Skip to Main Content

Financial planning

The basics of a financial plan

Most people with a reasonable level of financial resources have a regular financial ‘check-up’ to make sure their investments are on track. They match their needs and risk profile, they make sure they get their tax benefits and make sure their superannuation is at the right level to meet their retirement goals.

More often than not, however, it’s people with lower levels of financial resources that could get the most value from some financial advice.

Financial planning through a professional, licenced advisor can help you with:

  • Investment planning and analysis
  • Tax matters 
  • Cash flow and income streams
  • Risk and growth strategies
  • Planning for retirement
  • Setting up an investment template
  • Debt and asset consolidation
  • Estate planning

How do I find a good advisor?

Head to our page on Financial Advice.

Plan the planning

To get the most out of the financial planning process, take some time to write down what you want the planner to look at and make recommendations on. Also think about your goals in regards to your finances and your lifestyle in general.

Your financial planners will probably give you an idea of the information they’re going to need, and most likely it will include:

  • Bank statements or balances
  • Superannuation details (including current balance and investment mix)
  • Insurance details
  • Tax returns (usually from the past three years)
  • Income statements
  • Investment details
  • Assets
  • Debts (including mortgages, personal loans and credit card balances)

A good financial planner will also ask you to write down your ambitions for the future, so that they can help you work towards achieving them through sound and realistic budget management.