A financial plan can start with your list of objectives written on the back of an envelope and when we add to it details of your available income and anticipated costs, we have the makings of the plan.
Once we know where you want to go and how you can get there, we address issues such as the level of risk you are prepared to take to get there. (Not unlike how fast you drove the car on the road trip we talked about in the first paragraph!!)
So, after analysing your financial situation and reviewing your personal insurance needs to ensure you are protected against unforeseen events that may affect your earning or saving capacity, we can then look at a strategy of investing to see how long it will take to achieve your goal.
The strategies discussed may include negative gearing or superannuation as well as debt reduction or income splitting. There may be a focus on tax minimisation if you are a high taxpayer. You may have a preference for property over shares or vice versa.
All of these issues are addressed in the formulation of a financial plan.
Over time your personal situation may change or your investments may need fine-tuning. At KWA Financial Services we offer an on-going review service to ensure you achieve your personal financial goals. We’re not going anywhere.