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Helping you plan beyond investing

I’ve been left $200,000 by a relative in a will and don’t know how to invest it. I’m 35 with a good job and currently I’m paying off a $450,000 home loan. Should I pay off the home loan or invest it in shares, property or super? Should I go to an adviser?

It’s good you’re asking these questions but I can’t give you advice as I don’t know two important things an adviser would ask you. First, what are your goals? Second, what are your current circumstances – assets, debts, life expenses, etc? This is why going to an adviser can be a good experience, provided they’re honest and don’t overcharge!

Some clients came to us and asked for help with:

  1. School fees for 15 years for two kids.
  2. $10,000 to give their kids when they turned 18.
  3. Funding for an overseas trip in two years.
  4. Tax review to legally reduce tax.
  5. A review of their super fund.
  6. They wanted to retire at 60 with the same lifestyle plus an annual holiday.
  7. They wanted to buy a boat for $70,000.
  8. They asked for wealth creation investment advice.
  9. They needed debt management help.
  10. They also needed a review of their current investments.
  11. They needed insurance help.
  12. And they wanted some estate planning.

This list explains what a good adviser can do for you and, as you can see, it’s not just investing your money. Sure, you can invest your money yourself with some reading and maybe some help from some smart people but I reckon most people need to look at the key areas a good adviser is trained to help you with.

Your three options are all good options but unless I know your goals and circumstances, it is too hard to give advice.

For advice you can trust book a complimentary first appointment with Switzer Financial Services today.

Important information: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

Published on: Thursday, June 24, 2010

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