Is There A Realistic Pathway To $1.6m In Superannuation For Everyone?

From a purely academic perspective, achieving $1.6m in superannuation or something close to it, primarily depends on a range of factors including but not limited to contributions, earnings (net of fees) and the timeline to retirement.

The mistake many make is that they do not start taking action on their superannuation contributions or retirement planning until it is far too late.  Don’t let this happen to you!

To benefit from what Albert Einstein referred to as the eighth wonder of the world (compound interest), there is a need to start saving as early as possible and with additional tax effective contributions earning solid and consistent long term net returns.  You must definitely not make the mistake of starting too late with additional contributions or having poor net returns over the life of your investments.

The Australian Securities & Investment Commission (ASIC) publish a very useful calculator where you can play around with some scenarios associated with saving in superannuation for retirement and also funding a pension from your superannuation in retirement.  The calculators will hopefully shock you and spur you into action!

https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/super-and-retirement-calculators

While there are some who suggest the current 9.5% Superannuation Guarantee is enough, we strongly disagree.  By simply relying on a handout from your employer as part of your total employment package you really are just setting yourself up for an underwhelming experience in retirement.

Retirement planning and superannuation are no different to many other important things in life: your personal contribution and efforts often determine in a very significant way the level of success.  If you do not make a meaningful contribution to the important things in life the outcomes will often be disappointing.

HOT TIP: Seize the moment, take control and make sure you have a goal for your superannuation and retirement.

www.financialadviceshop.com.au

#retirementgoals #superannuationsavings #netsuperannuationreturns #superannuationfees #superannuationgoals #financialadvicecanberra #financialadvisercanberra #financialplannercanberra

Disclaimer: The information in this post is of a general nature only and has been provided without taking account of your objectives, financial situation or needs.  No representation is given, warranty made or responsibility taken about the accuracy, timeliness or completeness of the information. Because of this, we recommend you consider, with the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

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When It Comes To Long Term Investing, Is A Low Cost Index Option Too Good To Ignore?

https://static.vgcontent.info/crp/intl/auw/docs/resources/2018-index-chart-brochure.pdf

 

www.financialadviceshop.com.au

 

Disclaimer: Past performance is not a reliable indicator of future performance.  Always seek advice from your professional adviser before comparing investment options and making investment decisions.

#financialadvicecanberra #financialplannercanberra #financialplanningcanberra #finncialadvisercanberra #indexinvesting #indexinvestments

In Good Times And In Bad, A Little Wisdom From The Experts Might Make All The Difference!

When it comes to investing, there are a number of basic principles that can potentially assist in making the experience a more successful one.

At The Financial Advice Shop we believe that “wisdom” is potentially a very important factor in successful long term investing and so do the experts.  To learn more, take the time to read the following article:

http://davisadvisors.com/davissma/downloads/WGI.pdf

ABOUT THE FINANCIAL ADVICE SHOP:  We are a leading, independent and experienced provider of strategic financial planning solutions for the over 50’s with a specific focus on strategy and cost effective long term investment solutions.

www.financialadviceshop.com.au

#independentfinancialadvice #financialadvicecanberra #financialplannercanberra #financialadvisercanberra #independentfinancialadvicecanberra

Disclaimer: The information in this post is of a general nature only and has been provided without taking account of your objectives, financial situation or needs.  No representation is given, warranty made or responsibility taken about the accuracy, timeliness or completeness of the information. Because of this, we recommend you consider, with the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

With The Banking Royal Commission In Full Swing, Isn’t It Time For You To Get A Second Opinion From Someone You Can Trust?

The issues being current raised in the Royal Commission come as no surprise to many who are in the know but are kept silent in perpetuity through legal documents containing things like confidentiality clauses.  In the end I felt obligated to start my own Financial Advice business and ultimately decided to make the necessary business changes to be able to call myself an independent financial adviser.

 

The problem for most people is that they don’t have a point of reference.  People instinctively want to trust others but sadly this is not a sound strategy as it turns your financial future into a lottery: you might get lucky and find a great financial adviser or you might not.

 

A far sounder strategy is to seek a second or third opinion and from that process work out the questions you really need to ask and have answered.

 

If the Royal Commission hasn’t motivated you to take action and get a second opinion or third opinion then I’m not sure what will.  If you don’t take an interest in your own affairs, rest assured no one else will either.

 

They say that the definition of insanity is doing the same thing over and over and expecting different results.  If this sounds like you then its probably time for you to stop doing what you have always done with your financial affairs and instead explore ways to do things proactively and very differently.

