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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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Establishment
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Need
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Related Products and Services
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Taxation
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Review alternative strategies
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Tax Specialists and Accountants
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Savings
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Long-term Retirement
Children’s Education
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Low cost superannuation
Tax effective education savings plan
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Borrowing
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Home Mortgage
Short-term Loans
New cars
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Mortgage Broker
Credit cards
Leasing
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Insurance
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Death, disability, health cover, property, contents, automotive, public liability, perhaps professional indemnity
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Competitive personal and general insurance products, researched health cover provider, possibly business cover
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Investments
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Emergency fund
Risk assessed saving plan
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Cash Management trust
Low cost/ maintenance savings programs, Insurance bond/managed fund
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Strategies
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Salary Packaging
Salary sacrifice
Income splitting
Gearing
Social security family benefits
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Cars
Choice issues
Lower income spouse
Home equity/margin loan
Assessment criteria
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Estate Planning
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Wills, trusts, nomination of guardian, Power of Attorney
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In-house referral to estate planning specialist
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Career
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Career coaching
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External specialist
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Back to Welcome page
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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Building
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Need
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Related Products and Services
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Savings
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Long-term retirement
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Superannuation, possibly Self-Managed Super Fund
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Borrowing
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Home Mortgage
Investment Property
Gearing
Short-term Loans
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Mortgage Broker
Mortgage Broker
Gearing and Margin Lending Provider
Credit Card
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Insurance
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Death, disability, trauma, health cover, property, contents, automotive, public liability, investment property, small business
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Competitive personal and general insurance products, researched health cover provider, liability and small business
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Investments
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Emergency Fund
Risk assessed saving plan
Share portfolio (gearing)
Alternative investments
Salary Packaging
Salary sacrifice
Income splitting
Social security family benefits
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Cash managed trust
Low cost/ maintenance savings programs, Investment bond / managed fund
Stock Broker
Syndicates; agricultural, derivative based
Cars
Choice issues
Lower income spouse
Assessment criteria
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Estate Planning
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Wills, trusts, nomination of guardian, power of attorney, family law issues, executor of wills
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In-house or referral of estate planning specialist
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Back to Welcome page
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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Retirement
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Need
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Related Products and Services
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Taxation
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Retirement deductibility, rebates, offsets, thresholds
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Accountant
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Winding up Strategies
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Gearing and investment properties
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Tax and social security advice
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Savings
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Use of excess income
Short term Financing
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Insurance / managed fund
Credit card
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Insurance
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Property, contents, automotive, investment property
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Competitive personal and general insurance products, researched health cover provider
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Investments
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Emergency Fund
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Cash managed trust
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Estate Planning
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Wills, trusts, nomination of guardian, power of attorney, family law issues, executor of wills
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In-house or referral of estate planning specialist
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Downsizing of Home
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Bolster retirement income/savings
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Real estate agent
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Reverse Mortgage
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Supplement income in retirement
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Reverse mortgage provider
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Back to Welcome page
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