You can benefit from a professional financial adviser whatever your age or financial situation. When tailoring a plan to suit your individual financial circumstances and short, medium and long term goals, a financial adviser considers the whole spectrum of financial opportunities, including (but not limited to) the following areas:
Financial advisers understand what investment opportunities, managed funds and/or shares, are appropriate for your individual circumstances by identifying a ‘risk profile’ for you. This profile considers your personal goals such as saving for a house, your child’s education or retirement as well as the timeframe you wish to invest for and how much risk you’re willing to take. A financial adviser may recommend a few options or a larger range of investments for you – what is known as an ‘investment portfolio’. This represents the solution to your investment needs. A financial adviser’s recommendation will also consider tax-effective solutions for your situation.
Insuring yourself and your income can be more important than insuring your car, home and contents. You dream of reaching your financial goals and being able to retire, maintaining your lifestyle. But what would happen if you injured yourself and lost the ability to earn an income, or pay the bills, or something even worse? A financial adviser can identify what level of insurance suits you so you have the peace of mind that your family and your lifestyle are looked after under any circumstance.
For most people, super can be one of their biggest long-term investments. Obtaining advice about super from a financial adviser can lead to a better outcome for you. A financial adviser who knows your individual circumstances and retirement goals can recommend a range of tax-effective strategies that you can use to get the most from your super savings. Financial advisers are also able to help you with a range of super-related areas including:
- finding a super fund that suits your needs
- consolidating your super funds into one to potentially save fees
- putting in place super strategies to boost your super balance
- structuring your super so your beneficiaries are taken care of
- providing guidance on Self Managed Super Funds (SMSFs).
An important part of planning for your retirement involves working out how much money you need for the retirement you want. By what age would you like to be fully retired? Would you like to transition into retirement by reducing the hours you work? What are the most tax-effective ways to make contributions to your super?
By obtaining the help of a financial adviser early, you can take advantage of the strategies available to help you afford the retirement you want.
For more information and resources on investing and retirement planning, visit our Investor Knowledge Centre