Bruce and Marama’s dream was to spend a year travelling the world.
They had always been careful with money and never spent much on themselves. They invested so that they could afford a nice retirement and do all the things they weren’t able to do when they were working and raising a family. They retired with two investment properties, some shares and a few term deposits to take them through their retirement years, in addition to the unit they had moved into.
Two years into retirement, it was time to see all those places they had dreamed about visiting while they were working. But who would look after their finances and property while they were away?
Their kids were far too busy with their own lives to manage their affairs as well. There was property management, including making sure all the maintenance was undertaken, tenancy issues to manage, paying the bills and re-investing the term deposits as they matured based on their instructions. Someone also needed to be available to wire them some cash if they needed it and top up the credit card when required with cash from their account. Bruce and Marama knew they wouldn’t be able to relax while they were away if they tried to manage it from afar, and they were nervous about accessing their online bank accounts from networks that they might not be able to trust.
That’s where Mary from Public Trust’s Personal Assist team came in. She administered all of Bruce and Marama’s financial and property matters while they were away. Each month she sent them an email, just to let them know what was happening. They could pick up her emails on their travels. Bruce and Marama had peace of mind that everything was being taken care of. They could enjoy their year away, knowing that when they came back, they could pick up where they left off.
-This case study is based on a real family, but names and details have been changed for their privacy.