Financial FreedomSudden WindfallBuying Your First HomeManaging DebtSaving for Something SpecialGetting MarriedBecoming a ParentEducating the ChildrenGetting DivorcedTaking a Redundancy

Seeking Financial Freedom

Sorting out our finances is something we all need to do at some stage. You don’t need a large inheritance or an intricate knowledge of financial markets. Whether you’re just starting out or you’re trying to get ahead, you just need to know how to make the most of the money you’ve got and exercise a little discipline.

Common questions to consider

  • Where does my money go?
  • How do I make the most of my money?
  • Are there ways to save money on my debts?
  • How do I become a good saver?
  • What should I do about my super?
  • Do I need to protect my income through insurance?
  • How do I pay off my home loan sooner?

To sort out your finances, your first steps are to:

  • Work out how much money is coming in and going out.
  • Identify how you can manage your money more effectively without compromising your lifestyle.
  • Have a plan where you are able to save more.

We can:

  • Review and analyse your current spending patterns.
  • Review your financial commitments and debts.
  • Identify your opportunities to save money.
  • Construct a budget with you.
  • Review, recommend and organise appropriate insurance.

A Sudden Windfall

What to do with some unexpected extra money

Although windfalls may be unexpected, if and when they happen, how do you make sure you make the most of them? And, when it comes to inheritance, how do you know if there are any special obligations or considerations that apply?

Common questions to consider

  • What are my options?
  • Do I have to pay tax on an item I inherit?
  • I inherited a house and I want to sell it. Do I have to pay Capital Gains Tax?

How we can help

If you have a sudden windfall like cash, property, shares or even a valuable item there may be financial implications. We can help you understand those implications and help you make the most of your windfall. We’ll also ensure you’re aware of any tax implications of your decisions.

We can:

  • Review and help you set goals and a realistic timeframe.
  • Identify your options if the windfall is cash and advise of tax considerations if the windfall is not cash.
  • Recommend a selection of investment options.
  • Advise you when you need to see an accountant or solicitor.

Buying Your First Home

According to research from the Reserve Bank, Australia enjoys one of the greatest home ownership rates in the world. But in a time of high house prices how do you make this great Aussie dream a reality?

Common questions to consider

  • Am I better off renting than buying?
  • I really want my own place. How much do I need?
  • How much can I borrow?
  • How much deposit will I need?
  • What additional costs will I be up for when I buy a place of my own?
  • I’ve heard that there are concessions for first homebuyers?
  • I’ve done all the numbers and even with the concessions, I still don’t have enough. How do I get my deposit together?
  • What should I do with my money while I try to accumulate a bigger deposit?
  • What types of loans are available?
  • What should I look for in a loan?
  • How do I find the right mortgage for me?

We can help:

  • Work out how much you can borrow based on current financial commitments.
  • Calculate the deposit you are likely to need.
  • Identify options to save for a deposit in the timeframe you set.
  • Set a budget to cover your mortgage commitments when you have purchased your property.
  • Review, recommend and organise appropriate insurances.
  • Recommend if you need to create or review your Will.

Managing Your Debt

Debt is not a dirty word! It can actually help you – if it’s the right kind of debt.

Things to consider

On one hand, there is good debt where you borrow to invest and your investment grows in value or earns money. Good debt actually works for you. On the other hand there is bad debt where you borrow for a car, boat or use a credit card to buy items that depreciate in value and don’t earn you any money. You lose twice here – the capital value and the interest you’ve paid.

That’s why before you start accumulating assets, it’s important to check what you owe – how much, in what form and at what interest rate. Then you can see whether you can arrange your debt more efficiently.

How we can help:

  • Review and analyse your current spending patterns.
  • Review your financial commitments and debts.
  • Identify your opportunities to save money.
  • Construct a budget with you.
  • Help you consolidate your debt effectively.
  • Recommend savings or investment products to achieve your goals.
  • Review, recommend and arrange appropriate insurance.
  • Look at ways of turning bad debt into good debt.

Saving for Something Special

Most of us have things we want but unfortunately most of us can’t simply go out and buy them. We have to save for them as putting them on a credit card can be very expensive. Whether it’s a new car, an overseas trip or a deposit for your first home, that something special is achievable if you are realistic and put in place a disciplined savings program.

Common questions to consider

  • Where does all my money go?
  • How much should I be saving each week?
  • How do I make the most of my savings?
  • Where should I put my money while I’m saving?
  • What is the benefit of starting early?

