Q. What do we want the most and are willing to pay a premium for today?
A. The best outcome in hindsight.
With both hindsight and 20/20 future clarity the best financial advice is simple; however the real benefit is attained in its application.
1. Have access to savings for emergency situations, preferably three months living expenses
2. Be in an occupation/business that allows you to fund and live your lifestyle aligned to your passion and values.
3. Pay down your debts at a reasonable speed until you're debt free. If you have any debt at all ensure that it is investment debt i.e. tax deductible; still pay it down at a reasonable pace.
4. Protect your cash flow/livelihood and assets. Achieved via insurance, contracts, ownership entities/estate, added value etc...
5. Do not invest for the main benefit being a tax deduction.
6. Buy and sell for a purpose/reason, not a speculation.
7. Invest regular savings using the most tax effective vehicles i.e. superannuation, trusts etc...
8. Reinvest back into your investment. Do this until you require the income from the investment and/or it is enough to meet your cost of living/business operational needs.
9. Invest in that which will provide ROI (Return on Investment) to meet your cost of living without you losing sleep or experiencing excessive volatility that impedes your lifestyle cashflow.
10. Invest the majority of your time in things within your control
a) Exercise and eat right Improves health and self esteem,
b) Self educate improves career opportunities,
c) Make time for others improves personal relationships,
d) Support others who are not as fortunate improves community participation,
e) Spend money on experiences rather than materialistic objects
f) Connect with your soul & nature for enlightened spirit
I encourage you to invest in your future self by contacting us to find out a better way to achieve the things important to you sooner.