Putting yourself in a position to get ahead financially can seem daunting when you’re first starting out. But if you have a professional guiding you along the way, small steps can lead to great success. Our Financial Planning partner Lonsdale have put together some points to keep in mind.

1. Seek advice

It’s hard to achieve great success without a team of experts supporting you. Getting professional financial advice means your advisor can implement a strategy aligned closely to your financial goals. Whether you’re looking at retirement planning, tax-effective super strategies, investments or estate planning, our highly experienced team can help.

2. Understand the role risk plays

One of the first things we do when working with you is establish your risk profile to help drive our recommendations for your unique financial plan. Whether your preference is for high or low risk, it’s important to remember that markets are cyclical. Shares are a long-term investment, so if the market wobbles we will actively manage your investments and make sure they remain aligned to your overall financial strategy.

3. Check your super

Your superannuation is often your largest asset other than your home, and it’s important that it aligns with your risk profile and long term financial goals. Additional super contributions via salary sacrificing can be used as a strategy to reduce the amount of tax you pay, which is something we may discuss with you during your initial meeting or your review meetings.

4. Stick to a budget

Setting a realistic budget can be empowering as it can help you understand where your money is going, what can be trimmed and where you can invest to save for your future. Having a budget doesn’t mean giving up things you want, it just means you plan for them and you make sure you can afford them before you spend the money. Setting and sticking to a budget is really the simplest way to help you get ahead, and this is something we can work on with you.