Aged Care Advice

Considering Aged Care for yourself or a loved one is extremely difficult. It may seem too early to think about a future you can’t imagine, but planning ahead will give you great peace of mind.

If you or a loved one has reached the stage where some form of aged care is needed, then you’ll have many things to consider. Sometimes family and friends will be able to help with things like shopping, cooking or transport, but there are several professional aged care packages available.

John, our Practice Principal, has a keen interest and truly enjoys assisting clients with any transition into additional care. We will:

• Understand the financial implications of various aged care solutions
• Assess your aged care options taking into account your assets and liabilities, Centrelink, tax and estate planning considerations
• Manage your retirement strategy and provide you with a long-term income plan

By thinking ahead early, you can consider alternative options and put a plan in place that reduces the emotional stress for you and your family. We will help you reach the right outcome so you can live the best life you can – whether it’s in your own home or a care facility. We will specifically develop a plan for you which considers the impact of aged care on your loved ones financial affairs. We also have positive relationships making any transition as smooth as possible.

When considering Aged Care your first consultation with us is complementary. After determining your needs and objectives with you, we will be able to provide you with a highly competitive and fixed fee quote for our personalised Aged Care advice.

Contact us today to discuss how we can work together: (02) 8294 4277 or email us at financialplanning@mpmgroup.co

Retirement Planning

Planning for your retirement

More and more people are realising that it is essential to plan well for their retirement.

It’s not just thinking about what to do with your money when you retire but how to maximise what you will have when you begin your retirement. To achieve this goal requires quality advice in the years leading up to retirement, the more the better. Time is needed if various strategies are to be implemented to make the most of your earnings in the pre-retirement period. The longer you plan for retirement and employ professional assistance then the greater the chances that your goal of a happy and prosperous retirement can become a reality.

Giving yourself enough time to plan your retirement is imperative but doing it right is even more so. There are many complex considerations to be managed and it is our job to ensure that your retirement goals and objectives can be met.

A wealthier retirement

Our approach to retirement planning is precise, methodical and generally involves:

• A thorough and detailed review of your current financial resources and commitments
• Gaining a detailed understanding of your future lifestyle and financial goals and objectives as well as any foreseeable events that may affect your future plans
• Financial modelling to forecast potential investment outcomes and income streams from various investment strategies
• Assessment and enhancement of Aged Pension and Centrelink entitlements
• A review and assessment of these findings to determine an effective way forward
• Consolidating our recommendations into a single strategy document for your review and consideration.

Contact us today to discuss how we can work together: (02) 8294 4277 or email us at financialplanning@mpmgroup.co

Personal Insurance

What is insurance?

Insurance is a form of protection – a way to protect yourself, your family and the things you own if something goes wrong. It enables you to replace or repair your assets, whether those assets are your belongings or your capacity to earn income.

Everybody’s circumstances are different, but insurance is important for everybody. Your need for insurance will change as you move through the different stages of your life.

There are many different types of insurance, and we can help you find the right level of protection for your needs.

What types of insurances are there?

There are many types of insurance. Car or home/contents insurance allows you to insure your belongings. Personal insurance policies enable you to insure yourself and your ongoing wellbeing.

Personal insurance provides protection against sickness, injury and death, and includes:

• Life insurance
• Total and Permanent Disability (TPD) insurance
• Trauma insurance
• Income protection.

While insurance doesn’t remove the risk of something going wrong, it provides you and your family with protection and financial security if something does happen.

The amount of insurance you need is affected by:

• How much you earn
• Your cost of living
• Your assets
• Your liabilities
• Your relationship status (whether you are married, in a de facto relationship or single)
• How many dependents you have.

Contact us today to discuss how we can work together: (02) 8294 4277 or email us at financialplanning@mpmgroup.co

Financial Planning

Financial advice is determining how an investor is going to meet their goals and objectives. It is about helping clients define their goals, gathering information and analysing data to make a plan, then implementing the plan and monitoring the results. It is also monitoring and updating goals and objectives as clients move through different phases of life.

'Failing to plan is planning to fail.' It's a cliché but when it comes to investing money, setting and then attaining long term financial objectives, then it makes a lot of sense to have a plan. Also, history shows time and again that the sooner you can start the better the outcomes.

Attaining long term objectives is better served by setting some short term goals. For example, such milestones might be set for 1-3 years, then 4-6 years and then 7+ years.

However, just having a plan isn’t enough. It needs to be regularly revisited and amended accordingly. Like the initial drafting of a plan the ongoing review process can be complex, increasingly so due to an increasing number of rule and regulation changes. We can help you manage this complexity and provide you with regular reviews.

Our primary aim is to help you attain your financial objectives.

Contact us today to discuss how we can work together: (02) 8294 4277 or email us at financialplanning@mpmgroup.co

Wealth Creation

The most important step to financial freedom is to have a Financial Plan! Many people leave this until it’s too late in life. Not having a plan equals less choice in your later years, causing much stress and anxiety in your family relationships that could be well avoided if only you had a good financial plan in place.

How to start:

STEP 1: Clear all your non-mortgage debts

Put a budget in place and live within your means ...

