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Financial Planning & Advice

Wealth Creation

Wealth Creation – some people jump to the concept, yet for others the thought alone can start your head spinning, or worse, your stomach.

Rest assured, no matter what your tolerance for risk is or your attitude for financial matters is, there is a solution for you.

The story of creating wealth

The earlier in life you start saving and investing the better. This is because of the impact of time and compounding have on the value of your money. Interest accumulated over time through shares and managed funds will be earned on the original money you invested, plus additional investments, plus all the interest previously accumulated. Also, the sooner you begin to save, the more experienced and attuned you will become to the activity.

Time in an investment is much better the time on an investment.

Long term investment will produce income, income growth and capital growth.

Start saving

Regular investing is a particularly effective and convenient way to help you reach your financial goals. Even a little money invested regularly can grow into a tidy sum over time.

 The easiest way to save is through a regular savings investment plan.

By investing an amount each month, you will be well on your way to developing substantial savings, and this also introduces you to the world of investing.

A regular savings plan over the long - term will help smooth out your purchase price of those investments through the market’s ups and downs, thereby reducing the risk of investing in volatile markets.

Maximize your savings and diversify your investments

 Always maximize the return on the money you do have by opening higher interest earning savings accounts, cash management funds and term deposits.

The wisest investment strategy follows the old adage – “don’t put all of your eggs into one basket”. Your investments should be made following a clear long term strategy that diversifies your risk through spreading your investments. In addition, the best strategy for you takes into consideration your investment time frame, goals, current financial situation, and importantly, your risk profile.

Protect what you have

Savings plans, superannuation, property, direct shares and managed funds are all tools that help create wealth and achieve financial goals  - especially in retirement.

However, as your savings and investments grow your replacement risk becomes greater if something troublesome were to happen to you and your ability to earn money.  This is why you often hear it said “a financial plan is not complete without wealth protection”

It is important that you protect your wealth and your family both now and in the future. This is normally achieved through the use of various risk insurance products. We will assist you with the most appropriate type and level of protection you require.

Tips for everyone

  • define your goals and financial needs on a regular basis – things change and so can priorities
  • know and understand your own risk tolerance
  • set a time frame for each of your goals
  • seek advice
  • be realistic
  • balance your savings and investment strategy with your goals, time frame and risk tolerance
  • for those who are between the ages of 35 and 55, your financial plan should include a plan for your retirement and it should be a high priority.

Retirement Planning

Retirement planning is about replacing your main source of income (currently your salary and wages) once you stop working with another source of income – general income from investments, pensions and /or capital draw downs.

There is considerable debate on the amount of income that people need to live on in retirement. A number of factors influence the answer to the perplexing question. But most importantly, the answer lies in what type of lifestyle you would like in retirement - and importantly – what lifestyle you can afford.

The amount of retirement income you need is influenced by the lifestyle you would like to have whilst the level of income you receive  will be determined by;

  • the amount of capital you have to invest to produce an income (such as superannuation)
  • your willingness to allow your capital to run down  during    retirement  (as opposed to preserving all or part of it to pass onto the next generation)
  • your eligibility to receive government benefits  to supplement other income you may receive, and the length of time the income will be paid to.

Retirement income planning is very much influenced by your   personal needs and circumstances.

The earlier you start planning for retirement income the better.

Whether you have already retired or are not planning to retire for another 20 to 40 years – a visit to a financial planner can make the difference between just surviving in retirement and living life to the fullest.

Take control of your life and contact us now.