A New Year, a New Financial You

— By: Matt Carter

January provides us with an opportunity to sit back and reflect on the year that has passed and the year ahead. Often this reflection is focused on personal finances, and what we can do to save and grow our wealth.

To help this process, and to kick off the new year on a positive financial note, here are the three most commonly requested financial services that we receive every January. By paying a little extra attention to these, you will be better placed financially in 2017.

1. Tidy-up finances

Overspending at Christmas is a familiar concern and it usually reflects a bigger spending/savings gap issue.

One thing that you can do to relieve some pressure is to consolidate your personal debt, credit cards, personal loans etc, to obtain a better interest rate, with a view to paying it off quicker.

Along with assisting to consolidate, we can also help you look at ways to increase your cash reserves and create a spending/savings plan. We even have specialised software that can help.

2. Reducing Tax and Building Wealth

Property acquisition remains a strong and stable investment option, if it’s done well.

Through our dedicated property team, you have access to an experienced in-house buyer’s service that operates across all major Australian markets.

We find the right property, negotiate the purchase, arrange finance and oversee the tenancy of the premises. We do all the work so you can enjoy the benefits of a wealth-generating asset and a tax effective income.

3. Maximising Superannuation

A health check of your superannuation, including consolidating your various super funds and checking you’re on track for retirement and making sure you’re across the latest legislation is important to your financial future.

The government has released a number of changes to superannuation to be implemented in 2017.

Some of the recent changes have been made with a view to help those who have lower superannuation balances be prepared for retirement.

People who have taken a ‘break’ from the workforce, such as mothers or carers, will have greater flexibility when it comes to ‘catch-up’ payments whilst those at the higher income level will be faced with a lower threshold for the ‘super tax’.

The breadth of this years changes makes it important to speak to your planner to ensure you are maximising the available options.

Need more information, please contact us.

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2017-07-27T02:28:57+00:00