5 Tips For A Whole-Of-Life Financial Plan

by Steve Nicholas, Financial Adviser

Here at Stratus, we are committed to helping you make the most of what you have. To this end, we tailor whole-of-life financial planning advice for singles, couples and families based on five key elements you need to consider in order to create a rewarding and financially healthy lifestyle.

1. Cash flow

There’s no doubt that the ability to spend less than you earn is the key to accumulating wealth.  However there are various ways to approach the allocation of your funds so that they produce the long term results you’re looking for.  At Stratus we assess your capacity to save and help you prepare a plan which allocates regular portions of your available income to investments, paying off your existing debt and spending on yourself. Only then do we consider the best areas to invest your surplus cash, which may be to further reduce your debt or contribute to something like an education fund. By starting out small and building up over time, the end financial results can be extremely gratifying.

2. Debt

We can help you set up debt structures that are appropriate for your personal situation. And as circumstances change throughout your life, we can review your debt structures with the aim of minimising the impact on your overall wealth accumulation goals.

3. Estate Planning

It’s never too early to start planning for the future. This includes preparation of a Will that reflects your current circumstances and wishes, and if required, the implementation of a Power of Attorney. Effective Estate Planning allows your assets to accumulate in a tax effective and protected environment, and determines that your assets are dealt with appropriately when it’s time for them to be distributed.

4. Successful Superannuation

One of the easiest and most effective ways to build wealth is through superannuation. We’ll help you decide upon the superannuation structure that’s appropriate for your needs and how to plan your contributions – how much and how often. We’ll help you trace ‘lost’ funds and consider your options for consolidation. And we’ll explain the benefits as well as any disadvantages of holding insurances within and outside your super account.

5. Life and Income Protection Insurance

Premature death or disablement can seriously impact upon your plans and your family. We can help you protect your family’s future by advising you on personal insurances such as life insurance, income protection and trauma and permanent disablement (TPD). In our recommendations to you, we focus on finding an insurer that matches your individual requirements. And if you’re concerned about affordability, we can help you structure your insurances to suit your cash flow.


To find out more wealth accumulation strategyies, view or download my Strategy Paper on Accumulating Wealth, or please contact me at Stratus on (07) 3007 2007 to find out how you can implement a personal wealth accumulation plan.

Stratus Financial Group and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. This information is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Stratus Financial Group strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.

Taxation outcomes are illustrative only. Always confirm your tax position with a registered tax agent.