Simple Certainty | Get Certain About Your Future with Financial Projections
Why do people go to financial planners? Superannuation advice? Investment strategy? Wealth management? The answer, of course, is for all of these things. But these things are really just a means to an end – which is peace of mind.
In terms of what keeps people up at night, financial worries are right up there. Costly holidays, new cars, retirement, the spiralling price of private education; there’s plenty to occupy our thoughts when the lights go out.
Reassurance about the path we’re on is what we need to get the certainty we crave, and to get that we need to peer into the future. With the right financial projection software, that’s exactly what you can do.
Our bespoke financial projections software
As financial planners, I strongly believe that our number one goal is to provide certainty and peace of mind for our clients. The most effective way of doing this is by giving them a clear picture of their future.
Here’s how we do it.
We take some key information from our clients, such as goals and objectives, current assets, current income and retirement plans, and enter it into our projections software. The results tell us a great many things about their future – and their possible futures.
We can, for instance, see straight away how realistic your goals are.
Can you actually retire at 60 and have the lifestyle you want?
Can you give money to the kids now? How much?
What about annual holidays? A new car every 10 years?
In other words, if you stay on your current path, what will the future look like in 20, 30 or 40 years’ time? That’s what our financial projections software can show you, and it provides a great deal of certainty.
What is your future telling us?
Projections like these give us enormous scope for proactive financial management. If it looks like you’re well ahead of the game, it’s time to think about what we can bring forward. Can you retire earlier? Can you give more money to the kids? Should you pay off debt now or put it all into super?
On the other hand, perhaps the projections aren’t as rosy as you would like. While that may not be what you want to hear, it’s better you get the news today when you have time to correct. For instance, your projections might suggestion that retirement at 60 is a challenge. A better path might be to reduce hours and continue working until 65.
The point is, seeing what your future looks like on your current path gives us an opportunity to adjust and strategize today – and nothing provides greater certainty than that.
These initial projections also give us a baseline which we return to every year. And changes to your life are factored in and new projections created.
Remove the fear and paranoia
Whenever the market takes a hit, many of our clients are on the phone to us straight away. ‘What does this mean?’, they ask. With our financial projections software, we can show them. And they’re all surprised to learn that the drop in the market today (which looked like the end of the world) amounts to barely a hiccough in their life journey.
If anything, it’s an opportunity: how can we use these depressed prices to further build your wealth?
Again, this is all about providing certainty.
This technology allows us to remove the fear, the paranoia and the knee-jerk reactions. We narrow the focus to your life, your goals and your unique situation. We believe this modelling is as important to our clients as the financial returns we bring – if not more important. Nothing brings greater peace of mind.
Go on holidays, upgrade the car, help out the kids – and know precisely what impact this has on your future. Live your life with certainty.
Next time on Simple Certainty
So concludes our series on the components of a financial plan. I hope you found it enlightening and reassuring.
In the next episode, we begin our three-part series on markets, the paranoia surrounding them, and why it pays to hold fast. We’ll cover a lot of important information and dispel some common fears, so I hope you can join us.
That’s it for this edition of Simple Certainty. Make sure to call us on (03) 9835 3800 to book your personal appointment.
Disclaimer
Please note this is general information only and you should always seek your own personal
advice.