Newsletters - Success Accounting Group

Get Free business tip, advice and exclusive offers by signing up to ‘Success Accounting Group Newsletter’ quarterly newsletter.

Success Accounting Group Newsletters

financial planner melbourne


What is your New Year resolution? it’s common to look back and reflect on the year that was. While everyone is busy looking back and celebrating the highs and (hopefully) learning lessons from the lows we’re all about looking forward.

That’s how you get ahead – when everyone is looking back you need to look forward, so we think that NOW is the best time to make a wealth strategy for 2015.

Forget New Year Resolutions

Resolutions inherently feel like they’re going to be broken – what we need is a plan. So why wait until January 1’s hangover to get the ball rolling? No matter what your situation is we have some advice to get you started

The Plan – If you’re under 40

Time is on your side friend, but the BIGGEST problem with youth is the inability to identify with your ‘future self’. This means you spend up BIG now and leave the bare minimum for later. Do not fall into this trap.

Compound interest is a young person’s best friend. You can turn modest savings into mega wealth just by being consistent. Maybe consider salary sacrificing some extra money into your super, even $20-$50 a week can make a HUGE difference down the track, and check your investments to ensure you’re happy with the risk levels of your investments.

Make sure your insurance is all in order. Do you have the correct levels of cover? Are you insured twice for the same thing? Figuring this out can be done in conjunction with a superannuation audit. Tidy up your super – many young people have several super accounts and are paying fees and sometimes insurance out of all of them. Don’t forget that this is your hard-earned money you’re burning.

The Plan – 40-60 years

The BUILD years. Let’s start to look at your debt levels. Set up a wealth strategy to be out of bad debt as soon as possible to secure your future.

It is critical to have your insurance in order and your super fund building nicely. Consider additional contributions, but make sure you don’t exceed the maximum allowed annually. Consider how to maximize your earning potential inside and outside of work, this may involve doing some additional training to up-skill or looking to maximise your investments.

Keep an eye on your super. Your risk/growth profile will need to be constantly monitored – is it time to look at an SMSF? How much money will you need to retire? Are you on track? Maybe it’s time for a Freedom Plan.

The Plan – Getting ready to retire and beyond

Let’s take a good look at your situation, how long will your money last? How is your super performing? Remember, your super keeps working long after you stop. Make sure your happy with the returns you’re getting and are likely to get in the years to come. Where is your estate planning up to? Are your assets protected?

Most importantly – make sure you have money to ENJOY your life, you’ve worked hard for it – you deserve it.

The Plan – Everybody

While everyone else is reflecting – take some time out to analyse your financial situation by following these steps:

1. Figure out your net worth, Include all of your assets including cash and super then subtract your liabilities. Write down your NET worth.

2. Write down your goal net worth – how much will you be worth this time next year? What percentage growth is that? 3. Analyse your super, do you know where all your super is? Do you need to roll them into one account? Are you happy with the risk/growth profile?

4. Figure out how much money you want to retire with – are you on track?

5. Make an appointment with one of our expert advisors for your own personal Freedom Plan.

You don’t have to go it alone, the difference between having all the money you need in retirement and a nervous hope that the money doesn’t run out can be a few decisions – we can help.


Success Accounting Group 

Important 2014 Year End Reminder and Obligations


On the Money 

On the Money – March 2013

On the Money – June 2013

On the Money – September 2013

On the Money – March 2014

Arrange your FREE No-Obligation Meeting

Arrange your FREE No-Obligation Meeting

Either call us on (03) 9583 0550 or complete the form below

Success and Wealth

Latest from our blog

Xero Banner

Success Accounting Group Pty Ltd

Oakleigh, VIC, 3166

5.0 stars


    Disclaimer: The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Therefore, before you decide to buy any product or keep or cancel a similar product that you already hold, it is important that you read and consider the relevant Product Disclosure Statement (PDS) of the product provider to make sure that the product is appropriate for you. Before making any decision, it is important for you to consider these matters and to seek appropriate legal, tax, and other professional advice. You can get a copy of relevant PDSs from Success Accounting Group by email or by Phone (03) 03 9583 0550. All statements made on this website are made in good faith and we believe they are accurate and reliable. Success Accounting Group does not give any warranty as to the accuracy, reliability or completeness of information that is contained in this website, except in so far as any liability under statute cannot be excluded. Success Accounting Group, its directors, employees and their representatives do not accept any liability for any error or omission on this website or for any resulting loss or damage suffered by the recipient or any other person. Unless otherwise specified, copyright of information provided on this website is owned by Success Accounting Group. You may not alter or modify this information in any way, including the removal of this copyright notice.