Before you retire it is important to build wealth. With wealth you then get security, and you can enjoy more options in your life with less risk.
Your best wealth-building plan will depend on many things: your age, life-stage, current income and life priorities. Whether you are an employee considering KiwiSaver, or a business owner wanting a second wealth building stream – there are strategies that suit your situation.
Some situations are complex. For example, we assist clients returning from overseas who are trying to plan for the future with assets that they have accumulated offshore, and the tax implications associated with their financial arrangements.
Your wealth-building will benefit from a clear financial plan. You will also benefit from a regular review to monitor your progress and to make adjustments, for example if investment or taxation rules change.
Your financial plan will:
Where are you now? Take stock of your unique situation.
Identify your immediate must-haves and risks. What do you want to achieve?
Map out how to reach financial independence. Consider scenarios and options. What could go wrong?
Keep you on track with action points and reviews.