Wealth Creation - some people jump to the concept, yet for others the thought alone can start your head spinning, or worse, your stomach. Rest assured, no matter what your tolerance is for risk or your aptitude for financial matters, there is a solution for you.

The story of creating wealth

The earlier you start saving and investing the better. This is because of the impact that time and compounding have on your money.  Interest accumulated over time through shares and managed funds will be earned on the original money you invested, plus additional investments, plus all the interest previously accumulated.  Also, the sooner you begin to save, the more experienced and attuned you will become to the activity.

Start saving

Regular investing is a particularly effective and convenient way to help you reach your financial goals. Even a little money invested regularly can grow into a tidy sum over time.

The easiest way to save is through a regular investment plan. By investing an amount each month, you will be well on your way to developing substantial savings, and this introduces you to the world of investing.

A regular savings plan over the long-term will help smooth out your purchase price of those investments through the market's ups and downs, thereby reducing the risk of investing in volatile markets.

Maximise your savings and diversify your investments

Always maximise the return on the money you do have by opening higher interest earning savings, cash management or term deposit accounts.

The wisest investment strategy follows the old adage - “don’t put all of your eggs into one basket".  Your investments should be made following a clear strategy that diversifies your risk through spreading your investments. In addition, the best strategy for you takes into consideration your investment time frame, goals, current financial situation, and importantly your risk profile.

Protect what you have

Savings plans, superannuation, property, direct shares and managed funds are all tools that help create wealth and achieve financial goals - especially for retirement.  

However, as your savings and invstments grow your replacement risk becomes greater if something troublesome were to happen to you or your ability to earn money. This is why you often hear it said, “a financial plan is not complete without wealth protection.”

It is very important that you protect your wealth and your family both now and in the future. This is normally achieved through the use of various risk insurance products.  Your adviser will assist you with the most appropriate type and level of protection you require.

Tips for everyone:

• Define your goals and your financial needs on a regular basis – things change and so can your priorities.
• Know and understand your own risk tolerance.
• Set a time frame for each of your goals.
• Seek advice
• Be realistic
• Balance your savings and investment strategy with your goals, time frame, and risk tolerance
• For those who are between the ages of 35-55, your financial plan should include a plan for your retirement, and it should be a high priority