Life is continually changing, and your financial plan needs to be tweaked to reflect these changes. Whilst it can be tempting to put off, checking in regularly is well worth the time and effort. A plan put in place 10 years ago is more than likely not reflective of your current circumstances. This is why we conduct regular review meetings with our clients to make sure we are providing solutions that are tailored to your situation. Here are five reasons why you should book a review appointment.
1. Significant life changes
Perhaps you have recently married, had children, received an inheritance, or want to retire. These events will have a significant impact on how you invest your money and spend it, your personal insurance needs, and your goals for the future.
2. Measure your progress
Seeing results is empowering. A review provides the opportunity to see how you have progressed over time and to make adjustments to your financial planning to ensure you are still on track so that you can achieve your goals. It’s about being proactive and constantly adjusting your strategies.
3. Reassess your goals
When you have a young family, your goal might be to pay off the family home or save for your children's education. As kids leave the nest your priorities will change. The idea of retirement may have suddenly become more real. We can amend your plan to ensure you are working towards the life you want to be living.
4. Take a good look at your super
Often clients come to us expressing frustration that the model for their super investments is not working for them. Sometimes they are lacking knowledge about how their funds are invested and that they are out of line with their risk preference. We can work with you to identify the best platform and a more tailored solution. It really depends on how involved you want to be and what type of investor you are.
5. Keep up to date with regulatory changes
Regulation changes can have a substantial impact on your finances. They are triggered by all sorts of events including a change in government, budget, or new legislation. These can significantly change limits on superannuation contributions and tax rates. We will work with you to ensure that you are complying with the rules and look at ways to minimise your tax.
Many of our clients have been with us for decades and we have built strong relationships. We value these greatly. Our team will work with you to continually adjust your financial plan according to your circumstances. Please get in touch if you would like to review your situation.
