These are the services I offer, each heading has a quick explanation on what it is, and some general ideas on how I could help you in this area. I look forward to speaking with you in depth, about these strategies to help you achieve your financial goals.
SUPERANNUATION
is a system of saving a percentage of your income into a fund to support your financial needs in retirement.
Choosing a superannuation fund that works for you depends on a range of options that require consideration.
What are you going to pay for?
What fees and costs involved in a superannuation fund can provide different investment options that you may or may not want or require.
What features do you need and what features do you want, how do you determine what they do for you and is the cost reasonable.
The control to either select a simple, low-cost investment option one that offers specialised investments.
risk management/personal insurance
Personal Insurance is a type of cover that provides financial security to you and your family for events such as a serious injury or illness, loss of ability to earn, total and permanent disablement or even death.
Determine which insurance types you need
Find the best plans, considering price, features and claim outcomes
Handle applications and secure underwriting
Provide ongoing advice and support as questions arise
Continually review and monitor the market for better plans
Support claim handling and resolution when incidents occur.
Understand which risks to retain and outsource (by purchasing insurance policies)
Quantify the financial risks of death and disability
Maximise tax efficiency when purchasing insurance
Ensure correct ownership of insurance policies
Budget and Cashflow
A cash flow budget is an estimate of all cash income and all cash out goings that are expected to occur during a certain time period.
Detailing incoming funds and sources against outflows
help improve savings and debt reduction to enable the building of wealth.
Dealing with money is a fact of life, yet managing money is rarely taught at school.
Structure and discipline that guides healthy, financial habits and choices on a daily basis.
A clear path to your financial goals, which can include fast-tracking to achieve your goals sooner.
Motivation as you watch your efforts add up (e.g. debts going down, savings going up, bills being paid on time.)
debt RECYCLING
Debt recycling is the process of replacing mortgage debt (non-deductible), with investment debt(deductible)
Allows clients to start investing for the future now
Converts Bad Debt (non deductible/ Mortgage Debt) into Good Debt (deductible/ Investment Debt)
Reduces Tax, Increases Wealth and Speeds up Mortgage repayment.
tax planning
According to the Australian Taxation Office "You have the right to arrange your financial affairs to keep your tax to a minimum – this is often referred to as tax planning, or tax-effective investing. Tax planning is legitimate when you do it within the letter and the spirit of the law".
Proactive tax planning enables clients to take advantage of tax strategies and concessions
ensure you know your tax position, well in advance of it's due date.
Maximising opportunities to minimise tax available under the law, assisting you to implement appropriate strategies.
Tax planning is the process used by individuals and businesses to structure their affairs to legally reduce their tax liability and make savings. This is achieved by using deductions, exemptions and structures.
Transition to Retirement, Income Stream
The transition to retirement measure allows people who have reached their preservation age to have access to their superannuation benefits without having to retire or leave their job. This measure allows people to access their super savings in the form of a specific kind of pension or income stream called a TRIS.
Up to age 60, the taxable amount of your income from a TTR pension is taxed at your personal income tax rate, less a 15% tax offset. Then, once you turn 60, the income you receive from your TTR pension is completely tax-free.
Talking to your super fund, as not all funds accommodate TTR income streams
Figuring out if you want to reduce your work hours, or work full-time and salary sacrifice
Thinking about your income sources and calculating your income needs
Finding out what your government entitlements are, as there may be implications
If you have life insurance through your super fund, checking it won’t be affected.
Estate Planning
Estate planning is the act of preparing for the transfer of a person's wealth and assets after his or her death. Assets, life insurance, pensions, real estate, cars, personal belongings, and debts are all part of one's estate.
Planning for the distribution of your estate is a complex but necessary component of your overall financial wellbeing.
requires much more than just preparing a will – especially if you have beneficiaries – and it may involve numerous administration requirements.
careful estate planning can streamline the distribution of your assets as you would like them distributed without fuss, to whom you want them to go to and when you would like them to be received.
It doesn’t need to be and shouldn’t be something that is stressful at a time that will already be stressful.
Self-Managed Superannuation Funds (SMSFs)
A self managed super fund (SMSF) is a superannuation trust structure that provides benefits to its members upon retirement. The main difference between SMSFs and other super funds is that SMSF members are also the trustees of the fund. SMSFs can have between one and four members.
Can be a good way to manage your super depending on a few factors,
Cost (fixed, not a percentage)
Transparency (you know everything, no hidden surprises)
Control (you choose what and when you invest into something)