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Beefing up the Business

Tim-Vincents-Cattle-Farm-Property-Invest BlueFor Tim Vincent, farming cattle is in his blood and he’s as passionate about it now as he was as a 12-year-old kid when he purchased his first registered Angus.

These days, Tim runs Booragul Angus Stud with his wife Margaret.

The 2,500 acre property, situated between Tamworth and Gunnedah is home for Tim, Margaret and their two children, 15-year-old Amy and 12-year-old Hayden. With the support and encouragement of their Invest Blue financial adviser, Steve Sewell, Tim and Margaret worked through their goals and objectives. Facing a myriad of investment choices, they were unsure how to proceed. In the end, they chose to purchase a nearby property so they could expand their business. And the couple are absolutely thrilled to have just achieved record results in their annual stud sale and feel that they are on track for their future.

Booragul Angus currently produces 70-80 Angus Stud Bulls each year and also supplies between 600 and 700 grain fed cattle per year to Coles. Breeding cattle is second nature to Tim – he’s always lived on the land and been interested in showing and breeding cattle. But now he’s very much looking to the future. Part of the couple’s incentive in purchasing more land was so they can grow their business and set themselves up for the future. Their other motivation in expanding is to put themselves in a position to reduce their debt and employ others so they can at times, step away from what is an all-consuming enterprise.Vincents-Family-Invest Blue

Fortunately, the Vincent’s know they’ll have their adviser of several years on their side as they move forward. Tim is a big believer in the need to surround yourself with good people in order to be successful and Steve Sewell is part of that team.

Tim says that Steve has proven himself by offering good advice and always taking a personal approach to Tim and Margaret’s finances. When the three get together it’s always a relaxed forum in which their superannuation or investments are discussed openly and straight-forwardly.

The Vincent’s particularly appreciated Steve’s advice last year when discussing investment plans. Tim says, “We were unsure as to the wisest way to invest for the future – be it a block of flats, a coastal property or an industrial investment. Looking at our ages and young family, Steve encouraged us to roll up our sleeves and put money into growing our existing business where he knew our passion lay. We knew his advice was very genuine as he could easily have encouraged us to go in several other directions linked to our portfolio such as building our super.

We went to him with an open mind and it was great to talk to someone who could put a few more highlights in front of us before we made our decision. His advice had weight in that it was about us – he had nothing to gain from our investing in more land.”

Vincents-Tim-Wide-Shot-Invest Blue

With that said though, the couple know Steve will have a role in the workings of their investments moving forward. Tim’s hope is that the decisions the family are making now will result in continued growth for the Booragul Angus Stud. He says, “We aren’t yet in a position to take full advantage of Steve and the services of Invest Blue but we certainly hope their turn will come. In the long-term, we hope we can put more money into super and grow our portfolio to take full advantage of what Invest Blue can offer us.”

Until then, you’ll find Tim and Margaret continuing to give their all to their business. Tim is pleased that the agricultural industry is currently in a strong position and remains passionate and optimistic about its future. He says, “There’s more light at the end of the tunnel that I’ve seen in my time.” And if he had one simple request? More rainfall for our drought ravaged land would certainly wash away some worries…

 

What you need to know

This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.

These clients have agreed to share their story. Everyone’s situation is different, so their choices and outcomes will be different to yours. Consider your circumstances before deciding what’s right for you.