There’s plenty to consider when trying to secure your financial future. Should I pay off the mortgage or put money into super? And what about those renovations? When can I stop work? How do I afford the children’s education?
For pre and post retirees it’s about managing capital and income and importantly ensuring that investment portfolios are structured, built and managed to withstand periods of market volatility.
In recent times and as a result of the recent falls in global stock markets we have read many stories of none advised clients moving to cash at a time when they should have remained invested, effectively these clients have crystalised losses at a time when assets were depressed and this could have a disastrous impact on their retirement planning.
While these financial benefits of advice have long been established, can financial advice positively affect the more intangible aspects of our lives?
What is the true value of advice?
The ‘true value of advice’ survey ran by IOOF in 2015 revealed people who receive ongoing financial planning advice experience:
- 13 per cent greater levels of overall personal happiness
- 21 per cent overall increase in peace of mind
- 20 per cent increased feelings of security regarding their day to day finances
- 19 per cent less likelihood to have arguments with loved ones
While those that don’t receive financial advice were:
- 22 per cent more likely to have their sleep disrupted due to money concerns
- 15 per cent more likely to feel stress and anxiety.
- 11 per cent more likely to feel concerned about their finances
AN ADVISER PROVIDES THE COMFORT AND PEACE OF MIND OF A WELL THOUGHT OUT PLAN. THEY CAN HELP YOU:
- understand your current investment profile and attitude to risk
- help identify your lifestyle goals and put a plan in place to achieve them
- help you avoid expensive financial mistakes
- set a plan to protect your assets and loved ones
- ensure you’re ready for the retirement you deserve
- assist with planning for the next generation
What’s more, as the survey suggests, advice can extend beyond measurable financial gains to improved relationships and personal happiness. That’s the true value of advice.
To discuss your financial goals with us, get in touch with Paul Harrop, PSK Financial Services General Manager on 02 9324 8831 to organise your complimentary consultation today.
Take the 5 Minute Financial Health today to understand and determine your financial priorities Mums CFO Complimentary Financial Health check (Courtesy of PSK Financial Services)
PSK Financial Services Group Pty Ltd (ABN 24 134 987 205) are Authorised Representatives of Charter Financial Planning Ltd (AFSL 234666), Australian Financial services Licensee and Australian Credit Licensee.
Information contained in this article is general in nature. It does not take into account your objectives, needs or financial situation. You need to consider your financial situation before making any decisions based on this information.