Power Financial Planning offers financial advice which can help accumulate wealth, advise on insurance for ‘what if’ scenarios, plan for retirement and beyond, and also help you balance, plan and prioritise what you want from life. 

 

Further information about the services we offer is available on this page.

Types of advice

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Insurance

INSURANCE

Aged care

AGED CARE

Investment / wealth creation

INVESTMENTS /
WEALTH CREATION

estate planning

ESTATE PLANNING

Superannuation

SUPERANNUATION

Centrelink

CENTRELINK

Retirement planning

RETIREMENT PLANNING

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INSURANCE

Sometimes the unexpected happens, at that time insurance can help ease the financial stress. An injury or illness can put you out of action temporarily or permanently, putting you and your loved ones under considerable strain. There can be significant advantages to having insurance cover in place.

 

What insurance is right for you?

 

Do you know if you have insurance in super? And if you have insurance, is it the right type and amount of cover for you? This knowledge is the first step to making sure you are financially protected when you need it the most.

Holding the right insurance can be important. Here are three main insurance types within super for you to consider*:

 

Death cover: paid on the death of the insured member or if they are diagnosed as terminally ill with a life expectancy of generally 12 or 24 months.

Total & Permanent Disability (TPD): paid if an insured member becomes disabled and is unable to ever work again or unable to look after themselves.

 

Income Protection: provides a replacement income of a specified amount for members who are unable to work due to illness or injury.

 

Critical Illness: provides a lump sum if you are diagnosed with a major traumatic event such as cancer or heart attack.

 

*We recommend you contact Power Financial Planning to obtain advice tailored to your personal circumstances.

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INVESTMENTS / WEALTH CREATION

Financial planning is important for everybody. We believe everyone should take advantage of financial planning to build their wealth, reduce debts and work towards securing your financial future now and for retirement. The sooner you get started, the better.

 

Investments are useful for providing income during your retirement years, but also to support your shorter-term financial goals.

 

There are many investment and wealth creating avenues available to maximise your income including

asset allocation, savings plans for dependents, ways to manage any additional cash flow, and investigating options such as derivatives, stocks, bonds, and shares, depending on your current financial situation.

 

If invested properly, even a small amount of money can help you reach your financial goals. We can work together to devise a strategy which ensures you are achieving your financial goals.

 

To discuss which options might be suitable for you, contact Judy today or call the office on 07 3219 1273.

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SUPERANNUATION

Superannuation and retirement planning while related, are not exclusive. Using superannuation as a savings vehicle may be an effective way to help you increase your savings to meet your retirement goals. There are many different types of superannuation funds but most fall into a few categories. An industry or retail fund, a Self-Managed Super Fund (SMSF), or a Corporate Fund. Many of the Defined Benefit Funds (offered by the Public Sector or large organisations) are now closed to new members.

 

Power Financial Planning can examine the multitude of options available to you. Like choosing the right fund or the right option in a certain fund, merging multiple accounts from previous jobs, and looking at the different types of ways to balance, plan and prioritise your future plans today.

 

There are many benefits to focusing on and boosting your super now, including potential tax incentives or minimisation strategies, contribution strategies, combining super accounts, adjusting the different investments types (cash, bonds, shares, annuities) within your super and potentially minimising fees. We can help ensure you make the right decisions about your superannuation to secure your financial future.

 

Speak to us about ways we can help boost your super today.

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RETIREMENT PLANNING

Very common questions when thinking about retirement are “Will I have enough to retire on?” and “Can I retire when I want to?”. With good advice and planning, the answers can be what you want to hear.

 

We all want to finish work one day and have a handy sum of money put away. Working with Judy and Power Financial Planning to plan your retirement, can help you make considered choices towards retiring in comfort.

 

At least 9.5% of your working income goes into superannuation, it is likely to be the largest investment asset you have come retirement time. Whatever life stage you are at, we can help.

 

We will support you working through all the options to develop a superannuation strategy which makes sense for your situation now and into the future.

 

Let us help you plan for your ideal retirement vision. 

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AGED CARE

Considering options for as you grow older can also form a part of our plan for you. Whether considering options for yourself or your loved ones, the need for aged care can be sudden and sometimes overwhelming.

 

Some providers offer a ‘private’ service, with fees applicable for the services received, agreed upon by you and the service provider. You might receive care and support from a ‘Government subsidised’ service provider, where the Government contributes part of the cost of your care (when certain conditions are met).

 

We can help you discuss, consider, and decide important aspects such as:

 

  • which type of service could be right for you?

  • what fees are expected and how should you fund them?

  • what options there are for your family home? and

  • If you require a higher level of care; what implications a move might have on any social security benefits? 

 

We cannot alleviate the emotional element of these decisions, however, a financial adviser can ease some of the uncertainty and complex financial components, so you are able to make an informed decision.

 

We help with strategic advice to plan for your ongoing cashflow requirements, aged care costs and a well thought out estate plan.

 

You can find out more about entering aged care and any fees which may apply, by contacting us.  

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ESTATE PLANNING

There is often more to estate planning than simply ensuring you have a Will. In fact, the proceeds from superannuation funds and life insurance policies are not automatically covered as part of your estate, so addressing them in your Will might not be sufficient. 

 

A well-prepared and executed estate plan can ensure your wishes are carried out so the specified assets go to the right people at the right time, in an efficient and tax-effective manner. It can also ensure if you are unable to make important financial and lifestyle decisions for yourself, the person of your choice is able to step in on your behalf.

 

Part of our service offering can also include advice for Family or Testamentary Trusts, Power of Attorney, Advanced Health Directives and Wills, or advice on the appropriate professional service to assist you implementing.

 

To walk through further steps for planning your estate, get in touch with our Team today.

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CENTRELINK

At Power Financial Planning we can also assist with a wide range of social security services and payments offered by the Australian Government. We can support you assessing and applying for the many different payments which might be available to you. Like the Age Pension, information about gifting and the implications, and other options available as you require them.

 

Touch base to see if you are entitled to the range of services and payments.