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Frequently Asked Questions

Do I really need advice about my own financial affairs?

How much money do I need to retire?

The amount of money you will need to retire is dependent on your individual circumstances, your level of debt, and what lifestyle goals you hope to achieve.

One of the best ways to give you an indication of what amount of money is needed to retire is to use a retirement calculator such as the MoneySmart Retirement Planner.

How much life insurance do I need?

What information do I need before I speak with a Financial Adviser?

It’s a good idea to gather as much accurate information about yourself before you sit down with a Financial Adviser.

Good advice depends on a clear picture of your financial situation and your adviser will need to collect detailed information about you to determine your needs and objectives.

Give your adviser the most accurate and up-to-date information you can. If you are not honest with your adviser or leave things out, you could get advice that’s wrong for your situation.

An example of the information you will need for retirement advice:

  • A list of what you own – your home, savings, super, car, shares and other investments
  • A list of what you owe – debts, including mortgages, loans and outstanding credit card balances
  • Your income and expenses/budget
  • What insurance do you have and for how much?

What is Income Protection and why would I need it?

If illness or injury leaves you unable to work for a short or long period, the impact on your finances and plans can be serious. An income protection policy can be put in place to help soften the blow, usually offering up to 70% of your current income to be paid to you in place of your regular income while you recover.

The replacement income is usually paid monthly, taking away some of the typical financial stresses during recovery and helping to protect future financial plans.

We all probably know someone who has experienced an illness or accident that has stopped them from working.

You might think it won’t happen to me, but that’s what insurance is all about. we hope it’s never needed, but if something does happen it provides great peace of mind to know you have a strategy to help deal with it.