Spending AND Investing – at the Same Time
Our overall wealth building philosophy for you can be summed up in one sentence:
“Have one eye on now and one eye on the future.”
This means we want you to enjoy the benefits of your hard work right now (drive a new car, enjoy regular holidays, eat out, drink that nice bottle of wine, etc) while AT THE SAME TIME putting some of your money away into good investments to provide for your future.
This is what we can help you to do, starting today!
“Pools” of Wealth
We want you to have 3 “pools” of wealth. In other words, 3 sources of funding that you can draw from when needed, at different circumstances and different occasions in your life.
Pool 1 – Cash Backup Fund
Pool 2 – Core Family Wealth
Pool 3 – Aspirational Wealth
Our wealth building advice to you will always relate back to one of these three “pools” of wealth.
What are Your Financial Goals?
Our advice is tailored to you and your family’s financial goals. What are they?
Don’t worry if you haven’t given this much thought until now. The important thing is to put your financial goals down into writing and share them with us so that we can keep you on track to achieve them.
When we meet next we will ask you for 3 initial financial goals for us to help you achieve.
Wealth Builder Recommendations for You!
Our advice to you will be “holistic” – covering not just some but all aspects of your financial life.
There are 7 key areas to Wealth Building. The sooner we can start working with you in these areas, the sooner you will be able to achieve financial freedom!
| Key Area | Why This is Important | |
|---|---|---|
| 1 | Know your “Freedom Gap” | We’ll create for you a one page plan for your future – how much $ you will need, an estimate of how much $ you’ll have, and how to help you get to what $ you’ll need to ensure you have a beautiful financial future! |
| 2 | Know where you are: MyProsperity Personal Wealth Portal | To make the best decisions, you need to see your entire financial position on one page, with yesterday’s balances for all cash accounts, credit cards, loans, and investments. Using the MyProsperity Personal Wealth Portal does this for you – simply, easily, and allows you to be in full control of your future! |
| 3 | Debt / Loan Optimisation | You need a plan to reduce your debt over time – and debt optimisation helps you to reduce your non-tax deductible debt, and to turn whatever debt you do have into tax deductible debt if possible. Includes: Home Loan Review and Debt / Loan Optimisation advice. |
| 4 | Work your Superannuation | Your Superannuation account or SMSF is the key to your wealth creation. Your SMSF can borrow to purchase property investments using recent tax law changes. Includes: Superannuation Review. |
| 5 | Invest in a Tax Effective Manner | Imagine buying shares with no downside risk! Receive all dividends and capital growth without losing anything if your shares go down in value. Save tax at the same time, in most cases with no up-front cash required. Includes: Investment Review. |
| 6 | Protect your Assets | Ensures you and your family can continue to live your chosen lifestyle after a sickness / accident / death. Includes: Income Protection, Life, Trauma, Disability Insurance and Business Insurance advice. |
| 7 | Update your Estate Plan | Ensures that your assets are distributed tax effectively to your chosen family members if you die. Is your Will valid and up to date? Do you have a Power of Attorney? Have you planned for tax-advantaged income for your dependents after your death? |
Our Inspire financial planning partners can help you investigate which strategies may be appropriate for your personal situation.
