We at Sky Advisers believe that good financial advice gives you choices and the freedom to do what’s important to you and those close to you.
Personally, we value family, friends, good health and having both the time and ability to enjoy life
We like to help and work with people who feel the same way.
We help you achieve your goals and the things that are important to you. We listen to you, take the time to learn about your values and explore your likes and dislikes.
Importantly we offer strategies appropriate for you and where you are in life and that will help you get to where you want to go.
We also appreciate life doesn’t always go to plan so importantly we plan for the unexpected.
As your financial advisers we commit to:
- Providing advice that makes life simple, easier to manage and not harder and more difficult;
- Assisting you to understand and place priority on the things and behaviours you can control or influence as well as accept the things either you or us as advisers can’t control;
- Doing what we say we’ll do;
- Communicating with you regularly and appropriately;
- Behaving honestly, professionally and with integrity;
- Respecting your values and not attempting to impose strategies or products which are unsuited to you or you don’t want;
- Engaging with you at agreed intervals to review progress toward your goals;
- Being there for you when you need help or when things go wrong;
- Referring you to other well regarded professionals such as accountants, solicitors or lenders where needed; and
- Walking the walk with you – meaning managing our own affairs and lifestyle well and adopting the same types of strategies and products we recommend to you.
We advise on:
Accurate identification of ongoing expenses forms the foundations of a good financial plan.
We find that people who keep accurate records are able to improve the quality of their planning, budgeting and identify areas of wastage without reducing their quality of life. The money this saves can then be spent achieving other personal plans.
The historical data that good record keeping provides forms a good base for future planning.
Most people have debt in one form or another, the debt might be a mortgage, car loan, credit card or line of credit.
Debt management starts with knowing and understanding your exact financial position. It’s vital that you have a clear understanding of your income and expenses. Managing debt is an important aspect of Financial Planning at all stages of life. This is particularly relevant for people who want to enjoy a quality of life while they have a mortgage or other debt. Taking control of the situation may sound like hard work, but it will lead to a better financial position and ultimately relieve stress.
The term ‘personal insurance’ refers to insurance policies you take out on yourself. It provides protection against events like sickness, injury and death that prevent you and your family from meeting your financial commitments and lifestyle requirements. The below outlines the most common forms of personal insurance:
- Life insurance;
- Total and permanent disability insurance;
- Trauma insurance; and
- Income protection.
It is important to understand that insurance does not remove the risk of something going wrong. It provides you and your family with protection, compensation and financial security if something does happen. Put simply, insurance helps you manage those unexpected events that may otherwise mean you have to:
- Use your savings or investments;
- Borrow money;
- Ask family, friends or others for financial assistance;
- Sell assets to pay outstanding debts and day-to-day living expenses; or
- Find other ways to make ends meet.
Everybody’s circumstances are different, however, insurance is important for everyone. Your need for insurance will change as you move through different stages of your life. The amount of insurance you require will be influenced by your how much you earn, the change in cost of living, your assets, your liabilities, if you are married or in a defacto relationship, and the number of dependants you have – all of which may change depending on your life stage.
While having insurance can give you peace of mind, it’s not like a savings account. Insurance involves the payment of a premium in exchange for cover. You will only receive a benefit if you have a legitimate claim against the policy you have bought. There are many types of insurance. Unlike car and home contents insurance, which allow you to insure your belongings, personal insurance policies enable you to insure yourself and your ongoing well being.
Whether you are putting aside $2,000 to use in three months or saving for your retirement, the things you need to consider before investing are the same. Investing increases the value of your money to help achieve your goals and objectives. There are five different asset classes you can invest in: cash, fixed interest, property, Australian shares and international shares. Each has its own level of risk as well as a potential return. Investment risk is crucial to achieving higher investment returns over the long term. It is also important to remember that you should only take as much risk as you need to achieve your goals. If you can achieve your goals by taking on a low level of risk, then why risk your money and your goal by taking on a higher level of risk?
Superannuation, or ‘super’, is a way to save money for your future. Its purpose is to help fund your retirement so you do not have to rely on the social security system to fund your lifestyle.
The reason that superannuation is attractive as an investment vehicle is because it receives favourable tax treatment, both when you are working and once you have retired. The government offers these tax savings to encourage you to build your superannuation assets.
