Investing is a process of building wealth for the long term. You can start with a lump sum, or make regular investments. The most important thing is to make a start. The longer your funds are invested, the more they will grow.
Once you reduce your working hours or retire completely, your lifestyle and income needs will change. As we are living longer, you still need to have a long term view on investment. You may need income from other sources. These could be from your investments, from your superannuation or from the Government.
Superannuation is an important consideration for all Australians. No matter what stage of your life you’re at, investing in super as early as possible reaps the greatest rewards as your money works for you over time.
Risk insurance forms a critical part of the financial planning process. It provides you with protection against the financial implications of an event such as death, disablement, serious illness or injury.
Savings and debt management
Saving for a specific goal such as buying a car, having a holiday or accumulating a house deposit is much easier when you understand your income and expenses, and if your debts are under control.