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A checklist for a healthy financial year

A year may not seem like a long time, but a lot can happen in 365 days. Since last February, you may have changed jobs, received a raise, gotten married or divorced, brought home a baby or had one of your kids move out of home.

 

 

A yearly financial checkup can ensure that your financial plans are in tune with your life. It doesn’t need to take long. You can do a big-picture review quickly and save follow-up tasks for later, start now if you have 15 or 30 minutes, or pin this list on your fridge or at the top of your to-do file to get 2019 off to a profitable start: 

  • Add up your assets, including your super and other investment and savings accounts, and your liabilities such as your mortgage or car loan. Can you access all those accounts easily? That is, do you know the account numbers for each and where the password is if you have online access?
  • Figure out whether your net worth (assets minus liabilities) is growing or shrinking. Ideally, your assets should be growing and your liabilities shrinking. If that’s not the case, figure out why. You may have a good reason, such as making a down payment for a house with a mortgage that increased your liabilities. But if the reason is not positive, decide whether you need to change anything to get those numbers heading in the right direction.
  • Review big changes in the last year that may affect your finances. For example, if you got a raise, consider directing some or all of it into your super or another investment. If you had a child, you may want to start saving for university or review your insurance to determine whether your coverage is still appropriate. Do you need to change beneficiary designations on any accounts?
  • Consider rebalancing your portfolio to make sure your investments continue to be aligned with your financial goals. Your asset allocation - the amount of your portfolio dedicated to shares, bonds and cash - should be diversified according to your goals, age and risk tolerance. The ups and downs of financial markets may put your allocations out of whack. Selling assets that have appreciated and reinvesting in those that have fallen in proportion to your overall portfolio can restore your desired allocation and reduce your vulnerability to a decline in a single asset class.
  • Take a look at your budget. Is your spending aligned with your income and your personal goals? If you don’t have a budget, create one. You don’t have to track every gold coin unless you want to, just be sure you capture the majority of your expenditures. If you want help, you could try out some popular budgeting apps.

Now, make a list of follow up tasks, and you're on your way.

 

Written by Robin Bowerman
Head of Corporate Affairs at Vanguard.
19th Feb 2019
Vanguardinvestments.com.au


Sam El Shammaa

Sam El Shammaa

Director/Financial Planner

For more than 20 years, Sam has been a financial planner helping individuals and families achieve their financial planning goals, by providing advice on Investment Planning; Insurance Planning; Tax Planning; Retirement Planning; and Estate Planning. Working with a network of highly skilled professionals in Sydney he is dedicated to providing high-quality advice and integrated wealth management solutions that simplify and enhance the quality of his clients' lives.

Sam established his own firm in 1997 and has overseen its steady development and growth. Attention to detail, good listening skills and great empathy are symbols of his appreciation by his clients. He has built long-term relationships with his growing client base and aims to provide excellent customer service.

Sam began his financial planning career in 1993 after completing a Bachelor of Science degree in 1991. Since this time he has accumulated many professional qualifications such as:

Sam has volunteered with the Cancer Council of NSW and can be seen almost every year volunteering or participating in the 7 bridges walk.

Away from the business, he enjoys spending weekends with his son. He is also a football (soccer) tragic and is a massive Chelsea FC fan.



George Pereira

George Pereira

Financial Planner

Having worked for national financial planning companies in the past, George has extensive experience in the provision of advice in risk insurance, investments and retirement planning and is focused on forming long-term relationships with his clients.

George has been awarded a Masters of Commerce (Financial Planning) and a Bachelor of Commerce through University of Western Sydney as well as having the Diploma of Financial Services (Financial Planning).


Jane Lim

Jane Lim

Financial Planner

Jane Lim is a friendly character with a bubbly personality. She has the unique ability of making complex information sound simple and easy to digest.

Jane entered the financial services industry in 2006, and worked with big blue-chip financial companies such as Count Financial Limited and AMP Financial Planning Pty Ltd.

She holds a Master's degree in Applied Finance through Macquarie University, and she is a member of the Million Dollar Round Table.

Being a self-confessed "tennis nut", Jane spends many weeknights in the tennis court, and is a frequent member of Sydney's Eastern Suburbs Tennis Competition.

Being a highly motivated professional, Jane is always eager to help her clients on a wide range of financial planning needs.

Paul Jayashekar

Paul Jayashekar

Financial Planner

Paul has been a financial planner for over 15 years helping individuals and families successfully achieve their financial planning goals. He is very focused on building successful long-term harmonious relationships with his clients.

He provides a holistic approach on various aspects of financial advice encompassing areas such as Investment Planning; Insurance Planning; Tax Planning; Retirement Planning and has extensive experience and knowledge in these fields.

Paul's professional qualifications are:

Away from his professional life, he enjoys spending his time with his family doing various activities such as coaching his son and taking him to games. He is a very avid sports fan and a cricket enthusiast.

Christian Tanadinata

Christian Tanadinata

Client Services Manager

Christian joined Capitalwise as Client Services Manager, with backgrounds in both customer service and administration.

Christian is passionate in providing excellent customer service by being attentive to client’s need as well as being able to circumnavigate challenges.

He holds a Master's degree in Commerce specialising in Marketing through the University of New South Wales.

Volunteering is one of his delights in life, where he had spent time being involved with the Centre for Volunteering, St Vincent de Paul's Society, and Sculpture by the Sea in a variety of positions.

In order to better serve you, please select the appropriate contact details for the department you are looking for below.

Department Phone Email
Financial Planning (02) 8599 0835 (Option 1) info@capitalwise.com.au
Accounting (02) 8599 0835 (Option 2) accounting@capitalwise.com.au
Conveyancing (02) 8599 0835 (Option 3) conveyancing@capitalwise.com.au