FINANCIAL PLANNING

Starting out • Accumulating • Pre Retirement • Post Retirement

Optalife will assist with developing, implementing and monitoring a strategy to help you achieve your personalised goals and objectives. Whether you are just starting out, in the process of accumulating wealth, thinking about retirement or in retirement, we can empower you through life’s decisions to ensure you get the best outcome.

Our role is to understand you and your unique circumstances. We will simplify often complex and complicated concepts to develop your strategy, giving you the confidence and peace of mind about your current and future financial needs.

Our Services

Budgeting and Cash Flow Management

A budget is the basis of your financial plan, because it provides a disciplined approach to savings for your goals. To start on the path to building wealth, you need to start saving money. The best way to do this is to set yourself a budget. Setting a budget is about finding a balance between income and expenses and deciding what’s important so that there is money left over to save.

Setting a budget can improve your cash flow and increase your savings capacity. Maintaining a proactive budget will assist with funding personal and lifestyle objectives, repaying debt sooner and funding investments in preparation for retirement.

Optalife Advisory can assist with creating a personalised and achievable budget with regular monitoring to ensure it’s kept on track.

Protection and Income Continuance

The common belief that “it won’t happen to me” results in many people having a sound plan for wealth creation but not for protecting the very thing that generates wealth – themselves.

No matter how well you manage your financial affairs, there is always a risk of serious illness, injury or death. Where that leaves you and your loved ones financially can depend on the insurance cover that you have in place. With the myriad of products and policies out there it can be confusing to know where to begin.

We specialise in providing advice on:

  • Life Insurance
  • Total and Permanent Disability Insurance
  • Trauma/Critical Illness cover
  • Income Protection
  • Business Insurance
Retirement Planning

Retirement is one of the biggest events we will face in our lifetime. The unfortunate part is that we often neglect planning for it. The sooner we plan for and start thinking about retirement, the easier it will be to achieve a comfortable retirement.

When planning for retirement there are many things to consider.

  • What age would I like to finish working?
  • What income will I need to fund my lifestyle?
  • Will I be entitled to any Centrelink benefits?
  • What investments are right for me?
  • How much risk am I prepared to take with my investments?
  • Should I contribute more to superannuation?

Without appropriate planning we will often cut ourselves short and not live our desired lifestyle. At Optalife Advisory we will review your retirement objectives and tailor make a strategy to assist with their achievement. We aim to take the confusion out of retirement to enable you to concentrate on the more important things.

Centrelink Planning

Taking advantage of any potential Centrelink entitlements is a great way to maximise your income and help in times of need. Entitlements such as the age pension can be used in conjunction with superannuation to achieve an adequate level of income in retirement. Other Centrelink payments include

  • Disability Support Pension
  • Carers Allowance
  • Family Tax Benefits
  • New Start Allowance

Optalife Advisory will work with you to ensure you receive any Centrelink entitlements you may be eligible for.

Debt Reduction

Reducing debt is an effective low-risk strategy. You can save money in interest payments without the risk of market volatility. The benefits of reducing debt include:

  • You can reduce the overall interest cost on your loan.
  • You may be able to reduce the term of your loan.
  • You have potential to increase your wealth by directing surplus cash flow towards savings instead of repaying non-deductible debt.

Optalife Advisory will review your current levels of debt and create a tailor made strategy advising on the most effective debt reduction solution.

To find out more on the most effective way to reduce your debts speak to us today.

Superannuation

Superannuation is a vital, yet often under-utilised investment structure. Superannuation is a retirement nest egg that will assist with funding a large component of your retirement. Your superannuation fund are derived from your compulsory employer contributions and the investment returns they accumulate. The balance is invested based on the various options your super fund enables. Different styles of super funds may offer more options or control over how the money is invested. It is imperative this is in line with the member’s comfort levels and risk tolerance. Superannuation has very favourable tax treatments which makes it a very attractive investment option.

