Services

Have you ever asked yourself “where does all my money go?”

If you have, then one of our financial planners can assist you to find the answer. And maybe some of that lost income.

Spending is fun, and we often make many small purchases without keeping tabs on how much we are actually spending. These little purchases add up to a large amount and we at McIver Financial can assist you in developing cashflow management strategies to decrease your total spending and increase your savings.

Budgeting can be a powerful tool in managing your spending habits and knowing where your money is going. Once we have established your ins and outs, we can take a big-picture look at your circumstances to see where savings can be made, and assist you to make the changes in spending behaviour that you would like to see.

We all have that daydream of what we would do if we had a little more to spend: take the family on a surprise holiday, buy that shiny new toy, give to charity, add another part to the home, clear the mortgage, it goes on…

Many of us just chalk these up to dreams, assuming that this is all too hard, out-of-reach.

An exciting area of financial advice is developing of a plan to actually get there! There is no magic bullet, and like most things it takes time, but through the application of various short, medium and long term strategies, we can assist you to grow your wealth to get you closer to achieving that dream.

Most Australians have insurance to protect their home, car and other substantial items if something was to happen, however alarmingly few people have insurance to protect themselves and their family and lifestyle in the event of an unexpected loss of income.

If your household breadwinner were injured and could not work, how much paid leave could they take? How many weeks could you support yourself on your savings? What would you do once your savings were gone and the bills keep pilling up?

These are uncomfortable questions to ask, and most people are shocked at their financial vulnerability.

But it won’t happened to me!

We hear this all the time, and unfortunately you just need to turn on the news to see that accidents happen every day, to average people. The odds are that it will happen to you, or someone you know, so it is essential to have financial protection in the event you are one of those unfortunate few.

Your greatest asset?

When asked what your largest or most important asset is, most people reply with their family home, investment property or money in the bank, but the reality is that you are your earning potential greatest asset. For most Australians, their ability to work and provide an income is worth far more than anything else.

For example the average Australian adult is 39 and earns $91,894 (ABS data Nov 2020) per year. If this person is unable to work due to illness, injury or death, their lost income will be equal to $2.573 million. This earning potential needs to be protected, especially if this person is paying a mortgage, supporting a family and is looking forward to a happy retirement.

It’s said that those who go through life with a financial planner or advisor will be better off. You can be the judge of that, however it does make perfect sense. To have an expert Financial Planner in your corner for the duration of your working life, to help navigate the sometimes very confusing financial landscape.  From maximising your superannuation return to helping with insurances financial planning just makes sense.

Many every day Australians have had multiple jobs to have multiple superannuation accounts. It is also common for these people to be paying unnecessary fees. By consolidating your superannuation accounts you might be able to reduce your fees, have access to more features and be invested appropriately based on your age and risk tolerance.