Just like New Year’s resolutions forgotten by February, there always seems to be increased activity around making the most of superannuation contribution strategies in the lead up to June 30 each and every year.
But have you stopped to consider the entire year ahead and your overall financial strategy?
A much better approach would be to review your entire financial situation with me, as your trusted adviser, and develop a detailed plan that focuses on minimizing tax and increasing wealth every single day, year in, year out.
Spring is a great time to clean out the cupboards, get your paperwork in order and make an appointment to get your financial life in order too!
So what do you need to consider? Generally, age will be a determinant for what stage of life you are at and what your goals are.
For example Gen X may be focused on:
- Pre-Retirement Planning
- Salary Sacrifice/ maximising Super Contributions
- Paying down debt
While Gen Y may be focused on:
- Saving for their first house
- Paying down the mortgage
- Schooling costs
- Salary Sacrifice / maximising Super Contributions
Baby Boomers may be focused on:
- What age are you going to retire?
- How much money will you require per year based on the lifestyle you would like to live?
- What are your current living expenses?
- What is your current superannuation balance?
- What other investments do you have? (i.e. property, shares etc)
- Are you in a position to retire now – is there a shortfall or do you have sufficient superannuation and investments?
As you can see, there are different strategies that can be adopted. So why not set a 365 strategy and ensure all your financial goals are on track?
“For you to get from where you are financially right now to achieving your financial dream, you cannot do it all by yourself. It is impossible.” Robert Kiyosaki