What money can you save to help add to your existing
position?
What large costs or spending will / is likely to happen
in the measurable future? Eg Children, education, stopping
work to study etc.
What major events need to be catered for? Eg. Change
homes every 5 years, cars, holidays etc.
When do you want to retire?
What expenses are you likely to have in
retirement?
2. Look through the relevant options available to
you
Pay off credit cards
Clear non-deductible debt
Structure home loans efficiently
Take advantage of "saving money" situations eg. Coles
discount card
Should you be looking at personal ownership, trusts,
superannuation, companies, etc as the method of holding
your assets or earning your income?
What to buy? Term deposits fixed interest, property or
shares?
How to buy? Direct via discount services, through "full
service" providers?
If you do not manage your money yourself - how will you
choose who will?
Is some form of superannuation useful?
Should you consider salary sacrifice?
Should you buy with your own money or with borrowed
money?
Are you going to buy assets only when they fall in
value or only when they rise or only when they are neither
falling nor rising?
When are you going to sell your assets?
3. Consider the issues that impact on you more
obviously
Do you want to reduce the tax you pay?
How much time are you prepared to devote to money
issues?
How comfortable are you that the value of the things
you buy can go down as well as up?
What information can you cope with? (be wary of
information overload!)
How stable is your income?
What a financial planner attempts to do…
To sort through this and help you come to a decision on
what to do, when to do it and how to do it.
The next job is to stay focussed on this course of action
through thick and thin. The strategy will generally only need
changing when your aims and objectives change!
