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How advice can help you achieve independence


Published 9 August 2017

To ensure your super delivers the independence you’re looking for in life, you may need advice.

  • A financial planner can be integral to developing a confident, lifelong plan.
  • Often, without advice, we continue to increase our lifestyle and spend more.
  • The purpose of advisers is to protect what you have and make it work harder.

Independence is something we all strive for. Being able to do the things we want minus money woes is powerful. But for most of us, it's not easy to attain or maintain.

The main route to reaching such a state of independence is to take care of your hard-earned cash, so it increases to meet ongoing needs. One of the easiest, most available tools to do this is superannuation – in fact, this is exactly why it exists.
 

You need a strategy that keeps delivering

You may have set up your super account right, but a truly successful super strategy requires a little groundwork, if not help.

One way to do this is to seek advice from a financial planner who can outline appropriate super strategies that deliver for as long as you need.

Adele Martin, financial planner and proprietor of Firefly Wealth, defines independence as having choices: “It doesn’t always mean retirement as a lot of people may not want to retire,” she says. “But it means being able to do what you want.”

Taking control of your super is an important part of achieving independence. “Having an adviser can help when you want someone to bounce ideas off, especially around rule changes,” Martin says. “They can provide you with greater confidence and certainty.”

Start when you’re young

RetireInvest Morisset proprietor, Glenda Chase, says when it comes to super, it’s important to get advice early. “There are a lot of structures that can help young people accumulate funds and make those funds work for them,” she says.

Advice can be quite basic, such as working out a budget and showing where all your money is going.

“Many people don’t know what they’re doing with their money,” Chase says. “If all they’re doing is working and spending, they’ll continue to increase their lifestyle expenditure, which will absorb all of their funds.

“So you need to talk them through the potential of saving a small amount today that turns into a larger benefit in the future.”

Seek good advice

Chase also tells clients to look at their super as something where the harder you make it work for you, the better your life is going to be.

It’s more important than ever to seek advice, especially with the government changes to superannuation rules. “Advisers are able to review your finances and, with the right advice, help you protect what you have while giving you strategies to make it work harder,” she says.

“The ultimate goal is financial freedom.”

Take charge of your independence

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