What is Financial Planning?

Our goal is to give you the best possible plan to suit your current lifestyle and to help you reach the lifestyle you want to achieve. How do we do this? We comprise a well structured questionnaire and recording system to give you the best results based on your circumstances followed by identifying your life goals. We uncover your tolerance financially in times of hardship and what risks you are willing accept in your financial plan. Our Advisors aspire to make sure you fully understand the information given to you and its importance. Once we have achieved this, our next task is to set out your plan so that you can visualize your decisions and their impact, and then make informed judgments. We recognise that there are three main stages throughout life;

First Life Stage (25 – 35 Yrs Old)

During this period of life people are usually trying to launch their careers, or perhaps trying to start a family and buy a their first home. So what is needed?

Our advisors look carefully through your cash flow and financial structure in order to review alternative strategies that could possibly save you money. We look to put into practice a long term retirement plan investing in low cost superannuation while helping you save for your children’s future. At this point in time, you may be looking at mortgages, credit cards, or even leasing; our advisors will help guide you through all these hurdles while also helping you decide on investments that will set you up for the future.

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Second Life Stage (40-50 Yrs Old)

This may be the time when people are trying to consolidate their lives and finances. Mortgages and children are still a prevalent issue, however if you are settled into a career, this may be a time when you can start to accumulate your savings. During this period of your life, other issues such as death, divorce or illness can begin to strain your financial plan.

Having said this, the goal now is to not only continue the strategies first put in place, but to perhaps mold them to better suit your circumstances now. This could mean the reviewing your risk insurance, or maybe widening your investment strategy. We may now also need to look at managing the care for elderly parents or other obstacles that come along.

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Third Life Stage (Retirement Planning)

You have your income set now but do you know where it will come from in retirement? The money you will live on will likely come from your superannuation, personal savings, Social Security, and maybe even part-time work. The amount that you need to save between now and retirement depends on what you might receive from your pension and Social Security, and what your investments could earn between now and the time you retire. A Social Security Government age pension will not replace the majority of your income in retirement.

The third life stage is to plan for your retirement so these things never become an issue and it usually begins well before the actual retirement date. Our focus her is to look at possible strategies to supplement your income such as reverse mortgage, basically meaning that you borrow money against the value of your house but don’t need to make regular repayments until you leave your home for whatever reason.  

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