At Approved Financial Planners, we have over 40 years of combined experience in providing investment planning in the Perth area. In this era, more people are paying attention to their future. For many people in the Perth area, “saving up for retirement” isn’t good enough anymore. In addition, many are opting to turn their current superannuation funds into self managed superannuation funds.
Understanding Investment Planning
Effective investing makes your money work for you. However, investments carry an inherent risk. Generally, the higher the risk, the higher the reward. When we consult with our clients, we like to make a plan. That plan usually includes your goals, assets, current income, projected income and risk tolerance.
Your Investment Goals
Different investors have different goals. Some just want to pick a retirement date and a level of income that will allow them to live comfortably. Others can be more aggressive, wanting to create cash flow for now and for the future.
The first step is to communicate your goals. These can be short-term goals that you want to attain in the next 6 months to a year, medium-term goals that you want to attain in 2 to 5 years and long-term goals that are more than 5 years in the future.
Your Assets, Income and Expenses
The next step is to get a handle on your current assets, current income and monthly expenses. This allows us to know how much money you can afford to invest.
Your Aversion to Risk
It is important to know your tolerance of risk. Those who don’t mind more risk can invest in products that can make them more money faster, but also involve more risk of loss. At any rate, we usually try to diversify your portfolio to decrease risk while keeping you abreast of market trends.
Call Approved Financial Planners Today
To learn more about investment planning, call our Perth office: 08 6462 0888.
