Money is very important, we definitely can’t live without it and for most people, the goal is to become financially secure when you reach retirement age. Forget government pensions, the money you receive will not be enough for you to enjoy a comfortable retirement, that isn’t to say you should have a pension, rather you need to make provision to generate wealth whole you are young.

A financial advisor offers their clients a wide range of services, which we outline in this short article.

• Estate planning – Everyone should have a will that instructs the executor on how to distribute your assets when you pass on. Of course, no one wants to pay any more tax than they have to and a good financial advisor can minimise you tax liability to protect your assets and ensure your loved ones are taken care of in the event of your death. You might be advised to set up a trust to protect your children’s inheritance. One aspect of estate planning to preparing a Last Will & Testament, which needs to be signed and witnessed and must be clear and concise regarding the distribution of your estate.
• Wealth generation – If you are a middle-aged career person with some disposable income, you can approach a leading Australian financial advisor such as Future Wealth Group, reputable firm that has many clients. Wealth doesn’t just arrive, you have to plan carefully and make all the right investments and to do that, you are going to need a financial expert to help you plan your investment portfolio. There are many forms of investment and you should diversify and not put all your eggs in one basket.
• Minimise taxation – We all know that governments want their share of the pie and they will try to get you to part with as much of your money as they can. If you are not knowledgeable about taxation, you could end up paying two or three times as much as you should. The financial advisor has a wealth of experience regarding all forms of tax and with their help, you can minimise your liability. The more assets you own, the complex it is to keep tax to a minimum, but there are always ways that you can do that. The expert might, for example, advise you to make a donation to a charity and this is tax deductible and actually saves you money. Click here to learn about buying real estate in Sydney. Tax laws are very complex and you need to have sound knowledge of how the system works in order to minimise your tax liability.
• Mortgage broker –When buying real estate, most people do not have the money to buy the property outright, so they need to take out a home loan or mortgage. The advisor has many connections with lenders so they can find one that best meets your needs. You definitely need professional advice when looking for a home loan, as there are many different types of mortgage and a good financial advisor is also a mortgage broker.
• Debt management – If you have multiple credit cards and you find it difficult to make the payments on time, a financial advisor might recommend that you take out a debt consolidation loan, which pays off all the credit cards and leaves you with a single monthly payment that is affordable. It is no use to ignore demand letters when you are in debt; the situation will not resolve itself, nor will it go away; better to tackle the problem head on and come up with a workable solution that will lead to you being debt-free.
• Superannuation advice – You need to make your super work for you and there are many options if you know what you are doing. With the help of a good financial advisor, you can plan for a secure retirement by making all the right choices about your superannuation.

Most people who are serious about their financial security will approach a reputable firm that offers the best advice and can help to plan to achieve your investment goals. Start with a Google search to find a top Sydney financial advisor and let the professionals help you to generate and protect wealth that ensures you enjoy a comfortable retirement.