1. Understand basic financial concepts
It’s hard to have a chance at real financial success unless you’ve mastered some basic financial concepts. The first step to understand the basics is to attend one of our Monthly Information Evenings. Register to attend the next one on Tuesday 27th of September in Melbourne and Tuesday the 11th of October in Geelong.
2. Take your superannuation seriously
Many people in Australia are complacent when it comes to their super. We have to remember, it does equate to 9% of all o earnings which is a lot of work hours! For financial success, you should take your superannuation seriously. With a little financial know-how and advice from a professional financial planner, you can learn to use the untapped wealth potential that your superannuation offers.
3. Don’t be afraid of market fluctuations
Many people get swept up in media hype when there are periods of volatility and fluctuations in the financial markets. Without some financial know-how, it can be easy to believe that the world is about to end! Indeed, some people are so afraid of normal market volatility that they avoid investing in the share market. Over the long-term, the share market can offer one of the most powerful tools for creating wealth for the future, if you can hang in there and weather the volatility storms.
4. Develop a financial plan
Trying to achieve financial goals without a financial plan is like trying to find a street in a foreign city without a map. The chances that you’ll find your way are very slim! A financial plan can help you to navigate your finances through the short, medium and long-term. They can help you map your wealth future with a financial plan while being your trusted guide along the way.
5. Protect your most valuable asset – YOU!
You and your ability to earn an income are the most valuable assets you and your family have. You should ensure that you have enough life insurance, TPD, Critical Illness and income protection to look after you and your family should the worst happen, or if you should be unable to work due to illness or injury. Don’t leave your family vulnerable; make sure you’re protected with adequate insurance!
6. See an Income Solutions financial adviser
Unlike most other financial advisers, Income Solutions financial advisers are fee for service and don’t charge commissions. You can always be confident that we’re acting in your best interests when formulating your financial plan, specific to your own needs and goals.
Book your first complimentary appointment with one of our financial planners today.
