FREQUENTLY ASKED QUESTIONS

At its core, financial planning is the process of DETERMINING your financial NEEDS and GOALS for the future and the MEANS to ACHIEVE them.

Financial Planning involves deciding what INVESTMENTS and ACTIVITIES would be most appropriate considering PERSONAL as well as broader ECONOMIC CIRCUMSTANCES.

Here are 10 examples of how Elevate Financial Planning can help you:

 1. GOALS and OBJECTIVES

Elevate Financial Planning helps you FRAME your GOALS and OBJECTIVES.

Once you have a clear picture of what you want to achieve, you can focus on what steps need to be taken to achieve it.

2. CASH FLOW PLANNING

Elevate Financial Planning helps you achieves a stable BALANCE between the INFLOW and OUTFLOW of funds.

By completing a budget and planning and tracking your inflows and outflows according to variety of spend, save, give and invest categories, you ensure that every dollar coming in is used most effectively.

3. FINANCIAL CONTROL

Elevate Financial Planning helps you FIND SAVINGS to achieve your goals.

Elevate has a number of strategies designed to suit your unique needs, to help you gain control of your finances so your spending and saving habits become aligned with your passions.

4. INSURANCE PLANNING

Elevate Financial Planning helps you take action to insure yourself and your family to REDUCING FINANCIAL STRESS if life’s unwanted events occur.

If you plan your goals and work really hard to achieve them but you don’t have your risks covered (like health, life and disability insurance), then you may not achieve your goals, even if you have the right investment plan. Your ability to work is your most important asset, if you lose this and you are not covered, your whole financial plan can be at risk.

5. FUTURE PLANNING

Elevate Financial Planning helps you PLAN for your FUTURE.

We are all getting older, do you want to retire with dignity or work forever? Will you be able to work forever? Will the government pension be enough? Will you be debt free and financially independent by then? It is a necessity to focus on your future now.  When do you think you may retire? How old are you now? That is how long you have to financially plan for your retirement. How long do you think you will live for? That’s how long you need your finances to last throughout your retirement.

6. RISK MANAGEMENT

Elevate Financial Planning helps you MANAGE the RISK AND UNCERTAINTY that comes with changing market trends.

When investing you need to consider your approach to risk and how long you want to invest. Financial planning can help you plan for future cash flows, use diversification as a tool to reduce risk and adopt an effective investment strategy that reduces the impact of changing market trends, smooths investment returns and blocks out short term that can cause bad investment decisions.

7. INVESTMENT SELECTION

Elevate Financial Planning help you SELECT INVESTMENTS THAT MATCH YOUR NEEDS.

There are many investments to choose from. Elevate Financial Planning helps you get your investment selection right in the first place by considering your personal circumstances and thinking about the long-term nature of your goals so you can choose investments for the long-term. Investing for the long term reduces your transaction costs. Transaction costs can have a large effect on your overall investment return, especially if your portfolio is relatively small.

8. TAX (FINANCIAL) PLANNING

Elevate Financial Planning helps you OPTIMISE your financial TAX position.

Tax (financial) planning is the process whereby you structure your investments and personal financial affairs to legally reduce your tax liability and produce savings. Tax (financial) planning is legitimate when you do it within the letter and the spirit of the law.

9. ESTATE PLANNING

Elevate Financial Planning helps you TAX EFFECTIVELY plan for the future DISPOSITION OF YOUR ESTATE.

Planning who gets what from your estate can have a dramatic impact on the tax paid by your beneficiaries in the event of your death. For example, death benefits tax can be as high as 31.5% when distributing your superannuation benefits to adult children. There are many ways you can look after your loved ones in the event of your death.

10. ONGOING MANAGEMENT

Elevate Financial Planning keeps you ON TRACK.

By establishing techniques to guide, track and keep you accountable to achieving your goals, it’s not a question of ‘if’ you can achieve your goals, it’s just a question of ‘when’.

Elevate Financial Planning offers comprehensive financial planning to all of the generations (from Gen Z right through to traditionalists).

Yes. Elevate Financial Planning currently works with clients in the metropolitan area, inner West and outer East suburbs of Melbourne. Technology also allows Elevate to service interstate clients as well.

No. Elevate knows your time is precious and is flexible when deciding when and where we meet to discuss your financial needs.

No. The first meeting is free and is not a high-pressure sales pitch. This meeting is a chance for us to get to know one another to see if we can work well together. We will chat about your finances and goals, discover areas of opportunity and discuss how things may move forward. This is also an opportunity for you to tell me what your expectations are of me as your financial planner.

Elevate Financial Planning is a fee-for-service financial planning business which means that compensation comes directly from clients. Elevate does not receive commissions from investment or insurance product manufacturers for selling you products. Any rebateable commission will be passed back to you. Your fees are determined by the services and value you receive from Elevate Financial Planning, not by a percentage of your assets under management.  To learn more about Elevate’s services and pricing, please click here.

Schedule an appointment by visiting Elevate’s contact page. You can also reach Elevate by phone or email. Details are provided on the contact page.