How we can help

When you have a special goal in mind, you might need help working out how much you need to save and how to look after what you’ve achieved so far.

We can:

  • Review and help you set specific goals and a target timeframe to achieve them.
  • Look at how much you’ll need and factor in inflation for long-term goals.
  • Review and analyse your spending patterns.
  • Review your financial commitments and debts.
  • Identify your opportunities to save money.
  • Recommend savings or investment products to achieve your goal.
  • Review, recommend and organise appropriate insurance to protect your existing assets and your financial situation.

Getting Married

Getting married is an exciting time in life but it can also be a time of significant financial change and stress. First there is the cost of the wedding itself – and the budget you’ll have to tie yourself to so you can have exactly the wedding you want. Then, when the honeymoon is over, there’s the life ahead with all the financial decisions you’ll make together as a newly married couple.

Common questions to consider

  • How do we set a budget for our dream wedding?
  • What are the joint financial decisions we should be thinking about now we are getting married?
  • What if we have different views on how to manage money? One of us is a spender, the other thriftier?
  • Do we need a Will when we are married?
  • Do we need insurance?
  • What types of insurance are there?
  • I am remarrying. Are there any special financial considerations?
  • What is a prenuptial agreement?
  • Are there any tax minimisation strategies for married couples?

How we can help

As you prepare to get married, you may need to review your finances and make financial decisions as a couple. Things to consider are your financial situation, needs, goals and objectives, as well as your insurance, investments and Wills.

We can:

  • Review and help you set goals and timeframes.
  • Review and analyse your joint income and spending patterns.
  • Review financial commitments and debts.
  • Review your individual and joint investments.
  • Identify opportunities to save money.
  • Recommend savings or investment products to achieve your goals.
  • Review, recommend and arrange appropriate insurance.
  • Identify if you need to talk to a solicitor about a new Will.

Becoming a Parent – The First Years

You often hear new parents say that having a baby is an amazing, life changing experience. Nothing is ever the same again! At a time when every aspect of your life is changing, the last thing you want to think about is money. But while there may not be ways to reduce the financial commitments, there are things you can do to plan and manage them more effectively.

Common questions to consider

  • What happens to my job while I’m on parental leave?
  • Can I afford to be off work for a year?
  • Will we be entitled to any government benefits?
  • What is the Baby Bonus tax refund?
  • How much do I need to earn to make going back to work worthwhile?
  • What happens to my super while I’m on parental leave?
  • My insurance premiums are paid through my superannuation. What happens to my insurance cover while I’m on parental leave?
  • Do I need a Will?

How we can help

When you are planning a family you may want to consider the financial costs and consequences. Things to think about are how much you’ll need to live and whether you need a savings strategy.

We can:

  • Develop a plan for your goals and your timeframe.
  • Set a budget prior to having a family or if you’re off work with a family.
  • Develop an investment strategy to accumulate money for long term goals like private education.
  • Review, recommend and arrange appropriate insurances.
  • Recommend superannuation strategies to help you continue saving for retirement and minimise the total tax you are paying right now.
  • Recommend if you need a Will or need to review your Will.
  • Advise you when you need to see an accountant or solicitor.

Educating the Children

A good education is one of the best starts you can give your child, but although it doesn’t have to, it can cost a lot of money. A little research and planning now could save you some financial worries in the long run. The earlier you start to save the better.

Common questions to consider

  • How much will my children’s education cost?
  • How do I invest for my children’s education?
  • When should I start investing for my child’s education?
  • What types of savings plans are available?
  • Should I put investments in my child’s name?
  • My child starts secondary school next year. Is it too late to start saving?

How we can help

It is a fact that children become more expensive as they get older. At the same time you might alter your work arrangements and your income could change. You’ll need to make a plan for this. You may need to protect your family with insurance and a comprehensive Will.

We can:

  • Develop a plan based on your goals, situation and timeframe (eg how much it is likely to cost to educate your child or upgrade your house).
  • Set an investment and budget management strategy to accumulate money for your goals.
  • Review, recommend and organise appropriate insurance.
  • Recommend superannuation strategies to ensure you’re still saving for retirement and minimise the total tax you are paying right now.
  • Recommend if you need a Will or need to review your Will with a solicitor.

Getting Divorced

It’s a sad fact, but according to figures released by the Australian Bureau of Statistics in September 2004, roughly one in three marriages ends in divorce. In the midst of all the emotional turmoil caused by separation and divorce, there are also financial issues to contend with.

At such a time of monumental change, how do you take control of your finances and get organised so you are appropriately protected?

