Contact us for a FREE consultation & assessment for the right strategy for protecting your wealth.

Protecting Your Wealth

It is so important when it comes to planning and protecting your wealth that you choose the right strategy for you. Your wealth is not anyone else’s dream, it’s yours, and developing the right plan aligned with your highest values and lifestyle goals is one of the most important tasks you will do in your life. You want your dream to become your reality as soon as possible, and with a detailed written plan, along with a solid strategy for protecting your wealth you are on your way to achieving that which is most important to you.

 

βœ… These next 2 sections are our top tips

Here are 3 of the best financially smart moves you can make for protecting your wealth.

πŸ’° 1. Investing with purpose.

Investing in appreciating assets that will in time, afford you a passive income from which you can live on, is the key to investing with purpose. Making sure your first investment is right for your current situation, and or making sure your existing investment strategy is catering for your future needs. This way you will embrace your future with confidence. It’s so important to have access to the right advice, the right strategy, product selection and financial know-how to help you reach your goals.

πŸ’° 2. Financial protection backed by financial know-how.

Strategic protection planning and preparing for the future you want, is all about understanding your options, as well as taking advantage of the potential tax benefits all the way along. There are ways to have tax effective cover with the right structures in place.

πŸ’° 3. Protection could litterally save your life

When it comes to protecting your wealth , YOU are just as important as your wealth. Your life, income protection and trauma insurance are there to protect you, your family and your assets and makes preparing for the ‘unexpected’, should it happen, a little easier. If the unforseen did in fact happen, cover for your short and long-term future needs is comforting. Also, having a cover called ‘preserve your assets’ plan, keeps you protected should an unexpected event become your reality.

 

Wealth Protection

Personal insurances are fairly common forms of protecting your wealth but when it comes to business owners there are a few factors that it is wise to plan for. Your business could collapse if some fundamental startegies are not in place.

 

4 Pillars of Wealth Protection

Personal Insurances – 4 Pillars of Protection

  • Life
  • Total & Permanent Disability (TPD)
  • Trauma
  • Income Protection Wealth strategies designed to protect an individual and their loved ones wealth and wellbeing should an unplanned illness or health event occur.
Protecting your wealth

Business Insurances – 4 Pillars of Protection

  • Buy/Sell Funding
  • Keyman
  • Loan Protection
  • Business Overheads Important strategies designed to protect an owner’s business assets, income, ownership and revenue.

Take for instance a Buy/Sell agreement between owners of the business. A buy/sell agreenment is a legally binding agreement between business owners that outlines what will happen should one of the owners of your business die unexpectedly. If there is not an agreement in place your business could be financially ruined over night.

Things to also be aware of are; who owns the policy, are these policies tax deductible and how exactly do they work? Getting advice on this and the following topics is a wise business protection decision.

Key man insurance cover is taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business. The keyperson could be an owner but can also be a manager of operations etc, that if they were unable to work for a period of time, someone else could be paid to cover their role.

Loan protection and business overheads are also insurances that can be considered valuable protection strategies. Loan protection covers debt payments on certain covered loans if the person insured loses their ability to pay due to a covered event. And Business Overheads protection pays a monthly benefit – to cover fixed business costs if the business owner suffers an illness or injury and is unable to work. This cover is generally for a maximum of one year.

Planning & protecting you and your wealth is what matters most, to you and your family and brings you and your family members great peace of mind.

If you would like our help or advice on protecting your wealth as well as, saving and planning for building long-term wealth, reach out to us anytime on PH: 08 7111 0022 or book a chat here

 

Arthur Panagis
Author, Founder, Wealth Coach and Financial Strategist

B.Bus (Accountant)
Grad Dip (Financial Planning)
Professional Certificate in Self Managed Super Funds
ASX Listed Equities Accreditation
Tax (financial) Advisor

 

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πŸ’ͺ We want to make the rest of your life the best of your life.

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– Head Office –
Suite 2, Level 1, 148 Greenhill Rd,
PARKSIDE SA 5063
Ph – 08 7111 0022
Email – info@fmgws.com.au

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