Ever Wished You Could Get A Glimpse Of Your Future To See How Well You Will Survive Retirement?

Recently released Life Expectancy Tables dated 30 October 2018 from the Australian Bureau of Statistics (ABS) paint a thought provoking picture for many Australians.  For those who do not plan diligently for their retirement, their only hope might be that they do not live so long that they run out of money!

As summary of some key points from the 2018 ABS information are as follows:

Age 45: Males can expect to live on average for just under 37 years and females just over 40 years

Age 50: Males can expect to live on average for just over 32 years and females just under 36 years

Age 55:  Males can expect to live on average for just under 28 years and females just over 31 years

Age 60: Males can expect to live on average for just over 23 years and females just under 27 years

Age 65: Males can expect to live on average for just over 19 years and females just over 22 years

Spend a few moments thinking about how much income you might need in retirement. Then have a think about how much superannuation you might need to survive retirement and how much you need to save to achieve it. Finally, click on the following link to run some numbers that are specific to you and make sure you think about investment fees as they can make a huge difference to your retirement outcome.  For many, this task will prove useful and may hopefully spur you into action!

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

www.financialadviceshop.com.au

#retirementplanning #financialadvice #financialadvicecanberra #retirementplanningcanberra

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 and it must not be acted on. 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. Past performance is not a reliable indicator of future returns.

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The Final Report From The Royal Commission Into Misconduct In The Banking, Superannuation And Financial Services Industry Has Finally Been Publicly Released!

The Government is indicating it will commit to take action on all of the 76 recommendation.

https://financialservices.royalcommission.gov.au/Pages/reports.aspx

At The Financial Advice Shop we have reviewed the recommendations and concluded it really is business as usual for us and our clients, as most of the industry sensitive and more controversial recommendations are already our standard policy.

When it comes to Financial Advice, The Financial Advice Shop is a leading force.

Would you be better off partnering with The Financial Advice Shop?

http://www.financialadviceshop.com.au

#royalcommission #royalcommissionrecommendations #financialadvicecanberra

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.

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.

Will The Banking Royal Commission Mean The End Of Aligned Financial Advice From The Bank’s And Other Large Institutions?

It is probably a big mistake to assume that because a financial adviser is not licenced by one of the major banks that there is not a major conflict of interest with the products they recommend.

Consumers who receive financial advice have never had a better time to consider their options as the Royal Commission puts a very clear focus on bank and institutional financial advice licencing, and the potentially major conflicts of interests with their products.

There are many large financial advice institutions who have their own Australian Financial Services Licence and also have a major conflict of interest with the products they continue to recommend and profit from.

There are potentially only three questions that consumers need to initially ask their financial adviser:

  1. Are you licenced by one of the major banks, AMP or another major institution?
  2. Do you or your Licencee profit in any way through profit sharing from any of the products you may recommend?
  3. Are you permitted to call yourself an Independent Financial Adviser?

The problem for most financial advice consumers is that they don’t have a point of reference.  It is almost impossible for consumers to read through 100’s of pages of disclosure documents in order to find a few sentences that explain how the financial advice they are receiving is potentially materially conflicted.

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 it’s probably time for you to stop doing what you have always done with your financial advice affairs and instead explore ways to do things proactively and very differently for better results.

At The Financial Advice Shop there is something very important that differentiates us from our so called competitors: not only are we an Independent provider of Financial Advice, 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, practical and Independent 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 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, and uncovering and explaining your current financial advice conflicts of interest.

www.financialadviceshop.com.au

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

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

Why Trying To Time The Share Market Can Be A Really Dumb Idea!!

Investing and financial advice is often about making sensible and informed decisions, and for most people it should not be about major speculation.

In recent months I have been amazed at the number of new client discussions I have had where their investments have been in cash. In some cases they have been invested in cash since the Global Financial Crisis when they sold out in a panic, and in other cases it has been for the last year or two because they were concerned share markets were about to correct.  In all cases they have missed out on a substantial return on their investments because they have taken an extreme position without advice.

I am certainly not saying that 2018 is not without significant share market risks but there is a lot of value to be gained through seeking assistance before you make decisions.  Once you have made an extreme investment decision and got it wrong, it is much harder to then decide what to do next.

It is very normal to be concerned or excited about investments from time to time and at those times there is always a question about how to manage the situation. Think carefully before you commit to a high risk binary solution: all in or all out.  It is often far better to modestly adjust the cash levels in your investments over time in consultation with your adviser, to sensibly manage the situation and to give you more options down the track.

If you are foolish enough to be in a set and forget investment and have accepted the default position on your level of risk, you may have made a poor choice. Your investment portfolio manager is certainly not going to consider your individual needs or concerns as they invest on behalf of thousands of other investors with a ten or twenty year investment horizon.  If you want a tailored outcome you need to be proactive and initiate sensible changes to your portfolio that are right for you.

At the end of the day, share markets are more a measure of fear and greed. When investors are fearful share markets tend to fall and when investors are greedy share markets tend to rise.  Unfortunately for many investors they tend to follow the herd and make decisions at the extremes in the investment cycle, and the outcome is not always ideal.

Hot Tip: Everyone’s financial situation is different so now might be a good time for you and your Financial Adviser to review and understand the risks you are taking with your investments.  In periods of share market volatility and uncertainty, nervousness can result in wealth passing from weak hands to strong hands so make sure you have a plan for how you will respond to a share market correction as it will come eventually.

We do not agree to help everyone but if you feel you need a second opinion on your superannuation and financial position, contact The Financial Advice Shop to see if we can add value.

www.financialadviceshop.com.au

#financialadvice #retirementplanning #superannuation #financialadvicecanberra #retirementplanningcanberra #financialplanningcanberra #financialplannercanberra #superannuationadvicecanberra #financialadvisercanberra