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Invest in your future

Feeling powerful? You should be. From budgeting to setting a goal and saving, you’ve done the hard yards to start getting on top of your finances. In this final step, we look at how to grow and protect your money for now, and into the future.

 

Highlights

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Ways to invest

Protect your wealth

 




1. Ways to invest

Options to start building your wealth

The golden rules of investing are:

  • work out your financial goals
  • decide how much risk is best for you
  • check your investment is licensed, for example, you can check basic facts about companies, schemes or personal property at ASIC
  • get to know the investment
  • use diversification to spread your risk
  • watch out for get rich schemes and investment schemes.

Source: ASIC’s MoneySmart.

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Property

Whether you’re focused on paying off the mortgage as quickly as possible or owning investment properties, this can be an effective way to build wealth. A property boom saw median values increase by a staggering 88.3 per cent in Sydney over the past decade while negative gearing and property depreciation concessions can deliver tax benefits. But do your research, as not all property sells at a profit, and be patient – capital gains take time.

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Superannuation

Super is most typically invested in shares, so you could think of it as your personal share-investing portfolio. For most people, 9.5 per cent of your pay goes to super, and there may be generous tax concessions for any extra contributions you make. Remember the three C’s: regularly check to make sure your choice of investment options and insurance suit your lifestage, contribute extra when you can and consolidate your accounts so you’re only paying one set of fees.  

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The sharemarket

Typically, the starting amount for investing in shares is $500 (plus brokerage fees), so if you're thinking of kick-starting your investment portfolio, you could be closer than you think. While the sharemarket has historically gone up over time, there are periods of short-term volatility, so be prepared to ride out the ups and downs of the market.

Feeling more familiar with investment options? You got this …

Generally, the lower the risk, the lower potential return. You'll need to take some risk to end up with a healthy return over time. Help protect your wealth by researching any investment thoroughly,  invest at your comfort level and have a plan in place for a rainy day.  


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Pro tip

Whether you're starting out or looking to tune up your knowledge, ASIC’s MoneySmart Investor Toolkit helps with the investing essentials. Answer a series of questions to build your investing profile and it will suggests actions you can take based on your level of expertise and risk profile.

2. Protect your wealth

Ways to prepare for a rainy day

While we like to think bad things won’t happen to us, lives are disrupted every day by serious illness, job loss or worse. Have you got a financial emergency plan in case something happens to you or your family’s main breadwinner?  

Following are some steps you can take to get prepared.

 

Take out insurance

Life insurance, income protection, home & contents and car insurance all play their part in protecting your wealth. This isn't just cover for you; it's protection for the people you live for. From loss of income to loss of property, it will support your family in times of need.

 

Save for a rainy day

Putting away three-to-six months’ worth of living expenses into an emergency fund will give you the peace of mind that you can cover your regular bills if you lost your income. This also means you can avoid going into debt. Cut spending on ‘wants’ until the crisis passes.

 

Future-proof your earning power

Fear of losing your income can cause stress and anxiety, but take some comfort knowing there are some strategies you can apply now to help protect your income-earning power and enhance your future employment potential.

 

Invest in assets

Investing in shares (e.g. ASX-listed companies) and other assets like an investment property can help you build your personal wealth and income-earning potential over time, while also providing a layer of protection in the event that you need to free up some cash. However, there is a real risk of making a financial loss if you sell in a down market.

Time to call in the professionals?

ANZ Financial Advisers can help with complex wealth needs so if you have a combined household income of more than $250,000, or savings and investments of more than $500,000 (excluding your family home), an ANZ Financial Adviser can offer bespoke advice built on their expertise, helping you achieve your life goals.

Learn more

High fives from your future you.

You’ve completed the last step in the ANZ Financial Wellbeing Program. We'll be right here for you anytime you need a refresher.

What's next?

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Know where you're at

Calculate your Financial Wellbeing Score.

Get my score

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Plan your spend

Yes, it’s a budget. But not as you know it.
Start planning

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Manage debt

The good, the bad and the useful.
Get started

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Set a savings goal

Set it, to get it.
Start saving

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Organise your accounts

Set, select and relax.
Start organising

The information set out above is general in nature and has been prepared without taking into account your objectives, financial situation or needs.  By providing this information ANZ does not intend to provide any financial advice or other advice or recommendations.  You should seek independent financial, legal, tax and other relevant advice having regard to your particular circumstances.

ANZ does not use the information you provide for the purpose of assessing any application.

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