Request a Consultation
Helpful Resources
  • Close

Request a Consultation

Enter Your Retirement Years Debt-Free

When most people think of retirement, they picture freedom: freedom from bosses and deadlines, early mornings and commutes, and meetings and the Monday blues. But all too many Australians are retiring without freeing themselves from the biggest master of all. .....

CFO - 7 min read

With every decision, it’s wise to weigh the pros and cons. When it comes to deciding whether or not to use a financial adviser, however, you’ll find a long list of positives.

 

Many people view financial advisory as a service only for the wealthy. The truth is, anyone can benefit from expert financial advice about retirement and estate planning, investing, cash flow, and protecting your assets.

 

In this post, we’ll look at several significant benefits gained from working with a financial adviser.

 

A Long-Term Plan

You’re responsible with your money. If you weren’t, you probably wouldn’t be reading about financial advisement online. But even if you’ve established healthy financial habits and are concerned about the future, you might not be capitalising on your assets and skills if you don’t have a firm long-term plan.

 

When you work with a financial adviser, you have the opportunity to solidify a plan for your future. Because your plan will be worked out with a money expert, it will be well-rounded and attuned to details like taxation, legal frameworks and your appetite for risk. Involving an adviser in your planning can help you to answer hard questions, commit to a strategy and have increased accountability. With a comprehensive plan stretching into the future, you can move forward with confidence and peace of mind.

 

Steady Cash Flow

Overall, you may be hitting your desired upward trajectory, but how bumpy is your ride? If you find yourself on a financial roller coaster, with periods of feast and famine, an advisor can help you to manage the day-to-day cash demands of your life.

 

Once your cash flow is under control, you may find that you have surplus cash for investing. Your financial adviser can help you decide the best use for your extra money. Some options may include building a personal emergency fund, contributing more to your super, saving for your children’s education or investing more in the markets.

 

Assistance with Family Financial Matters

Too many people find themselves knocked off-kilter by family financial predicaments caused by death, divorce and even marriage. An outside perspective can help you to sort through the complicated issues that result from combining households, dividing assets and also managing inheritances.

 

Each of these situations requires attention to legal and tax matters. By bringing in an objective outsider, you can reduce or avoid some of the conflicts that can result during these emotionally charged times.

 

Forward-thinking Retirement Planning

Whether you’re decades from retirement or already starting to pare back your hours, a financial adviser can help you to achieve the lifestyle you seek. Since each person is different in their family obligations and long-term goals, there’s not a one-size-fits-all retirement plan that will satisfy all needs.

 

Get the personalised advice you need regarding the following:

  • Easing into retirement slowly or retiring all at once
  • Developing a workable retirement timeline
  • Deciding when to start collecting superannuation remittances
  • Creating a budget for your retirement finances
 

New Call-to-action

 

Superannuation Assistance

Superannuation seems easy enough. You direct a portion of your salary to go to your retirement savings. But how much should you save? Is the money being managed well? Do you still have old super accounts from previous jobs that are languishing without anyone directing them?

 

A financial adviser can help you tame your super funds and make sure they’re behaving correctly. Looking forward, your adviser can help you develop a strategy for achieving your long-term lifestyle goals.

 

This can be done by combining multiple super accounts to save on fees and help you to invest more productively. Your adviser may suggest an SMSF or salary sacrificing as methods to achieve your goals. Are you currently contributing enough to your super? A financial adviser can help answer that question and provide important updates as your wealth grows.

 

Proper Risk Management

As your assets grow, you may start to worry about whether or not they’re protected. Your financial adviser will help you with risk management, from insurance to the legal aspects of protecting your estate.

 

It’s possible to protect your assets from the unpredictable hazards of life. Storms may damage properties, and economic downturns may hurt your stock portfolio. With adequate risk management, however, these hits can be buffered, and you can stay on track with your long-term financial goals.

 

Aged Care Advice

Moving a loved one into an aged care facility can be emotionally and financially challenging. A financial adviser can lighten your burden by providing calm and professional guidance during a difficult time.

 

Additionally, your adviser can help you to prepare for the distant future when you may need such care. By understanding the costs and options for covering these expenses, you can make life easier for your family in the future.

 

Steadfast Estate Planning

When it’s done right, estate planning is a holistic process. It includes all aspects of your finances, from real estate and personal belongings to superannuation, taxes and legal affairs. Unfortunately, up to 45% of Australians lack a legal will, forcing their financial issues into probate after their deaths.

 

You can avoid this situation by engaging the skills of an experienced financial adviser to guide you through the estate planning process. From the creation of a will and naming an executor to trust establishment and naming beneficiaries, an adviser can help you to make sure you’ve covered all your bases.

 

Clearly, you have much to gain from working with an experienced financial adviser. Give yourself the peace of mind experienced by those who have a firm grasp on their financial lives. Reach out to us at Altus to set up a consultation with one of our skilled advisers. You’ve got nothing to lose!

 

New Call-to-action

Could Your Business Benefit from an Outsourced CFO?

Set your business on the right path with this simple guide.

Could Your Business Benefit From an Outsources CFO_Resources

Prospective Business Owner - Succession Checklist

Make sure you’re on the right track with this online checklist.

Business Owner - Succession Checklist_Resources