Fit and Flexibles – Under 30's

With your first job under your belt and minimal debt, chances are you have great disposable income. But did you know improving your financial fitness now can have a massive impact on your future?

Some of the benefits you may receive by addressing the focus areas above include:

  • Effective allocation of your income and a plan that is aligned with your own personal goals (both financial and lifestyle)
  • Reduced income tax
  • Establishment of a customised wealth creation plan that fits with your comfort level
  • Protection of your income and lifestyle via personal insurance that is properly structured and secured at low cost (insurances get more expensive the older you get!)
  • Confidence that you are making the most of your opportunities as well as access to a professional sounding board when you need it

While dealing with some of the above might not seem as exciting as a holiday, forming good habits now, however small you might start out, could see you set-up for life so make sure you get started sooner rather than later!

The 'Grown-Ups' – 30 - 45 years

You’ve now moved into the ‘dreaded 30’s’ and have been officially classified by your former self as being WAY old! But what the younger, cooler version of yourself doesn’t know is that you have now established a stronger career and have obtained a taste for the finer things in life.  However as someone once said, with power comes great responsibility! You now probably have a lot more going on in life – a significant mortgage, young children, investments, superannuation, work travel, all while still trying to fit in the ‘Fun’ stuff

Some of the benefits you may receive by addressing the focus areas above include:

  • Effective allocation of your income and a plan that is aligned with your own personal goals (both financial and lifestyle)
  • Proactive taxation planning. That is, a plan that ensures you are optimising your taxation position both personally, inside superannuation as well as with your direct investments
  • A correctly structured debt reduction plan that saves you significant interest cost
  • A ‘beefed-up’ investment plan, addressing your medium term investment needs as well as potential education funding
  • Updated insurances to ensure your, assets, income, young family and lifestyle are now included in your plan, minimising the impact of any unforeseen accident or illness
  • Confidence that you are making the most of your opportunities as well as access to a professional sounding board when you need it
  • A correctly executed Estate Plan, inclusive of your instructions relating to guardianship

Call us now if you’d like us to help you ensure you get the balance right and take the stress away from all those responsibilities!

The 'Home Stretch' – 45 - 60 years

This is the time in life where you start to think a little more seriously about your pending retirement. For those that have children, you may also find that you start to get some freedom back now the kids are older or have left home. Financially, you’re probably earning at your peak, the mortgage is in good shape and superannuation is much more on your radar. But like the other life stages, there’s plenty going on, so where should your focus be?

Some of the benefits you may receive by addressing the focus areas above include:

  • Effective allocation of your income and a plan that is aligned with your own personal goals (both financial and lifestyle)
  • A robust superannuation plan, that is designed to boost your superannuation savings, while saving you tax along the way
  • Proactive taxation planning. That is, a plan that ensures you are optimising your taxation position both personally, inside superannuation as well as with your direct investments
  • Elimination of your existing mortgage
  • Reduced insurances – you may find that you can divert premium cost to your retirement savings as your insurance needs are lower
  • Confidence that you are making the most of your opportunities as well as access to a professional sounding board when you need it
  • A correctly executed Estate Plan, inclusive of your instructions relating to guardianship

At this stage of life, it is important to start planning for retirement as early as possible (ideally at least 5 years before retirement) to ensure you give yourself the best chance of meeting your retirement goals

Free & Easy – 60 - 75 years

The kids are gone (hopefully), you’re free again and it’s time to start enjoying the fruits of your labour! This stage is all about setting up the last push to retirement and then ensuring your have the correct structure in place to achieve your objectives. Most people like to make sure they’ve built in regular travel, purchased a new car/caravan, finalised some home renovations or potentially secured the home they’d like (e.g. Downsized from their family home) while also allowing time for grandkids and plenty of time to fulfil other lifestyle goals

While the above sounds fantastic in theory, how do you know that you’ve got enough to last and as well as optimise your future tax, Centrelink, cash flow and superannuation position?

Some of the benefits you may receive by setting an appropriate plan:

  • Peace of mind in that you understand exactly how you are going to meet your expense requirements and can retire with confidence
  • Correctly structured income streams that are tax effective and are aligned to your expense requirements and allow flexibility in case your circumstances change
  • An optimised Centrelink plan addressing both your age pension and health care card entitlements
  • Confidence that you are making the most of your opportunities as well as access to a professional sounding board to ensure your nest egg continues to work for you without taking on risk you’re not comfortable with
  • A correctly executed Estate Plan, ensuring your spouse is looked after in the event of premature illness or death

At Profusion Planning, we can help you match your income to your lifestyle needs, plan capital expenditure and ensure you are getting the Centrelink benefits you are entitled too.

Twilight – 75 years +

You have entered the final stage of life and want to ensure that your wishes are met in the case you may require aged care and that your remaining assets are distributed to the people you love when you decide to move on to bigger and better things. But how do you avoid family squabbles after you’ve gone, and ensure your beneficiaries aren’t burdened with unnecessary tax?

We can help you plan your estate to decrease the risk of family feuds, minimise tax and ensure your final wishes are met.

Take the first step and contact us today for a confidential chat about your financial situation

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