What is a financial adviser?

A financial adviser or financial adviser, is a professional who suggests and renders financial services to clients based on their financial situation. Many financial planners offer a complimentary introductory meeting as we do. The introductory meeting is your opportunity to make sure that you feel comfortable with our professional standards, and that you get on well with us. Financial planning is a relationship business and not just a one-off meeting. We implore you to ask plenty of questions at every opportunity. Sometimes our clients say, they don’t know what to ask as they don’t know what strategies are available, so that is where we listen, review and investigate and develop a plan that we discuss with you awarding the merits of each recommendation. Many are tax driven recommendations and future financial well-being principles.

A financial adviser can help with savings goals, for example, starting from a zero base at what age, how much do I need to save to retire at age 65 and live on $52,000pa for 25 years..?

Age 25, needs to save close to $850pm for 40 years to have a retirement nest egg of $1,297,000 at an average earning rate of 5%pa, not taking into account, fees, taxes etc.

Age 30, needs to save $1,150pm for 35 years to have a retirement nest egg of $1,306,000 at an average earning rate of 5%pa, not taking into account, fees, taxes etc.

Age 40, needs to save $2,200 for 25 years to have a retirement nest egg of $1,310,000 at an average earning rate of 5%pa, not taking into account, fees, taxes etc.

The only problem with all of these scenarios is that the government wants (as its law) for you to take out 5% at 65 and 6% from age 75, 7% from age 80 and so on, so they may make you take out more than you need, so what do you do with the excess..?

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‭08 8130 5500 admin@plus7fm.com.au

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Suite 1, 1 Alexandra Avenue, Rose Park
Adelaide SA 5067

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Financial Planning
Investment
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