Putting your family first

CRUNCHING THE NUMBERS: Putting wealth creation strategies in place early can help protect your family's finances into the future.
CRUNCHING THE NUMBERS: Putting wealth creation strategies in place early can help protect your family's finances into the future.

When it comes to safeguarding your family's financial future, it's important to plan. Central to that is having a financial planner who understands the evolving family needs through the various stages of life.

"People often mistakenly believe that financial advice is only for the wealthy," Andrew Robards, from Robards Wealth Management said. "But pretty much everyone can benefit from having a financial plan.

"Forewarned is forearmed and with the right advice early you can put in place strategies that will protect your family's wealth and well-being."

Paying attention to superannuation as early as possible in working life can generate major long-term rewards.

"Depending on individual circumstances, strategies involving salary sacrifice, spouse contributions and government co-contributions could further boost your super," Andrew said.

Buying an expensive house might seem like a good idea when interest rates a low, but any change can cause crippling stress on the family in the future.

"The bigger the mortgage the greater the risk of experiencing financial stress and of reaching retirement with a substantial home loan still hanging over your head," Andrew said. "Life is more enjoyable (and isn't that what it's really all about?) if your budget makes room for some good times now rather than saddling yourself with major debt that requires gratification to be constantly delayed."

The same thing goes with cars. "An enduring piece of wealth creation advice is to drive the cheapest car your ego will allow. New cars lose value faster than a moggie sheds hair, and prudent car buying can add hundreds of thousands of dollars to your future wealth."

Getting the mix right on insurance is another important consideration.

"Yes, insurance premiums can be expensive, but the consequences of inadequate insurance can be financially (and emotionally) devastating," Andew said. "Expert advice will help you decide on the most appropriate cover."

Robards Wealth Management is focused firmly on the family. A large percentage of staff are Andrew's direct family and enjoy working conditions to suit their own personal family situation.

"This includes provision for working from home, part time or casual hours to fit around family, extremely flexible leave arrangements to allow staff to enjoy extended holidays when required," practice manager Rebecca Wevers said.

"I personally have worked for Andrew for 16 years, and when the business was first established my youngest child was only two. I had the flexibility to be available for my children by working school hours, and often they came to work with me during the holidays and were welcomed by the entire team."

Based at Fletcher, but able to come to your home, Andrew and the team assist families financially and build a lasting, one-on-one relationship for the long term.

For more information, ring (02) 4941 6000, email info@opendoorfc.com.au or visit www.andrewrobards.com.au.

  • Andrew Robards is an Authorised Representative (no. 259591) and Robards Wealth Management Pty Ltd ABN 69 130 216 447 is a Corporate Authorised Representative (no.325120) of Boston Reed Pty Ltd ABN 89 091 004 885 AFSL 225738
  • Any information provided is general in nature and does not take into consideration your objectives, financial situation or needs. We recommend that you seek professional advice before acting on any information.