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Financial Planning

What is Financial Planning exactly?

A wise man once said: “He who fails to plan, is planning to fail” — Winston Churchill.

Financial Planning is planning your personal finances to ensure that you are able to meet your current, medium and long term financial needs and goals, whether they be saving for a new house, car, children’s education, retirement and so on.

We all make plans on a daily basis. We plan what we’re going to do each day, when and where we might take our next holiday, when we will start a family, when to buy a house, what we plan to do when we retire (hopefully sit back and count our money!) and the list goes on.

Too busy to plan? Not enough time in the day? A little advice: It is REALLY important to stop, take a moment and think about your bigger pictures. You don’t want something to happen and then you’re left wondering WHAT IF?

Taking the time to sit down and discuss your financial situation with Troy from Lifestyle Accounting & Mortgages, will help you identify your goals, establish a strategy or two, and begin the necessary steps to achieve these goals in a way that suits your situation. Troy actually does listen to what you are saying and will endeavour to come up with a solution to get you to where you want to be.

We know that the word ‘finance’ encompasses a lot, so if you’re only wanting advise for one particular financial matter (such as Super, Insurance, Mortgage, Retirement or Shares etc), no worries. Troy is a specialist in helping you with all (or just one) of your financial matters. As no one person can know everything, if additional advice is required by a suitably skilled person, then of course such recommendations are available!

A dentist specialises in taking care of your teeth, a mechanic your car, a doctor your health. Lifestyle Accounting & Mortgages specialises in YOU. We will take care of your current, medium and/or long term financial needs and goals, and being in the business for donkeys we have all the ‘right’ connections to get you the best deal possible. Without a doubt, we’ll be able to assist you to establish, meet and maintain your financial debts and goals. It’s not by luck we’ve been in this game as long as we have…..!


So, how does the financial planning process work?

Step 1: The Blind Date

The first meeting is like a first date (don’t worry Troy isn’t as bad at socialising as you may think). He will ask you questions in regards to your income, expenses, assets, current savings or investments, credit card debts and what your short, medium and long term financial goals are . With this information Troy will be able to determine the best course of action and the best path for you to take in order to achieve all your financial goals. If required, the appropriate external advisers to be used. It’ll be like a financial dream really! Troy will be there to hold your hand every step of the way. And so the fun begins…

Step 2: Plan & draft, it’s all a craft!

A draft plan, which will outline different strategies and recommendations that will allow you to achieve your financial goals and dreams. Everyone has different dreams, therefore your tailor made plan will be your own, not some generic plan given out to any Tom, Dick or Harry! Then there is the second date (yes it really did go that well!) On date number two, discussions take place around the draft plan that’s been devised, as such time recommendations will put forward. If anything pops up, no need to fret as plans can and always will change and can be easily altered if need be. Once you are happy with your Financial Plan an official document called a Statement of Advice (or of Limited Advice) will be prepared. Now it starts to get serious …

Step 3: 1, 2, 3 … Action!

It’s action time! This may involve the set up of new accounts, insurance being taken or increased, tweaking any loans you have, super being tweaked, shares being purchased ,a budget being put into place, or retiring early (yes this can happen). Troy can assist you in this process to make it as simple as possible.

Step 4: Review it, don’t screw it

No one knows what is going to happen tomorrow or in the future, therefore over time you will be asked on more ‘dates’ to review your personal circumstances and ensure that the recommendations are still relevant to your financial needs and goals. Sounds good huh?

Step 5: Take control!

OK folks, now it’s over to you. Nothing’s going to change or get better without you picking up that phone or tapping away on that key board. We’re here to help you & we are a simple call or e-mail away.


What Next?

Interested? We knew you would be. Sticking to the process above we’ll help to make your financial plans a reality!

We are Specialists in helping you! So get in touch to get the ball rolling!

Keen to find out more?

Get in touch to make an appointment today!