Life is full of uncertainty, but especially so when you work within the entertainment industry. For husband and wife team Kane Baker and Rebekah Elmalogou, ensuring their family was set up for the future was an important part of their financial plan.
Kane is a musician who has worked with some of Australia’s biggest acts, and Rebekah is an actor recognised nationwide. Early on, Kane and Rebekah recognised the sporadic nature of the industry, and understood the implications it could have on their financial future.
In order to continue to pursue their passions and have the best of both worlds, they needed to act wisely. Kane and Rebekah were eager to ensure their family would have something substantial to fall back on, in case either of them found themselves out of work.
When Rebekah was offered a role in the hit TV show Neighbours, Kane, Rebekah and their nine-year-old son made the move to Melbourne, and Kane returned to his trade as a painter decorator.
With increased work-stability and spike in income, Kane and Rebekah began investigating other options for how they could make the most of their joint income while work was steady, and how they could help get their family closer to achieving their life goals.
“We knew we wanted to put our money to good use, but we didn’t know too much about how to get started, so we sought help from the team at Rising Tide Financial Services,” says Kane.
With support from property investment specialists Matt Hale and Tom DeFegely, Kane and Rebekah decided to invest in housing for a secure investment with steady growth.
After careful consideration, they signed up to the Rising Tide Property Package, a comprehensive plan which manages the entire property purchasing process, including sourcing buyers advocates, lawyers, and any additional requirements not completed in-house.
“We decided our best option was to get an investment property, and due to the big increase in my wife’s salary, it made sense for tax reasons. Initially we wanted to get something established in case she didn’t get work, but we’ve been really lucky so everything from here on becomes a bonus,” says Kane.
Fast forward a few years later, and Kane and Bec now have a few properties under their belt and are well on their way to accomplish all they set out to achieve.
“Working with Sam, Matt and Tom and the rest of the team from Rising Tide has helped us to get so much closer to our goals. The guys were able to really shine a light on how the whole finance system works. They helped us to set up a plan of how to get to where we wanted to be, and now they’re still helping us to maintain all that we’ve achieved,” says Kane.
“For anyone else out there who’s looking to make the most of their finances, it’s so important to get the right advice. Some people who grew up in well-off families are taught these things from a young age, but finance was never something that was on my radar.”
“Getting started can be daunting, and it can all seem too hard and too expensive, but the fact is, when you have someone there to teach you, you’d be amazed at what you can achieve.”