Your wealth plan
Step 1 – Understanding You
We take the time to help you work out what’s important to you (Your Values). We then help you link your Values to your Goals so you can make the right choices.
We help you think big because it’s important to set your sights as high as you can.
Step 2 – Setting Your Wealth Foundations
Your Wealth Foundations are the building blocks of your Wealth Plan. We will work through each of these areas with you so that:
1. You can identify your lnvestible Wealth. We do this by determining exactly; :
• What you earn
• What you spend
• What you own
• What you owe
2. You can begin Investing to reach your Goals. We do this by helping you work out how much you need to invest, and what type of investment is the best to use for each of your goals (Cash, Property, Shares etc..).
3. You can Protect your lifestyle and your loved ones. We do this three ways:
i) By determining what the ﬁnancial impact would be to yourself and your loved ones if you were unable to work due to injury or illness, or you suffered from a critical illness or if you were to die. We would then recommend a Lifestyle Protection Plan to protect against the financial impact of any of these events occurring.
ii) We would help you build an Emergency Fund that could be used in case you or your partner lost your job, or for other unforeseen circumstances.
iii) We’ll work with your Legal Partners (or ours) to help you put your “Assisted Living Plan” and your “When I am Gone Plan” in place, so that if anything does go wrong, your wishes are taken care of.
4. You can Manage your Debt better. We do this by handling the relationship with your bank (or one of our providers) to make sure you have the most appropriate loan, uedit and savings account structures. By having the right types of accounts you can potentially make huge reductions in the amount of interest you pay, begin to gain tax deductions and save yourself time and hassle as well.
Step 3 – Building Your Wealth Plan
Once you’ve worked out your Values and your Goals we’ll build your own Wealth Plan which will give you a set of step by step actions, designed to increase the likelihood of you achieving your goals. It will also demonstrate the potential rewards (both ﬁnancial and non-ﬁnancial) for all the hard work and efforts that you will be making along the way.
We will also discuss the actions that need to be taken, by whom and by when in order to be successful.
We appreciate that we may need to liaise with your other Professional Advisers (Accountants / Legal Advisers etc) and will gladly manage the overall process on your behalf.
Step 4 – Making It Happen
We’ll give you a step by step guide to execute the actions from Your Wealth Plan and we’ll get you started by setting up or modifying all of Your Wealth Foundations including:
• Home and investment loans
• Credit cards
• Savings and spending accounts
• Superannuation funds (industry, corporate & personal)
• Life insurance policies
• Legal agreements (referred to a Legal Professional) and
• Your Investments (property, shares, managed funds etc)
For the ﬁrst three months we’ll also track and review your spending to make sure you get on target, and stay on target and your making your wealth work as hard as it can for you.
Step 5 – Keeping You On Track
As you move through different stages in your life, what is important to you now may not be as important in the future. Your goals will change overtime and you need a plan that is flexible enough to change when you do!
Throughout the course of the year we’ll review Your Values and Your Life Goals to make sure they are always a reﬂection of where you are in your life.
For Your Life Goals we’ll let you know how you are tracking, and ensure your Wealth Foundations are still in place and make any necessary changes to set you on your way again.
Successful People seek Growth… others merely Change
Life presents us with choices and many paths to follow. Successful people make a decision to choose their own path, and it is not always the easiest one.
At Experience Wealth we believe having a specialist advice partner that has helped people just like you choose their path by making smart decisions about their wealth oould be just what you need. So contact us to start walking your path today.