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It’s your financial future, learn to plan for it, now!

It’s your financial future, learn to plan for it, now!

It’s your future. Do something about it now.

“It’s not the plan that’s important, it’s the planning.” – Graham Edwards

You can have the best plan in the world but if you don’t act on it, why bother with one?

 

Top 5 Tips on How to plan for your financial future.


1.    Avoid the ‘I’ll get around to it later’ attitude

Stop delaying the need to plan for retirement with time-poor excuses, and lack of interest. Time ticks away, and every day you put off planning is a day you potentially forego retirement opportunities.
Don’t just sit on your plans, get things happening. It’s your financial future so make it an urgent priority.


2.    Where do I start?

Many people find it hard to take the first step, so instead of thinking about how do I start, it’s better to visualise the end game.

  1. What is their big picture?
  2. What do they visualise?
  3. What kind of lifestyle do they aspire to achieve?


By starting the planning process with the end sight in mind, it’s easier to take the first planning steps towards this ideal destination.


3.    Why even bother?

Stop thinking about the negative, and take on a fresh positive attitude. Some  do not like to face their realities for the fear of facing a grim outlook but at least becoming self-aware of your financial position and working hard towards improving it, is better than feeling hopeless. Get bothered to improve your situation now to retire with comfort later.


4.    Never assume it’s too late


It’s never too late to make a change especially if it means a brighter financial future. You may have missed out on certain opportunities up to now but it shouldn’t stop you from starting to plan now. In fact, this should be the motivation to catch up on lost time, and start getting a plan together.


5.    Take control


Get into the habit of understanding your financial position, and actually get a budget together. Knowing how much money comes in and goes out means you are in control of your finances, and you can adjust your spending to fit within your means. Get in control, and be the master of your destiny, and don’t leave it to just chance and luck. Only you can make a difference. Making some sacrifices now could mean a better lifestyle for your retirement, and it’s good to learn how to be financially savvy.

Related Article: Planning for retirement must knows and dos

Do you need to further assistance on your planning situation? Our professional advisers can point you in the right direction.

For more help on reaching your superannuation goals, talk to a Dome Financial Adviser in Charlestown, Tamworth and Hunter Valley.

The information contained on this page is for discussion purposes only and is not intended to constitute financial product advice. It does not take into consideration any persons objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual before making a decision based on any information on this page.

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P: 02 4969 7069 | 1300 723 300

E: admin@domefinancial.com.au

Australians’ Top Financial Regrets | Dome Financial Group

Australians’ Top Financial Regrets | Dome Financial Group

What are Australians’ Top Financial Regrets?

No one is perfect, and we can all admit to making poor decisions in our lives, and feel guilty about leaving things to later.  Well, it’s time to learn from mistakes and avoid the top 3 ‘financial’ regrets Australians are having.

According to the FPA ‘Live the Dream’ 2017 National Research Report courtesy of www.moneyandlife.com.au/livethedream, Aussies’ biggest regret is NOT saving enough.

Top 3 Financial Regrets

 

  • Not Saving Enough

 

The biggest regret for 37% of Australians is not saving enough.

Not having enough savings impacts upon retirement lifestyles, and restricts lifestyle choices.  It is also the biggest obstacle to Australians ‘living the dream’ according to the FPA research.

If ‘living the dream’ is something you desire, it’s essential you become a good saver, and make it a life habit.

It’s Good Money Management Skills 101! Without mastering this skill, it gets harder, financially, to live the lifestyle you dream about.

There are many apps on budgeting and savings around or plenty of financial planners who can give you a hand so get off the sofa and start saving..

 

  • Poor Decisions

 

30% of Australians regret making poor decisions.

We can all admit to making mistakes at one point or another in our lives perhaps caused by poor decisions and poor judgement but we should be able to learn from our experiences, and learn to make better decisions going forward.

Decisions to set financial goals, and sticking to a plan would be on top of any financial planner’s list.

The decision to start making good life choices. To not just dream about your future but decide to make it happen are some of the  things, only you can control, and do something about it.

