The Five Investments to Make in Your 30s

Lori Phillips Financial Planner

When it comes to investing, you’re never too young or too naïve to start building your wealth. The younger you begin to make wise decisions about your money, the greater your chances are of enjoying a more secured financial future. But if you don’t know where exactly to begin, here are five investments that you should start making in your 30s: 

  • Before you get money out, build a solid emergency fund first.

 If you don’t have one yet, this is the best time to open an emergency fund account that’s at least three to six months’ worth of living expenses. This will give you a buffer as you start building your investment portfolio, especially since it will take months or years before you start to enjoy the returns of your investments. An emergency fund will also keep your finances intact, and you can gradually increase your contributions as your income grows. 

  • Go for real estate.

 Any experienced investor will tell you to choose real estate as your first investment—and for a good reason. While other forms of investments are easily affected by a volatile economy, real estate keeps on increasing in value over time. Properties are also not as expensive as you think. Click here to find out more about your options for properties or visit bloomdale.com.au to browse through different types of real estate.

 Try your hand at index funds.

 If bigger investment funds are still overwhelming you, it’s best to start with index funds that are a lot cheaper, easy to manage and beat managed funds in the long run. 

  • Take risks with stocks.

 You’re young and far from retirement, so this is the best time to take some risks to diversify your portfolio. Stocks like ETFs and mutual funds are great startup investments because you don’t have to be a marketing master to understand them. Plus, they’re not as complicated to manage as more serious stock investments. You can then move on to safer investment options like bonds as you grow older. 

  • Invest in your retirement.

You already know about a retirement fund or superannuation where at least 9.5% of your salary will be deposited. This percentage is set to increase to 12% in 2025, and it helps Australians secure their retirement by building their super fund. 

But if you want to be more secure with your future after you stop working, it’s also very important to start investing in your retirement fund where you can put a specific amount from your monthly income into an account that you won’t touch until you retire. This should be different from your savings account, and it will serve as your extra money to enjoy the things that you want without touching your super fund.

Of course, while you invest, you also need to get rid of existing debt and stay debt-free as much as you can. Take care of repayments at an early age so you don’t have to worry about them in the future when you’re older and nearing retirement.  

 

Why Do I Need Financial Education?

Loren Morrison Financial Planner

Have you thought about talking to a financial planner Sydney when you have money concerns? Does financial education matter? You know about money; you know how to pay your bills and manage things fairly well, but that doesn’t mean you’re financially smart! Unfortunately, financial education isn’t something most people think about – and you probably don’t either – but, it’s an important part of your life. So, do you really need financial education and if so, why? Click here!

Understanding the Pitfalls of Negative Credit

Do you know how your lifestyle can impact your finances? Do you know the risks of getting into debt and having bad credit? Unfortunately, it happens more often than you think and it’s easily done too! With financial education you can actually understand how to manage your money better, but also, understand the potential pitfalls of ruining your credit. Financial education can even allow you to get a better understanding of using money in everyday life. It’s so important to undertake some education over your finances.

Learning How to Save For the Unplanned Disasters in Life

How much do you earn in a week? How much are you able to put away into savings per months? You probably manage to put away something, and it probably goes towards a deposit for a house. Most people put any extra money they have into saving for a deposit – which is smart – but, what about the unexpected disasters? If there’s no money for life’s unexpected dramas, like broken televisions or vehicles, you face a financial headache. That’s why financial education is so crucial because it teaches you about saving for the things you never think of. You could talk to a financial planner Sydney to help you understand your finances better. For more details, visit: https://www.investopedia.com/articles/investing/100615/why-financial-literacy-and-education-so-important.asp

Room to Improve

You’re smart. You understand how to manage your money and are able to put some savings away; however, does that mean to say you don’t need any financial education? Well, no it doesn’t. How so? Well, while you’re able to manage your money, there is always room for improvement. How well do you manage your money? To be honest, improving your financial knowledge can be a smart idea and certainly something you have to consider. Yes, your lifestyle isn’t overly lavish, but that doesn’t mean to say you can’t still improve along the way.

Financial Freedom

You’re not interested in financial education when you’re young, but what happens when you’re a bit older? In a way, we all have to rely on our finances from time-to-time and when we do, it sends us into a panic. However, if you actually have some knowledge of finances and have proper education over the subject, you can keep your head and take control of the situation. Yes, you think you know enough to handle any financial problem that comes your way, but that’s not always the case. Education is necessary. Why not talk to a financial planner Sydney if you want to find out more about your finances and make some changes.

Tips for a Successful Beauty Business Start-Up

Lori Phillips Uncategorized

Thinking of dipping your toes into the beauty industry and getting a huge slice out of that profit pie? With the right mindset and lots of research, starting a beauty business is not as hard as you think. Here are some tips to set yourself on the right foot.

