Wealth Creation and Accumulation

Relying on the superannuation contributions paid by your employer may not provide sufficient wealth to meet your income needs throughout retirement.

Current research indicates that most people are only saving between 50% and 65% of the amount they need to achieve their desired retirement income. They therefore have to either reduce their lifestyle in retirement and/or continue working past their planned retirement age simply because they can’t afford to retire.

In order to become financially independent most people therefore need to build their wealth during their working life. Unfortunately too many people do not know how they should go about this.

Wealth creation is not about speculation, get-rich-quick schemes or trying to select next year’s highest performing investments. Wealth creation is best achieved through a range of strategies and effective investment that requires planning and action. Keeping abreast of changing legislation, making the most of the opportunities available to you, and structuring your finances appropriately are all fundamental in assisting you in achieving your lifestyle and financial objectives.

As with any journey, unless you have a destination you'll probably never arrive. Therefore, the first step to having financial independence is to plan for it. Unless you start taking some positive steps, financial independence shall be nothing more than a dream.

Remember, long term financial planning is pivotal in securing your financial independence in later life.

Contact us for more information.