There are many opportunities for professionals to structure and save tax effectively to build their wealth.
How insurance (Life/TPD/Trauma/Income Protection) can be used to protect the lifestyle and opportunities (eg. Education, providing for retirement) they would like to provide for their family and loved ones. Ideally, insurance if needed should have been taken out earlier as its cost increases as you get older unless you have locked into a LEVEL premium.
Questions to ask yourself in relation to insurance are:
- What would you do if you couldn’t work because of illness or injury?
- Could your family manage if you could not work?
- Could you maintain your lifestyle if something happened to you?
- If something happened to you, could your family maintain their lifestyle without you?
See our FAQs in relation to Superannuation and Self Managed Super Funds (SMSFs) at www.griffinaccountants.com.au/smsf4u. We can offer extremely competitive borrowing rates and flexible borrowing facilities when borrowing to buy a house or investment property or refinancing an existing loan.
If you would like more information, please Contact Us.