What’s your plan for financial security now and in the future?
It’s never too early to plan your financial future, whether it be looking at short-term goals or aiming to achieve long-term financial security and freedom. What is your plan for now and what can you do to ensure that you can live the life you want in the future?
While a secure financial future might not look the same for everyone, generally it requires establishing good financial habits and taking steps to make your money grow. No matter what your current financial situation is, here are some ideas to help you get started:
Budgeting & Spending
The basics of having good financial habits start with the awareness of how much you earn and spend. If you haven’t already done so, now is a good time to sit down and track your income and expenses to see if you’re spending efficiently. Set a budget so that you can save each pay to work towards some short-term goals.
Banking, Insurance & Superannuation
It is a good idea to also examine your bank accounts, insurance, or home loan products to see if they can be maximised for interest or if your bank can help you secure a better deal. Do you know how much superannuation you have and are there accounts that can be rolled over? In order to grow your wealth, you need to have a good idea on how your money is currently working for you.
Contrary to belief, you don’t need to be wealthy to invest, but you need to start somewhere! To secure your financial future, the earlier you begin your investments the better the outcome will be. While there are many types of investments, Property Investment is a popular choice due to its relative stability and potential for long-term growth. However, it is important that you have conducted thorough research before you ‘plunge in’, as there can be many pitfalls with DIY investing and end up costing your hard-earned money.
Short and Long-term Goals
Whether it be an overseas holiday, or perhaps a new car, having short-term goals is a great motivation which can be achieved in the near term with good budgeting. However, it is also crucial to set long-term goals for a secure and free financial future. What life do you want to live when you retire? How much income do you need to maintain a comfortable lifestyle in your later years? This can only be achieved with investments. Again, it’s never too early to start and it’s not too late to start NOW!
Enlisting the services of a professional property strategist and advisor is a prudent way to step into investments and planning for financial security in the future. Invest Hibbards are here to help you start right on the right foot in buying Investment Property and financial planning. Here’s how you make money:
- Growth in the value of the property
- Rental income and profits
- Tax Advantages
- Growing Your Property Portfolio