Wherever you are in life, no matter if you are starting out, have already accumulated your wealth, or just looking to do things better, we can help.
We take the time to get to know you, your circumstances and what you wish to achieve. Utilising our knowledge and experience we can identify appropriate financial strategies that can improve your financial plan and help you to have a more prosperous future.
Here you will find an asortment of calculators to help with your situation or you can contact us directly via phone or our contact form.
Starting out
Whether you are starting your first job, purchasing your first home, starting a family or would just like to get started on your journey to financial freedom, we are here to help.
Superannuation Health Check
Retirement can seem a long way off but superannuation is an amazing, tax effective savings vehicle and it may end up being one of the largest assets outside of the family home when you retire. In fact, evidence has shown us that those who embrace the superannuation system earlier, achieve a greater benefit through the power of compounding returns.
You may have multiple superannuation funds or just one, it is worthwhile to ensure that your superannuation is appropriate for you as an individual. Everybody’s idea of superannuation and in particular investment through superannuation is different;
Here at Odyssey Financial Advice we can:
- Tailor a superannuation strategy to your needs and select a suitable fund for you.
- Help you to find any lost super funds.
- Consolidate multiple super funds for you.
- Make recommendations about your contribution options including Salary Sacrifice and Personal Contributions.
- Review your personal insurance needs (life Insurance, Income Protection etc.) and the potential of holding these policies within your super fund.
Growing Your Wealth Through Regular Investing
Some people can get very lucky and invest in a small Tech or Mining company and make tonnes of money but for the rest of us this will never happen and more than likely will lose our money, usually quickly.
The fact is that investing for profit is a slow burn, you can increase your wealth by making regular deposits into an investment, this is commonly known as ‘dollar cost averaging’, the concept is that by making regular investments, you are buying when the market is up and when the market is down, thus averaging out your investment purchases. This along with compounding returns creates a long term ‘wealth generator’.
Here at Odyssey Financial Advice we can:
- Work towards a specific investment goal.
- Tailor an investment plan for you.
Starting a Family
Becoming a parent is an amazing and life changing experience. It also has a huge financial impact on your household.
Here at Odyssey Financial Advice we can:
- Help you create a budget to manage your cashflow when your household income changes.
- Review your insurance arrangements and provide recommendations for your growing family.
- Recommend superannuation strategies to help you continue to save for your retirement and maximise the tax benefits of superannuation.
- Identify investment strategies to help you save for long term goals like your childrens’ education.
Please contact Odyssey Financial Advice on Phone 07 5648 0675 to help you get your financial future underway.
Building Solid Foundations
Life is really busy for the majority of us and with retirement potentially a long way away, you want to know that your financial future is secure. You may be interested in investing in shares or property and you may have a goal of providing for your children’s education. We can help you build your financial foundations.
Superannuation Health Check
Retirement can seem a long way off but superannuation is an amazing, tax effective savings vehicle and it may end up being one of the largest assets outside of the family home when you retire. In fact, evidence has shown us that those who embrace the superannuation system earlier, achieve a greater benefit through the power of compounding returns.
You may have multiple superannuation funds or just one, it is worthwhile to ensure that your superannuation is appropriate for you as an individual. Everybody’s idea of superannuation and in particular investment through superannuation is different;
Here at Odyssey Financial Advice we can:
- Tailor a superannuation strategy to your needs and select a suitable fund for you.
- Help you to find any lost super funds.
- Consolidate multiple super funds for you.
- Make recommendations about your contribution options including Salary Sacrifice and Personal Contributions.
- Review your personal insurance needs (life Insurance, Income Protection etc.) and the potential of holding these policies within your super fund.
Building Your Wealth
Once your superannuation is on track and you may have lowered your debts, you may want to look at building your wealth through a regular investment plan or borrowing to invest in property and or shares.
Here at Odyssey Financial Advice we can:
- Identify a solution that meets your budget and objectives.
- Formulate an investment plan.
- Set a budget to manage your cashflow.
- Provide strategies to improve tax efficiencies.
- Identify lending options to fund your investments.
- Review your personal insurances.
Children’s Education
Providing your children with a quality education can be high on your priorities list, careful planning can provide your children with a great start to life with a good education. We can help you to put a tax effective investment plan in place to enable you to fund education costs in the future.
Preparing for Retirement
You are thinking about retirement, it could be a long way off or it could be just around the corner. You may have an ideal retirement in mind or would just like to ensure that you have a comfortable retirement but what does a comfortable retirement mean? It can be different for each individual.
Here at Odyssey Financial Advice we can:
- Help you to identify your retirement goals.
- Review your income and cashflow requirements.
- Identify what assets (house, savings, investments) you have and how much they are worth.
- Assess how much super you have and when you can access it.
- Forecast your estimated super balance at retirement.
- Find ways to grow your retirement income.
- Put plans in place to make your money last in retirement.
- Determine when you can apply for the age pension and
whether you are likely to be eligible. - Review your estate planning.
What is classed as a ‘Comfortable’ Retirement?
Most of us daydream about the day we finally finish work and retire. Whether you dream of cruising around the world, campervanning around Australia, or just pottering about in the garden and improving your golf skills, the magic question is: how much do you need to make your retirement dreams a reality?
According to the Association of Superannuation Funds of Australia’s Retirement Standard, to have a ‘comfortable’ retirement, single people will need $545,000 in retirement savings, and couples will need $640,000. In annual income terms this translates to $61,786 for couples & $43,787 for singles. The Standard is updated four times a year to take into consideration the rising price of items like food and utility bills, as well as changing lifestyle expectations and spending habits. The Standard includes the cost of things such as health, communication, clothing, travel and household goods.
Transition to Retirement (TTR)
A transition to retirement (TTR) is a way to access your superannuation whilst you are still working. A traditional TTR was originally introduced to keep people in the workforce longer, the worker could reduce their working hours and top up their income using their superannuation balance. There are a variety of different ways that TTR strategies can be implemented, not only to help you transition into retirement, but also to create tax efficiencies and debt reduction strategies.
Read more about our Retirement Planning service
Making the most of your retirement
After decades in the workforce, you finally get complete control of how you spend your time, you have earned your retirement and now you want to know that you have the finances to provide for your retirement dreams and to ensure that these funds will last and even to provide a legacy for your loved ones into the future.
At Odyssey Financial Advice we can:
- Identify how long your money will last by looking at your income and assets and how they are structured.
- Identify if your finances are structured to maximise government benefits.
- Look at how your financial position is structured with a view of improving tax efficiencies.
- Recommend superannuation income stream strategies including annuities and pensions.
- Provide estate planning recommendations so your money goes to the right people at the right time.
“As in all successful ventures, the foundation of a good retirement is planning.”
– Earl Nightingale –
Read about our Investment Planning service
I Have Complex Finances
Busy professionals, those with complicated business structures and family networks can find it difficult to allocate the time and resources required to manage their financial affairs. Inevitably you will need to engage with the services of a variety of professionals to get the very best outcome for your circumstances. Whilst engaging professionals to assist you will strengthen the direction you take, the management of these service professionals can become convoluted and time consuming.
A Chief Financial Officer who understands you, and has a solid understanding of his counterpart’s professions can assist to;
- Relieve time constraints on you.
- Provide you with a central point of contact to manage your financial position.
- Create a line of communication amongst your financial professionals that is clear, and aligned to your purpose.
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