An investment strategy is a documented plan that outlines how your SMSF will achieve its investment objectives while considering the fund's circumstances and the needs of its members. This strategy should guide your investment decisions and help ensure the fund is on track to meet its retirement goals.

A Self-Managed Super Fund (SMSF) offers an unparalleled level of control and flexibility for managing retirement savings. It is a type of superannuation fund in Australia that provides individuals with the ability to manage their own superannuation investments. Unlike retail or industry super funds, SMSFs offer complete control over investment decisions. This level of autonomy allows members to tailor their investment strategies to suit their personal financial goals and risk tolerance.

Managing an SMSF involves several responsibilities and regulatory requirements. Also, SMSFs offer a high degree of control and flexibility and come with significant responsibilities and risks.

While pure life insurance is straightforward, the other personal insurances may differ significantly from policy to policy. Definitions of diseases may vary. There may be a range of optional extras – some valuable, others more of a gimmick. With TPD insurance, you may have the choice of ‘own occupation’ or ‘any occupation’. Insurance companies vary in the speed with which they process claims, and beyond that is the question of which insurances should be held via a superannuation fund and which should be held directly.

It’s important to understand what is and isn’t covered by your insurance. This will be detailed in the Product Disclosure Statement, so it’s important to read and understand this. If you are unsure about anything, ask your adviser for an explanation.

For life and TPD cover, one rule of thumb is to work out how much is needed to pay off debts and provide for current and future family living expenses. Subtract from this total the value of current investments, including superannuation, to arrive at an approximate value of the insurance cover you require.

Your personal insurances should be reviewed whenever there is a major change in your personal situation. Generally, as savings increase and debts decrease, the level of cover required reduces over time, but again, much depends on your individual situation.

Life Insurance - This pays a lump sum benefit if you die, Total and permanent disability insurance (TPD) - This pays a lump sum benefit if you meet the definition of being totally and permanently disabled. It is often bundled with life insurance, Critical illness insurance (Trauma) - Also referred to as critical illness insurance, trauma insurance pays a lump sum benefit if are diagnosed with or suffer from one of the specified illnesses, such as cancer, heart attack or stroke, and Income protection insurance - If you are unable to work due to illness or injury, income protection insurance will pay you a regular income, usually capped at 75% of your pre-illness income. You can select the waiting period before benefits become payable, and the length of the benefit period.

The executor of a Will is responsible for carrying out the wishes of a person after they die. The role of the executor is to manage the estate within the terms of the Will and protect the assets of the estate. The executor of an estate must comply with various laws and rules that govern the administration of deceased estates. Many people, when nominated as an executor, are unsure of what is expected of them. The duties of an executor can be complex and demanding and require an understanding of the law, tax and accounting requirements. ‍

A power of attorney (POA) is a document empowering a person (or persons) to act on your behalf (the Principal) with respect to your financial (and/or Medical/Personal) arrangements. Powers of attorney can be either general or limited. Under a general power of attorney, the attorney is able to do nearly all things the person giving the power could legally do. Under a limited power of attorney, the power is restricted in some way. For example, the attorney may be appointed only for a certain time or only to perform certain acts.

Ordinarily, a child’s surviving parent will automatically be the child’s guardian. However, it is necessary to make provision for circumstances in which both parents die at the same time. There may also be instances in blended families where each Testator of a current couple may have different Guardianship appointments.‍ A guardian is responsible for the daily and long term care and welfare of your child and for making important lifestyle decisions on their behalf. The guardian must ensure that the child is adequately housed, clothed and educated. The guardianship of minor children is an important and often onerous task and the appointment should be thought through carefully.

A Will is generally the most important document any person will sign and is at the centre of your estate plan. It is important that an estate plan is specifically tailored to your needs and circumstances during your lifetime. A sensible plan will aim to minimise tax, provide asset protection (as reasonably expected), cater for the circumstances of beneficiaries and effectively utilise existing structures, such as superannuation funds and trusts. After death only a court can alter the terms of a Will and, unless a court intervenes, the Will regulates as to how the deceased assets are to be finally dealt.

