We use the Game of Money® to help describe the different stages of a person’s financial life. The Game of Money® was created as a communication tool to help simplify the financial journey using the four bases of a baseball diamond for a reflection of the various stages within the financial journey.
Most people start off with no direction, no plan and no strategy. Our aim is to get them to take action and move to first base, set the PERFECT Foundations.
Moving to second base is a wealth creation plan we call Pathway to Wealth®, this program is for people who are looking to accelerate their wealth through various strategies such as investments, superannuation, maximise cashflow, tax planning etc.
After successfully completing the Pathway to Wealth® program we move onto 3rd base, Countdown to Retirement. We examine all wealth creation and preservation strategies. Review and refocus all your goals and ensure its on target.
Homebase is for those that are ready to Retire in Style. Understanding your goals, ensure your estate plans are clear, review how long your money will last, maximise income streams and possibly use the CARE Investment philosophy to reduce risk in retirement.
Where are you in the Game of Money?
At First base we help our clients build PERFECT Foundations. People who are on first base are typically saving for house, protecting their incomes and making sure their superannuation is in the best position possible for long term growth. Often people at first base are starting up or starting over.
The word PERFECT is an acronym we use to build PERFECT foundations. Each letter stands for the following:
P stands for Protect your family with life insurance, total and permanent disability insurance, income protection insurance, trauma insurance, Business insurance, Professional Indemnity Insurance, Buy Sell insurance, Motor vehicle insurance and home and contents insurance. We help get the cover in place to protect the most important things in life, you and the people you care about. Which gives you the peace of mind so you can focus on enjoying life.
E stands for Estate Plans in order. Quite simply estate planning is all about getting the right people and money in the right hands at the right time according to your wishes. For example, do you have a legal will that reflects your current intentions and has guardians appointed for your children? Do you have an enduring power of attorney to cater for unforeseen circumstances.
R stands for really smart super. Is your super the best it can be? Did you know that the potential difference between a super balance invested moderately versus a super balance invested in high gross assets over a 30 year period can be in excess of 1 million dollars? Its worthwhile taking the time to understand what this could mean for you.
F stands for Foundation support service and team. Apart from implementing smart and strategic advice that benefits you financially, the most important service we provide is our relationship and ongoing service, which means a trusted reliable professional you can call when you need to.
E stands for Effective Debt Management. Are you getting the best interest rates possible on your home loan, investment loans and business loans? Are you looking to consolidate, restructure or reduce bad debt? We can help you look at the best options to suit your needs.
C stands for Cash Flow Under Control. Quite simply having the cashflow available you need to be able to invest and build a financial future, means you need to spend less than you earn. We can help you structure your cashflow in a systematic way to invest that is an automatic process.
T stands for Tax Under Control. This is a great opportunity for a round table discussion, together with your tax accountant to see how we can best structure your tax situation and strategically maximise your tax position overall.
At second base in the Game of Money the Pathway to Wealth program involves some of the following wealth creation strategies
We look at ways to be smart with your cashflow and maximise opportunities where available. A combination of strategies in the Pathway to Wealth program helps you to be smart around tax planning, and we look to maximise those opportunities available to you.
We ask you an unusual question which is - If you were retired right now how much income after tax would you need coming in each year to pay for your lifestyle? We ask you this question to get you thinking about your financial future and about the investment assets you need working for you instead of you working to bring in an income.
We look at debt reduction strategies and focus on helping you pay off your home loan as soon as possible. We understand that home ownership is a key goal for many Australian families and we can certainly help you achieve that goal.
We look to accelerate the growth of your super, therefore, creating a nest egg in a low tax environment.
We may consider an investment property if appropriate as a part of your overall strategy. This provides long term asset growth and potentially some tax benefits.
We may consider building a professionally managed shared portfolio outside of superannuation, if appropriate as a part of your overall strategy.