While you may be earning good money, it’s also likely you have growing financial commitments and needs. COVID-19 has put the spotlight on finances, and you may be like many young professionals, and living very close to the wire.
The shock to personal finances from reduced hours or the loss of an income has been a harsh reality for many young couples and families. We understand under-50s need financial advice that is specific to their lifestyle needs now, and for building financial independence and security later.
There is no doubt that COVID-19 has brought the need for good contingency planning to the forefront for many people from all walks of life… but perhaps more so for younger people, who are often managing increasing expenses such as mortgages, vehicle leases, personal loans, credit cards, school fees as well as daily expenses for managing a growing family.
At Wealth Fundamentals we specialise in financial strategies for young professionals, business owners and high-income earners.
While retirement planning is important for this age group, in our experience strategies for cash flow and debt management as well as wealth accumulation are the greater priorities.
In our view, this is the stage of life when advice is of the greatest value, for those who have already achieved significant wealth and those who are yet to get there.
What financial strategies are specific to under 50’s?
One-size does not fit all when it comes to financial planning. Not only are different financial strategies required at different stages throughout your life, everyone’s financial priorities are different. A good financial plan needs to consider every aspect of your financial life including your financial aspirations and ability to prepare for the unexpected.
Cashflow management: Effective cashflow management is a financial fundamental for young professionals. We can identify strategies to improve your cashflow in the short-term and review your expenses and earnings to investigate essential and non-essential expenses.
Debt management: There are many debt strategies that can make a significant difference to your financial health including prioritising debts according to interest payable, using debt to accumulate wealth through the purchase of assets or refinancing. By collaborating with other aligned professionals such as your accountant, we may also be able to identify tax efficiencies or address more tax-effective ways to structure your debt for your personal circumstances or goals.
Assisting financial decision making: Whether it be strategies for building your super, starting an investment portfolio or re-financing your home loan, we can guide your financial decision-making by using real life scenarios to explore different options and long-term outcomes, specific to your needs.
Contingency planning: As COVID-19 has proven – it pays to be prepared for the unexpected. We can help you protect your lifestyle with a well-considered personal insurance strategy. An appropriate level of insurance is about financially protecting what you can’t afford to lose. Whether that’s your life, your health or your ability to earn an income. Unfortunately, many young professionals fail to recognise that continuing to earn income is their most important asset and well worth protecting.
What about the cost?
At Wealth Fundamentals our initial consultation is obligation-free and fee-free. We use this meeting to get to know you and understand your financial goals and objectives, so we can determine the scope of work involved to address your financial concerns and help you achieve your financial goals. We will then provide an engagement letter outlining costs for upfront advice and ongoing reviews. The level of fee service depends on the complexity of your situation and level of service required to help you achieve your goals.
“Matt helped us to consolidate our financial position as a couple and that enabled us to have a clearer picture of what we could comfortably achieve in the future. We appreciated his flexible approach; he knew we were time-poor and made the effort to meet us outside of office hours at a location most convenient for us. I’d definitely recommend Wealth Fundamentals and Matt Lane. Matt has a broad base of knowledge and experience. We felt reassured by his holistic approach that considered every aspect of our lives and helped us put in place protection measures to safeguard our family’s future. — MR Q. & MRS L. TAMME ”
Don’t miss out on the advice you need. Financial strategies implemented now can make a significant difference to your long-term financial wealth. Contact us today on 07 3720 1299 or email admin@wealthfundamentals.com.au to arrange an obligation-free appointment to help secure your financial future.
Lane Moses Pty Ltd ABN 56 092 186 117 trading as Wealth Fundamentals and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306.
The information (including taxation) contained within this document does not consider your personal circumstances and is of a general nature only - unless otherwise stated. Wealth Fundamentals strongly suggests that you should not act on it without first obtaining professional advice specific to your circumstances. This information is based upon our understanding of legislation at the time of writing. Such legislation may be subject to change.
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