealth helped me with my Centrelink and optimized my situation. Expert advice and knowledge, quality service and all round great people to deal with.
Highly recommend.”

Deb (57 years old)

Protecting a young family and growing wealth

“Michael has given my wife & I advice on superannuation, life insurance & income protection. Michael was very helpful & gave us full confidence in making the right decisions that best suit our needs at this stage of our lives. He always kept us updated with where things were at when we were first setting things up/ changing over & always followed things through. He made the process feel quite easy for us & made us feel welcome on a personal level rather than just another number. It is great to have someone local to talk to now if ever we need.”

Luke (35-45 years old)

Pre-retirement planning

“Michael has given us very good advice in self managed super funds, to set us up for our retirement. He explains things in terms we understand. We are very pleased with all the help he has given us.”

Toni & Keith (56-65 years old)

Retirement planning

“Michael is a likeable person and has made himself available when required. He has always provided up to date documentation for our meetings and understands our financial position well, he also offers suggestions to improve our situation appropriately.”

Sue (65+ years old)

Case Study – Superannuation Review

A 35 year old male approached us to review his superannuation after the share market drop in April 2020 surrounding COVID-19. His goal was to maximise his returns so he could retire as soon as possible.

We discussed his attitude to risk and returns, went through his existing Australian Super and CBUS Super statements, explaining the current default investments had poor relative performance and did not match his risk profile. He also had doubled up on insurance that he was paying over $2,000 p.a. Once we explained this, he told us he didn’t need this as he had no children and no significant debt.

Using our research software which allows us to compare all Australian Superannuation funds and the underlying investments, we created customised advice for him recommending a new superannuation fund which gave him access to better quality, higher performing investments.

The fees were around $900 more each year, but due to the back tested historical performance, his proposed investments would have returned an estimated 3% p.a. extra which represents an extra $7,500 p.a. based on his balance of $250,000.

HOW WE HELPED

  • Review of insurance

  • Consolidation of superannuation accounts

  • Review of superannuation fund performance

Case Study – Retirement Planning & Centrelink Strategies

A 65 year old couple approached us to help with their upcoming retirement. Although they had a good amount of assets, because they had much of their investments in term deposits, we explained the 0.5% interest rate wouldn’t be enough to cover their goal of having $45,000 p.a. to live off each year.

Their money was projected to run out at age 75, and from that point on they would be relying on Centrelink with only $36,000 p.a. to live off each year.

After discussing their options, it was agreed to increase the risk of their assets slightly, in order to get a better return than the existing 0.5% interest on their term deposits. By increasing the returns to 1.5% income per annum, we were able to project that they would meet their goal of having $45,000 p.a. to live off until age 90 (an extra 15 years of their desired income).

The Centrelink strategies involved renovating their kitchen which was well overdue and investing $27,000 into Funeral Bonds, which improved their Centrelink Age Pension entitlements by $81 per fortnight or $2,106 p.a. This represents an almost risk-free rate of return of 7.8% on their money.

HOW WE HELPED

  • Review of retirement income

  • Review of investment options

  • Centrelink strategies

Michael Anderson

Certified Financial Planner

Michael Anderson has over 15 years of financial services experience and is a Certified Financial Planner (CFP) by the Financial Planning Association (FPA). Michael is passionate about applying his knowledge to improve outcomes for his clients. Michael specialises in retirement strategies involving Superannuation and Centrelink.

SPECIALISTIONS

  • Retirement Strategies

  • Superannuation

  • Centrelink

Rich River Wealth – Echuca Financial Planner

Contact Rich River Wealth today to book a chat and get you on the right track to grow your wealth!

  • 0400 33 66 44
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