Is it for you?

Ask yourself if you have what it takes to run a beauty business. Are you qualified? Do you have the right training? How about experience? More importantly, do you have a vision? According to Sigourney Cantelo, editor and founder of beauty website Beauticate, she created Beauticate to empower women. That vision alone allowed her to come up with amazing ideas that lift and educate women to look their best and feel incredible all the time. If you think you are ready in all these aspects, then it’s time to take the next step.

Permits

Starting a business requires permits. You need to acquire documents from the government in your locality, whether you’re running it from home or in a rented space in a mall. Start by asking what you need to submit and ready your papers in advance. Ask about fees and prepare those, too. Having all the information you need allows for quick and smooth processing time. To get you started, you can check out the Australian Government guide in finding licences and permits for your business type online.

Location

One of the most vital aspects to consider when running a business is the location. If you are planning to rent a space and set up there, picking the right location should be a priority. When looking for one, consider your target market. Is an expensive space in the mall a good idea? Or can a low-cost, vibrant downtown setting pull an ample amount of foot traffic? Picking a good vicinity for a beauty business may take a while, but once you’ve chosen the right one, your visibility will start to grow–along with your sales.

Finances

Startup funds can come from your savings, investors, or even business grants. Whatever source of capital you choose, proper handling of funds is crucial, especially during the first few months of operation. Keep track of expenditures and monitor your sales. Your earnings may be huge at certain times of the year, but once the low-season approaches, you are likely to experience a dip in sales. When this happens, it’s best to think of money-saving techniques, such as turning off salon appliances when nobody is around or cutting down on product purchases during the off-peak season.

Marketing

Keeping up with the latest beauty trends is a great way for your business to grow. If you think hair trends are getting the buzz lately, come up with hair treatment packages for your clients. If certain make-up trends are coming back, then incorporate them into your make-up services. You don’t need to spend a lot on advertising as well just as long as you get your message across successfully. Social media platforms are easy to manage. What’s better? They are free.

Running a beauty industry may sound hard, but if you know what you are doing, you’ll be able to pull it off smoothly. Let your passion, creativity, and vision pull you towards your dreams and take you to where you’d like your business to be.

Why You Should Consider Hiring a Financial Planner

Lori Phillips Financial Planner, LifeStyle

Have you thought about hiring a financial planner Sydney? To be honest, most people don’t consider a financial planner as they believe its money wasted. In a way, people are trying to be smarter in terms of how they spend money and don’t want to pay a financial planner to tell them how to handle their money. However, what you might not know is that financial planners play a crucial role for families and businesses alike. It can be a very smart idea to speak to a financial planner so that you can get your finances in order once again. So, why should you consider hiring a financial planner? Here are a few simple reasons why you should do so today.

You’re starting a New Project and Need to Create a Financial Target

You have a business and you’re in the game of property development, but do you know what budget you should work with? If you’re a business owner (no matter your trade) it can be so important to hire a professional financial planner. Why is that? You’re a business person, but you don’t always think like a business person (even if you’ve been in the game for three decades) and it’s hard to budget and plan your finances out well. However, a financial planner Sydney can help you determine how much you need for each new project and can help to achieve your targets as well.

Why You Should Consider Hiring a Financial Planner

You Want To Reach Financial Goals

Do you have any short-term financial goals? What about long-term goals? Let’s say you want to save money for a deposit for your first home, but weren’t sure how to go about it, wouldn’t it be wise to speak to a financial planner? A financial planner Sydney could help you create a system for you to reach your short-term financial goal. Also, if you wanted to put money aside for your retirement, they could also help create goals and a system for you to put money aside and save. That’s why there are far more people turning to financial planners than ever before. If you have any financial goals in mind, but aren’t sure how to reach them, speaking with a financial planner can be so useful.learn more about best financial planner at https://www.breadandmoney.com/steps-to-find-the-best-financial-planner/

Your Finances Are Poor

Let’s be honest, when you have poor finances and you haven’t really thought about your next move, it’s time to consult a professional. Financial planners can plan out your finances so that you can put money towards the necessaries in life such as food, rent and other such bills, but also help you learn to save. Remember, a financial planner Sydney can do far more than what they could before and it’s essential to use their services when they’re needed most. If your finances really are in a poor state and you don’t know how to fix the problem, it’s time to call into a financial planner’s office and get some help.click here to learn how to manage poor funds.

Financial Matters Are Confusing

A lot of people don’t want someone to lecture them when it comes to their finances, but it’s an essential step to take. Sometimes, you need a professional to give you a talking to so that you can see your finances in a better (and often clear) light. Yes, you might think it’s your money you can do whatever you want with it, but, if you’re trying to save or do something useful with your money, a planner can really help. Why not hire a financial planner Sydney and see what they can do for you today?

