Zaheer Lalani from YBR Blacktown shares a story of how a family saved substantially for their future despite trying circumstances
Zaheer Lalani a financial planner/broker of YBR Blacktown shares a story of how a family saved substantially for their future despite trying circumstances
First meeting
YBR Blacktown financial planner/broker Zaheer Lalani recently met a young client who was looking to create a 10-year financial plan (let’s call her Naomi). “She is 21 years old and has been working at Harvey Norman for the past four years,” says Lalani. “Initially softly spoken, however one hour into the conversation she was a humble and well-spoken individual who takes a lot of pride in her work.”
She had chosen not to undertake further studies after graduating high school due to family restrictions. “Naomi lives with her grandfather and her mother (who both attended the meeting) and an older brother.
Smart savers
Lalani explains that the needs for the whole family were catered for within Naomi’s grandparents part-Age Pension of $40,000 per annum. “Naomi’s mother is on a disability pension due to lower back issues,” he says. “She no longer works but has saved for her two children their entire lives. Up until today, she has saved $280,000 which is to be split between each child. I was naturally shocked at hearing this but at the same time immensely proud and congratulated her on this achievement. But it didn’t end there.
“In the last four years of working as a customer service rep at a retail outlet in Blacktown, earning $40,000 pa., Naomi has accumulated just over $100,000 in savings. What an achievement!” Lalani says he was so proud of these clients who clearly understood the importance of saving for a brighter future.
Planning ahead
“In all, Naomi has asked me to provide her advice in creating a plan for the next 10 years. This covers investing, saving, insurance and other personal objectives she has. This work has commenced and she will be a long-term client of YBR.”
Lalani says he always makes sure the initial meeting with each client is an educational one. “We need to educate the clients on what we do, what options are available and how they work. Naomi’s grandfather was so impressed, he has asked me to review the $500,000 pension product he has with his wife.
“In all a great meeting, they learnt a lot, I learnt a lot and it’s a great story for everyday Australians”.
Zaheer Lalani is Principal and Wealth Manager of Yellow Brick Road Blacktown, New South Wales.
In MPA’s happiest client short story series we show-case stand out ‘client success stories’ from brokers and discover what they learnt along the way. Leaving aside the details of the deal, we explore the human side of the story and how brokers really make an impact in people’s lives. If you have a client story you would like to share please email the editor.
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