To get the most from your money 每 whether you hold it personally or it*s in your super fund ready for your retirement 每 it*s important to invest it where it can work hard for you. Ultimately, you want it to grow over time and at least keep ahead of inflation. The best way to maximise the opportunities is to create a financial plan.
Your income, savings, stage in life and short, medium and long-term goals will all play a part in where and how you invest your money 每 from keeping it in the bank to investing in assets such as shares. Even your superannuation account is a form of investment, and a very important one too.
All investment involves a certain level of risk, and you can read more about risk management here.
Before planning to invest, it*s important to work out your current and desired financial situation, taking into account expected income and expenses over the next few years, any plans you may have that will change your current situation, such as growing your family or buying a new home, and any &rainy day* contingencies. A basic financial &check-up* will involve calculating:
Once you know your financial situation, you*ll be able to start drawing up an investment strategy. The first thing most advisors will suggest is paying off any expensive personal debt such as credit cards. You might also be able to consolidate other personal debt into your home loan, allowing you to benefit from lower interest rates and fewer fees.
Your superannuation is a unique type of investment as it is like a broad investment portfolio all of its own. It will usually include different types of investment assets such as cash and bonds for stability, shares for growth, and property for balance. How to invest in stocksFunds generally allow, and in fact encourage members to tailor their super investments to suit their own particular objectives and risk profile.
To design your super investments to fit your circumstances and outlook, contact your super fund or visit their website and head to their &investment* pages.
Call: 1300 789 932
Call: 1300 348 546
Call: 1300 734 479
Call: 1300 361 784
Call: 1800 005 166
Call: 1300 664 781
Call: 1800 222 071
Call: 1300 360 988
Your question will be sent directly to the fund you select
Your question will be sent directly to the fund you select
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