Did you know that someone who starts saving with the help of a qualified financial adviser at age 30 could be more than $91,000 better off at retirement? This astounding figure comes from analysis by KPMG¹ that shows the significant benefits of good financial advice. And it’s not just those starting early who can improve their finances – even those who receive financial advice later in life can benefit, with an average Australian aged 60 gaining a potential $29,000 more by age 65.
If you have experienced the benefits of financial planning, you may know that financial security is much more than simply savings. It’s about taking charge of your financial situation and ensuring you are in control of your financial future, no matter what life throws at you. Even when you face additional financial commitments—like becoming pregnant, taking on a mortgage, paying a child’s school fees, or meeting unexpected medical expenses—working with a qualified financial adviser will help you to navigate the challenges with confidence and peace of mind.
And when you have a sound financial plan in place, you know what’s required to achieve your specific financial goals—whether it’s buying your dream home, taking that trip of a lifetime or retiring in style. Once your financial plan is in place, the trick is to keep in touch with them on a regular basis to ensure your plan remains up-to-date and relevant to your particular circumstances. After all, life is full of changes, and your financial strategies need to adapt to reflect your evolving life stages.
Increased savings benefit all Australians
Increased savings don’t just benefit you and your family; they also contribute to the Australian economy as a whole, with higher national savings leading to less dependence on foreign finance. In their in-depth analysis, KPMG estimated that just a 5% increase in the number of Australians receiving financial advice would equate to $4.2 billion extra in national savings over seven years. That’s an astonishing figure that would significantly benefit all Australians.
Yet despite the benefits, only 20% of Australians currently seek out advice from a financial adviser. Instead, the majority ask a family or friend who—although may have their best interests at heart—are less than qualified to give sound financial advice.
¹ 18 January 2011, KPMG “Value Proposition of Financial Advisory Networks – Update and Extension”.
So if you’re ready to put a sound financial plan in place which can help you have a better tomorrow, speak to us today on 1300 788 650.
This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this document, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This document is solely for the use of the party to whom it is provided.
