Superannuation
In its simplest form, superannuation is ‘your’ retirement savings tool, and it’s important to understand that it’s ‘your’ asset.
In our eyes, we believe each of our clients need to have a good understanding of how their superannuation is situated and that they can have a say in how these savings are invested in terms of the level of investment risk that their savings are exposed to. We also feel that it is important that you understand the fees and costs associated with your superannuation savings.
Many people become confused about what superannuation is, and the rules around how to use it.
This is why we are here to help you. Superannuation doesn’t have to be confusing. Let us help you to understand it, and how you can use superannuation to create some investment value in your long-term financial future.
Retirement Planning
Most of us are seeking a secure financial future in our retirement years but many of us don’t know if we are on track for this. Retirement planning includes discussing how to structure your savings and assets in the right way for the type of ‘retirement’ lifestyle that you seek. It can include the use of superannuation, or utilizing other assets that you may own to generate income in your retirement years.
We can discuss all of these things for you, as well as providing you with direction on how to maximise Centrelink benefits, and importantly, ensuring you have all of your other financial affairs in order, including your estate planning.
Investments/Wealth Creation
Investments can come in many forms: It can be an investment property, a share portfolio, superannuation, or savings in the bank. It is important that you understand the differences between the investment options and the risks that are associated with each. We can help you grow your knowledge on this, as well as how to structure your investments to maximise your wealth creation potential to meet any future goals that you may have. We can also help you to best utilize any surplus savings that you may have, so that all of your savings are constantly working for you.
Life Insurance
Whether you have a situation where you are by yourself, have a partner, or have a family, the concept of life insurance is important to consider for your financial security.
We can talk to you about options on how to continue to generate an income if you unable to work due to injury or illness. Should you be diagnosed with a major disease, it is possible to obtain solutions that can provide you with a lump sum to help cover your medical costs or help cover your loan repayments while you are focusing on getting medical attention. There are options to provide for you and your family’s long-term financial position should you be permanently disabled, or worse still, should you pass away. There are also life insurance policies that can provide cover for your children, should they become diagnosed with a major illness. Such policies can provide a financial safety net for you, in a situation where you need to take time off work to be with your child while they are getting the medical attention that they need.
As you can see from the above information, there are a number of options available to help give you peace of mind, and we are here to help determine what is the most appropriate solution for you.
Estate Planning
This is an area of people’s finances that is often ignored. While this may likely be due to the fact that people don’t want to think about this part of their life, we see it as a critical part of the financial advice process.
We need our clients to have certainty that should they pass away, that they have the sufficient instructions in place that their assets that they have been working towards all of their lives, are passed on to the correct benefactors.
We provide education and direction in this area. We will talk to you about nominating a beneficiary in your superannuation fund, the importance of getting a Will and Power of Attorney in place, and how the various ways that these instructions are made can impact how your assets are received by your benefactors.
