Financial Planning

Tailored Solutions For Your Needs

Welcome! We understand that everyone has different financial planning needs. Where you are in your financial journey begins before we are born and of course continues after we die. Why is this so?

It is not uncommon for expected parents to book their unborn child into private schools as the first step in securing their child’s financial future, or for grandparents to take out Investment bonds immediately on the birth of a child as a means of paying for their tertiary education. These are just 2 examples of steps that are taken to secure the financial future of a child. At the other end of our life cycle, progressing planning will enable you to live comfortably in your retirement years and good estate planning will secure your loved ones financial future.

Your life cycle and your financial journey will determine your next financial plan.

To help you understand where you are in your financial journey, we divided it into 3 stages:

  • Wealth Creation
  • Wealth Management
  • Retirement & estate planning

If you click on the Financial Journey button, it will lead you through each stage.

WealthMaker can help you:

  • Understand your attitude to risk
  • Identify your future financial needs
  • Identify strategies aimed at helping you create and manage wealth, then establish a retirement plan
  • Structure your financial affairs a tax effective manner
  • Compare financial strategies

Wealth Creation

We understand that wealth creation requires discipline and a plan. Many of us have a plan in our heads and have implemented parts of the plan. However, we often find that clients do not have an integrated plan that pulls together all aspects of their life.

In our early years the single most significant investment is the home we buy. So looking at buying property both a home and as an investment is important, because inevitably one day you will sell the property.

A major challenge for all of us is how to invest while we pay down our home loan.

Key Tip: Look for products that allow you to invest while paying down your mortgage. For more information, call us

Wealth Management

Once you have wealth we all should implement strategies to protect it. In many cases clients either do not insure themselves or are under-insured, or take the attitude that it is not necessary part of protecting their wealth. This is a high risk strategy for both small business owners and salary earners, as in both cases you are usually the primary income source.

Another issue we come across is that some people only invest in property. It is our experience that once you have some wealth it is best to diversify into other forms of investment as a means to protect your total wealth position.

Key Tip: Asset diversification is the key to ongoing wealth. Having all your eggs in the one basket is not the way to go.

Retirement

When we come to retire most people wish to be debt free with income producing assets both inside and outside of superannuation. This means that wealth creation strategies based around debt (leverage) should aim to make you debt free at the time you retire.

Key Tip: Do not leave retirement planning until a year of two before you wish to retire. Start the process in your 30s so you understand what superannuation you will need to accumulate to live the life style you want.

Estate Planning

We all avoid doing a Will, because it makes us confront our own mortality. Yes, it is not a nice thought. However, death and taxes are certain, so if we want to pay less tax and set things up for our loved ones we need to do a Will.

Key Tip: Talk to those who expect to receive money from your estate and tell them what you plan to do. This reduces the risk of a squabble after you die meaning that the lawyers are the only winners.

WealthMaker Financial Services can provide advice and assistance no matter where you are in your journey and help you reach your goals sooner. Our free financial health check is a great way to start. Click on the link above to arrange.

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