Tel: (02) 9633 3300 Facebook LinkedIn
Client LoginAdviser Login
  • Home
  • Who we are
    • Who we are
    • Adviser team
      • Simon Clifford
      • Tony Fox
      • Troy McPhee
      • Robert De Ceglie
      • Siboney Corrales-Palacio
    • 24 hours – A day in the life of Adviser fp
  • What we do
    • What we do
    • Financial planning
    • Financial planning process
    • Gearing
    • Personal insurance planning
    • Redundancy planning
    • Superannuation & retirement planning
    • Self managed superannuation funds (SMSF)
    • Family Business
    • Aged Care – Family & Financial Decisions
    • Information tables, rates & calculators
    • Glossary of terms widely used in financial services
    • General Advice Warning
  • Why choose Adviser fp
    • Adviser fp Client Experience
    • Do you need a financial planner?
    • Your first meeting
    • Five common financial planning mistakes
  • News, Articles and Updates
    • News
    • Financial Knowledge Centre
    • The money needed for a comfortable retirement
    • Buying Life Insurance direct: All is not as it seems
    • The great Australian dream
    • Financially Speaking newsletter
    • Economic Update
    • Financial markets summary & table
  • Contact us
Help your family for generations

Help your family for generations

Date: March 7, 2016

It doesn’t matter what life stage someone is at, a financial adviser can help them identify and meet their financial goals. CLICK HERE for an interactive view on the various life events and how Adviser fp can help you and your family to navigate these important stages.

Life Stage: Creating wealth (Young Accumulators)

Retirement may seem a long way off, but the benefits of building up wealth at this stage cannot be underestimated. Younger singles or couples might have shorter term financial goals such as:

  • Saving for a home or overseas holiday;
  • Paying off education debt or credit cards; and
  • Establishing an investment portfolio or starting a new business venture.

Sound financial planning means they can work towards their goals without it having a major impact on their lifestyle.

Life Stage: Protecting wealth (Families)

As they begin their own family, your adult children will want to protect their wealth as well as build it up further. This can help ensure they are able to:

  • Look after their family;
  • Maintain their home and lifestyle; and
  • Plan ahead for retirement.

A financial adviser can help with the right strategies and financial products to minimise the risk their assets are exposed to, while still building up their nest egg.

Stage: Managing wealth (Pre-retirees)

As your children grow older, they will want to maximise the money available to them in retirement and plan their estate:

  • Take advantage of super strategies;
  • Ensure the right estate documents are in place; and
  • Make their family aware of their plans.

For business owners, planning the succession of their business so they derive maximum value from their hard work is also important.

Case Study: Take Sally and Mark for instance

Sally and Mark retired a few years ago and as they sought and implemented financial advice a number of years earlier, they had accumulated sufficient wealth to ensure a comfortable lifestyle in retirement.

Their adult son, David aged 39 is married with two children who were both living at home. The cost of buying a home in Sydney and ongoing private schooling meant David still had a substantial outstanding mortgage.

Although David had adequate life cover he did not have total permanent disability, trauma or income protection. Sadly last year David experienced a bad car accident resulting in him being unable to work again for some years, if at all. The family had to make do on David’s wife’s $45,000 pa salary, which was not sufficient to cover the family’s regular expenses.

Naturally Sally and Mark did not want their son to lose his family home and so offered to cover most of his mortgage payments. This put a severe dent in their monthly pension payments and they have had to make substantial capital withdrawals to help regulate their cash flow.

With the right financial advice, David might have had adequate insurance to pay off the mortgage while Sally and Mark would be able to enjoy a comfortable and less stressful retirement.

 

Ensure your hard work and foresight is protected. Should something happen to one of your grown up children, the last thing your family needs on top of the emotional distress is financial difficulty. This additional stress can be avoided by helping your family plan ahead.

Share this Story

  • Facebook
  • Twitter
  • LinkedIn
Categories
  • Aged Care
  • Budgetting
  • Business Succession
  • Buy / Sell agreements
  • Capital Gains
  • Cashflow Management
  • Centrelink
  • Certified Financial PLanner
  • Charitable Giving
  • Economic Outlook
  • Emerging Markets
  • End of Financial Year
  • Estate Planning
  • Financial Markets
  • Financial Planning
  • Financial Planning Association (FPA)
  • Goals
  • Income
  • Investment
  • Life Insurance
  • Lifestyle
  • Market Outlook
  • Partnerships
  • Philanthropy
  • Politics
  • Professionalism
  • Property Investing
  • Retirement
  • Risk Management
  • Salary Packaging
  • Savings
  • Sharemarket
  • Succession Planning
  • Superannuation
  • Tax Planning
  • Taxation
  • Uncategorized
  • Wills
Archives
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • June 2017
  • May 2017
  • February 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
Adviser FP
Adviser fp Pty Ltd is an Authorised Representative of FP Advice Pty Ltd
ABN 30 637 518 533 | AFSL 520310 | Financial Services Guide

Adviser fp Pty Ltd is proud to be an approved FPA Professional Practice

This information is general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this information, you should assess your own circumstances or seek advice from a financial planner and seek tax advice from a registered tax agent. Information is current at the date of issue and may change.
Copyright © 2021 Adviser fp Pty Limited. All rights reserved.
Professional Practice
  • Privacy Policy
  • |
  • Financial Service Guide
  • |
  • Conditions for using this website
  • |
  • Site by wolff