approach
What sets net worth advice apart? It's inclusive.
Net worth advice focuses on more than just a few of your assets. Everything’s included.
Generally speaking, financial planners focus only on your investment and risk management needs. This may be good for your portfolio and insurance coverage but your net worth is so much more than just stocks, bonds and insurance policies.
It’s the big picture view of your life’s plan.
Net worth advice factors in everything that impacts upon your net worth. So it’s about you, your attitude towards money, your financial behaviours and all of your assets. It’s the big picture view of your life’s plan. It shows your goals for now and for the future. It’s about building a practical plan that helps you attain those goals, one after another.
Your attitude towards money and tolerance for debt are important considerations.
During your earning years, your monthly income generally determines your lifestyle. Though it’s quite amazing how lifestyle levels can differ amongst families at the same income level. Some people spend everything they earn and then some. Others are big savers. Some are investors, entrepreneurs or gamblers. Some of us are comfortable with debt while others are not. Some of us are astute money managers while others are the opposite.
You can see why your relationship with money and your financial behaviours have to be a part of your personal plan. Both will impact on your net worth and on your resulting lifestyle.
It’s about managing your income, behaviours and net worth so you can enjoy the lifestyle you want, both now and when you retire.
A sustainable lifestyle is simply a matter of striking the right balance between your income, your financial behaviours and your net worth.
Finding that balance point is within your reach. It’s how a fee-only Net Worth Advisor helps you develop complete control over your net worth and ultimately your lifestyle.
