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image of a young couple sitting at a desk with their financial adviser reviewing proposed portfolio construction and potential outcomes shown on graphs and tables - investment portfolio diversification at work; reviewing some offered wealth management tips

Wealth management tips

Wealth management tips to optimise outcomes for your future…

The following wealth management tips will help you manage your financial well-being. The role of managers generally is to –

  • efficiently allocate financial resources
  • to optimise outcomes for the owners (and for users of those resources).

It is useful to start any management process with planning.  A wealth management plan is more likely to succeed if it is goal-oriented – and documented.  The process to get to the successful outcome will include –

  • evaluating current and available resources,
  • understanding the risk features of investments under consideration (and your own aversion to taking financial risk),
  • being clear as to the time horizon for the investment,
  • setting SMART(1) goals and then
  • monitoring the progress of the plan once implemented.

Ultimately, wealth management is a discipline.  It becomes an enjoyable disciple when you –

  • design a plan and execute it;
  • review the outcome periodically, revising where appropriate; and
  • celebrate successes along the way.

Some wealth management tips to consider, include the following strategies:-

  • working to a personal/ family budget – isolating personal costs from investment account and/ or business/ work-related costs;
  • increasing contributions to your superannuation fund (being mindful of relevant annual and other, ‘caps’);
  • salary packaging to take advantage of any Fringe Benefits Tax concessions available to you;
  • supporting a regular savings plan to achieve clearly-understood financial goals;
  • undertaking a debt recycling (reduction) strategy in a tax advantaged process;
  • insuring your wealth creation/ accumulated assets through adequate and appropriate life insurance products (again in a tax effective way); or
  • reviewing your Wills and other Estate Planning documentation/ needs?

Continuum Financial Planners as your advisers

The experienced advisers at Continuum Financial Planners Pty Ltd are available to advise you on any of the above matters. To read more about each of these financial activities, Search our website Library for the selected topic.  We have linked articles from our website Library, above.

Periodic reviews of progress – and of continuing relevance of your wealth management plan, ensure that the most satisfactory outcomes are achieved..

To arrange a review of your wealth management plan in an appointment with one of our experienced financial advisers –

(1) SMART is the acronym for: Specific, Measurable, Achievable, Realistic, and Time defined.

(This article was first published by us in June 2011.  It has occasionally been refreshed/ updated, most recently in January 2025.)