We understand it’s sometimes hard to know what you need. You may know what you want, but not necessarily how to get there (financially speaking that is). That’s what we do!
We’ll talk with you about what you really want and where you want to go – in terms of income, assets, and lifestyle – and then provide a framework to help you get there.
We can then check in with you regularly to make sure you’re still on the right path – or if perhaps your preferred destination has changed, and new directions are needed.
Of course, life will sometimes throw things in your path, and you’ll be delayed or need to take a detour. Whatever happens, we’ll work with you to help you through such setbacks. By planning, you can feel confident and in control even as your situation changes.
So, how to get started? Let’s start with what’s most important: you!
Which situation best describes you?
Beginning your career | Growing your income | Saving for your first home | No dependants | Disposable income to enjoy your lifestyle
How we can help you:
- Superannuation contributions for the self-employed
- Is it the right time to start salary sacrifice or personal contributions to top up SG?
- Income protection – so your cashflow is covered should illness or injury strike.
- Setting up and sticking to a budget, using methods that suit your needs
- Starting and maintaining a savings plan for medium term goals like a new car, a home, or an investment property.
- An appropriate cash reserve to maintain for a rainy day
- Selecting the right investment strategy within your super fund to align with your risk profile
- Consolidation of multiple superannuation accounts
- Matching savings strategies to the right product
Time Poor | Career established | Tax planning | Expenses increase with school fees and mortgage payments | Upsizing home and mortgage | Building wealth in super and home equity
How we can help you:
- Review your contribution levels – consider salary sacrificing
- Superannuation contributions for the self-employed
- Contributions or splitting for a stay at home spouse
- Income protection is still important, but Life, TPD and Trauma may also required to cover debt and provide for your family.
- Concentrating on setting up appropriate savings, balancing debt repayment and the right structures to ensure you pay no more tax than you need to.
- Looking ahead to be ready for disposable income when expenses decrease.
- Selecting the right investment strategy within your super fund to align with your risk profile
- Consolidation of multiple superannuation accounts
- Matching savings strategies to the right product
Empty Nest | Stable Income | Debt minimal | Empty nest | Higher savings capacity | Retirement is within reach | Assisting both children and parents
How we can help you:
- Time to get serious about maximising your contributions and building your account balance.
- We can provide projections to show you where you are heading and keep you on track.
- Other things to consider may be Transfer Balance Caps and transition to Retirement strategies
- With increased wealth and reduced debt it’s time to review your insurance and control your premiums.
- Utilising growing disposable income for short- and long-term benefits
- Planning to have debt paid off before retirement
- Good debt over bad debt
- Getting serious about formulating a picture of when you would like to retire – and what you might be able to afford to spend in retirement.
- How much you need to be saving now to make it all possible.
- Ensure your superannuation is invested appropriately for your personal situation and objectives.
- Reviewing assets that may no longer be appropriate when you aren’t working, or require too much hands on management
- If you haven’t already got a Will and Powers of Attorney, then now is the time
- Ensure any financial strategy works with your plans for your estate after you pass away.
- Assisting parents with daily care, or making accommodation arrangements for them
Spending on leisure and travel | Spend time with grandchildren | New routines and hobbies | Supplementing cashflow with Centrelink/DVA entitlements | Downsize your house | Caring for elderly parents
How we can help you:
- Helping you get an accurate picture of how long you can expect your capital to last – and adjusting spending plans or investment strategies to make sure you don’t outlive your savings.
- Keeping you updated on legislative and economic changes that may affect your situation.
- Structuring a regular income in retirement that’s as tax effective as possible.
- After retirement it is about creating a regular income which is enough for you to enjoy yourself now but maintain capital for your estate and/or quality aged care accommodation when the time comes.
- Ensuring you have access to liquid funds to cover holidays, car upgrades and other one-off purchases.
- Balancing the amount of risk required to protect your capital and provide an income now you are no longer working
- Reviewing assets that require too much hands on management
- Making sure any Centrelink or DVA entitlements are factored into your financial plan.
- For parents, or future planning for you and your spouse.
- Ensure any financial strategy we put in place for you takes into consideration your plans for your estate after you pass away.
- Attend family meetings to discuss estate plans
Reduced Expenses | Downsizing Home | Assisted Living or At Home Services | Reviewing Estate Planning and PoAs
How we can help you:
- Comparing options of selling or keeping family home.
- Pay a RAD or a DAP?
- Referrals to specialist to assist in arranging suitable aged care placement
- Review Estate Plans and Power of Attorney arrangements in light of illness or death of a partner
- Attend family meetings to discuss estate plans
- Potential simplification of investment strategy and product choice
- Factoring into considerations around living arrangements and gifting
- Assistance with forms and dealing with Centrelink or DVA
How does financial planning work?
Financial planning is about adapting your financial strategies over the years to match your changing needs. We typically take you through 6 steps, but sometimes we may focus on one issue or just a few parts of the process to achieve your goals.
Financial advice in 6 simple steps
We like to make it easy to work with us – and get the financial advice you need to plan for the future.
LISTEN
Step 1: We meet to get a complete picture of your financial situation.
Step 2: Identify your financial and lifestyle goals.
RESPOND
Step 3: Identify your financial issues and any gaps, to make sure you get to where you want to go.
Step 4: Prepare your financial plan, bringing together your situation, goals and our recommended strategies.
DELIVER
Step 5: Implement your financial plan and get your investments up and running.
Step 6: Review and revise your plan over time.
