Next Generation Financial Strategies

Superannuation and personal insurance are not top of many people's priority list but planning for your financial future and protecting your and your family's lifestyle against injury, illness or death are things that deserve your attention

Mission
To help people make smart choices about their money so that they can reach their financial goals and objectives.

Description
Superannuation

Whether you are in your first job after leaving school or only a few years from retirement, it pays to understand how superannuation works. By the time you are ready to retire, your superannuation could have grown to be one of the largest assets you will have in your life. This is your investment in your future. It's important to understand why you need it, what you're entitled to, how you can contribute and how you can best manage the money for your retirement.

Personal Insurance

Life can often throw in a few curve balls. No one expects sudden death, accident or illness - but what if something did happen? How would you, your family or perhaps your business cope financially?

Life insurance provides you with the peace of mind that your interests will be protected after you're gone. At a time when emotions are running high, life insurance can provide the people you leave behind with financial certainty. The insurance proceeds could be used to pay for funeral costs, repay mortgages and other debts and provide an ongoing income.

In the event that you can't work again, total and permanent disability insurance makes sure your long term financial needs and goals are taken care of. The money can be used to pay your medical expenses, mortgages, personal debts and to make modifications to your home. The money may also enable your spouse to take time off work so that he/she can take care of you.

In the event you suffer a serious illness or injury like cancer, heart attack or paralysis, trauma insurance helps provide you with choices. The money could be used to pay your medical expenses and treatment costs and in some instances provide you with lifestyle choices - you could use it to pay off your debts, go on a holiday, or even to make a permanent lifestyle change such as reduced working hours.

Income protection insurance goes to work when you can't. It enables you to keep up with your every day living expenses if you are unable to work because of illness or injury. The monthly payment allows you to concentrate on your recovery and not on how you will pay the next bill.


Key Person Insurance and Business Succession Planning

A key person is someone who provides your business with significant economic gain. It could be a managing director who has an expertise specific to the business, a salesperson who is responsible for providing a large portion of business revenue or someone with specialised knowledge of machinery or business systems. How would your business cope if such a person was lost due to death or serious illness? A Key Person Protection Plan cannot prevent the loss of a key employee, but it can provide an injection of money to make it easier for the business to continue to operate as normally as possible during this difficult period.

For many business owners, a lot of their personal wealth is tied up in their business. Not having an exit strategy in place can create a stressful situation which can become even more problematic when there are two or more people involved in the ownership of the business.Often, the disposal of a business interest after an owner's death or disability is not clearly known or legally specified between owners. This can lead to enormous problems for the departing owner and/or their families and also for the remaining business owners.

A lot of these problems can be either eliminated or reduced with a good Business Succession Plan, incorporating appropriate levels of insurance.

General Advice Warning

This Facebook page contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.

Next Generation Financial Strategies Pty Ltd (ABN 32 164 246 860), Corporate Authorised Representative (CAR), number 389465, is authorised to provide financial services on behalf of Charter Financial Planning Limited (Charter Financial Planning).