What is involved?
A key criteria in many
financial plans is the reduction of debt. Most Australians want to have paid
off their home and to have established enough superannuation so that they are
not forced to sell the family home in order to retire.
However, for many people the
pressures of household expense and debt, or the impact of divorce or job loss
can interfere with these plans. LiveNow can assist in the creation of a plan to
reduce debt while increasing your investment holdings.
At LiveNow we are well
acquainted with the principles of establishing lines of credit to invest and
the associated tax efficiencies. In addition to incorporating these strategies,
we can work with you to help you manage your cashflow/budget comfortably while
at the same time reducing non-deductible debt.
Debt can work for you or it
can hold you back. What is debt doing to your financial situation? If interest
rates were to rise, how will that affect you? Do you need help in managing your
debt? Would you like to know how to repay your debt effectively? We can advise
you on how to manage and pay out debt for your eventual retirement.
"Through the implementation
of a cash flow analysis followed by a critique of both income and expenses by
the client and myself, I can easily establish a report for the client of where
their money is being spent and how much is being spent." Dahl Drew - Managing Director LiveNow
We often have a good grip of
how much money is coming into the family home as this very rarely changes. What does change though is the amount of
money leaving the family home via spending.
By simply analysing this expenditure and thus identifying a trend we can
then establish a plan to either reduce this spending and/or create a new
cashflow/budget for the client. Debt
reduction can then form a part of the clients long term plan as they will now
have the ability to utilise surplus funds for this purpose whereas before the
cashflow analyis, the debt cycle would have continued and debt reduction would
not succeed.
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