AGE 25 – 55

Building and protecting your wealth

Why do I need to build and protect my wealth?

Determining direction when we start thinking of the future is not often clear. As we grow and develop emotionally from leaving the nest to forging our own destiny our finances have everything to do with our future. It is not, however, a priority. Getting married and having a family may be a priority. Housing, sheltering and feeding them is a financial necessity. Creating something for the future through superannuation or regular investing is often not something that is front and centre of mind. Instead, we work on developing our lives however that looks for each of us individually. At WRS we recognise that finance is not the central theme for our clients. Our role is to coach you through some of the pitfalls and help you make sound decisions for the future.

As we start off our first full time job allows us to actively contribute to society. We have a place in the community. The income you receive very soon becomes your life blood, supporting your life and lifestyle. At this time in your life, saving and protecting your income, through the right mix of savings vehicles and insurances is our starting point.

When talking about building and protecting your wealth we break it down into three steps:

Step One

One of the most common times to begin thinking about building or protecting your wealth comes with home ownership, whether it is saving a deposit for your first home or paying it off. At this point we look at getting your superannuation in check and using this to build wealth. This is also when you should be looking at protecting your income and family through the best quality estate planning and insurance options.

Step Two

Once you have bought your house, paid it down and have begun to build equity in your home you may want to use this equity. At Step Two it is time to map out the next round of investment strategies – do you want to invest in another property? Shares? WRS will help you determine what is most appropriate. This is also the time to revisit your insurances and estate planning and most importantly your retirement plan.

Step Three

You begin your retirement with the wealth and assets you have built up over your lifetime as you watch your financial plans and goals unfold the way you wanted them to.

Let WRS help you achieve your goals!

Take our ‘5 min Financial Health Check’ for a quick guide to your current financial condition