Your Financial Survival Guide for the Festive Season
It’s that time of year again, Christmas is approaching! While it’s an exciting time of year and can be full of joy and wonder, the Christmas period can also be a time of financial stress for many Australians. The kids are on school holidays, and the pressure to buy Christmas presents for every man and their dog has set in; you might have reduced hours at work due to the holiday shut down; and spending on holiday events or trips away is all putting pressure on the pockets.
How Much is Enough for Retirement?
If I had a dollar for every time I was asked by a client “how much do I need to retire?” I would be able to retire myself! The truth is there is no one right answer to this question as retirement will look different for everyone
Why Do I Need a Will?
I want to help people live a life by design. Yet, after all this time, working with people on goal setting and structuring their finances; I continue to see an especially important piece of the planning puzzle either misunderstood or completely missing… A Will!
Equity: Your secret weapon for growing your wealth
One of the key benefits of owning growth assets such as property is that they… grow! Sounds simple but one of the keys to generating wealth over the long term is acquiring assets that will grow at a rate higher than the rate of inflation!
For most Aussies, they will start this journey with the purchase of their first home to provide a stable base for their family. We often start with a very small deposit, say 5%-10% and over time, depending on the suburb we bought in we hopefully see our home loan shrink, and our property value grow!
The part of the property we own (not the bank) is what we call our equity i.e. if we were to sell our property our equity is equal to the cash we can bank after the sale (excluding sale costs) i.e. your property value less what you owe.
To focus on building wealth the first steps I discuss with my clients are:
Create a surplus on your budget and
Build equity in your assets by accelerating the reduction of debt
When you are successful at these two steps you open the door to investing and the good news is you don’t have to wait until the mortgage is cleared!
The Value of Financial Advice
We act as a trusted sounding board for processing your big decisions. We educate you about complex financial concepts to empower you to understand your situation better. We help you maximise what you have by making smart and informed choices and avoiding emotion-led mistakes. We keep you accountable in your progress toward your financial and lifestyle goals. We keep an eye out for anything you might be missing.
5 Things to Consider when Looking into Aged Care
If you are worried about the need to access aged care, you are not alone. When the time comes it can be daunting, with a lot of new information to take in and many decisions to make. The responsibility to make the right decision for yourself, or a loved one, may weigh heavily on your mind. Fear of the unknown adds to stress levels, so start your planning early. Don’t wait for the crisis to occur.
Should I invest in shares or property?
How to create a budget that works for you
Your income is your greatest tool for building wealth, it’s important to make the most of it! So where do you begin?