INSIGHTS

In the Budget released in May, there were a few lesser known changes that apply to aged care. In particular, the government has proposed to save $1.2 billion over the next four years through changes in the Aged Care Funding Instrument (ACFI).

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.

Superannuation is a way of putting money aside now so you can live comfortably when you are retired.

Investment planning involves buying into an asset class on the open market - cash, fixed interest, property or shares - with the expectation that the value will increase so you can sell for profit in the future. Therefore with successful investing, you are able to accumulate wealth.