#3: Do I need to reduce my debt before I can plan for the future?

There are many approaches that can help you better manage your debt and you may be able to use your debt to get ahead.

By understanding your debt situation we can outline the impact of debt on your financial position both now and in the future. Through the use of scenarios, we are able to identify strategies which can help you improve your cash flow in the short term; use your debt to generate income through purchasing assets (shares, managed funds, investment properties); prioritise your debts; or identify methods to fund aged care such as reverse mortgages.

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 of structuring your debt to align with your personal circumstances and overall goals.

Financial advice is not a one-size-fits-all commodity and everyone has different financial goals requiring unique financial strategies. Your strategies should never be ‘set and forget’ but adjusted to align to your stage of life, the greater macro-environment and your personal circumstances. Changes in your circumstances can have enormous impacts on your financial situation.

If you would like further advice about debt management, I encourage you to contact our office on 07 3720 1299 or email admin@wealthfundamentals.com.au

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.

This is general advice only and does not take into account your objectives, financial situation or needs, so you should consider whether the advice is relevant to your personal circumstances. You should also read the relevant Product Disclosure Statements (PDS) before making any financial decisions.

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