Independent Wealth Partners in Melbourne, Victoria, Australia | Financial planner

Independent Wealth Partners

Locality: Melbourne, Victoria, Australia

Phone: +61 3 8393 9371

Address: 3/530 Collins St 3000 Melbourne, VIC, Australia

Website: http://www.independentwealthpartners.com.au/

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• Financial planner

25.01.2022 When a partner passes away, the grief can be overwhelming. We've certainly seen our clients go through this process and it's tough. If there are financial burdens (most families have them), the stress can be even greater. It can make an emotional period in your life incredibly difficult to manage. With our knowledge of what it's like to lose a partner, we know the steps you can take to make sure you reduce the financial stress if the worst happens. One of those is to make sur...e you have the right estate plan in place. It not only plans out how your wealth needs to transition to those financially dependent on you, it also identifies where there might be insurance gaps. An effective estate plan will consider: The need to support blended families Putting the right guardians in place for children Creating income streams where required Paying out the right debts Managing powers of attorney roles We always recommend working with an estate planning specialist. We work with that specialist to make sure all of your wealth is considered - even those assets not covered by your Will, eg. superannuation. Get in touch with us and we can help you make the right plans #IWP #InvestingTips #ParkvilleMelbourne

23.01.2022 Getting feedback from our clients is truly priceless. We can think we're doing a great job, but in the end, our clients will tell us if that's true or not. Ian was kind enough to give us the following review:... "Experienced and practical advice and management has helped us achieve all our objectives and retire two years earlier than planned, with confidence. Cameron is a much trusted professional adviser who we highly recommend. He is fun and personable when making us think about, not just our financial objectives, but also our aspirations and dreams. He is also very patient and diligent in explaining things. We could not be happier." We love that last line Ian, it truly warms our heart to know how you feel. Financial empowerment is such a great thing. Our role is a fortunate one, as we take care of one of the most important aspects of someone's life. Financial wellbeing can be a key driver of a persons happiness. We love knowing that helping a client move to a position of knowledge, control and confidence with their money, means we've done our job well. If you'd like to know more about what we do and how we might be able to help you, book a free call with us bit.ly/IWP_Book_A_Call #IWP #InvestingTips #ParkvilleMelbourne

20.01.2022 Making plans today for future major investments is a great example of Warren's famous quote. One great example is putting together a plan for your children's education. Sending your kids to private schools can be an expensive affair. A stressful one too if you don't have excess cashflow or funds to draw on - not everyone does by the way. Therefore, a little planning needs to go into place so you can have the right outcome when you need it.... Which is why getting financial advice when you're young, can mean you reap the rewards later on. You get to talk about your goals and aspirations for the future, which could be things like: Having children Travelling more Retiring early These are all goals you can start planning for now. A financial roadmap is very personal. It's YOUR dreams and aspirations only. Make sure you get one in place, so you can sit under that metaphorical tree later in life #investing101 #investingtips #iwp

18.01.2022 If you speak to most advisers, they'll have a client story or two of when they presented a life-changing insurance claim check to a grateful client. It's often a moment tinged with sadness, but also pride that they could be part of protecting the financial wellbeing of their client. We're no different. We not only help you grow your wealth, we're always focused on helping you protect it too. So how much insurance cover do you really need?... Well, how long is a piece of string? As with most things in life, every client is different. However, we ask the same sort of questions of each of our clients when we're discussing insurance needs: What household income do you have and who earns it? If you pass away, what debt needs to be paid off? Have you considered the cost of medical bills? Do you have funds set aside for funeral costs? What if you were disabled and couldn't work? These are just some of the questions we cover, however they begin to highlight the possibilities that you need to consider. Our clients feel much more secure when they know they have the right cover in place. Reach out if you need to review your wealth protection strategy #IWP #InvestingTips #ParkvilleMelbourne

17.01.2022 Passwords are usually the bane of our lives. We have so many to contend with these days - online banking, smartphones, computers, internet accounts...the list is endless. So it can be rather tempting to use the one password for everything. Or even better, Betty1978 - the dog's name and the year you were born. However, you might encounter some problems if you keep your password security that simple. Here's why:... Compromised passwords are responsible for 81% of hacking-related breaches The average person reuses each password 14 times And as 48% of workers use the same passwords in both their personal and work accounts, it's pretty easy for hackers to gain access to a lot of your things. Hackers read these statistics too. So what can you do? The simplest solution is to use a software password tool, which enables you to create computer generated passwords that are highly secure. They then store them securely and you can access your passwords via your phone or desktop to login to your accounts. When your financial security is on the line, it's important to take hacking seriously Source: idagent.com #investing101 #investingtips #iwp

16.01.2022 Have you thought about what it means to leave a legacy? For many of us, we think (and hope) that our estate gets passed on when we've lived a full and happy life and old age triggers our passing. Most of the time that does happen, but sometimes it doesn't and the timing is not what you ever planned. Do you think your estate is structured to be handed over to the right people, right now?... Passing on an inheritance isn't always about leaving family with 'extra' money. It might be at a time in life when they need assets passed to them in the right way - to pay off a mortgage, to fund school fees, to provide an income to a young family or just reduce financial stress. However, there are times in our life when we can put our estate plans in jeopardy, by separating or getting divorced. This is especially important to remember when young children are involved and need to be provided for. Some key reminders: Separation: could mean the wrong people are recipients Divorce: change Binding Death Nominations and insurance We discuss this at each review with our clients, to make sure your financial plans always stay in place. Reach out if you would like to know more about what we do #IWP #InvestingTips #ParkvilleMelbourne

