Hi All,
Looking for any recommendations for good financial planners in Melbourne. I really have no idea where to start, but i'm looking to start putting ~5k a year away into something long term (~35 years). Are all FP's fairly similar? Are ones who are aligned with banks worse and more bias?
Decent Financial Planners In Melbourne
elliot81 on 12/07/2018 - 10:56
Comments
start putting ~5k a year away into something long term (~35 years).
If you don't need access to the funds during those 35 years, then you can stick it in super as salary sacrifice pre-tax. Nothing else beats the associated tax benefits.
Depending on your income, you might even be eligible for the co-contributions, which his up to $500 (which will require a post-tax contribution).
Super rules are constantly changing. Retirement age thresholds are also changing. Putting some additional money into super is good, but if you are young, it's anyone's guess when you will be able to access it.
Really depends on whether OP wants to lock away the money. Some people are less disciplined with cash that's accessible. (I personally don't do it myself because I'm not even sure if I'm going to live that long! haha)
You're definitely right about the rules constantly changing, but the tax benefits are pretty good. If OP has low income and wants to lock away $5000, the co-contribution is already a 10% bonus (until of course, they totally remove that incentive!)
I hear financial planners cost 2-10k for advice?
If you're super is with an industry fund, give them a call. Most employ financial advisers who can give basic advice (which would suit your contributions goal) for free or a reduced cost.
Avoid big bank aligned planners at all costs.
If you're super is with an industry fund, give them a call. Most employ financial advisers who can give basic advice.
Most funds seem to have this benefit nowadays. The market is quite competitive and everyone's thinking of new ways to attract members.
DON'T lock it away for any extended time.
DON'T ask why, just DON'T.
Consider:
Centre In Finance
Financial Planner
1/347-353 Camberwell Rd
(03) 9813 5822Listen to them not me or any other online advisors. :-)
What is your recommendation based on?
End of the world … ending of current financial system as we know it … end of government … death … etc
list goes on …
Hi Sofie
Can you PM me re: mortgage broking?
Cheers
Basis 1) Advisor recommended lock away my funds for 40 years @ 10% Sounded great until the Reserve Bank backed investment company went bad after a few years and froze all funds. I eventually got a release of 40% of my current funds. I won't say that it won't happen again, but when it happens there's F'all you can do.
Basis 2) I never went to that advisor again and found C.I.F. and have never looked back. Very friendly, great advisor. No problems.
Now can you remove my neg please?
Ozbargain has a few of those