If something were to happen to your vehicle, it would probably be covered by your car insurance and if you were to require any medical treatment it would probably be included in your health cover but there are many people whose assets and income are under-insured and some people haven’t taken out any cover to protect their wealth.Having adequate personal insurance gives you the peace of mind that if something was to happen which impacted your ability to earn an income, then the lifestyles of those who depend upon you would still continue as normal. Our financial planners will be able to assist you with finding the right level of cover to adequately protect your income, assets and wealth. Please contact 1st Street if you would like to arrange an obligation-free meeting.
Life insurance provides a lump sum benefit to pay out debt and support the family should someone pass away.
It can cover things like
|TOTAL AND PERMANENT DISABILITY INSURANCE||
TPD cover provides a lump sum payment if you suffer a disability before retirement and can't work again, or can't work in your usual occupation or chosen field of employment.
It can cover things like:
|TRAUMA INSURANCE||Trauma (or critical illness) insurance provides a cash sum if you suffer a specified illness or injury. Most people don't have money saved away to take time off work and treat illness, so this payment is designed to assist with that. Did you know? 2 in 5 people will suffer a major illness before the age of 65, and in Australia the average cancer treatment will cost in excess of $100,000.|
Income protection insurance (also known as salary continuance or income replacement) provides a monthly payment to replace lost income if you are unable to work due to injury or sickness.
Financial advice means different things to different people. In the end, financial advice is all about you. It could be dealing with:
It can be hard to find out this information if talking with family and friends. Our experienced and qualified advisors will be able to explain these concepts in easy to understand language so you can take control of your future.
Initial meetings are complimentary with no obligation so you should make the time to at least have a conversation.
Full-time earnings in Australia averaged $69,992 a year in the first quarter of 2012 (Seasonally adjusted wages – Bureau of Statistics.) So, assuming that you earn the “average wage”, this means you will bring a total of $3,149,640 in wages into to your household over your working life (age 20-65) and that’s assuming you never get a pay rise!
As part of our dedication to providing you a full financial service, 1st Street has a dedicated financial planning team to take care of financial aspects such as insurance, superannuation, and wealth protection.
|MAKE YOU FEEL BETTER||Our advice helps you make the right choices for life’s important financial decisions.||
|MAKE A DIFFERENCE||We look at how your finances are structured and identify ways to solve problems and help you reach your goals.||
|SAVE TIME||Even with the best intentions, it’s hard to find time to create a comprehensive wealth plan that will really make the most of your money.||
|MAKE LIFE SIMPLER||We are experts in financial management, qualified to help you navigate the complex legislation that governs investment, tax and superannuation.||
(Self-managed super funds)
Setting up an SMSF is a major financial decision and you need time and financial skills to manage it. If you set up a SMSF you become a trustee of the fund. This means you’ll be responsible for managing your SMSF according to its trust deed and the laws and rules that apply to SMSF’s. The key principle is that you run your SMSF for the sole purpose of providing retirement benefits to fund members. Your investments must be separate from the personal and business affairs of fund members, including yourself.
|INVESTING IN YOUR FUTURE||What is superannuation?||
Superannuation, or super is a way to save money for your future. It is important to understand how much super you’ll need, and how best to manage the money for your retirement. Through super, you can hold a wide range of investments such as shares, property and cash.
Superannuation is attractive because it receives favourable tax treatment, both when you are working and once you are retired. Employers must pay superannuation contributions on behalf of their employees and you can also chooseto add money into superannuation out of your own pocket.
|WHY DO IT?||
Superannuation is likely to become your 2nd biggest financial asset which help funds your retirement
As a guide, a “reasonably comfortable” lifestyle for a couple will require around $60,000 a year.
The Tax benefits include:
If you were to contribute just $25 a week into your super (after tax) for the next 30 years, your super assets could end up $66,000* better off at retirement than someone who relies solely on their employer’s min contributions. That’s more than enough to cover a year’s worth of retirement income.
|SMSF||Would a Self-Managed Super Fund work for you?||
An SMSF is not for everyone. It provides members the ability to privately manage their own super benefits for their retirements and allows additional control. It is important to remember that with the additional control comes added responsibility. An SMSF is only appropriate if you have the time, the desire, and the expertise to manage your super affairs correctly
Did you know - you can buy residential investment properties inside your SMSF?