If something were to happen to your vehicle, it would probably be covered by your car insurance and if you were to require any medical treatment it would probably be included in your health cover but there are many people whose assets and income are under-insured and some people haven’t taken out any cover to protect their wealth.

Financial Planning

Full-time earnings in Australia averaged A$69,992 a year in the first quarter of 2012 (Seasonally adjusted wages – Bureau of Statistics.)

So, assuming that you earn the “average wage”, this means you will bring a total of $3,149,640 in wages into to your household over your working life (age 20-65) and that’s assuming you never get a pay rise!

As part of our dedication to providing you a full financial service, 1st Street has access to a dedicated financial planning team to take care of financial aspects such as insurance, superannuation, and wealth protection.

Insurance*

If something were to happen to your vehicle, it would probably be covered by your car insurance and if you were to require any medical treatment it would probably be included in your health cover but there are many people whose assets and income are under-insured and some people haven’t taken out any cover to protect their wealth.

Having adequate personal insurance gives you the peace of mind that if something was to happen which impacted your ability to earn an income, then the lifestyles of those who depend upon you would still continue as normal financially. Our Risk Advisor will be able to assist you with finding the right level of cover to adequately protect your income, assets and wealth. Please contact 1st Street if you would like to arrange for an obligation-free meeting.

SMSF (Self Managed Super Fund)

Self-managed super funds (SMSFs) provide you with another option on how to save for your retirement. SMSFs aren’t for everyone as they’re more complex to manage and you should speak with a financial planner within 1st Street’s networks before deciding to set one up. Setting up an SMSF is a major financial decision and you need time and financial skills to manage it. If you set up an SMSF you become a trustee of the fund. This means you’ll be responsible for managing your SMSF according to its trust deed and the laws and rules that apply to SMSFs. The key principle is that you run your SMSF for the sole purpose of providing retirement benefits to fund members. Your investments must be separate from the personal and business affairs of fund members, including yourself.

This information is of general nature only and is not intended as a personal advice. It does not take into account your particular investment objectives, financial situation and needs. Before making a financial decision you should assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. We recommend you consult a professional financial adviser who will assist you.

*Our insurance services are provided by an in-house 1st Street Risk Advisor who is licensed as an authorised representative of Risk Advice Specialists Pty Ltd AFSL 412709. All other financial planning services are provided by our referral network of financial planners. Referral planners are licensed as authorised representatives of Fitzpatricks Dealer Group Pty Ltd AFSL 247429.

1st Street Pty Ltd | ABN: 29 101 256 348 | Credit Representative Number 490057 is authorised under Australian Credit Licence number: 389328