Fire Service Credit Union is proud to offer you Calm Wealth.
We are proud to offer you the services of our financial planning partner Calm Wealth. Calm Wealth has been helping Australians reach their financial goals for over 30 years in Adelaide, providing valuable assistance in planning for the future and managing wealth. A Calm Wealth financial adviser will develop a plan specifically for you – one that’s tailored to your needs and circumstances, to help you achieve your goals.
What is financial planning?
Financial planning is about helping you plan for a future lifestyle that is as good as it can possibly be. No matter your age, the advice of a professional financial planner is crucial in helping you achieve your financial goals by developing a strategy specifically for you.
A financial adviser can help you:
- define your financial and lifestyle goals
- understand your current financial situation and personal circumstances to see what opportunities you have
- build a financial plan with written, measurable outcomes
- stay on track through ongoing progress reviews.
- make the most of your super
- manage your money tax-effectively
- select investments based on your risk profile
- structe your finances wisely, especially following a redundancy or after receiving an inheritance
- plan for your transition to retirement
- ensuring you have appropriate personal insurance cover to protect your family
Calm Wealth Services
Planning for retirement is one of life’s most important financial considerations. The actions you take today will determine your lifestyle in the future.
Prior to retirement, there are some important questions you need to ask yourself, including:
- What do you want to do in retirement?
- Do you need a regular income?
- Where will this income come from?
- When can you retire?
- How and when will you be able to access your super?
Superannuation is one of the most tax-effective long-term retirement savings vehicles, however it can be difficult to keep up with changing rules and regulations. A financial adviser can explain the rules and provide you with strategies to help you maximize your retirement savings.
Superannuation is the most tax-effective way to save for your future.
A financial adviser can help you:
- choose an appropriate super fund with the features you need
- select the appropriate investment mix depending on your risk profile and investment timeframe
- boost your super by making the most of the contributions limits, tax-benefits and government incentives
- transition your super to a pension once you retire.
In today’s economic environment, being made redundant can become an unexpected reality. We all have a lifestyle to maintain, some with dependents, and many with financial commitments such as mortgages, personal loans, and other obligations that require us to generate an income. You will need to make some important decisions about your finances. This includes any redundancy or employee termination payments that you may be entitled to, your expenses, and how you can structure your affairs tax-effectively.
A financial adviser can help you by:
- assessing your financial position and your ability to meet your financial commitments
- identifying any employer payments that you may be entitled to
- understanding how redundancy affects your superannuation
- identifying any Government assistance you may be entitled to
- understanding/assessing your personal insurance
- planning the way forward.
Managing your investments
Investing your money is an effective way to build your wealth. Investing often means taking risk. In fact, investment risk is defined as the chance you will either lose or make money on an investment. As all investments come with varying degrees of risk, it is important to recognise your appetite for risk and build a portfolio that suits your risk tolerance so you can sleep at night.
There are several factors that measure risk tolerance:
- Desire to take risk – Some investors enjoy the inherent uncertainty of investing and are inclined to take on high-risk investments. More common however is an aversion to the stress that a large fall in an investment’s value can produce.
- Financial capacity to take risk – A couple with a new baby and a mortgage will have a considerably different capacity to take risks than a single person just starting out in the workforce.
- Your need to take risk – This is tied to your investment time frame. If you are 30 years old and planning 35 years ahead for retirement, you will probably be happy to accept greater risk, as short-term volatility is smoothed out, to achieve your goals. On the other hand, if you are nearing retirement, you’ll probably not want to risk losing your money as there isn’t the luxury of time to recover from losses.
Risk and return
With greater risk, there is the opportunity for greater returns. Different types of investments, or asset classes, have greater risk and the possibility of higher returns. Each asset class has individual characteristics and carries a different level of risk and return to suit a range of investor types.
There are four main asset classes:
- Fixed interest
While risk is an unavoidable part of investing, there are steps you can take to minimise your exposure to unintended risk through diversification and where possible, making longer-term investments
How a financial adviser can help you:
A financial adviser can help you understand your risk profile and build a portfolio of investments that matches your risk profile and your investment objectives.