Once a decision is made, seek help and get good advice from professional financial planners – they are only too eager and happy to help.

 

  • Not investing enough

 

19% of Australians regret not investing enough

Time flies by! It doesn’t wait for you to realise you haven’t invested enough for your retirement. When that moment of realisation happens – it’s too late.

Don’t leave your future to chance. Start to set clear goals, get a plan worked out in consultation with a planner, and start to make good investment decisions now, not later..

Starting to invest early in life can elevate your chances of financial success, and definitely more of  a stress-free lifestyle than someone who ponders at retirement age what they should do.

There are many investment options and choices available to you. You can start small and grow your savings, and you can spread your investments around to suit your financial attitude and appetite.

Don’t procrastinate! Seek advice and educate yourself on how you can grow your wealth to suit your level of comfort and financial goals.

As quoted in the FPA research:

‘The Australian ‘no worries’ attitude is being challenged, at least regarding personal finances. Australians are no longer likely to state they have ’no worries’, as 80% say money and finances cause them some level of stress.’

It’s time to end the financial regrets and learn from our mistakes. If you’re ready to make positive decisions about your financial future, speak to us. We can offer valuable advice and recommendations for you.

Talk to a Dome Financial Adviser in Charlestown, Tamworth and Hunter Valley.

The information contained on this page is for discussion purposes only and is not intended to constitute financial product advice. It does not take into consideration any persons objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual before making a decision based on any information on this page.

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P: 02 4969 7069 | 1300 723 300

E: admin@domefinancial.com.au

Why should you care about financial planning?

Why should you care about financial planning?

Financial Planning is still an unknown topic for those who do not have a relationship with a financial planner, and many people still ignore the importance of planning for their financial security and future.

So, let’s break ‘financial planning’ down into easy understandable chunks, and highlight why you should care about financial planning for your future wellbeing and happiness.

What is financial planning?

Financial planning is all about YOU, and what you want to achieve financially for you and your family.

It’s not about which investments you should have or which managed fund you should invest into or which stock or shares you should buy and sell.

It is more than that. It has emotional value attached to it, and it has everything to do with what YOU want to achieve in life, and what means the most to you.

It’s planning for your future. It’s about painting a ‘big picture’ of your goals, dreams and objectives so that a roadmap can be designed to help you navigate your way to to your ‘big picture’ destination.

What do you want out of life?

Financial planning is about helping you determine your own answers to this question.

It’s about taking the time out of busy chaotic lives, and focusing your thoughts on one’s situation first, and laying down the steps for a future of financial independence.

Why?

To be able to do what you want in life minus the financial constraints.

Financial planning should be a priority whether you’ve just got your first job to starting a family to looking at retirement options. As they say, the earlier you start planning and caring for your future, the better prepared and organised you will be to give yourself an edge or a head start in life that could prove to be the difference in achieving financial independence over financial dependence.

Can you do it alone?

Yes, but do you have the expertise, skills and the strategic knowledge to do a proper job on your own?

And, what about time?

It’s hard enough holding up a full-time job, balancing family commitments with work, and don’t forget your weekends are taken up with sporting activities, chauffeuring your kids from one birthday party to another, and getting ready for the week to start again.

Anything can be done on your own, but when it comes to specialist knowledge based advice, you’d want to make sure you’re getting professional advice that is right for you, personalised to your situation, and most importantly, one that is strategically designed to help you achieve your goals and objectives.

Engaging a trusted professional adviser can make the process easier, and you get your own dedicated ‘coach’ to keep you on track and accountable.  This relationship can be priceless when it comes to turning your financial aspirations into reality.

Don’t forget, YOU are in the centre of planning for your financial future. All planning should revolve around you and your family.

Planning is about guiding you to your desired financial destination.

For more help on your financial planning goals, talk to a Dome Financial Adviser.

The information contained on this page is for discussion purposes only and is not intended to constitute financial product advice. It does not take into consideration any persons objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual before making a decision based on any information on this page.