Financial Planning: Insights and Advice

3 Financial Goals Your Investment Management Planner Can Help You Achieve

If you're like most Australians, you probably have some financial goals you'd like to achieve in the next few years.

But how do you know what your current financial position is and where it might be heading?

An investment management planner can help you identify where you stand and how to get there. Here are three common financial goals your investment management planner can help you achieve: 

1. Becoming Debt Free

By getting a grip on your debt and other liabilities, such as credit cards and car loans, you can save money and make your budget more manageable. If your goal is to pay off debt and become debt free, an investment management plan can help you set realistic targets. Your planner will look at how much money each month you need to put aside for debt repayment, based on the interest rate and amount outstanding on each of your loans. They can also suggest ways of reducing expenses so that any surplus cash can go towards paying off debt quicker than originally planned.

2. Saving For Retirement 

Too many Australians discover too late that their retirement savings and income will not sustain the lifestyle they had envisioned. But with solid investment management planning, you can realise your retirement goals. 

For most, the goal is simple: retire with enough money on hand, combined with ongoing income streams, that daily expenses and unforeseen costs are met without worry. Achieving this in Australia requires planning for higher costs of living, as well as taking advantage of opportunities like superannuation. By partnering with an advisor, contributing early and often, investing for growth and maximising tax benefits, your retirement fund can grow to meet your needs.

3. Financing Your Children's Education

The cost of education in Australia, from primary school through university, continues to rise each year. If you want to pay for some or all of your children's education, an investment management planner can help you set savings goals and choose investment options tailored to your needs. 

Your planner will consider factors like the ages of your children, the schools or activities you want them to have access to, projected costs of attendance each year and how much you can contribute each month or year. They may recommend high-growth investment funds to boost returns over many years of saving. An education fund or bond may also make sense based on your financial situation.  

To find out more about how to reach your financial goals, chat with an investment management advisor today.