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Blog

March 2nd, 2012
Building Wealth Outside of Super

Superannuation is a great tax effective vehicle for building retirement savings however; clients often pose the question; “what are my other options?”

Superannuation is intended as a forced retirement savings fund to help supplement your living expenses when you are no longer working.  If you are employed, you are more than likely getting 9% of your wages contributed into Super by your employer every year.  (You have the option of boosting this amount through salary sacrifice.)

It is not however the only option to build your retirement savings. Other options amongst many include; saving to a bank account, shares, managed funds and investment properties. These investments (or combination of investments) can also be drawn upon in your retirement. 

Many clients have a preference for certain types of these investments based on their own knowledge and what they have been exposed to in the past. It is my job as a Financial Planner to educate and explore the various options with a client to uncover their attitude to different investments as well as their tolerance for risk. For example a builder may prefer an investment property where they can see and touch the bricks and mortar over shares in a company that they know little about and vice versa for a stock broker.

There is no one size fits all answer as everyone is different and often it is a combination of investments that allows diversification, or as the proverbial saying goes “not having all your eggs are in one basket.”

If you would like to investigate your breakdown of investments to see whether you are diversified or even to look at the viability of other forms of investments or even a questions like: “do I put more money towards my mortgage or start salary sacrificing?” then that is an ideal time to sit down with a Financial Planner and set a plan in place.

Please note: This blog post 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

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I would like to thank you and PFG staff for a wonderful surprise card and gift card from you for my birthday, it’s just a lovely warm gesture much appreciated!! Thank you all from the bottom of my heart.

Teresa Boscaglia

Accredited by AMP Financial Planning
PFG Financial Services Pty Ltd ABN 23 052 977 189 and PFG Global Pty Ltd ABN 50 679 416 839 trading as PFG Financial Services (Global) are Corporate Authorised Representatives and Credit Representatives of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706. For further details including financial services we can offer you and how we are renumerated, please read the Financial Services & Credit Guide V 4.1 & FPFG Global Pty Ltd Financial Services & Credit Guide V 4.0 General Advice Warning: This website 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.