Pathway to Wealth

Pathway to wealth

Are you looking to buy your first home or have recently purchased your first home?

When embarking on your journey through life, the task of managing your finances can seem daunting. You might receive advice on the importance of budgeting, consolidating your superannuation accounts, maintaining records for taxes, and securing various insurance policies. This plethora of information can quickly become overwhelming, leading many to procrastinate and push financial matters aside. Yet, with the proper support system and a solid structure in place, you can gain the confidence to seize control of your finances and steer them toward your life's aspirations.

Certain life goals, such as owning a home, realising your picture-perfect wedding, or affording your dream car, may seem out of reach unless you receive a significant financial gift from your family, a luxury that most Australians can’t rely on. Nevertheless, by creating a financial plan and implementing strategies like the first home super saver scheme, you can significantly reduce the time needed to save a deposit to buy your first home and reach your life's goals.

 Pathway to wealth, white piggy bank and cardboard home with house keys

By becoming financially organised early in life, you will be laying the foundations for a prosperous future, positioning you ahead of the curve by harnessing the power of compound interest. Implementing an investment plan in your youth and ensuring proper allocation of your superannuation funds could translate into a substantial difference, potentially amounting to hundreds of thousands of dollars extra in retirement. Time is your greatest ally when you're young, and when coupled with diversified investments that are leveraging compounding interest, it becomes a formidable asset.

Below is an illustration of two individuals who initiated an investment plan. One began investing with a smaller balance at an earlier stage in life, while the other allocated a larger sum to the plan but commenced ten years later. Despite investing for twice as long as the first individual and allocating four times the amount, the person who started ten years later still ended up with a smaller balance by the age of 60. For those interested, in this scenario, the second individual wouldn't surpass the first individual's balance until reaching the age of 76, with an additional investment of $160,000.

Call us today on (02) 4344 7114!

 

CFG WEALTH_FINAL Compound interest diagram website

 

How we will help you

WEALTH GRAPHIC Wealth Creation

Perfect Foundations

When embarking on your journey through life, managing your finances can seem daunting. By becoming financially organised early on, you lay the foundations for a prosperous future. This positions you ahead of the curve by harnessing the power of compound interest, ensuring long-term financial stability.

WEALTH GRAPHIC Pre Retirement

Countdown to Retirement

Many individuals face uncertainty about retirement and the transition process—When can I retire? Our goal is to play a pivotal role in providing clarity on when retirement is feasible, what kind of lifestyle you can afford, and how to plan effectively for a secure future.

WEALTH GRAPHIC Retirement

Retire in Style

Retirement marks a significant milestone in an individuals life, often celebrated with longtime work colleagues who have become close friends over the years. Our top priority is to help you navigate the complex rules and regulations that are applicable to superannuation and government pensions.