You invest into super by contributing money into a superannuation fund. There is a wide range of superannuation funds to suit different requirements and arrangements. The most common types of funds are:
- Employer funds or corporate super plans;
- Industry funds, including those catering for a particular industry, such as the building industry;
- Personal funds. These funds are separate from an employer or industry fund and are run by a fund manager. Personal funds are those you have independently chosen to invest in; and
- DIY super funds, otherwise known as self-managed super funds. These funds are set up by an individual or a group of less than five people.
If you are an employee, your employer is required to pay superannuation contributions on your behalf. These contributions are called superannuation guarantee.
You can contribute your own money in addition to your employer’s contributions to increase your superannuation savings. You can do this through what is called a ‘salary sacrifice’ contribution.
Employer contributions are not the only way for you to build your superannuation. You can choose to make personal contributions to your super from your after-tax income. Depending on the amount of money you earn, making a personal contribution to superannuation may entitle you to a co-contribution from the Government.
If you are self-employed, you can also contribute to superannuation by making personal contributions. You may be entitled to a tax deduction for the contributions you make depending on your individual situation.
It is also possible to contribute to your spouse or partner’s superannuation. This type of contribution may entitle you to a tax offset, depending on how much your spouse earns. If you would like to know more about superannuation and get the best outcome for yourself and/or your family please contact us on (03) 6278 1199.
Sky advisers supports SMSF member/trustees with advice and administration support. Your Sky Advisers Certified Financial Planner and accredited SMSF Specialist can provide:
- SMSF establishment advice and support;
- Ongoing strategic and technical advice and support;
- Portfolio construction, management and reporting;
- Direct share advice and support;
- Insurances advice for SMSFs;
- Advice on non-recourse loans and referral to lenders;
- Facilitation of tax and regulatory return preparation and administration services;
- Access to audit and actuarial services;
- Introductions for SMSF professional legal services; and
- Trustee/member information and education services.
We are mindful that many SMSF trustees like to retain control of their portfolios, choose their own investments and keep costs low. With this in mind, we offer a flexible range of services and the opportunity to choose the level and nature of support appropriate for you. Whilst we have a full service offering, including access to accounting services, we also recognise many clients have existing relationships with an accountant or a stockbroker with no reason to change. We respect our clients’ choices in these matters and commit to working with any preferred or existing professionals.
Our SMSF fees are simple and transparent, free of entry or trailing commissions and reasonably reflect the work needed to be done. We welcome the opportunity to discuss how our SMSF services can meet your needs and provide an estimate of fees tailored to your individual requirements.
During your working life you receive regular income in the form of a salary or business income. In retirement, this regular income stops. We’re living longer and staying more active in retirement — which means we also need to save more. The goal of retirement planning is to achieve financial independence. Retirement planning covers topics such as how much superannuation is enough, taking a super pension, claiming the Age Pension, making superannuation contributions while receiving a pension from a super fund, estate planning and looking after your family
At certain times in your life you may face circumstances or situations that make it difficult for you to generate enough income to meet your needs. Events like losing your job, or being made redundant, are, unfortunately, quite common. Other situations like having a disability that makes it hard to find or perform work, a large family with numerous mouths to feed, or losing your partner, can also be times when you may be in need of help. The Australian Government established Centrelink for exactly this purpose: to help people become self-sufficient and to support those in need. Centrelink can provide assistance in a number of ways, including:
- Providing you with income through lump sum or ongoing payments
- Discounting health care and public transport through concession cards
- Supporting you through services like health care, counselling and job seeking.
You spend a large proportion of your life working; working to get money to look after yourself, to provide for your family and to save for the future. Given the focus that is placed on creating wealth while you are alive, it seems logical to want some control over what happens to these assets once you are gone. Estate planning is about giving you that control. Control to make sure that:
- the people you care about are looked after once you are gone; and
- your assets are passed to the people you want to receive them.
In simple terms, estate planning is about wealth succession – a process designed to help protect the wealth you have built over your lifetime so that it is distributed smoothly according to your wishes.
Aged care planning is a highly complex area. Part of the planning process, is to understand all of the costs you will incur, both upfront and ongoing. Information about specific costs and entry requirements are provided by each individual aged care facility.
The Department of Social Services, as well as Centrelink and the DVA, are important sources of information to help you understand your specific situation.