 

At The Financial Advice Shop there is something very important that differentiates us from our so called competitors: we don’t want to be known for being big, we want to be known for being awesome so our clients are never just a number.

 

HOT TIP:  The need for honest and practical financial advice has never been greater, so if you are over 50 and have significant wealth, contact The Financial Advice Shop without delay to see if we can assist with a cost effective Financial Advice Health Check to ensure you better understand all of your future superannuation contribution and investment options.

 

ABOUT THE FINANCIAL ADVICE SHOP:  We are a leading, independent and experienced provider of strategic financial planning solutions for the over 50’s with a specific focus on cost effective investment options.

 

www.financialadviceshop.com.au

 

#independentfinancialadvice #royalcommission #financialadvicecanberra #financialplannercanberra #financialadvisercanberra #independentfinancialadvicecanberra

Dare To Dream!!!

Like having a personal trainer, accountability and structure can make the difference between a dream, and a dream that becomes reality.

It’s Financial Planning Week and the theme this year is “Dare to Dream”. Did you know that a massive 63% of Australians have made “no plans” or “very loose plans” to practically achieve their dreams! However a professional financial planner can put you on the right track to achieving your goals.

To start your journey to improve your financial situation, click on the link below to visit our website and download the latest research from the Financial Planning Association of Australia to better understand the Financial Advice requirements of everyday Australians.

When you are ready to take action, contact The Financial Advice Shop to see how a Certified Financial Planner® could help you turn your dreams into reality.

www.financialadviceshop.com.au

#daretodream #financialadvicecanberra #financialplanningweek

Make 2016 The Year You Stop Making Other People Rich And Start Taking An Interest In Your Financial Advice Future!

If you studied your financial advice affairs very closely and knew what to look out for, you might be astounded at how many people and organisations silently benefit from your investments in ways you have not thought possible.

Every dollar that someone discretely takes from your superannuation as a fee, commission or other payment is a dollar less for you to spend in retirement. Additionally, you shouldn’t think you can rely on The Future Of Financial Advice (FOFA) Legislation to protect you because it almost certainly will not.

If this topic strikes a nerve with you then it’s time you stopped thinking about it and started doing something about it. If you suspect your fees are too high then it’s definitely time for you to do something about it.

What should you do next? It’s really simple: if you have a reasonable superannuation balance and wish to cost effectively invest with sound financial advice for a more secure financial future, contact us today to see how we can help you understand things more clearly.

www.financialadviceshop.com.au

#financialadvicecanberra #financialadvisercanberra #financialplannercanberra

An Experienced Financial Adviser In A Boutique Financial Advice Business Can Be A Very Powerful Combination!

To be able to feel truly confident that you can trust your financial adviser, you have to be sure they are able to influence important business decisions that affect you and act in your best interests.

If your financial adviser is a Director or a key senior manager in the financial advice business then they can possibly influence important business decisions that affect you.  If they are simply an employee then it is possible they are compelled to follow company policy that they do not fully support and may not be able to share their true feelings with you.

The Future Of Financial Advice (FOFA) Legislation was intended to fix many of the perceived problems associated with Financial Planning.  Unfortunately, while large institutions are able to deliver financial planning services and also be involved in the manufacture of in house investment products, FOFA will to a large degree continue to be ineffective.

We have all seen the very effective industry super fund advertisements where the point is clearly suggested that big institutions offering multiple services may not be acting in clients best interests when it comes to superannuation.  Keep this in mind if your adviser starts suggesting you access a broader range of in house services.

When considering multiple services from one business, consider whether the business can provide all of the professional services you require, are the absolute best providers of those services and are also the most cost effective?  A highly unlikely scenario we would suggest, so always consider comparing another specialist professional in your area of need that is not part of a large institution.

It might be convenient for you to access services from a so called “one stop shop” but you are likely to get better results by allowing your trusted adviser to refer you to other externally road tested professionals where there is great service and knowledge, and no incentives or conflicts of interest associated with the referral.  In a large institution, you should expect in house referrals are linked to performance bonuses or other similar incentives which create conflicts of interest.

If you want to play an important role in changing the financial planning landscape for the better, consider distancing yourself from the large financial advice institutions and aligning yourself with a smaller financial advice business but only make the switch if you are confident in the proposal and it makes sound financial sense.

What should you do next?  It’s really simple: make contact with us to see how we can help you understand things more clearly.  Our clients are very confident in our integrity, knowledge, experience and capabilities.

www.financialadviceshop.com.au

#financialadvicecanberra #financialadvisercanberra #financialplannercanberra #financialadvicedickson #financialadviserdickson #financialplannerdickson