What is Financial Planning?

 The number one question we get asked is “Will we be able to retire by age ____?” Regardless of age, most people have some sort of an idea of what they want their retirement to look like, however haven’t got a great idea of what the path and strategy looks like between now and then. One of our favourite areas Luke the financial planner likes to work with clients is retirement planning, which involves having detailed discussions around what retirement looks like for them, and then building out comprehensive and personalised projections to demonstrate how they’re tracking towards these goals. 

 Nearly everyone has a superannuation fund, but many fail to realise just how significant this asset will be by the time they reach retirement, and just how tax-effective of an investment vehicle it can be. We regularly provide advice to clients regarding superannuation with the aim to reduce fees, invest appropriately and contribute effectively, subsequently setting the trajectory for a higher superannuation balance in their future retirement planning. 

 What would the future look like if you were unable to work for an extended period of time or if you passed away? It’s all well and good to implement plans and strategies to grow our wealth, but it’s just as important to have mechanisms in place to protect your self, your family and your business in the event of injury, illness or death. We help you understand insurance planning including the different types, review your existing cover and take you through a personalised needs analysis to ensure you have appropriate protection in place, suitable to your situation. 

It’s difficult to plan for the future effectively without a comprehensive understanding of what your cashflow looks like. Early in the advice process Luke the financial planner will complete a Living Expenses Budget with our clients, which forms a fundamental piece of the overall strategy. We also provide advice on bank account structure, allowing clients to allocate a set amount regularly to individual accounts with a specific purpose, aiming to automate their cashflow strategy. 

 Taking on debt at some stage in your wealth creation journey is almost inevitable for the large majority of the population. We assist clients with reviewing their existing loan arrangements and putting plans in place to reduce and structure these debts in the most appropriate way. 

 Whether you want to accelerate the growth of your wealth, invest funds for your kids future or merely wish to diversify your overall asset base, we regularly advise clients around establishing a shares or managed fund portfolio. There’s many factors to consider when investing in the share market, such as the investment purpose, level of investment risk, asset class exposure and the amount and timing of the investment strategy. We navigate these factors with you to ensure that the recommended share market portfolio is appropriate for you.