There are many ways to maximise your current superannuation. Optalife Advisory will tailor make a superannuation strategy by aligning your superannuation investment with your goals and objectives. Optalife Advisory can also look at the viability of a Self-Managed Super Fund (SMSF).

To hear more about how we can get your superannuation working for you, speak to us today.

Investment Planning

Having an appropriate investment strategy can maximise your returns and help you reach your goals and dreams. The tough part is, where do you start?

Whether you’re an experienced investor or a beginner trying to gain exposure to the market. Optalife Advisory can take the complication out of investing by creating a tailored made, diversified investment strategy in line with your risk tolerance, goals and objectives. By analysing your full financial situation, we can determine the most suitable investment solution for you across a wide variety of investment options.

Self-Managed Super (SMSF)

An SMSF can give you flexibility and control over your retirement savings. With the greater control comes greater responsibility when operating a SMSF and something that needs to be taken into consideration. Optalife Advisory will review your superannuation needs and determine whether or not a SMSF is the right superannuation strategy for you.

The key benefits of a SMSF include:

Control – a common motivation for setting up an SMSF is a desire for control over retirement savings, including investment decisions. An SMSF gives you freedom to set your own investment strategy and select the underlying investments.

Investment choice – an SMSF can provide you with opportunity to invest in assets which may not be available in public offer superannuation funds, such as your business premises if you run a small business, artworks, vintage cars or wine.

Reduced costs – the costs associated with running an SMSF can be less compared to a retail fund if your SMSF has a large balance. This is because most SMSF costs are fixed, so they represent a smaller percentage of the total balance the larger the SMSF balance is. This compares to most retail funds that charge fees by percentage, so the higher your account balance, the higher the fees. An SMSF also gives you control over buying and selling investments which allows you to incorporate tax strategies and/or market expectations.

Flexibility – an SMSF is a highly personalised and flexible trust which can facilitate a range of strategic options, potentially covering the retirement and estate planning needs of a whole family.

Our Advice Process

For many Australians, achieving long term financial and lifestyle objectives can be complicated and time consuming. We have created a simple six step process to ensure a smooth and comfortable journey for our clients. Here’s what to expect:

STEP ONE: Initial Consultation

Your Goals! The initial consultation is a goal development, education and fact find session designed to get to know you on a personal level. In order to create your tailor-made strategy, we need to fully understand your short and long term goals, as well as your current resources and potential strategies.

STEP TWO: Defining the Scope

What areas are to be addressed! Based on your goals and objectives we will define the scope of advice to be addressed. The scope may be limited to one strategy, or it may address all areas of your financial situation.

STEP THREE: Conduct research and analysis

Our findings! We will commence our research and analysis of your unique goals and objectives. This will involve reviewing current products and strategies to determine their viability. You will be kept well informed through this process.

STEP FOUR: Your tailored made financial plan (Statement of Advice)

Our recommendations! Your Statement of Advice will contain our recommendations on the most suitable strategies, investments, products and services to help with the achievement of your goals. These recommendations are presented in person to ensure adequate understanding by giving you the opportunity to ask questions on our advice.

STEP FIVE: Implementation

We will do all the work! Once you’re comfortable to go ahead, we will put the plan into action. We will work with your current providers, potential new providers and any third parties, such as accountants or mortgage brokers, to get your recommendation underway.

STEP SIX: Monitoring and Reviewing your Plan

A strategy that evolves with you! Over time your circumstance, goals and objectives may change. As a result, we build a continued relationship to ensure your stay on track and your financial plan is still relevant to you.

CONTACT US FOR A COMPLIMENTARY & OBLIGATION FREE CONSULTATION »

Suite 4
Level 7, 443 Little Collins Street
Melbourne, Victoria 3000

Tel: 03 9077 2007
Fax: 03 8672 7676
Email: info@optalife.com.au

Optalife Finance: Suite 4 Level 7, 443 Little Collins St Melbourne, VIC, 3000