Marshall Wealth

Want to get ahead and protect your lifestyle?

At this point in your life your priorities may be changing, but you still want to build wealth. Perhaps you are on a reasonable income and you want advice on ways in which to grow and protect your money. As professional financial advisers, we can help.

We can consider the financial security of your loved ones, while you continue to grow your investment and super assets. Yes, it is possible to continue on a financial journey even with an active lifestyle or the expense of a young family.

Meet Andrew and Hannah…

Andrew and Hannah are a young, married couple with no children. They both have good jobs but earn a modest income. Their only major debts are their mortgage and a personal loan for their car.

They have never considered seeing a financial adviser as they figure they don’t have a pool of money to invest and retirement is a long way off so there is no point paying an adviser if they don’t have much to work with. This is a sentiment many young Australian’s may relate to.

Last year, Andrew turned 33 and was offered a new job. The new role came with a substantial pay rise. He knew his employer would be contributing 9.5% of his salary into a superannuation fund for the next thirty odd years, so he started to wonder if his current super fund was the right one for him. But without expert advice he was not confident to make any changes.

Luckily, his new workplace offered a free consultation with a financial adviser as part of an employee benefits program so Andrew made an appointment to discuss different super fund options.

He was pleasantly surprised with the amount of information he received. During the initial consultation, the financial adviser highlighted areas where he wasn’t getting the most out of his finances– he had a lot of inefficient debt, and was paying more tax than necessary. He needed to rethink his overall financial approach not just what to do with his superannuation savings.

One of the areas the financial adviser emphasised was his lack of personal insurance cover. Andrew was reluctant to pay out money for life insurance and trauma cover as he thought he and Hannah were both young and healthy and were trying to save so they could start a family. They didn’t see the need and couldn’t afford it.

After highlighting the additional costs should something happen to one of them, he decided to get the insurance cover and was able to get it as part of his new superannuation fund arrangements and savings advised by the planner.

Sadly six months later, Hannah was diagnosed with breast cancer. She started treatment straight away and, while the outlook was good, she was off work for a number of months.

While this was not something they expected to experience, the insurance they had in place eased some of the burden and stress. Their trauma cover paid out a benefit which covered the costs of Hannah’s ongoing medication and treatment, and a portion of their mortgage repayments.

Andrew and Hannah were pleasantly surprised by their experience with the financial adviser. They felt confident they were more knowledgeable and in a better position financially - and the insurance cover was well worth it.

If you are starting out in life there are things you can do to grow your wealth and protect your lifestyle. A simple conversation with one of our advisers might be all you need to do to get ahead.