Creating wealth in today’s financial environment can be a challenge.  Here are our Top 6 Tips for Financial Success from our Sydney Financial Planners:

1.  Understand basic financial concepts

It’s hard to have a chance at real financial success unless you’ve mastered some basic financial concepts.  Need to learn the basics of investing?  Our free Basics of Investing Ebook is a great place to start.


2.  Take your superannuation seriously

Many people in Australia are complacent when it comes to their super.  But remember, it equates to 9% of all your earnings!  That’s a lot of work hours!   For financial success, you should take your superannuation seriously.  With a little financial know-how and advice from a professional financial planner, you can learn to use the untapped wealth potential that your superannuation offers.


3.  Don’t be afraid of market fluctuations

Many people get swept up in media hype when there are periods of volatility and fluctuations in the financial markets.  Without some financial know-how, it can be easy to believe that the world is about to end!  Indeed, some people are so afraid of normal market volatility that they avoid investing in the share market.  Over the long-term, the share market can offer one of the most powerful tools for creating wealth for the future, if you’ve got the financial savvy and time to hang in there and weather any volatility storms.


4.  Develop a financial plan

Trying to achieve financial goals without a financial plan is like trying to find a street in a foreign city without a map.  The chances that you’ll find your way are very slim!  A financial plan is a bit like a roadmap which can help you to navigate your finances through the short, medium and long-term.  A financial planner can help you map our your wealth future with a financial plan, and also be your trusted guide along the way.


5.  Protect your most valuable asset – YOU!

You, and your ability to earn an income are the most valuable assets you and your family have.  You should ensure that you have enough life insurance and income protection to look after you and your family should the worst happen, or if you should be unable to work due to illness or injury.  Don’t leave your family vulnerable, make sure you’re protected with life insurance!


6.  See a Financial Spectrum financial adviser

Unlike most other financial advisers, Financial Spectrum financial advisers in Sydney are fee for service and don’t charge commissions.  We are also proud to be one of the few privately owned financial planning firms left in Australia.  When you visit us to formulate a financial plan, you can be confident that we’re acting in your best interests as we are not owned by any financial institution and are not incentivised to place you in a commission-producing investment.  You pay us directly for our time and expertise so you know we’re working for you alone and not for a commission.


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