Did you know that someone who starts saving with the help of a qualified financial planner at age 30 could be more than $91,000 better off at retirement? This astounding figure comes from recent analysis by KPMG* that shows the significant benefits of good financial advice. And it’s not just those starting early who can improve their finances – even those who receive financial advice later in life can benefit, with an average Australian aged 60 gaining a potential $29,000 more by age 65.
As someone who may have experienced the benefits of financial planning with us, you may know that financial security is much more than simply savings. It’s about taking charge of your financial situation and ensuring you are in control of your financial future, no matter what life throws at you. Even when you face additional financial commitments – like falling pregnant, taking on a mortgage, paying a child’s school fees, or meeting unexpected medical expenses – working with a qualified financial planner will help you to navigate the challenges with confidence and peace of mind.
And when you have a sound financial plan in place, you know what’s required to achieve your specific financial goals – whether it’s buying your dream home, taking that trip of a lifetime or retiring in style. Once your financial plan is in place, the trick is to keep in touch with us on a regular basis to ensure your plan remains up-to-date and relevant to your particular circumstances. After all, life is full of changes, and your financial strategies need to adapt to reflect your evolving life stages.
Increased savings benefit all Australians
Increased savings don’t just benefit you and your family; they also contribute to the Australian economy as a whole, with higher national savings leading to less dependence on foreign finance. In their in-depth analysis, KPMG estimates that just a 5% increase in the number of Australians receiving financial advice would equate to $4.2 billion extra in national savings over 7 years. That’s an astonishing figure that would significantly benefit all Australians.
Yet despite the benefits, only 20% of Australians currently seek out advice from a qualified financial planner. Instead, the majority ask a family or friend who – although may have their best interests at heart – are less than qualified to give sound financial advice.
As a client of ours, you’re fortunate enough to have instant access to highly-qualified financial advice. And if you’ve enjoyed the benefits that come with our services, why not encourage your family and friends to benefit as well?
The Financial Planning Association of Australia celebrates its 11th Financial Planning Week from 23–29 May 2011, and this can be a great time to talk about the benefits of financial advice.
So, if you know someone that could do with additional savings – potentially worth tens of thousands of dollars – we’d greatly appreciate your referral.
Want more information?
For more information on how you can make the most of our financial planning services, please call us today.
What you need to know
Information current as at May 2011. This article contains general information only. It does not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances. Further details are available from your planner or AMP Financial Planning Pty Limited, telephone 1300 157 173.
* 18 January 2011, KPMG “Value Proposition of Financial Advisory Networks – Update and Extension”.