Financial Planning Financial Planning & Advice

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1 Financial Planning Financial Planning & Advice Your guide to how People s Choice Credit Union can help you plan for your future. 1

2 Creating wealth and planning for your future. Financial planning is about helping you plan for your future. It s more than just retirement planning, it s about creating wealth, then protecting that wealth. Having a sound financial plan can help you secure financial stability by meeting your current and future lifestyle needs. Our aim at People s Choice is to address all of your financial needs, taking into account your short, medium and long term goals. 2

3 How we can help Financial planning can help you identify, and plan to achieve, your financial goals so you can enjoy the lifestyle you want. A good financial plan will help you assess your current circumstances, identify your goals and priorities, and will recommend strategies and products to make your dream a reality. Financial Security/ Independence Being debt free Owning your own home Being prepared for the unexpected Building wealth Preparing for retirement 3

4 Life Events It s never too early or late to plan for the life you want. At each stage in life you are faced with new priorities and different financial resources, lifestyle needs and personal goals. When putting together your financial plan, it s important to understand and address goals and priorities unique to you. The adjacent table aims to demonstrate the different types of advice available to you and how they link to different life stages and events. You may be: People s Choice can help you: Starting Out Starting a job or business Buying a car Buying a home Planning an overseas trip Saving for a wedding Plan short-term and long-term financial goals Protect your income Manage your Superannuation Start your investment portfolio 4

5 Growing Maturing Retiring Establishing a career Getting married Starting a family Buying/renovating a home Buying an investment property Working less Planning to retire early Left with empty nest Planning to travel Renovating a house Saving for children and grandchildren Getting ready to retire Downsizing your home Selling a business Travelling Preparing inheritance for your children and grandchildren Arranging aged care for parents Grow your super and investments Establish saving goals Manage pay rises and bonus payments effectively Establish a strategy for borrowing to invest Adjust or build your investment portfolio Insure to protect your lifestyle, family and financial assets Consolidate superannuation Plan tax effective debt strategies Transition from work to retirement Maximise your super Build or adjust your investment portfolio Manage windfalls/ inheritances Save for children or grandchildren Insure to protect your lifestyle, family and financial assets Plan for desired retirement lifestyle Maximise income in retirement Plan wills and estate Access pensions and social security Establish investment strategies to provide retirement income Transition to aged care Note: We understand that everyone s situation is unique and may not be represented above. 5

6 Advice & Strategies A Guide to help you navigate your financial journey. While the financial planning process follows a standard set of steps, the recommendations made by our Financial Planners will be tailored to your individual circumstances. There are broad categories of Advice & Strategies, which we commonly assist clients with. Financial Strategies Setting up a budget Planning short-term and long-term financial goals Reducing and managing your debt Managing pay rises and bonus payments effectively Investing Strategy and investment options Investment products and management methods Investment risk assessment Borrowing to invest ( gearing ) potentially take advantage of tax savings Personal Insurances Personal insurance strategy considering the following options: Income Protection sickness, injury or accident Life Insurance death or terminal illness Trauma Insurance serious medical conditions Total and Permanent Disability Insurance permanent sickness, injury or accident Superannuation Retirement savings strategy Superfund performance review Self-managed super fund options Explore potential tax benefits and contributions Aged Care The financial options available, including introductory and ongoing fee structures Assistance in financial assessments The government entitlements that may be available Other Events Redundancy Appropriate management of your finances including your redundancy payment and impacts on any government entitlements. 6

7 The Financial Planning process The first consultation with one of our Financial Planners is complimentary and without obligation. Step 1: First Consultation You ll meet with one of our Financial Planners who will spend time getting to know you, your family, lifestyle needs, goals and personal circumstances. You can get to know our Financial Planners and get a feel for how they and the service could be of benefit to you. Before the meeting, we ll let you know what you ll need to bring along. Step 2: Developing strategies If you decide to proceed our Financial Planners will work with you to define and prioritise goals. They will then investigate strategies and construct a road map for you to achieve them. You will be presented with options and a personalised plan for your consideration. Step 3: Implementing your plan Once you are comfortable with your plan we will begin the journey to achieving your goals. Step 4: Ongoing review As time goes by your goals and priorities change also. Our Financial Planners offer a review service where we can review your plan and make required adjustments to ensure your strategies remain on track. To arrange an appointment with one of our Financial Planners call between 8.30am to 5.00pm (CST) Monday to Friday. 7

8 People s Choice Credit Union is one of Australia s largest credit unions. We offer: Home Loans Personal Loans Savings & Investments Credit & Debit Cards Transaction Accounts Insurance Financial Planning Superannuation Business Banking Internet, Phone & SMS Banking Smartphone Apps Contactless Payments Foreign Currency Fast Payments Call us on , visit any branch or peopleschoicecu.com.au Connect with us. The information in this brochure is not intended to constitute financial advice and does not take into consideration your personal objectives, financial situation or needs. For full details of the Financial Planning services we offer, please refer to our Financial Planning Financial Services Guide (FSG). Before deciding whether a financial product is appropriate for you, you should obtain and consider the Product Disclosure Statement for the product, and all other relevant documents, and consider obtaining financial advice. Contact us for a copy of our FSG or the PDS for any financial product we distribute or make available. People s Choice Credit Union, a trading name of Australian Central Credit Union Ltd ABN , acts under its own Australian Financial Services Licence and Australian Credit Licence In Western Australia, our Financial Planning services are provided through Financial Solutions Australasia Pty Ltd ABN AFSL , a wholly owned subsidiary of People s Choice. Financial Solutions is not an authorised deposit-taking institution and its obligations do not constitute deposits or liabilities of People s Choice and are not guaranteed or supported by People s Choice. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries. Android, Google Pay, and the Google Logo are trademarks of Google LLC. Samsung Pay is a trademark or registered trademark of Samsung Electronics Co., Ltd. 8 BRC V