Tagged ‘Sutherland Shire‘

Wealth Creation for Sutherland Shire Residents

wealth creation for Sutherland Shire residents

Wealth creation for Sutherland Shire residents is essential to our families’ power to move to get ahead financially. It is more and more grounded in ability, technology, and knowledge. It is about understanding what to do and financial planning. Just like any other activities folks embark on, regrettably, most people will probably fall short at wealth creation with out planning and mentoring.

Mentoring Wealth Creation For Sutherland Shire Residents

Wealth creation is a learnable skill which is where I come in. I’m able to become your mentor as well as your go to guy for finance in the Sutherland Shire.

It’s never a question of good luck, but it needs determination, expertise, patience and trust.

When looking at investing, many first time investors want to dive in with both feet. Unfortunately, only a few of those investors are flourishing. Investing in anything requires some degree of skill. You should understand that few assets are a sure thing – there is a risk of losing your money!

Before you jump right in, it is better not only to find out more about investing and how it all works, but also to pinpoint what your goals are. What do you wish to achieve using your investments? Will you be financing a university education? Purchasing an investment property? Retiring? Before you start to invest a single dollar, really think about what you wish to accomplish using that investment. Understanding what your main goal is will let you make better investment selections as you go along!

Wealth Creation For Sutherland Shire Residents

Sutherland Shire Tax and Estate Planning

Sutherland Shire tax and estate planningWith over twenty years of experience in serving the residents of Sydney’s Cronulla Sutherland area, we help you gather all the bits of the accountancy in order to make a whole picture.

Sutherland Shire Tax And Estate Planning Specialist

It is essential to comply with tax regulations but tax planners make sure that you get the most tax benefits and allow for the growth and development of both your business and personal wealth.

Deal with Tax Planning specialists. We have your best interests at heart. Would you like Wealth From Equity’s aid in:

  • Reducing Capital Gains Tax liabilities when your business is sold?
  • Making sure you get the maximum CGT and GST relief when the family business is handed over?
  • Ensuring that you get the maximum Tax Relief at Retirement?
  • Making sure that you are not adversely affected by private company loans?
  • Legally reducing the annual Income Tax you need to pay?
  • Deciding whether or not to buy assets for the business in your personal capacity and then deciding whether or not to lease these back to the business.

Securing Your Future Through In Depth Tax Planning.

Just about every decision you make in business has repercussions on your tax bill. We are specialists at maximising tax relief legitimately, the restructuring of transactions and have prevented out clients paying lots of additional costs as a result. Whatever financial decisions you face – whether they are buying a car, having a loan refinanced or selling an asset, you should consult with us before making a final decision.

Work with us to create a legitimate tax reduction strategy and let us assist you in taking steps to ensure that you get to retain as much of your hard-earned salary as possible.

Contact me for any and all of your Sutherland Shire tax and estate planning needs.

If you are looking for ethical, innovative, proactive and constructive advice in matters relating to accounting, contac tme at Wealth From Equity. With my wealth of experience, I am able to give you the best tax advice. We are also able to efficiently prepare tax returns and enable the maximisation of legal deductions through the lodgement of your tax return. We do all this with the ultimate goal of gaining the best possible tax refunds.

If you have a small business, you can use our small business accounting services to assist you in defining your business needs. We will assist you in determining the best solution for your business accounting and tax planning for now and into the future. It is as easy as enquiring online or contacting us on 02 9523 9550 to get our assistance in solving you accounting or tax problems.

Estate Planning

Where do you want to be financially in ten years time? Have you thought about the future? Will you have enough to retire on? Generally you need four times your average salary to maintain your living conditions and that may only be to get by on depending on your future needs. You may have a high paid position now but once you retire then super or a pension will not be enough to replace your current earnings. Also you income will be fixed once you retire and you may want to travel or have special medical needs who knows.

I can show you to you how to build wealth using your current equity. Wealth comes from a number of sources and does not have to be through property investment, but I can show you the choices you can have.

Simple explanations to can get you started on the road to better wealth. I don’t have any large schemes that can get you a million dollars in property and even more debt at interest only. Don’t be fooled by these investment gurus who say they own millions worth of property yet in reality they own nothing, their banks do.

If you think your super will provide for you in the future think again. Approximately 70% of all super is tired up in equity (shares, etc). The average fund lost 40% of their net wealth during the Global Financial Crisis. There are better ways and a discussion with me costs nothing and could save you a fortune. Call me on 02 9523 9550 to get started today with our Sutherland Shire tax and estate planning service.


Seven Rules For Building Wealth In The Sutherland Shire

building wealth in the sutherland shireCreating a safe financial position and building wealth in the Sutherland Shire, requires a constant focus on a number of important rules that are set out below.

1.    Earn Well To Build Wealth.

You may be on a high salary but are you able to save or do you spend as much as you earn? Expensive holidays, schools and tuition for the children and expensive cars to keep up with the neighbours? Do  you know that you can never save sufficient money from your savings as poor interest from the banks and taxation will eat up any gains.

No one ever got rich from working hard, they got rich from making someone else work hard. By using your high income you can grow wealth in the Sutlerland Shire through a variety of investment options which every investor should know about.

