LIFESTYLE EXPENSE PLANNING IPSWICH
Planning on any of the following expenses; buying a car, holidays, education costs, house deposit, renovations, wedding?
From time to time, we all have these large expenses, planned or unplanned. But, planning for these expenses is essential.
At Total Wealth Management, we can assist you to manage your cash flow (income and expenses) so that you can not only reach your financial goals, but also your personal goals and help you to select the most appropriate funding mechanism for those planned large, one-off expenses.
STEPS OF LIFESTYLE FINANCIAL PLANNING
- Initial meeting with us (It’s FREE!)
- Collect financial information & data: You will be given an Excel document to complete after our meeting. This data is checked before being imported into our planning tool.
- Analyse & interpret: Based on your financial goals, our advisors will review and explain the potential challenges in your financial situation.
- Strategy session: We provide you our recommendations and walk you through several simulations. We combine all of this and create your comprehensive strategy, including the most recent estimates and objectives.
- Action plan: This could entail investing, saving more money, increasing spending, and, if necessary, putting trusts or estate planning into place. We’ll also establish attainable benchmarks.
- Implement & Review: We arrange regular meeting to review and update strategies to match the latest changes of your financial status or any emergency.
Funding strategies to be considered may include:
- Regular savings plan
- Obtaining a loan
- Tax effective education investments
- Withdrawing from your investments or superannuation
- Increasing the income or taking a lump sum payment from your retirement income stream