Your 2018 Financial Checklist

 In Accounting & Business Advisory, Finance, Financial Planning, Insurance, Investment, Mortgage & Loans, News, SMSF

So the year is 2018. Being the intelligent and proactive person that you are, you find yourself reading about your finances. The thought is already in the back of your mind. It’s the first step. “Am I doing what is best for my finances?”. “What can I do this year to improve my financial position?”. “How can I unlock my wealth potential?”. And then you stumble upon this article, and it becomes a little clearer.

Reassessing your finances and financial commitments is a beneficial activity no matter what time of the year. Scheduling in the time once a month – for example – can provide positive reinforcement that you are on track to reach your financial objectives, or conversely provide an early indicator that things aren’t quite working out as planned. To make things a little easier, the team at MWL have prepared a checklist for your finances in 2018.

 

Financial Planning

□ Do you have a budget that helps reach your financial goals? For example, travelling, saving for a home, a car deposit, your children’s education, having enough money for your retirement.

□ Do you have a plan over the short, medium and long-term for your money?

□ Are your spending behaviours positive and not requiring you to live paycheck to paycheck?

If you answered no to any of these questions, organise a meeting with a MWL Financial Planner today.

 

Superannuation

□ Are you sure your superannuation to being used to its fullest potential?

□ Do you trust the investment choices that are currently being made on behalf of your superannuation?

□ Is your superannuation on track to meet your retirement expectations?

If you answered no to any of these questions, organise a meeting with a MWL Financial Planner today.

 

Insurance

□ Do you currently have adequate insurance to protect yourself, your family and your assets and liabilities?

□ In the case of death, a serious accident or illness, are you confident of an insurance payout?

□ Have you looked around to see if you can get a better deal on your insurance?

If you answered no to any of these questions, organise a meeting with an MWL Insurance Specialist today.

 

Lending and Finance

□ Are your current mortgage repayments manageable given your current financial situation?

□ Have you reviewed your mortgage within the last 12 months?

□ Have you compared mortgages from a range of financial institutions, even if you currently hold a mortgage?

If you answered no to any of these questions, organise a meeting with a MWL Lending Specialist today.

 

Accounting & Tax

□ Are you aware of your eligible tax deductions and expenses for the 2017/18 financial year?

□ Have you developed a financial plan that seeks to legally minimise tax obligations?

□ Do you accurately record and claim your taxes each year for a maximum claim?

If you answered no to any of these questions, organise a meeting with a MWL Accounting & Tax Specialist today.

 

 

Investment

□ Do you currently put aside money designed for investment and growing your future wealth and have access if required?

□ Is your investment portfolio consistently generating the returns you expect?

If you answered no to any of these questions, organise a meeting with an MWL Financial Planner today.

 

 

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