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Tax changes – what it will mean to me

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Market movements and review video – February 2024

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In your 40s? Here’s what you need to consider to get ahead financially.

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Investing mistakes to avoid

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2023 Year in Review

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Navigate Your Finances Seek Professional Financial Advice

Navigate Your Finances | Seek Professional Financial Advice for a Prosperous 2024

In the pursuit of financial success, connecting with financial experts is a game-changer. Tailored guidance from professionals can shape a prosperous and financially savvy 2024. Here’s why seeking expert advice is pivotal for your journey to success.

1. Expert Insight:
Financial experts bring a wealth of knowledge and experience to the table. Their insights help you navigate complex financial landscapes, providing a deeper understanding of investment opportunities, risk management, and wealth-building strategies.

2. Tailored Guidance:
No two financial journeys are identical. Financial professionals understand this and provide personalized advice based on your unique circumstances, goals, and risk tolerance. This ensures that the strategies align specifically with your aspirations.

3. Holistic Financial Planning:
Financial success is not just about investments; it’s about a holistic approach to managing your finances. Professionals assist in comprehensive financial planning, including budgeting, debt management, retirement planning, and more. This well-rounded strategy addresses all aspects of your financial life.

4. Stay Informed About Market Changes:
Financial markets are dynamic and can change rapidly. Staying informed about these changes is crucial for making informed decisions. Financial professionals keep abreast of market trends, helping you adjust your financial strategy as needed.

5. Optimize Tax Planning:
Navigating the intricacies of tax regulations can be challenging. Financial experts have a deep understanding of tax planning strategies, helping you optimize your financial situation and potentially reduce tax liabilities.

6. Achieve Long-Term Goals:
Whether you’re saving for a home, funding education, or planning for retirement, financial experts help you chart a path toward achieving your long-term goals. Their expertise ensures that your financial plan is aligned with your aspirations.

7. Peace of Mind:
One of the significant benefits of seeking professional advice is the peace of mind it brings. Knowing that your financial plan is well-thought-out, backed by expertise, and tailored to your needs allows you to focus on other aspects of your life with confidence.

As we embark on a new year, make it a resolution to prioritize your financial well-being. Seeking professional advice is an investment in your future success. Connect with financial experts to receive personalized guidance that will set you on the path to a prosperous and financially savvy 2024!

Remember, your financial journey is unique, and having a trusted advisor by your side can make all the difference. Cheers to a financially successful year ahead from Intergenerational Wealth!

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Market movements and review video – December 2023

Stay up to date with what’s happened in markets and the Australian economy over the past month.

Consumer prices eased by more than expected in October. The news that inflation may have been tamed means interest rate rises may be behind us, for now.

Even the Organization for Economic Cooperation and Development (OECD) is optimistic about our economic recovery, predicting rate cuts from late 2024.

The ASX200 regained most of its October losses through November. Hopes the US may be ceasing its interest rate hikes impacted investor sentiment, as did the better than expected inflation figures locally.

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How iron ore plays a big part in our economy

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A financial safety net through super

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Time for an annual tune-up

Checking in on your goals, finances and health

We don’t think twice about taking our car in for a regular tune up. Why? Because we know it’s going to mean our car runs at its best and saves unexpected problems down the track. It follows then that we should take the same approach to other areas of our lives. From our goals, to our finances, to our health, there’s so much to be gained in checking in regularly to make sure everything’s tracking well.

Kick your goals into gear

A good place to start is with your goals. If you set some at the beginning of the year, take some time to reflect on how you’re tracking. If you didn’t, there is no time like the present to stop and think about what you want for your future.

The next step is to make a plan. This will involve writing down your goals then looking at what resources you’ll need to help you achieve them. You want to make sure you have allocated enough hours and dollars towards making them a reality. This will also dictate your overall timeframe. Set regular, realistic deadlines with measurable sub-goals and make sure you have someone in your corner to hold you accountable.

Remember too, that your goals don’t need to be bigger than Ben-Hur. They might just be to see more of your friends or put a bit extra aside each month for a holiday. Reflect on the little things in life that bring you joy, and what you can do to pursue them.

Fueling up your finances

Once you’ve got a handle on your goals, it’s a good idea to review your finances. The new financial year presents the perfect opportunity.

Start by reviewing your budget. If it’s not currently working for you, what changes can you make to start taking meaningful steps towards your goals? Maybe there’s an online subscription you aren’t using or you’re having one too many meals out. Shopping around for a better deal on your utility bills, as well as the interest rate on your mortgage and credit cards, is another worthwhile consideration.

It’s also wise to take a proper look over your investments. Review your asset allocation and risk tolerance to make sure that your approach is still in line with your present situation as well as future goals.

For many of you, your biggest and most tax-effective investment will be your superannuation. It makes sense then to ensure you’re comfortable with what your fund is returning as well as your current risk profile.

Your super may also include some level of insurance cover. If your circumstances have changed, it might be time to review. We can assist you in assessing whether you are adequately protected, looking at options both within and outside of super.

Get a handle on your health

Even if you’re feeling fit as a fiddle, a regular health check-up can be a worthwhile investment of both time and money that could help you to live a long, happy and healthy life. If you have reached a milestone birthday it’s worth speaking to your GP about any recommended tests.

Likewise, your physical health doesn’t start and end with a doctor or dentist visit. Getting into some exercise habits now and changing your eating habits could bear dividends for your long-term health and well-being.

Someone in the passenger seat

No matter where you’re going it’s always helpful to have someone in the passenger seat to help you navigate the way. For your goals and your passions, it might be a friend, partner or family member. For your health, it’s a doctor. And when it comes to your finances, we can help you protect the lifestyle you have, while mapping out the journey to achieve your ideal future.

If you need help with the financial aspects of your annual tune-up, give us a call. We’re always here to help.