Check out the budget planner on www.moneysmart.gov.au

STEP 2: Build up your savings

Once your non-mortgage debt is under control, start a disciplined saving habit, here's how:

• Invest regularly in a high-interest savings account
  Set up a regular direct debit or BPAY into a high-interest savings account. You’ll hardly miss the money and watch it grow.
• Salary sacrifice to super
  For your long-term retirement savings, begin to salary sacrifice to your super; super is a very tax-effective means for savings.

STEP 3: Speak to a Qualified Financial Planner

Markets are global and changing all the time. It is difficult for an unqualified person to understand the benefits of tax-effective savings and super contributions, never mind how to invest in managed or listed funds. This is where a qualified Financial Planner will help you personalise a plan that will see you transition from now into your retirement.

Contact us today to discuss how we can work together: (02) 8294 4277 or email us at financialplanning@mpmgroup.co

Investment Strategies

Investing your hard-earned savings can be complex to manage and benefit from. There are many issues such as levels of risk, market timing, asset classes, and your own goals, objectives and preferences that need to be considered. Even getting started is difficult but this is where we have the time and expertise to help you.

Even after initial investments are made there are important issues that need to be addressed such as monitoring, buy/sell decisions, tax considerations, and when to take a loss or profit. In addition, there is a huge amount of investment information and spruiking that can easily lead you in the wrong direction with unwanted consequences.

Market volatility simply makes the situation harder and can often lead investors into emotive and rushed decisions.

Having a proper investment plan is very important and the sooner you implement it the sooner you can grow your wealth. We can help you develop a financial plan and provide advice that will help overcome the issues raised above.

Portfolio Construction is all about investing in a range of funds that work together to create an investment solution for investors. Building a portfolio involves understanding the way various types of investments work and combining them to address your personal investment objectives and factors such as attitude to risk the investment and the expected life of the investment.

Portfolio management is the art and science of selecting and overseeing a group of investments that meet the long-term financial objectives and risk tolerance of a client, a company, or an institution. Portfolio management requires the ability to weigh strengths and weaknesses, opportunities and threats across the full spectrum of investments. The choices involve trade-offs, from debt versus equity to domestic versus international and growth versus safety.

Portfolio management may be either passive or active in nature.

• Passive management is a set-it-and-forget-it long-term strategy. It may involve investing in one or more exchange-traded (ETF) index funds. This is commonly referred to as indexing or index investing. Those who build Indexed portfolios may use modern portfolio theory (MPT) to help optimize the mix.
• Active management involves attempting to beat the performance of an index by actively buying and selling individual stocks and other assets. Closed-end funds are generally actively managed. Active managers may use any of a wide range of quantitative or qualitative models to aid in their evaluations of potential investments.

Contact us today to discuss how we can work together: (02) 8294 4277 or email us at financialplanning@mpmgroup.co

Superannuation & Rollovers

Superannuation is principally a tax-effective mechanism of saving for your retirement. For many of us, it may be the largest asset we own, apart from our homes.

With numerous contribution options, Superannuation can become a complex and overwhelming area. At MPM Wealth Management, we endeavour to create an optimal strategy to make the most of the tax concessions, financial incentives and rebates available to help you build a nest egg which achieves your desired lifestyle in retirement.

We can assist you with comprehensive and tailored advice on:

• Employer Super Guarantee Contributions
• Concessional Contributions
• Salary Sacrificing
• Spouse Contributions
• Co contributions
• Consolidating Super
• Self-employed Deductible Contributions
• Self-employed or Not Working After Tax (non-deductible) Contributions
• Beware of the caps

Be it consolidating your superannuation accounts, boosting your contributions, understanding the superannuation contributions limits for the financial year or developing a plan to prepare you for your eventual retirement, our financial planners can help you.

Contact us today to discuss how we can work together: (02) 8294 4277 or email us at financialplanning@mpmgroup.co

Estate Planning

Wills and Estate Planning are the cornerstones of your financial plan. We have invested heavily in education to develop a thorough and specialist knowledge of Wills, Estate Planning and the structures as they apply to your overarching financial plan.

Our experience is substantial and includes finding solutions for complex and, at times, unique family circumstances.

Our Estate Planning service includes liaison with your accountant, insurance advisers and estate planning lawyer to create consistency across all disciplines to deliver a seamless and properly integrated plan as part of your larger and overarching financial plan.

We work with you to help you gain a complete and clear understanding of the structures you should consider for the event of your death or incapacity. We help you to clarify the goals and objectives for your Estate Plan and explain how important legal documents including Wills, Power of Attorney and Binding Nominations help you achieve these goals.

The service offered by Rolanda Adams Financial Services is underpinned by our extensive financial planning experience and a thorough understanding of your personal affairs which allows us to provide guidance and advice when identifying the key beneficiaries for your Estate including, but not limited to providing the following:

• Appropriate investment and superannuation strategies
• Personal risk assessment
• Asset protection
• Retirement planning

Contact us today to discuss how we can work together: (02) 8294 4277 or email us at financialplanning@mpmgroup.co

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