Principle 1: SAVING
This is the very first form of investing advice to secure your retirement. It is common to find that after paying bills, there is nearly no money left for savings or investment. The first 10% is for you to continue your current lifestyle for at least 3 months if there is an emergency. In this way, you do not need to sell the investments you are holding onto.
Principle 2: Don’t let your credit cards be the obstacles of reaching your financial goals
Statistical evidence shows that credit cards can harass a sound retirement plan, making people carry debt every month. Many people are paying considerably high interest rates for their credit cards every month! However, the real problem is not about credit cards, it is how people handle them. To tackle this problem, here are some solutions around Investing Advice:
- Keep all payments current.
- Pay off higher interest credit cards first.
- Get credit without annual fees.
- Buy items with the money that is already in your bank account.
It may seem to be hard, especially for the last point about Investing Advice. If you start to handle credit cards well, you could save money which you used to pay the credit card companies.
Principle 3: Find hidden money to boost your retirement savings
Mortgages are usually the biggest expense for everyone in their life, it is important to look for possible ways to save money. The situation depends on your financial profile and how long you are going to live in the property.
- Shop around before you go for any mortgage: ask for both the rate and the truth in the lending contract.
- Refinance a mortgage: keep a close eye on the refinance expenses. Make sure the payback is worth it.
Financial advisors at Wyse Wealth will help you to closely analyze your current financial investing advice profile and think of the best possible ways to achieve your retirement goals. Our team aims at providing our clients with professional, personalized and complete Investing Advice.
Pop in for a friendly chat, take away the information and make a decision after you’ve had time to think about things… Call 1300 850 902 today.
General Advice Warning
This information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.Please seek financial advice prior to acting on this information.