What do Novocastrians want financial advice on?
Investments, retirement, superannuation and cash flow.
These are the financial issues that keep Australians awake at night.
According to the recent ASIC report, the topics Australians want financial advice on include:
Investments (e.g. shares and managed funds) 45%
Retirement income planning 37%
Growing superannuation 31%
Budgeting or cash flow management 22%
Aged care planning 18%
79% of Australians believe “financial advisers have expertise in
financial matters that I do not have”.
1. Investment Advice
45% of Australians want advice on investments (e.g. shares and managed funds).
Researchers have discovered over 200 unconscious biases that influence our decisions, which could have a detrimental effect on our future wealth.
People tend to let their emotions and other human tendencies influence their decision making. But when it comes to investing, acting like a human may actually cost you money..
“To be a successful investor, it is important to be objective and disciplined when making investment decisions.
This is the critical role your Newcastle Financial Adviser plays in securing & growing your wealth. Your Newcastle Financial Planner will provide you with investment advice that will support your situation & goals, in addition to support you in managing your wealth moving forward, to ensure you do not make any costly investment decisions.
2. Retirement Income Planning
37% of survey participants wanted advice on retirement income planning.
The recent ASX research report states that a couple seeking a ‘modest’ lifestyle in retirement requires a lump sum of at least $400,000 (without the age pension) invested and returning 7% p.a.
In order to have a ‘comfortable’ retirement, households will require double this amount to $800,000.
One of the most important jobs your Newcastle financial adviser has is helping you to determine the best investment strategy and risk profile to achieve your long-term retirement objectives.
Investing early to accumulate wealth will make the difference between a modest and a comfortable retirement in the future – and whether or not individuals will need to rely on the age pension.
Your Newcastle Financial planners, can help you craft a diversified portfolio that is intended to provide not just a comfortable living when you eventually retire, but also design a strategy that takes into account your age, circumstances and risk appetite.
3. Superannuation
31% of Australians also want advice on growing their superannuation.
Now, superannuation seems to be another one of those financial topics that people know about, but don't truly understand, despite the major long-term benefits.
In fact, research has found that
Australians under 30 years of age tend to have higher balances in their superannuation accounts than their bank accounts.
And yet, 40% of young people have absolutely no idea what their superannuation balance is.
There are also several tax deduction benefits related to superannuation contributions, and this is the kind of information your Newcastle financial adviser can provide while helping you get the most out of your superannuation plan.
4. Cash Flow
22% of people wanted advice on budgeting or cash flow management. And for good reason.
This is where we can really make an impact in your current day-to-day life – not just decades down the track. We can help you manage your monthly budgets, reduce your debt and make sure you have enough cash flow to comfortably make it to the end of each month.
What do you want advice on?
As you can see, your Newcastle Advisors can offer a wealth of beneficial advice that is not limited to investments alone.
Better yet, in the long run, the value of good financial advice can far outweigh the upfront costs of seeking advice.
Contact our Newcastle Financial Planners to understand your options & sleep better at night knowing you are in control of your financial future.
What do Australians want financial advice on? What do the residents of Newcastle want financial advice on? What do the residents of Lake Macquarie want financial advice on? What to the residents of the Hunter Valley want financial advice on?
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