Increasing Net Wealth and Protecting Your Future
Have you started to accumulate both assets and debt, and want to know how to increase your net wealth and protect your family's financial future?
At this stage in your life your work is likely to be more stable and permanent. You may have started a family or be considering this in the near future and have probably increased your debt, possibly in the form of buying your first home.
Our recommendations can start to become more complex and focused on your personal situation at this stage.
Some strategies we may consider:
- Non-concessional (after tax) super contributions with a particular focus on receiving the Government’s superannuation co-contribution.
- Concessional (pre-tax / salary sacrifice) super contributions, to minimise your tax and increase your retirement savings.
- Salary packaging – we consider all salary packaging options available to your specific industry.
- Review of your current superannuation to ensure it is cost effective and offers suitable investment and insurance options for you.
- Regular Savings Plans to assist with future Private School education expenses for children, or other large expenses you have planned for the future.
- Debt reduction and budgeting assistance, to ensure you can live the life you want while focusing on reducing your debt.
- Personal insurance is also far more important, as you now need to consider repayment of debt, and protection of your family’s financial future, should anything happen to you.
- Personal investments, to increase your personal wealth. We research investment options and consider the best ownership for these investments in order to protect your assets and minimise tax.
- Centrelink assistance, to ensure that you know your options if you are considering returning to work, and how your choice will impact any potential family assistance benefits including the Baby Bonus/Paid Parental Leave, Child Care Benefit and Child Care Rebate, and Family Tax Benefit A and B.
- We need to start considering Estate Planning such as Wills, Powers of Attorney and Testamentary Trusts. View all Services