Common questions to consider

  • How do I start to become financially independent?
  • What government benefits am I entitled to?
  • Am I eligible to a part of my ex-partner’s super?
  • I have children and I’m the primary breadwinner. What are my financial commitments?
  • Will I need to get my own life insurance?
  • Do I need to change my Will?
  • What should I do with my divorce settlement?
  • Where can I go to get more help?

How we can help

If you divorce it’s wise to reassess you financial situation and goals.

We can:

  • Review your financial situation after your divorce settlement.
  • Help you set new financial goals.
  • Identify your income and financial commitments.
  • Develop a new budget and plan to achieve your new goals.
  • Review, recommend and organise appropriate insurance for you and any dependents.
  • Review your superannuation and retirement savings.
  • Recommend ‘catch up’ strategies for retirement savings if you need it.
  • Review your finances to see if you are entitled to any social security benefits.
  • Recommend if you need to meet with a solicitor to create or update a Will.

Taking a Redundancy

Where there were once jobs for life, it’s now a fact that the average person will face redundancy 3 times during their career. Along with looking for a new job or perhaps starting your own business or deciding to retire early, what do you do with the lump sum payout you receive?

Common questions to consider

  • What are the elements of my redundancy payment?
  • What is considered an ETP?
  • What tax concession do you receive on your ETP?
  • How is the ETP paid?
  • How to I make sure I get the most out of my payment?
  • What do I do with my super?
  • I’ve decided I want to roll over my ETP. What do I do?
  • Am I entitled to Centrelink benefits?
  • What if I want to use redundancy as an opportunity to retire early?
  • Do I need to review my insurance arrangements?

How we can help:

  • Review your payout calculation.
  • Identify the tax concession components and the tax-free or tax reduced amounts – the Eligible Termination Payment components. Review your goals and identify options for how to use the money.
  • Calculate how much you can rollover into superannuation to minimise the total tax you pay.
  • Review any insurance you have through superannuation and advise if you can continueinsurance cover even though you’ve left the fund.
  • Review any new insurance requirements that are necessary.
  • Estimate how long you can live on your payout based on current expenditure and plans.
  • Establish a budget to live on your payout and any other income.
  • Develop options to achieve a life change in the timeframe you want.

Frequently Asked Questions

Q. Why should I spend money on a financial adviser?

A. . Most commonly, individuals seek the help of a financial adviser for retirement planning. But we can do much more than that. You can get help with investment savings, financial protection, work on budgeting and household finances and even get out of debt with the help of a financial adviser.

Q. Can I get help with restructuring my debts?

A. Absolutely. You can work with a licensed financial adviser to restructure debt, to accelerate debt reduction and possibly to make it more tax efficient. We have access to programs most individuals can’t get into on their own. We also have connections in the financial industry most people simply don’t have.

Q. I Why should I see a financial adviser for my personal insurances?

A. A licenced financial adviser can help you analyse and determine the cover you need to secure and protect your family and yourself financially in case of illness, disability or death. We have access to advanced comparison tools on a range of well reputed insurance companies in order to advise you on the most relevant cover at a competitive price. We may also help your application through underwriting for better cover. And we may assist you when you make a claim.

Depending on the help you are looking for, assistance with your insurance needs by a licenced financial adviser may not be at any additional cost to you.

Possible Risks

Market risk, or “principal risk” is the chance that a downturn (or a bad investment) chews up your money. It’s there for stocks, property, infrastructure, commodities and bonds.

Inflation or purchasing-power risk for most people is the “risk of avoiding risk” — the opposite end of the spectrum from market risk — the possibility that you are too conservative and your money can’t grow fast enough to keep pace with inflation.

We will help You to understand and utilise:

  • Wealth creation
  • Tax effective investment strategies
  • Money management
  • Superannuation
  • Self Managed Super Funds (SMSFs)
  • Financial protection
  • Retirement planning
  • Aged Care

To find out more:

Let`s start planning your financial future today

1

Talk

You explain your needs, objectives, dreams, and fears. Then we’ll design a personalised strategy and plan for you that explains how we can help you reach your financial goals.

2

Act

We work together to implement the plan. Then we keep you updated on where you stand and adapt the plan as life happens.

3

Relax

We’re here for you whenever you need. Call us at any time, for any reason. Buying a property? Ask for advice. Been offered a new job? Made redundant? Give us a call. Early retirement? Loved one in need of Aged Care? We`ll help you figure out how to structure the finances and pay for expenses!

Get Started Today!