1. MANAGE YOUR CASH FLOW
Do you have a budget that you stick to? It is simple to say that you will never get ahead if you spend more than you earn, yet in many households spending more than you earn is what happens on a regular basis. Your adviser can work with you to develop a budget, one that suits you and your lifestyle which will set you in the right path to live life now and in the future.
2. TAKE CARE OF YOUR RETIREMENT
You want to stop working when it suits you. Your adviser is there to make sure that – using the right plan – you are able to make an informed decision about when it is the right time for you to retire, and with the retirement lifestyle that you desire. Retiring is not the end of life as you know it but the beginning of life the way you want to live it.
3. PROTECT YOUR LOT
Building your assets is important for your future but protecting your assets is equally important. How much protection is enough? Ask your adviser. If something happens to you – or your partner – how will you continue the life you are used to – how much will it cost to maintain your lifestyle now and the future? If you don’t have enough insurance, your life may face drastic and unpleasant changes just at a time when this would compound other difficulties facing you. Yours and your family life can continue as well as possible in changed circumstances.
4. INVEST YOUR MONEY
Savings is one thing and without the discipline of putting something aside it will not be possible to invest. Investing is making sure your money is working as hard as possible. Where to invest is difficult to know. Your adviser is qualified and has the experience to help you navigate the myriad opportunities available to give you the best options available for you.
5. HELP YOU REALISE YOUR GOALS
Firstly talk to your adviser about your goals – next is to make a plan. The plan may change as will your priorities and goals due to changes in mind and circumstances. Your financial adviser will be able to work with you in adapting and reshaping your plan to meet these new goals. Without this plan goals may be more difficult to achieve.
6. KEEP YOU ON TRACK
Making a plan is one thing but sticking to it is quite another. A financial adviser is your financial coach and will help you stick to your plan.
7. EXPLAIN HOW THINGS WORK
Your financial adviser can assist and explain simple financial terms and concepts and make sure you understand how it all works for example: Gearing, Salary sacrificing, Offsetting, Asset classes, Transition to retirement, Co-contribution, Risk tolerance, TPD and trauma, Dollar cost averaging.
8. ASSIST YOU WITH A SAVINGS PLAN
The benefits of a good, regular savings plan cannot be stressed enough. How do you start? How much can you afford? What will your short-term, medium-term and long-term goals are? What will your savings milestones look life? As a financial coach your advisor can help you develop a plan.
9. PLAN FOR YOUR FUTURE
As your circumstances change you will need to update the way your finances are structured. A financial adviser can do this for you.
10. CONNECT YOU WITH THE EXPERTS
Your adviser is a professional and is connected to a range of other professionals and specialists to refer you to your various requirements. This might include an insurance broker, a mortgage broker, a solicitor, accountant or other. The adviser will also work with your existing professional relationships you may already have being accountant, lawyer etc. The idea is they all work together and make decision that will make your financial strategy more seamless to manage.
11. PUT YOUR DEBT TO WORK
We all have different types of debt – good and bad. Credit cards, Mortgage, Investment loans, Business loans, HECS, Personal loans, Margin loans.
Your adviser can explain the difference and make sure your debt is working for you and your future.