A question we often get asked from new and existing clients is “How do I (we) Achieve Financial Security?”In theory the answer is quite simple… yet in reality it’s much harder to put into practice — WHY — because it takes discipline to maintain a strategy for the long term.

The good news is a well constructed plan can help you achieve financial security … however merely implementing a plan is not enough. The advice we provide all our clients is very much aligned with the main points raised in an article written by Denise Appleby (a regular guest on CNBC’s Business News and often quoted in The Wall Street Journal) entitled 10 Tips For Achieving Financial Security

Denise writes “When it’s time for you to retire, will you be able to afford it? Almost all of the research conducted on the subject, over the last few years, shows that most individuals are unable to demonstrate financial readiness for their retirement years. This only serves to underline the fact that saving for retirement is a challenging process that requires careful planning and follow-through.”

The main tips that we feel are relevant to our clients and their families are as follows :

  • Start as Soon as You Can
  • Treat Your Savings Like an Expense
  • Save as Much as You Can in Tax Advantaged Areas i.e. Super
  • Consider Your Current Living as Your Likely Retirement Living Expenses
  • Budget
  • Periodically Reassess Your Portfolio
  • Reassess Your Expenses and Make Changes Where Possible, and
  • Work with an Experienced Financial Planner.

While the article is written from an author based outside Australia the underlying principals are the same. If you would like to read the full article or explore the specific areas in greated details the full article can be accessed by clicking here.

Important Information: The information in this document is of a general nature only. Before you make an investment decision you should assess for yourself or obtain professional advice on whether the information is appropriate for your particular investment objectives, financial situation and particular needs.

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