Wealth Creation Services.

Wealth Creation Strategies

Many Australians aspire to build up their wealth for themselves, their families and to improve their future well-being. 

However, the method each person follows depends on a number of different factors, including their goals, their timeframe and their tolerance for risk. Here’s how each of those interwoven decisions affect how people approach wealth creation. 

• Goals – Everyone has a different idea about what they’d like out of life. For example, for some, the dream is to own a family home, while others would like a property portfolio. Your individual goal determines how much you need to save, how much you may need to invest and how long it will take to reach your dream. Your planner can help you work on these goals. 

• Timeframe – The amount of time each of us have to save and invest also affects how much wealth we can potentially build. For example, someone starting out their career as a police officer will have longer to put money away than someone who is about to retire. A planner can help people to tweak their strategies based on how long they have to hit their goals. 

• Risk tolerance – While there are no guarantees when it comes to investment, certain options are considered riskier than others. Generally, higher risk investment options are associated with higher rewards, but there’s also a greater chance the investor could lose money. On the other hand, more conservative options often attract lower returns, but the risk of losing money may be reduced. The amount of risk an investor takes on is often dictated by their age and investment goals. A planner can look more closely at an individual’s circumstances to see where they may fit on the risk spectrum.  

With that in mind, here are some of the ways people choose to go about building their wealth. Again, a planner can help to work out a tailored plan to fit your individual circumstances.