We all like the notion of creating more wealth… but what is the best way to go about it?
Client Scenario
Financial planning strategy to create a savings plan
A common challenge many people have is ensuring they have enough wealth to look after their kids. It may be their education, private school fees, helping them out with their first home. or just having enough money until they leave the nest!
Our Solution
Budget planning is one example where the correct strategy can help you achieve particular goals.
Here’s an example of how the power of regular investing and compounding investment returns can be beneficial over the longer term.
Emma and Tony want to save for their daughter Chloe’s (aged 3) university education when she reaches 18 years old.
They have an investment horizon of 15 years and if they start investing their surplus cash of $1,000 per annum, the final balance could be as high as $29,324 under certain circumstances*. However, if they delayed investing their surplus cash for five years, the final balance could be as low as $17,977 under certain circumstances*.
With a structured investment and savings strategy put in place, Strategies For Life helped Emma and Tony find the right direction to follow to reach their dream of sending their daughter Chloe to university.
Strategies For Life can help design the most suitable strategy that suits your circumstances to ensure your goals are reached within the timeframe that you need.
This Budget Planner is a good resource to determine where your money is being spent and to set up your budget plan.
* The figures are based on assumptions and are general illustrations only. They are intended to illustrate the broad impact of certain choices made and are not a prediction of a user’s final benefit or position. They are not intended to be a substitute for professional financial advice. The projection result is not guaranteed in any way. The actual performance of investments will depend on future economic conditions, investment management and future taxation.