Retirement is the stage of life when you stop working for income and rely on your savings, investments, and government benefits to support your living expenses. Retirement can be voluntary or involuntary, depending on your health, financial situation, and personal preferences. Retirement can also be partial or full, depending on whether you continue to work part-time or casually, or stop working altogether. Retirement is a personal choice that requires careful planning and preparation to ensure you have enough income and resources to enjoy your desired lifestyle.

Listed investments refer to financial instruments that are publicly traded on a stock exchange. These include shares, bonds, ETFs (Exchange-Traded Funds), and other securities. Companies list their shares on stock exchanges to raise capital from the public, allowing investors to buy and sell these shares in a transparent and regulated marketplace.

The amount of superannuation you need to retire on $80,000 a year depends on several factors, such as your age, life expectancy, investment returns, and lifestyle choices. However, a general rule of thumb is to multiply your desired annual income by 25 to get an estimate of the lump sum you need. For example, if you want to retire on $80,000 a year, you will need $80,000 x 25 = $2 million in superannuation. This assumes that you will draw down your super over 25 years and receive a 5% annual return on your investments.

The amount of superannuation you need to retire on $60,000 a year depends on several factors, such as your age, life expectancy, investment returns, and lifestyle choices. However, a general rule of thumb is to multiply your desired annual income by 25 to get an estimate of the lump sum you need. For example, if you want to retire on $60,000 a year, you will need $60,000 x 25 = $1.5 million in superannuation. This assumes that you will draw down your super over 25 years and receive a 5% annual return on your investments.

The duration of $1 million in retirement depends on how much you spend, how much you earn, and how long you live. For example, if you spend $60,000 a year, earn a 5% annual return on your investments, and live for 25 years, your $1 million will last until you are 85 years old. However, if you spend $80,000 a year, earn a 3% annual return, and live for 30 years, your $1 million will run out when you are 76 years old. You can use online calculators or consult a financial planner to estimate how long your money will last be based on your personal circumstances.

Most Australians find a Financial Adviser through a referral from family, friends, or another professional such as an Accountant. This can be a good start but how do you know you've got a good one? You won't at first and that's okay, just like repairing your car or renovating your home it's best to get a few quotes. Meet with at least 3 Financial Advisers, most may offer a free initial consultation and if not be prepared to pay a small fee, we're talking about your financial future you can afford to interview a few.

Apart from those who need advice for a specific reason (such as tax planning for selling property/ business or buying life insurance) there are 2 main reasons for people to seek Financial Advice, these are: Retirement planning, and To optimize their finances.

In some cases, advice fees may be tax deductible, usually when linked to management of your investment portfolio. You will need to consult your accountant on the deductibility of fees. There has been a number of recommendations relating to the affordability of advice and making all advice fees tax deductible is one I support strongly.

You may be able to pay Financial Advice fees from your Super account depending on the nature of the advice as it relates to your Super.

We focus on proven investments such as Shares, Term Deposits, Managed Funds, Exchange Traded Funds (ETFs) and Property. We avoid get rich quick schemes and overly speculative investments. We do not recommend cryptocurrency.

Everyone is different and I believe it's best to start with what you're currently spending. First, subtract any expenses you'll no longer incur when your retired; don't need to park at work anymore; good-bye monthly donations for colleague birthday's you don't even see; maybe you'll only need to fill up your fuel once every couple of weeks now you're not driving to work every day.Next, you'll need to add in the additional things you're wanting to do with your extra time, things like regular holidays you intend to take, maybe you've got a new hobby you'd like to start or maybe you can finally start working on getting that handicap down. Whatever it is think about how your spending may change, it's not uncommon for your spending to stay the same as you find ways to amuse yourself, sometimes expenses can go up!In saying that, there are some estimated amounts guided by the Australian retirement standards association, but I caution on using anything less than the comfortable retirement estimate. Especially in your early years of retirement, that's you chance to finally break free of the 9-5 and do all the things you've been dreaming.

A financial advisor’s role is to help you get the most out of your finances - helping you manage your budget, to recommending Superannuation funds and investments or creating a retirement plan for you.