Here’s the trick to building wealth in the Sutherland Shire, no one can give you the full picture because they are either restricted by the law or their speciality. Financial planners cannot advise on real estate or real estate agents cannot advise on financial planning. Also they all have their speciality and only work in their select fields.

2.    Focus More On Wealth Creation Not Saving.

Given good income, the largest single potential is to save well. Obviously, if you are spending everything, you earn, you are not building wealth.  The magic of time and compound interest is not widely appreciated. Did you know that the value of $10,000 invested with an annual average return of 10% for 50 years. The answer is a shocking $1,173,908. So saving a decent amount each year really does contribute to building wealth. But were do you earn 10% in a savings account and the taxation will take almost half of that.

Building wealth in the Sutherland Shire does not have to start big. Go to any investment seminar and you will find they work on borrowing large sums which gives them high commissions. For less than a $1,000 you can start building up a share portfolio or for $150,000 you can buy an property investment which will give good returns.

Investing starts with an attitude to risk. Are you willing to make the start but afraid you will lose everything. Unscrupulous advisers will tell you that you can have a million dollar portfolio  of investments but they don’t tell you that you may also have a million dollars in debt at interest only which you will have to find in ten years time when you achieve your returns.

3.    Building Wealth In The Sutherland Shire? Start A Budget.

Unless you are an accountant or financially gifted,  most people do not know where to start. But just the simple act of sitting down and looking at your income and expenses will show you where and when you can save. However sitting down with a trusted professional can save you time and money. If this person is a professional and properly qualified then you can be lead through the financial maze and come out with a tangible savings or investment goal.

The choice is yours.

Do you really want to save or invest?

4.    Avoid The Twin Temptations Of Fear And Greed.

One investor once said that the returns were to good to be true and it was. Returns can not be guaranteed. Do your home work and do not put all your eggs in the one basket. Ask yourself ‘What would happen if I lost the lot” would you be in trouble? Don be too greedy unless you can afford to lose the lot.

Remember the investor advisor is not putting his money in the investment but yours.

5.    Invest Wisely.

Know what you want to invest in not just to invest. Knowledge is power. Seek out information about the investment. There are lots of reputable advisors who will help. If you want to invest in shares then look to the Stock Exchange, banks, etc.
If you want to invest in real estate there are many real estate agents who have the information and will give you good advice.

Never make a decision off glossy brochures or the advice from your friend at the BBQ. If the person giving the advise is a registered professional he  or she has a legal and ethical responsibility. Also they are most likely a member of a professional association.

6.    Get Good Advice.

That’s where we come in! People reading thus far may feel daunted and ask who has the ability to recommend on what types of assets to buy and to construct a widely diversified portfolio of investments. My usual answer to help my customer to find a good financial planner. The big banks all provide access to financial planners and, there are also an increasing number of more or less ‘independent’ planners or advisers. Standards of professionalism are mainly developing, yet sadly there are still some deceitful or inexperienced people in the business.

In selecting an adviser we are very careful to inspect credentials and to develop the basis on which the adviser is being paid. It is not recommended that you have to pay up-front fees, and if somebody makes an offer like ‘free’ advice in return for placing your money into a fund with a large up-front fee (‘load’ is the technical term) you should disengage immediately.

The better advisers will ask for an explicit fee and announce any other basis of payment, like a portion of the yearly fee that you pay the fund manager of choice.

For those who don’t have the time or knowledge to create and maintain their own portfolio, there are professionals who are competent enough to do it for you. There are also associations that monitor the people, process, culture and skill of the investment teams.

So it is possible to select a professional manager that proposes diverse suggestions of investments fitted for your individual circumstances and preferences. You can also pick more than one investment manager, and relevant organizations will keep track of your records and the performance of the several funds.

There are even firms that specialize in choosing groups of investment teams, mixing teams with different styles. This minimizes the danger attached to the fact that even expert single manager will have the occasional bad year. This is diversification piled on variation, a very cautious strategy that appeals to some people.

7.    Have Fun.

The more you earn, the more you can save, expand your risks and don’t try to be very clever at picking individual investments or changes in market conviction. The rules so far may seem rather old-fashioned, even boring. The saving grace is that there is one last rule that will make the others bearable – have fun.

For many people, it makes sense to allocate a little proportion, say 10%, of their wealth to fun ventures.

One person might allocate all the fun money to buying art or trading pork belly futures on the futures exchange. A more cautions punter can spread his risks with a portfolio of Internet or Biotechnology stocks. Others may play the markets, buying low then selling high.

Whatever one’s choice is, the reasonable rule is to allot only money which you can afford to lose to such activities.

The overall message is easy. The person who is aiming to be rich:

  • Saves a lot from an early age.
  • Chooses a combination of investments that suit his or her age, lifestyle and attitude to risk and lets time and compound interest work its magic.

Of course if one has the time and expertise to play the markets, selecting winners, going with the booms, selling near the peak and purchasing it back after crash, correction or crumble, one might come out ahead. This game is fought with risk. However, it may be best left to the brave-hearted and those who have the financial means to be largely wiped out from time to time.

Punting with a small proportion of your portfolio will let you sleep soundly at night whilst enjoying plenty of healthy excitement during the day.

Call me on 02 9523 9550  to find out more about building wealth in the Sutherland Shire