Rising Tide Blog

What Kind of Assistance Can You Expect from a Financial Planner (Melbourne)?

When you were much younger — about school-age — handling finances was a pretty simple thing. Your parents provided an allowance so you could ensure that all your needs were met, and if there were any excesses, you were free to set them aside for a rainy day or to buy something you’ve had your eye on — do with them as you saw fit. If you needed extra cash, you could take up a part-time job and raise the funds you need for your intended purpose. And that was pretty much the extent of your money management responsibilities.

As an adult, however, things get more serious. You’re now living on your own or with a family of your own, so there are things like rent, utilities, credit card bills, and other things that you need to take care of each month. You have tuition to pay for your children. You need health insurance for everyone in the family. And you have to think about retirement. These are just the tip of the iceberg, as every individual and every household will have more specific financial requirements.

Getting expert help

Have you considered hiring a reliable financial planner? Melbourne locals are sure to benefit much from having such a professional at their side to go over their financial needs and put together a plan of action that would help keep everything in order.

So how, exactly, can financial planners — like the high-performing team at Rising Tide — help you? Here are key points to consider:

Personal and household finances. It’s easy to think that you’ve got a good hold on your personal and household spending as long as all the bills are getting paid and a modest amount is being set aside from each paycheck toward savings, but experienced financial planners can go through your financial information, responsibilities and lifestyle and determine a way to optimise the way you manage your money.

Your personal financial planner can help point out ways that you could save more, or cut down on credit card usage, or catch up with auto loan payments, or take control and eliminate any existing debt. You may even find a more effective way of raising funds for a family vacation or accommodating extended family members into your budget. Helping to figure out how to handle your finances appropriately is something that all households can truly benefit from.

Investment options. Thinking of leaving the rental game and moving into a house of your own? Wondering if you can generate a second income stream and gradually build wealth by buying and flipping properties? Purchasing property is no small task. It can be difficult to determine which pieces of real estate would be a good buy for a permanent family home, or something that you can profit from down the road. Or maybe you’d like to dabble in stocks, bonds and other vehicles that would help you earn more money. Getting a financial planner to help you secure the best options is a good step toward ensuring that your money is placed in the right hands and that you stand to earn well from your investment.

Business matters. If you have a business of your own, taking control of its finances is an entirely separate thing from your personal spending. Get an expert who can help you understand the risks, make the right arrangements, ensure that every operation is sufficiently funded, and keep your venture running like a well-oiled machine.

Insurance and retirement. Planning for the future is something that everyone wants to do, but insurance and retirement policies can be complex, and it seems like there are too many clauses and sub-clauses that could affect your coverage if you fail to understand them thoroughly before you sign on the dotted line. Having a seasoned financial expert at your side means that someone will be there to assess your personal needs and that of your family, and help match or customise a fitting plan that will help protect your future.