Why should I have a financial plan?
As Lewis Carroll implies in Alice in Wonderland “if you don’t know where you’re going, any road will do”. It’s the same with a financial plan. If you don’t have goals and a plan you will end up somewhere. But will it be somewhere you want to be?
It’s very important to know what your financial goals are and to have a plan in place to achieve them. Do you want to own your own home? Retire early? Work part-time from age X? Go on annual holidays in retirement? If you don’t intentionally plan you may find out too late that you won’t be able to do the things you want to do.
Sometimes planning is easy, skip the purchased lunches and go on a holiday at the end of the year. Other times, it’s more complex and you may need the help of a financial planner. How much do you need for a home deposit and how long will it take to save? Should you put your savings in a bank account or offset account or are there other options to consider? Should you make extra mortgage payments or contribute to super? How much do you need to retire comfortably?
A financial adviser will listen to your goals and help you with a plan to achieve them. At Genki Finance, we want you to achieve your goals and enjoy your life. If you’re saving for a home, repaying debt or preparing for retirement, feel free to get in touch to discuss how you’re going and if you’re looking to be on track.
After all, you wouldn’t drive somewhere new without a charged-up phone and GPS – so why wouldn’t you plan something as important as your financial future?
Alison Kaigan - Your Canberra Financial Adviser