12.01.2022 When you make the decision to retire, you're probably more focused on how much golf you might be playing and where your first road trip might take you. But we know it's about making sure we access all the right benefits, understand the income available, create the right structures and complete a lot of paperwork. On average you'll need approximately 18 years of income if you retire at age 65.... No matter what level of income you need, we think on that basis it's never too early to start saving for retirement. The more you get into super, reduce debt and create non-super investments, the more comfortable your retirement lifestyle could be. Here are some key steps we implement with clients: Make sure all your super is in the one place and you aren't paying more fees than you need to Take advantage of any government benefits that allow you to get more money into super (eg. co-contribution, downsizing benefit, non-concessional lump sums) Encourage extra super contributions where possible, as the compounding effect can be considerable We look at these strategies and many more, to help you maximise how your retirement might look. Reach out for a chat to find out more #IWP #InvestingTips #ParkvilleMelbourne

11.01.2022 We believe very strongly that financial advice should be conducted from a place without bias. In order to do that, as your financial advisors we have to remain independent no incentives, no conflicts of interest. Which is why our work is paid for by the fee you agree to before we start. We're different in our approach, but great advice still needs all the traditional elements and we offer that:... Tax planning Debt management Cashflow structuring Investment advice Superannuation advice Estate planning Whatever your needs, we use our knowledge of who you are and what drives you and we carefully craft together all the elements of traditional advice. Each piece has its place, and each piece lays the foundation for another. The result is a unique culmination of who you are, what you want, and all your financial outcomes. We call this your financial roadmap. Ready to get your financial roadmap in place? Book a free call to find out more bit.ly/IWP_Book_A_Call #IWP #InvestingTips #MoneyMatters

09.01.2022 If you have a Millennial in your life, chances are they aren't the best at managing their finances (this is someone generally 24-39 years old). According to a recent study, there are some key issues Millennials have with their financial situation: Have inadequate financial knowledge... Aren’t happy with their current financial situation Worry about student loans 81% have at least one long-term debt Nearly 30% of Millennials are overdrawing on their savings accounts Are heavy users of services like payday loans, pawnshops and rent-to-own products Don’t seek professional financial help These are worrying characteristics, as they can lead to a lifetime of bad financial management and a poor relationship with money. The best thing a Millennial can do is seek some financial guidance. Whether it's financial coaching to improve spending habits and debt reduction programs, or to work with a financial adviser to develop a financial roadmap - getting the right help will provide them with the tools and education they need. Reach out to us if you would like to get on the right financial path *Source: pwc.com + The Global Financial Literacy Excellence Center (GFLEC) #investing101 #investingtips #iwp

05.01.2022 Do you think you have enough insurance in place? In 2015, Rice Warner found that only 42% of Australians have enough life insurance cover to provide the same standard of living for their families if they were to pass away. However, this was based on many Australians having access to cover within their superannuation. This has reduced dramatically over recent years due to new legislation forcing insurance cover to be cancelled in many super accounts.... So where does that leave you? Probably in need of a review. Chances are, if you can't remember what cover you have in place, you might be in the other 58%. We review our client's insurance needs every year in line with their overall strategy. This means they have certainty around the cover available to their family if death or illness were to impact their income. It just brings them peace of mind. If you need to have a review of your financial situation, then please get in touch with us to find out more about what we do *Source: Ricewarner.com #investing101 #investingtips #iwp

04.01.2022 "If your dreams don't scare you, they aren't big enough". This is the sort of advice Chris will give you and lives by himself. He's a big believer in not listening to those who say you 'shouldn't' or 'can't'. Which at times, could be your own doubting voice in your head. Creating trust with clients so that they're open to guidance, doesn't happen overnight. Transparency is a key part of what we do, to help deepen that trust. ... Chris has nailed that process with clients and it shows in the feedback he gets: "What stands out is Chris's commitment to ensuring that our financial strategies and personal goals are aligned and met." "I’ve never written a review but Chris is certainly worth writing about...extremely professional, considered, and caring...and always has your interests and goals as paramount." "He made it easy for me to follow and understand and I would recommend him and IWP any day of the week. Thanks to Chris I'm not wasting my time or money." Chris never wants to look back at his time on earth and think - 'what if'. He doesn't want you to either. Book a call with Chris if you would like to explore working together to grow your wealth #IWP #InvestingTips #ParkvilleMelbourne

03.01.2022 When you head into retirement, you'll likely have a few lifestyle changes. One of those is often to make changes to where you live. We see some of our clients staying a while longer in the family home, some sell up and head off on long term travels and others downsize to a more manageable sized home, possibly in a new area. Have you thought of downsizing your home once you hit retirement?... There are also some benefits with downsizing that can flow onto your super balance. From 1 July 2018, if you are 65 years old or older and meet the eligibility requirements, you may be able to choose to make a downsizer contribution into your super of up to $300,000 from the proceeds of selling your home. The upside is that the downsizer contribution is not a non-concessional contribution and therefore will not count towards your contributions cap. For those with super balances greater than $1.6m, the downsizer contribution can still be made As well as reducing the time you need to garden and clean the house, you might well able to enhance your retirement strategy via this option. If you'd like to have a discussion about your situation, please get in touch *Source: ato.gov.au #investing101 #investingtips #iwp