Consolidate
Take stock and consolidate your position, as the fast pace of modern life subsides. You have dreamt of endless possibilities and now’s the time to reassess what’s truly important to you. Be decisive in your next move.
Perhaps you’ve more time on your hands and more money in your pockets. Review your plans to make sure you are still on track so you can relax and enjoy the more exciting things life has to offer. Now is not the time to rest on your laurels. Strategies, investments and risk policies are constantly being refined and improved. Consequently, as your circumstances change and the needs they once served become redundant, your financial strategy may need to be reviewed and adjusted.
To learn more about how a financial adviser can help, read the blog “What does a financial adviser really do?”
Education, Budgeting and Savings Plans
You are fast approaching your peak earning potential. Depending on how well you managed your finances to this point, you could own your home outright, have stopped paying for your children’s education and be well on your way to living the lifestyle you want.
Staying on track here will ensure that you can enjoy the finer things you have always talked about, at a time of your choosing.
Investment and Wealth Creation
A redundancy, a windfall or just plain hard work and your savings plan, can open the doors to an array of opportunities within investment markets. It’s important that being in an unexpected position to invest does not lead to rash, cavalier or indiscriminate investment decisions.
Getting advice from an experienced investment professional can help avoid catastrophic investment decisions that can erode your wealth.
Business Solutions
Succession planning and buy/sell agreements are as complex as they are necessary. The thought of having to deal with your business partners spouse to keep the company running profitably or find the required capital to buy them out in a time of need can be fatal to a thriving business.
These areas warrant time for considered planning.
Superannuation
Fine-tuning your strategy over time is critical to optimising your balance for retirement. Are you in a position to capitalise on the opportunities the ever-changing financial landscape offers? Think about the improvement in investment products & platforms. The lower fees from increased competition and advances in best practice? When was the last time you rebalanced your portfolio? Do you know how your money is invested? If transparency of your investments is an issue, how can you confidently contribute more of your own money into a super account?
At this stage of your life, there are strategies to be taken advantage of to boost your account balance and reduce your tax. Having a tailored investment approach is essential to solidifying the security of your superannuation balance for your retirement.
If you are at this stage of your life, make the time to talk to us. Don’t leave it to chance. We can ensure that your Superannuation is on-point and is working to put you ahead of the game.
Wealth Protection and Personal Insurance
Given your likely position with fewer responsibilities, debts and commitments, it’s vital that these changes are reflected in your level of cover. It’s important to talk to someone you trust who will work with you to ensure that you are covered with your needs in mind.
Make sure your family members have their own protection requirements in order. Some younger clients say that they don’t need personal insurance cover. That if something were to happen, they could rely on their family and friends financially. No doubt this is likely true, but it’s a plan B that is rarely discussed with those expected to provide it.
Given we are one of the very few practices offering you commission-free cover, we can save you 25- 40% on the life of your policy premiums. That results in money that stays in your pocket and will work to achieve your other financial aspirations. We are talking about ten’s of thousands of dollars over a 10 & 20 year period.
Estate Planning
Life is forever changing, and it is important that your wishes are reflected in your estate planning directives. Sometimes it’s just as important that those closest receive items that you hold dear, as it is ensuring that those that have moved out of your life are, for all intents and purposes, “out of your life”. At times like these, the grieving process is mandatory, but financial stress and disruption is optional, and it’s something that you will decide on today. Don’t leave this to fate, or worse, the courts.
Children's Education
Sometimes it’s not about helping your children. Sometimes it about helping your grandchildren. If you see the value in good schooling and are in the position to offer assistance, then we can help you establish a plan that will facilitate precisely that. A pathway to a better education for your grandkids.
Retirement
With retirement just around the corner, being able to position yourself to take advantage of government support is a long-term strategy. It’s vital to keep this in mind when constructing a holistic financial plan.
Come and see us for a full review of your current situation.