Steps To Find the Best Financial Planner

Lori Phillips Financial Planner

No-one wants to spend money on a financial planner Sydney, but it’s often a necessary part of work and home. Choosing a new planner is troublesome because you have so many options to consider and for the most part, you just want someone who knows what they’re doing. However, most people can’t be bothered with the idea of finding the planner and are happy to settle for anyone that looks half decent. While you could choose any financial planner, it’s not a smart solution because they may not help you as much as you hoped. So, what steps could you take to find the best financial planner? Here are a few of those steps.read more about financial planner Sydney at https://arctraining.edu.au/

Go Online To Find a Select Few Financial Planners

Firstly, go online and make a quick search for a financial planner. Now, there are lots of avenues to explore when it comes to financial planners, but the internet is one of the better locations to choose from. You can easily conduct a search online and you should be able to come up with a few good names. What is more, you can do a lot of simple checks online when you spot a planner you like. A financial planner Sydney can be researched online so that you can find out about their background or history within this field. Also, you can find reviews from previous customers and that may help you to decide if this is the planner for your financial needs.

Steps To Find the Best Financial Planner

Check Their Credentials

Next, you must take time to look at the type of credentials the planner has. Now, credentials aren’t always given much consideration, but that’s the wrong attitude to take because credentials tell you so much about the planner. A financial planner Sydney should have the highest of credentials so that you can be sure they’re the best professionals to deal with your finances. At the end of the day, you want someone who is locally accreted as well as federal accredited so take the time to look at the credential.

Always Ask the Financial Planner Sydney Questions

When you have found a financial planner Sydney you really believe is the right one for you, it’s time to sit down with them and ask them a few choice questions. Now, most people don’t want to do this, but it’s essential, otherwise, you might never find the right planner for your needs. You have to sit down with the planner and before you hire them, ask them a few questions you feel is necessary to make a judgement on them whether they’re suitable for you at this time. If you feel the planner isn’t for you, you could always come back to them one day, but for the moment, go in search of another and again, you’d do the same thing until you’re satisfied with the planner.click here to learn more on choosing financial planner.

Find the Right Financial Planner

Financial planners do a lot for everyday people as well as business owners, and finding one that’s able to help no matter the situation is essential. Of course, it’s easy to say any planner will be good enough, but that’s not always the case. There are some financial planners that have far more knowledge and experience than others, and that also has to be taken into account. You cannot rush into this decision; you must take the time to explore all options before you discount any planner. Hopefully, you’ll find the best financial planner Sydney.

Is Your Financial Planner Working For You?

Lori Phillips Business, Financial Planner, LifeStyle

You’ve done the hard part and hired a financial planner Sydney, but, are they working for you? A lot of people think the hard work’s done just because they’ve hired the financial planner when in reality, it work’s just beginning. Financial planning can be so useful for families and businesses alike – when it goes right – but there are some who find after so long, things aren’t as rosy as they thought it would be. So, is your financial planner working for you and how can you tell if it’s time to make a change?

Are You Spending More Than Saving?

A lot of people go to a financial planner to sort out their finances and help reduce spending. Businesses and families go to financial planners to help with such things, as money is extremely tight for both families and companies. However, have you thought that after all the planner is done, you’re actually spending more? If that’s the case (and your circumstances haven’t changed in any way) it might be time to look elsewhere. A financial planner Sydney should be able to create financial goals for you and help you work towards them; if after a year nothing has changed, you have to consider changing planners.click here learn how to reach at your financial goals.

Financial Planner Working

Have You Reached Your Financial Goals?

Let’s say you went to a financial planner Sydney to help with your retirement and they helped you create a retirement fund and they promised to help with the investing side, have they fulfilled their promises? As said, planners can help with a variety of financial matters, but if they specifically said they were going to help with one aspect and they failed to do so, you know they’re not working for you. It’s essential to review your work with the financial planner and ensure you are still on the same page. If you feel their work has become sloppy or it’s harder to keep in contact with them, it might be time to look for another financial planner.

Are You Happy With Their Level of Service

Personally, do you feel enough has been done to keep your custom? Do you feel happy with the level of service provided by the financial planner Sydney? Do you feel there has been something lacking recently? You need to carefully think about your interaction with the planner over the past few months and see if you’re still happy with them. If you aren’t happy, then you need to discuss this with your planner and hopefully, things can be rectified. However, if you’re happy then you know you probably don’t need to move services. Again, it’s going to come down to whether or not you feel you’re getting value for money.read more about financial advisors at https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm

Review Your Services Regularly

Financial planners do a lot of hard work, but, sometimes, they can become too lax and that spells disaster for your finances. However, by regularly reviewing the level of service received from the planner, you might be able to keep the relationship strong. If you ever feel the service is falling behind par, talk to them, and hopefully they can fix things. If you have to change, find the best financial planner Sydney.