What does a financial planning adviser charge?

Are you thinking about seeing a financial adviser? Here’s how much it could cost you.

Whether you’re looking to strengthen your financial position post-pandemic or want to achieve goals such as home ownership, a financial adviser could help you create a plan to get there.

However, for many Australians, one of the big barriers to getting financial advice is the cost.

In 2019, ASIC research found that 41% of Australians intended to get financial advice in the future. Despite this, 35% of respondents said one reason they did not or might not get advice was because they thought it was too expensive.

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Brennan is able to accumulate more money than his brother, Dale, despite saving less money and for a much shorter period of time, simply because he let time and compound interest work in his favour.

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You are not stupid.

There is a popular belief that some people have it “much easier” than others when it comes to investing…

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The best metaphor for what a Financial Advisor does I've ever heard….

“Having a financial advisor co-ordinate your financial roadmap is kind of like having a pilot flying your plane. In my view, having a financial planning advisor is similar to the experience of having a pilot fly the plane. You need a pilot when you are taking off and when you are getting ready to land….”

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Why do you want to be financially free?

Are you sick of trading your time for money?

Is it TIME to take back control and spend TIME on what is important to you?

This includes spending time with loved ones, working on things that are aligned to your passions and purpose, and making memories doing things you enjoy.

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The pandemic’s most enduring impact will be as an accelerant.

“Nothing can happen for decades & then decades can happen in weeks”

In any crisis there is opportunity. The greater & more disruptive the crisis, the greater the opportunities.

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Want to improve your mental health?

Fix your finances

Poor mental health means managing money is harder.

Worrying about money makes your mental health worse.

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Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual.

Bitcoin operates outside the mandate of a central authority (no government or company runs Bitcoin)..

It was created by a person or group of people under the name Satoshi Nakamoto in 2009 and was intended to be used as a method of payment free from government supervision, transfer delays or transactions fees. However, bitcoin is not yet widely accepted for all transactions as some consider them too volatile to be a suitable method of payment.

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What is your run rate?

Watching the cricket over the past few weeks has reminded me of how financial planning has a lot in common with cricket.

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Compound Interest

The great Albert Einstein described compound interest as the eighth wonder of the world.

“He who understands it, earns it; he who doesn’t, pays it”

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How to start investing

On paper, investing money seems like a no-brainer. You put a portion of money away and let time turn that loose change into a small fortune.

So why wouldn’t you do it?

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INVESTING 101

Investing isn’t just for people who already have a lot of money.

Many people who come to us, have heard a whisper about the power of investing and they want to get their head around exactly what it could mean for them.

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Your life is too important to stay trapped in the cycle.

When you spend more then you make, you go in to debt. Spending more than what you make “sells” your income to the future. Without a plan to catch up to the cost of the money you’ve already spent, at some point the interest costs become a significant monthly expense and your debt will accumulate, increasing even faster.

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Ask our Advisors - Should I top up my super?

“Should I put my savings into my super to boost it?”

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Q. "Is now a good time to buy a first home or should I wait?

Do you think property prices will drop further when the mortgage freeze ends?

As a solo first home buyer, I am struggling to find affordable homes at the moment."

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A world of pain for life insurance

The life sector was front and centre during COVID-19 as consumers, through a variety of experiences with death, illness, or losing work due to the economic crisis, “suddenly” woke-up to the entire life insurance topic.

We found many more clients asking about personal insurances, as COVID-19 had everyone reaching for their policy documents, in the same way consumers pore over T&Cs in their house insurance policies after a bushfire or flood.

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Financial Stress is the biggest cause of break-ups.

The first step could obviously start by sorting out your finances, tightening your belt or getting a financial plan, whether through professional financial advice or a more DIY route.

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Life is the most difficult exam.

Many people fail because they try to copy others, not realising that everyone has a different question paper.

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One of the keys to investment success is to avoid the noise. Investment noise is the constant drumbeat of extraneous information that we’re all subjected to day in and day out. It comes to us via the financial press, the internet and even in the workplace. Ignore this noise and your odds for success increase.

Click the link below to learn more from our Newcastle Financial Planning Advisers.

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The ‘ostrich effect’ is the decision to ignore dangerous or negative information by “burying” one’s head in the sand like an ostrich. Or investors “put their head in the sand” to dodge facing their financial portfolios when they're expecting bad news.

Research suggests that investors check the value of their investments & superannuation funds significantly less often during bear markets.

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