What does Wealth Creation actually mean?
Wealth creation can be thought of as growing your funds so you have something to show for the income earned during your working life.
Superannuation is one form of growing wealth for retirement purposes, but there are restrictions and limitations on what you can do with super. Therefore, growing wealth should also be considered independently from superannuation.
Life can be chaotic - what if I don’t have time to develop a strategy for wealth creation?
Having a plan in place, which is operating in the background to invest and grow funds does not need to be an all time consuming exercise. At JKLM Wealth Group we are able to advise and assist on the following types of investments:
Managed Funds
Shares/Exchange Traded Funds
Term Deposits and cash based investments
Annuities
Investment bonds
Alternative assets such as infrastructure based investments
How do I get started creating wealth for my future?
A budget is a key element of any wealth creation plan. Most people know what is coming into the bank account on a regular basis but having an in depth knowledge of what is going out in the form of expenses helps identify any surplus income which can be used for the purposes of growing wealth.
Investment properties are a common method in Australia that individuals use to accumulate wealth. As Financial Advisers we will never suggest a specific property to invest in but are well placed to guide you through the different areas you need to consider when investing into property as well as compare with alternatives available.
Sometimes clients come to us seeking advice on what to do with an inheritance they may have received and how to best invest these funds so they are well placed to make a return.
Market conditions can be often volatile and the role of a Financial Adviser is to help remove some of the emotional element of investing, ensuring you try and stick with the plan designed to achieve your wealth accumulation goals.