6 Keys To Your Wealth: Your Risk

Risk, protecting the downside!

Our motto at Preston Coe & Ring is “Living for today, saving for tomorrow and protecting in between.” The protecting in between is about managing some of the unmanageables (I know it isn’t a word).

An important part of any wealth plan is to minimise unnecessary risk. Usually the best and cheapest way to do this, is to look at your insurance. This ensures that you and your family can maintain its wealth and lifestyle.

Everybody insures their homes and car, however it is even more important to insure your family and income. Without your income, you won’t be able to afford many of the things that you have. If something major and unexpected happens, you may have some significant medical and other costs to cover. It doesn’t matter how old you are either. One of our clients, Stephen, got Lymphoma at the age of 29. Unfortunately, he didn’t have insurance and as a result, ended up with what might have been unnecessary debt.

Having appropriate insurance will help you manage and ensure that your family’s lifestyle and wealth plan are minimally impacted. It will also allow you the financial security to ensure that you can be available to support family members when they most need it.

How comfortable are you that if something happened, you would be able to financially cope with it? If you aren’t sure, the best thing you can do is seek out professional help.

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.