February 2018

Welcome to the latest edition of our client newsletter! We've included a mix of articles designed to share our insights and experiences, we hope you enjoy reading them.

In this edition we discuss setting yourself up for a wealthy future and provide you with information on aged care strategies and explore the issue of life insurance and income protection for the self employed.

If you would like to discuss any of the issues raised in this newsletter, please don't hesitate to contact us.

We hope that everyone has a love-filled Valentines Day and in the meantime, we hope you enjoy the read.

Best regards Steve and Janet

Set yourself up for a wealthy future

The new year is a great time to revisit your goals and dreams for the future. If everyone around you is cracking on with their resolutions and you're still not sure what you should aim for, you might need to change your time frame. Most New Year's resolutions are things that can be achieved in a year, whether it's getting in to a consistent habit or reaching a particular end point. But there's one worthy goal that, while you can start working towards it now, is actually pitched way in to your future.

Retirees who are living the dream most likely didn't just win lotto. Chances are they took steps to build their wealth. Steps that, broadly speaking, you can emulate. And if you haven't thought about it, well, now's the time because the earlier you begin, the better.

It all starts with getting back to basics.

Budgeting
For budgeting to work, it needs to be sustainable. That generally means smaller cutbacks and sacrifices over a longer time Read more

What is your aged care funding strategy?

When it comes to planning for retirement few of us think beyond the opportunity to travel and do all those things we've been putting off until we have more time and fewer responsibilities. It's safe to say that moving into residential aged care is not on anyone's bucket list. But as the population ages, it's a possibility that few of us can ignore.

More than 3.6 million Australians, or 16 per cent of the population, are currently aged 65 and over.iThis is projected to grow to 22 per cent by 2061, or more than one in five.ii We're also living longer. The average Australian can expect to live into their 80siii, and many of us will live beyond 90.iv

That means more of us will need some form of aged care late in life. And as pressure grows on aged care service providers to cater for more people, the costs may rise.

What will you pay?
In recent years the government has tightened the rules around the calculation of means-tested fees for Read more

Life insurance and Income Protection for the self-employed

There are over two million self-employed Australians in the workforce today.i Running your own business can be rewarding in many ways. However, without the safety nets and security offered by larger corporations, it's important to consider financial protection as part of essential business planning.

When small business owners think about their insurance needs, they immediately think to put cover in place to protect their physical assets, such as cars, equipment and buildings. However, they often miss the most important asset in their business themselves and their key people.

People are the most important asset in any business. If a person is lost to a business due to death, sickness or disability it will have a significant impact. An event like this can lead to a drop in revenue, loss of clients and could even lead to the banks calling in any debts or liabilities.

Arrow Focus on Wealth

2 Thredbo Drive
Worongary Qld 4213
W www.focusonwealth.com.au
E janet@focusonwealth.com.au
P 07 5530 3500
Facebook /focusonwealth.com.au

Steve Culpitt is a Sub Authorised Representative ( AR 270473) of Arrow Focus on Wealth.
Arrow Focus on Wealth Pty Ltd is a Corporate Authorised Representative (CAR 270472) of GPS Wealth Ltd AFSL 254 544 Australian Credit Licence 254 544 ABN 17 005 482 726 General Advice Warning: This communication contains general advice only. The information has not been prepared to take into account your specific objectives, needs and financial situation. The information may not be appropriate to your individual needs and you should seek advice before making any decisions regarding any products or strategies mentioned in this communication.
Disclaimer: Whilst Arrow is of the view the contents of this article is based on information which is believed to be reliable, its accuracy and completeness are not guaranteed and no warranty of accuracy or reliability is given or implied and no responsibility for any loss or damage arising in any way for any representation, act or omission is accepted by Arrow or GPS Wealth Ltd or any officer, agent or employee of Arrow or GPS Wealth Ltd.