Client Profile: Colin & Cathy
Colin kindly wrote the article on their working life, retirement, and relationship with GFM Wealth Advisory. We greatly appreciate his contribution to Trade Secrets.
In the early 70’s, Cathy and I met while working at the new-to-Australia Target Discount Chain, and we married in 1973. Cath spent the next 44 years working in various administrative roles in retail, while I moved into Sales and Marketing in the Plastics Industry.
Having both grown up in the Western Suburbs, Cath in Sunshine and me in Williamstown, we bought our first home in the new satellite city of Melton. Unlike today’s first homes, it was only 12 square. We intended to live there until we had a family, when we would move into something bigger and better. However, despite spending a lot of time and money on the new IVF procedures, we never managed to have children, so despite having done extensions and numerous renovations, 50 years later, we still live in our original home.
Not having family obligations, we were able to travel overseas quite extensively both through work and privately, quite often with friends, and had the privilege of experiencing many of the great wonders this world offers, including Cath’s favourite (being an animal lover), several safaris in various parts of Africa.
When we retired a few years ago, we upgraded our caravan and began spending three months a year chasing the warmth, enjoying the marvellous country we are lucky to live in. I might add that Australia can hold its head high, having features and animals equal to those of anywhere else in the world.
Sometimes when you travel, you can be lucky. Cath and I had decided to do the West Coast when COVID reared its ugly head, we left Melbourne two days before “lock down” started and got into WA before their lock down and we happily spent six months touring the West without any indication there was any medical emergency, to the extent that when we called into Kalgoorlie Hospital for a booster shot they weren’t even wearing masks!
Although between us, we worked for 94 years, like several workers of our age, we never started superannuation until reasonably late in our working lives. So, when the opportunity came to buy into the company I worked for, I jumped at the chance. With a combination of salary sacrifice and company dividends, we saved enough, and through our accountant, we set up an SMSF.
However, we soon found out that using accountants as financial advisors does not necessarily produce the best results, and we were disappointed with the performance of our SMSF portfolio. I was having a whinge about this to a friend, Ralph Hermann, one night, and he told us about the company he and others from Qantas used, GFM, and particularly Patrick Malcolm.
I must admit that taking advice from a Carlton supporter made me nervous, but I decided to give it a go. Patrick soon straightened out some of our problems. However, I think it was just after he found out we were Western Bulldogs supporters that he suggested we work with Amelia Paullo, which we have done happily and successfully ever since. We have been much happier with the results of our SMSF portfolio due to Patrick and Amelia.
I want to extend a huge “congratulations and thank you” to all the staff at GFM, who are not only incredibly skilled at what they do but also do it in such a friendly and positive manner. We look forward to our annual visit to Camberwell, which allows us to spend quality time with the team at GFM. We always enjoy the visit and the time spent with the team.