This week is the annual Financial Planning Week, which is now in its 14th consecutive year and runs nationwide from the 25th August until the 31st August 2014.
The event is an initiative of the Financial Planning Association of Australia and is designed to encourage, educate and empower all Australians to experience the positive difference that qualified financial planning advice can make in their lives.
Although the team at Investor Assist aren’t qualified in financial planning, we thought we would take the opportunity to raise awareness of the event, as we believe any initiative that encourages people to take better control of their finances is a good one. We encourage everyone to ask a property investment expert this week and receive strong financial planning advice can make a positive impact on your financial future.
Financial Planning Week provides the perfect opportunity to evaluate the performance of your existing property investments or determining your financial planning strategy if you decide investing in property is something that is right for you. Some good questions to ask yourself (and your Expert include):
- What are my investment objectives for 2014/15?
- How are my property investments performing?
- What can be done to help my investments to perform better?
- Did I claim all possible deductions against my property at tax time?
- Are my property investments being expertly managed?
- Are they achieving an optimum rental return?
- Is my property portfolio sufficiently diversified?
- Do I have the capacity to acquire another property?
- What is my budget for any future property investments?
- What type of property can I afford and where should I be looking?
- Will I purchase my next investment property via my self-managed super fund?
- How can I use my property investments to achieve financial security and plan better for my retirement?
It is also important to make sure the person in charge of your financial planning is a property investment expert. No one is expected to be an expert in all areas of financial planning so if your Financial Planner is able to provide you with good general financial planning advice, don’t be afraid to seek more specialised advice from someone in the property industry who can provide feedback on current data, market trends plus potential investment opportunities to consider.
Any property you own will play a large role in your overall financial planning strategy and should be carefully considered. Be sure to speak to contact your Financial Planner to make sure your financial planning strategy is heading in the right direction or if you would like any assistance with your property related questions, contact a Property Investment Expert from Investor Assist or book an appointment for more inforation – They will be happy to help.
Remember, no matter what age you are or what stage of life you are at, we all could be doing more to make our financial future look brighter!