5 ways a financial adviser can help

Just as athletes look to their coaches for guidance, achieving your goals can be made easier with advice.

Money may not buy happiness. But a sense of control over your finances, and your future will.

You may even think you don’t have enough money to warrant financial advice, but you may benefit in more ways than you currently realise.

The thing is, when you work with a financial adviser, you have the opportunity to really make the most of any money you earn in your lifetime. And people who do are generally a lot wealthier and have more choice than those who don’t1.

1. Harnessing your income

The first step to building wealth is managing your income effectively—setting yourself up to be better off than you would be with a short-term money focus, making decisions from payday to payday.

A financial adviser can help you map out the right portion of income for day-to-day expenses and investing so you can start accumulating wealth.

2. Setting goals

At every stage of life, you’ll have options and sometimes it can be difficult knowing which way to turn. Whether to buy your first home, downsize in retirement, and everything in between.

A financial adviser will help you set goals and then share expertise to help you make the appropriate choices at the right time in your life. Like what to consider when you start a family or how to make the most of your super and transition to retirement when the time comes.

3. Investing

There’s so much choice when it comes to investments. Will you be better off with property, shares, an alternative asset like a hedge fund or a managed fund that allows you to invest in property indirectly? There’s so much to consider.

Your adviser will work to understand you and provide investment insights based on knowledge and experience.

4. Protecting what you’ve got

When it comes to working, earning, saving, spending and investing as you go, you want to make the most of all you have. So if your biggest asset is your ability to earn an income, you should protect it. And if you have debts and a family, you should take steps to protect your loved ones.

An adviser can show you how different types of insurance work and help put in place protection for you and your loved ones in case things don’t go according to plan.

5. Reassessing your needs

When you work with a financial adviser, you’ll develop a valuable relationship. One that will be integral to the decisions you make through the stages of your life—so you can become better off and build wealth over time.

The financial advice you receive will depend on your changing goals and needs. For example, when you start a family, your goals will be different to those you have as you approach retirement. And your adviser can help make sure you make the most of every opportunity to build and protect your wealth along the way.

You can change your future today

It’s never too early or too late to seek financial advice. And you don’t have to start with a lot of money to end up being wealthy. You just need to start heading towards wealth systematically―by putting a long-term plan into action now.

So first things first: find a financial adviser and have a chat to understand the process, the costs and risks involved in setting yourself on the road to wealth. Start gaining more control over your future, today.

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© AMP Life Limited. This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, AMP does not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.