Why Plan?
The aim of the plan is to help you to meet or exceed your financial and lifestyle goals.
For sure you will encounter some of the following circumstances in life:
Employment, education, divorce, birth, death, setting up home, entering into a relationship, leaving a relationship, retirement, parenting, business ownership, health issues, elderly care.
Conscious and skilful management of your financial situation will enable you to anticipate opportunities and be better prepared for the above.
On other pages of this website such as Why Read this Section we show that many people are financially damaged through ignorance, poor advice or deception.
On the page What Makes A Good Financial Planner we explain the value of keeping up to date with the latest research and having access to the best products.
The page What Is In The Plan outlines what is in the plan!
Below we have listed a few of the topics that we investigate in the plan:
Clarity about your current position including goals and objectives:
- identifying your current situation in its entirety
- assessment of your current debts, liabilities and bank terms
- assessment of the performance of your current investments
- assessment of your current situation in relation to taxes and benefits
Goals and objectives including:
- identification of the level of risk you are comfortable with
(see: How Risk And Return Are Related) - identification of what is important for you from a lifestyle point of view
- identification of ethical, moral or energetic integrity issues
- identification of any need to put money aside for big spending requirements such as wedding, education, health, renovations etc
- setting of short, medium and long term goals for your plan
Creation of wealth including:
- comparison modelling of current investments and recommended investments
- debt reduction and the best way of structuring income, expenditure, assets and liabilities
- tax benefit issues including claiming depreciation benefits for investment properties or simple restructures that can provide benefits
- advice on the most suitable investments for you at present based on the latest research, products available and your personal preferences
- a spending and investment plan to ensure you are well covered for retirement
Protection of assets and management of risk:
- assessment of risk associated with current and recommended investments
- insurance options and review of current policies and cost - it is not unusual to find that you can have the same or better cover for a lower rate
- protection of your assets and revenue stream and protection for your family in case of your death, injury or disability
- identifying any legal issues that need remedy such as ensuring you have an adequate will and an enduring power of attorney for your next of kin
Government and compliance
- assessment of social security entitlements
- guiding you through the quagmire of superannuation and associated legislation
- keeping up to date on the latest legislation and benefits. There are many instances where the government actually gives you money, so why not accept it!
