Investing for your freedom!
When I say investing, I like to talk about investing outside of superannuation. Whilst superannuation is a great vehicle, it is subject to the whims of the government. For those of you that are still young, a big part of your wealth plan to achieving freedom will be about investing outside of your super. I am not sure about yourself but at 27 (at the time of writing), I don’t want to be waiting until I am at least 65 to access my super (as recommended by the Commission of Audit). I want to have the freedom to do what I want. As a result, for those of us who are younger (myself included), super is unable to help us meet all of our financial goals.
I speak about financial freedom being the ability to have choice. If you are 25 now and want financial freedom at 50-55, you are going to need wealth outside of super because you won’t be able to access super until 60 (currently), but more likely older.
One of the best ways to invest for your future is to invest a little bit a lot, starting as early as possible. By investing a little a lot, you can work an investment into your regular budget. Also, the earlier you start, the more you will have sooner thanks to compound interest (interest on interest). As you go on, you can adjust and hopefully improve your plan so that you can reach your goals earlier.
Not sure where to start? Speak to one of our professionals to help you on your way.
Owner of PCR Accounting & Advisory, Peter Marmara-Stewart is a top-tier accountant and financial advisor dedicated to helping clients reach their business goals and achieve financial freedom. Peter is highly regarded for his client-focused approach and entrepreneurial spirit, catering to a diverse range of professionals across a wide scope of industries all across the country. Peter’s expertise can help you plan effectively, set goals, maximise profits and protect your assets. Get in touch today on (03) 9847 7516.