Living your best financial life in 2023
It’s that time of the year when we make new financial goals and promise to leave bad habits behind.
Whether it’s failing to stick to a budget, forgetting to review superannuation to make sure it is optimally invested or not taking the time to invest in our biggest asset - ourselves, the New Year is a great time to take stock and recommit to a positive financial future.
If you’re an FMD client, you’re part of a growing number of Australians who enjoy the peace of mind that comes with having advice. You’re already experiencing the benefits of having personal support from your adviser to make sure all aspects of your finances are on track, a plan is in place to guide you, and you have someone trusted to turn to when life changes.
Here are some other ways good financial advice can help you live your best life:
Learning about wealth building
Continuous learning is one of the best ways to keep an agile, active mind throughout life and achieving mastery in any area boosts self-esteem. People receiving advice report feeling gratified to learn more about investment markets, superannuation and financial management strategies from their adviser, which in turn enhances their own sense of financial competency.
Taking control of your finances
Most of us like to feel that we’re acting deliberately in all spheres of life. While nobody can stop property markets or share markets from experiencing downturns, people under advice consistently feel greater confidence to stick to their plan when faced with challenging markets. As a result, they make wiser long-term investment decisions that yield better returns over time.
Being on the same page as your partner
According to Relationships Australia, the management of finances and different financial goals is one of the biggest causes of arguments amongst couples. Seeing a financial adviser at key turning points in a relationship – before getting married, when starting a family or business and in the lead up to retirement, can go a long way to keeping couples on the same financial page.
Knowing you’re making the best financial decisions
A 2022 Finder survey of Australians who receive financial advice, found trust in their financial adviser was the main reason people sought and proceeded with advice. Trusting a qualified professional to help you analyse your personal situation and make the best financial decisions can be a great relief. After all, we outsource so many other important things to experts, our finances deserve no less.
Support when things take a turn for the worse
Great financial advice relationships are long term. Advisers support their clients through significant life milestones like starting a business, selling the family home, or planning for retirement, and we all know that you can’t just turn on a trusted relationship in a crisis. So being a trusted confidant in the hardest times, is one of the most rewarding parts of our work and we know it can help people cope with and overcome adversity.
Confidence and peace of mind
Multiple research studies show people that receive advice have greater confidence that they’re on track to have enough money to live the lifestyle they want in retirement, compared with those who are unadvised. A Fidelity International Report found 88% of Australians receiving advice believe it has given them greater peace of mind financially. While they also recognise the process builds and preserves wealth well in excess of the associated fees, it’s this peace of mind that is invaluable.
So, if you’re already an FMD client, enjoy the peace of mind that comes with living your best financial life in 2023 and know we’re here to support you.
If you’re not a client yet, consider the wide-ranging benefits an adviser can provide, get in touch for a first appointment, and make this the year you get on the road to health, wealth and happiness.
General advice disclaimer: This article has been prepared by FMD Financial and is intended to be a general overview of the subject matter. The information in this article is not intended to be comprehensive and should not be relied upon as such. In preparing this article we have not taken into account the individual objectives or circumstances of any person. Legal, financial and other professional advice should be sought prior to applying the information contained on this article to particular circumstances. FMD Financial, its officers and employees will not be liable for any loss or damage sustained by any person acting in reliance on the information contained on this article. FMD Group Pty Ltd ABN 99 103 115 591 trading as FMD Financial is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977. The FMD advisers are Authorised Representatives of FMD Advisory Services Pty Ltd AFSL 232977. Rev Invest Pty Ltd is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977.