Starting Line

Hudson was referred to Galaxy Sport by his Player Agent. Despite having some savings, he lacked a clear understanding of his financial inflows and outflows, as well as how to effectively build his savings and grow his wealth. From the outset, Hudson had a strong desire to learn and achieve financial results within a reasonable timeframe. This case study outlines the tailored plan we developed and implemented to meet his financial needs and achieve his financial goals.

The Plan

After completing a forensic review of Hudson's accounts, we identified two key areas of focus: implementing Payroll Diversion and establishing a personalised savings plan. While Hudson expressed interest in investing, we determined that the associated risks were high, given his off-contract status. Therefore, we advised him to stick to a basic savings plan until he secured a longer-term contract. This ensured Hudson could build a more stable financial foundation.

The Result

By forecasting Hudson's savings based on his contract term, we devised a strategy that allowed for two property purchases: one in 2021 and another in 2023. Our team actively assisted Hudson in negotiating the purchase of a property for him and his partner to reside in. Additionally, we facilitated the purchase of an investment property, which is currently nearing completion of construction. Through thorough research and leveraging a minimal deposit, Hudson's investment property has already gained an estimated value increase of at least $150,000 over its purchase price.

Bottom Line

Following a cautious approach initially, Hudson is now dedicated to reducing his non-deductible debt while benefiting from the appreciating value of both his properties. With our guidance, he has achieved a strong financial position at this stage of his career.