We will tailor a financial plan to suit you and your specific circumstances. You have the option of asking for advice on a specific matter ie. superannuation, insurance cover, or we can provide a full financial plan considering a number of different strategies that can assist you in achieving your goals, objectives and aspirations.
As your circumstances change and / or government legislation alters, it is very important that once you have completed a financial plan that we review your situation and make any necessary changes to ensure you continue to maximise your benefits and improve your overall financial position over time.
We have listed additional information in some of the areas that we consider when we look at your situation.
Maybe you're at a time in your life where you are financially stable -the mortgage is under control and you've started to think about spending more time with your family or pursuing your interests.
To make sure that you can truly look forward to enjoying the 'good life' in retirement, you need to ensure that you have adequate savings. We can help you realise and maximise the potential of your peak earning years to achieve the best increase in your wealth.
We can assist with helping to identify and develop the best strategy that suits your circumstances and your stage in life.
A few wealth building options may include:
- paying off your mortgage earlier to save on interest costs
- investing in a diversified investment portfolio with portions in Australian and international shares, fixed interest and listed property trusts in an effort to create additional wealth over time
- investing in superannuation, which is the most tax effective investment strategy for retirement savings, with a maximum of 15% tax on superannuation earnings
- gearing - which involves borrowing money to invest in shares, listed property trusts or managed funds.
If you are planning for retirement or already retired but wanting to improve your current financial situation, we can structure a financial plan tailored to your situation.
With improved lifestyle choices and advancements in medicine many people are living well into their 80’s and 90’s meaning that they may have been retired for 30 plus years, and may face the prospect of outliving their retirement benefits.
One of the keys to providing financial security during your retirement years is often made easier by starting early. There are many strategies than can be adopted to build wealth and we can discuss and recommend the most appropriate strategies depending on your situation and taking into account current legislation.
If you want to achieve financial freedom and peace of mind, now is the time to seek qualified financial advice.
Superannuation can be a very complex issue that involves legislation, taxation, law and investment performance. This can lead you to believe that superannuation is just all too hard!
Dismissing super as "too hard" may be a disadvantage in the long term as super can be an extremely effective way to plan for your future. The concessions provided to superannuation investments can be considerable when compared to other investments. When compounded over many years, these can make a big difference to your retirement lifestyle.
Although superannuation is just one type of investment within a range of alternatives, it can be very beneficial due to various tax benefits both pre and post retirement. Superannuation has an attractive maximum 15% tax rate, provided the scheme of which you are a member meets certain requirements. This is below the personal rate of taxation for most people and as such makes it an ideal investment vehicle.
Talk to one of our experienced advisers today. We can help you better understand super, its advantages and disadvantages and together we can make an informed decision as to how Super can fit into your financial plan.
Risk insurance forms a critical part of the financial planning process. It provides you with protection against the financial implications of an event such as death, disablement, serious illness or injury.
There are a range of insurance options available that we can tailor to suit your needs and personal situation. The most common types of risk insurance include:
In the event that you suffer an illness or injury and are unable to work, income protection provides you with a monthly benefit of up to 75 per cent of your salary.
Life insurance helps alleviate the financial burden your family may be left with after your death. This is paid as a lump sum to your nominated beneficiaries to assist with medical costs, funeral expenses and help maintain your family’s lifestyle.
Total and permanent disability (TPD)
This provides a lump sum in the event of a total and permanent disability that prevents you from ever returning to work.
Trauma insurance is paid as a lump sum upon diagnosis of an eligible condition (eg cancer, heart disease).
Self-managed super funds
Self-managed super funds (SMSF) gives you control of how your superannuation benefits are invested, operated and managed. SMSFs allow you to invest in a range of assets such as shares, managed funds, term deposits, property, art and collectables. You also have the option to borrow to purchase property and shares.
While SMSFs are a compelling structure for those who want full decision making capabilities, having your own fund can generate a mountain of paperwork, such as looking after the establishment, asset administration, super administration, investment strategy and end of year financials.
As well as assist you with the establishment of an SMSF, we provide you with ongoing strategy, investment, insurance and estate planning advice for your SMSF and can provide assistance to other superannuation professionals in relation to asset administration, super administration and end of year financials.
Taxation and Centrelink issues
If you need advice on how to consider strategies to legally minimise your tax and maximise your social security entitlement, consult with us to find out what strategy best suits you.
By restructuring your investments you may be eligible to receive tax benefits or social security benefits that you were previously denied, which could result in your investments lasting longer.
Many people feel that estate planning may not apply to them – the word “estate” has connotations of huge acquired wealth, but this couldn’t be further from the truth.
Despite being one of the most vital areas in management of your financial affairs, estate planning is often overlooked. But what is estate planning? It’s the concern of your total assets and liabilities.
All financial levels will benefit from estate planning, regardless of the amount of savings you have, your age, or your financial status. We should all have a current, valid will and a Power of Attorney, and should be reviewed every three to five years, or after major life events such as marriage, divorce or the birth of children and/or grandchildren. Estate planning can be utilised to correctly distribute your assets and to create and protect it for you and your family.
Our advisers have the ability and expertise to assist you and your solicitor, who will then complete the appropriate documentation with your Estate Planning needs and objectives.