Do You Need a Financial Planner?

Every Australian accumulates savings through their compulsory superannuation accounts, and of course, every Australian wants to learn how to manage their money to the best of their abilities in order to be set up for a comfortable retirement. However, does that mean every Australian needs a financial planner? Possibly not, if your finances are relatively simple, but there will probably be times in your life when some financial advice would be welcomed.

Below are a few situations where you might find a financial planner useful.

• You’ve got married – When you get married, you and your partner will have to decide whether to merge your finances or keep them separate. You will also have to update numerous financial forms, track cash flow, pay down debts, define new goals, and reorganise and prioritise your spending habits.

A financial planner can help you and your partner with possible questions about investment allocation updates, taxes, selection benefits, deciding whether to have joint or separate bank accounts, and much more.

• You own a business – Regardless of whether you are a long term entrepreneur or you are starting a business, you will probably need help with prioritizing goals, paying yourself while keeping the business going, and the best way to maintain and optimise cash flow on an unsteady income. Additionally, a financial planner can help you with things like obtaining health insurance, saving for retirement, and income protection.
• You plan to make a large purchase – Often careful budgeting will allow you to handle big purchases. However, if you are planning to purchase a home or make another large investment, understanding the effect it will have on your cash flow, your lifestyle, and your future is very important. A financial planner can help you decide how much home you can afford, create a budget for home maintenance, and advise you on any other goals you may have, and your future savings.
• You change careers – Career changes often mean income and benefit changes. A financial planner can help ensure you don’t leave any retirement accounts behind and help you plan for future income fluctuations.
• A growing family – Having a baby is a wonderful thing, but it brings with it many things to think about. You will want to ensure you have an emergency fund of three to six months’ expenses, adjust your spending to include childcare, additional groceries and medical expenses. You will also want to update your estate plan and insurance coverage in case something happens to you. A financial planner can help you with all of these things.

At Tradebusters Connect we have selected a limited number of financial planners in your local area to be members of our directory service. We are sure one of them will be a good choice for you.

Their contact details are available here on this website, and you are free to contact them directly. Don’t forget to check out their special offers!