Developing your personal financial plan to protect your future
By putting yourself in the hands of an expert, you can spend more time building wealth and less time worrying about the complex details of your insurance, investments, superannuation and other financial matters.
Good financial advisors will also take a genuine interest in your goals and aspirations. They can be an excellent sounding board to help you work out what you really want in life and strategically plan your insurance requirements so you are adequately covered without over paying or doubling up.
Working with a financial adviser
Once you chose a financial adviser, here are some of the topics you should be discussing as you build your personal plan:
- Defining your financial goals, both short and long term, so you have targets you can work towards. What kind of life do you want to create? This is the foundation of your plan and a good financial adviser will allow a generous amount of time for this vital stage of the process
- Talking about the different types of investments - term deposits, managed funds, shares and so on - and putting investment strategies in place that suit your financial goals
- Talking about investment planning and how it can help put you in a better position to make decisions about your future
- Agreeing on and managing your annual budget so you can buy the things you want while still saving for your future
- Looking at your personal insurances such as income protection insurance to ensure financial security if the unexpected happens
- Looking at debt reduction and tax efficient strategies so you can pay off any debts sooner and have more cash to save or invest
- Reviewing and consolidating your superannuation into one fund if you have multiple funds. This makes your super easier to manage and ensures you aren’t paying excess fees and charges
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Want more information on how your can increase your wealth, protect your assets and build a strong financial plan for the future?
Instantly download the FREE Lantern Advisory Ebook "Introduction to Financial Planning and Market Update" by clicking the image below. We provide you with information on what should be in your financial plan, how to set one up, the benefits, pitfalls to avoid and some market opportunities.
You are also welcome to contact Ian Walker or James Cavanough from Lantern Advisory on 07 3002 2690 for a free and confidential discussion regarding your personal situation.
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