Financial Planning

Financial advice is determining how an investor is going to meet their goals and objectives. It is about helping clients define their goals, gathering information and analysing data to make a plan, then implementing the plan and monitoring the results. It is also monitoring and updating goals and objectives as clients move through different phases of life.

'Failing to plan is planning to fail.' It's a cliché but when it comes to investing money, setting and then attaining long term financial objectives, then it makes a lot of sense to have a plan. Also, history shows time and again that the sooner you can start the better the outcomes.

Attaining long term objectives is better served by setting some short term goals. For example, such milestones might be set for 1-3 years, then 4-6 years and then 7+ years.

Our primary aim is to help you attain your financial objectives.

A financial plan will help you clarify your financial goals and aspirations, whilst taking into account potential milestones along the way, such as children, education, lifestyle and retirement.

We take the time to gain a full understanding of your current situation and determine your short, medium and long-term financial and lifestyle goals. Next, we assess the challenges that might slow things down and your attitude to risk.

Finally, we map out a detailed plan from first steps through to long-term strategies to achieve your objectives and work with you to optimise and manage your plan.

AustraliaWide Financial Planning can assist you with:

• Confirm your goals and aspirations
• Assess your individual risk profile
• Develop an effective financial plan
• Select suitable investments
• Regularly review your investment performance

Contact us today to discuss how we can work together: (03) 8672 8476 or email us at admin@awfp.com.au

Superannuation

The Australian Superannuation system is one of the most advanced and complex in the world. Not only is it inherently complex, but the legislation surrounding it continues to change. No wonder Australians, just like you, find it difficult to understand how it relates to them and how to use superannuation to maximise their retirement nest egg.

So many questions:

• How much is enough for retirement?
• Self managed, retail or Industry fund, which super fund is right for me?
• How do I structure my superannuation assets?
• What are the trade-offs when I contribute?
• How do I make my contributions tax deductible?
• How do I use Superannuation to reduce my overall tax burden?
• How does my superannuation relate to my family and estate plan?

These are just some of the questions we find solutions to for clients every day. Superannuation is not simple, but together we can develop a strategy to ensure your superannuation is properly structured with a strategy to get you where you want to be in life.

The income you have available for your retirement will depend on factors such as your accumulated assets and expectations about your lifestyle in retirement. Unfortunately for many, simply relying on employer contributions may not be enough and you may need to look at strategies such as additional contributions or salary sacrifice.

It is always best to start saving and planning for your retirement as early as you can. AustraliaWide can help you implement the right strategies to help you achieve your long term financial objectives.

Contact us today to discuss how we can work together: (03) 8672 8476 or email us at admin@awfp.com.au

Retirement Planning

Planning for your retirement

More and more people are realising that it is essential to plan well for their retirement.

It’s not just thinking about what to do with your money when you retire but how to maximise what you will have when you begin your retirement. To achieve this goal requires quality advice in the years leading up to retirement, the more the better. Time is needed if various strategies are to be implemented to make the most of your earnings in the pre-retirement period. The longer you plan for retirement and employ professional assistance then the greater the chances that your goal of a happy and prosperous retirement can become a reality.

Giving yourself enough time to plan your retirement is imperative but doing it right is even more so. There are many complex considerations to be managed and it is our job to ensure that your retirement goals and objectives can be met.

A wealthier retirement

Our approach to retirement planning is precise, methodical and generally involves:

• A thorough and detailed review of your current financial resources and commitments
• Gaining a detailed understanding of your future lifestyle and financial goals and objectives as well as any foreseeable events that may affect your future plans
• Financial modelling to forecast potential investment outcomes and income streams from various investment strategies
• Assessment and enhancement of Aged Pension and Centrelink entitlements
• A review and assessment of these findings to determine an effective way forward
• Consolidating our recommendations into a single strategy document for your review and consideration.

Contact us today to discuss how we can work together: (03) 8672 8476 or email us at admin@awfp.com.au

Self-Managed Super Funds

Self-Managed Superannuation Funds (SMSFs) offer a good strategy option for many individuals, families and small business owners to build tax effective wealth and to protect assets over time. SMSFs are becoming popular for those who are ready to take control of their own super investments as they give you ultimate control and flexibility to manage your retirement benefits.

It must be noted though, that you will have increased responsibilities as a trustee of the fund. As a SMSF Trustee you need to keep up to date with all required regulations and keep up with the fast paced financial markets.

AustraliaWide can work with you to understand your personal financial situation and decide whether a SMSF structure is appropriate for you. We will also make sure your assets are invested in the most effective way to maximise your retirement benefits.

Should you wish to consider establishing a SMSF then we can help with:

• Establishing your fund
• Annual Compliance Services
• Portfolio Administration Services
• Pension advice
• Superannuation Advisory Services

Contact us today to discuss how we can work together: (03) 8672 8476 or email us at admin@awfp.com.au

Risk Insurance

What is insurance?

Insurance is a form of protection – a way to protect yourself, your family and the things you own if something goes wrong. It enables you to replace or repair your assets, whether those assets are your belongings or your capacity to earn income.

Everybody’s circumstances are different, but insurance is important for everybody. Your need for insurance will change as you move through the different stages of your life.

There are many different types of insurance, and we can help you find the right level of protection for your needs.

What types of insurances are there?

There are many types of insurance. Car or home/contents insurance allows you to insure your belongings. Personal insurance policies enable you to insure yourself and your ongoing wellbeing.

Personal insurance provides protection against sickness, injury and death, and includes:

• Life insurance
• Total and Permanent Disability (TPD) insurance
• Trauma insurance
• Income protection.

While insurance doesn’t remove the risk of something going wrong, it provides you and your family with protection and financial security if something does happen.

The amount of insurance you need is affected by:

• How much you earn
• Your cost of living
• Your assets
• Your liabilities
• Your relationship status (whether you are married, in a de facto relationship or single)
• How many dependants you have.

We understand that it can be difficult determining the type and level of cover you might need, let alone choosing an insurer. We can assist by helping you determine your needs and recommend an insurer that is right for you.

Contact us today to discuss how we can work together: (03) 8672 8476 or email us at admin@awfp.com.au

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