Wealth accumulation

What are your wealth accumulation goals? Arguably one of the most important aspects of wealth accumulation and management is knowing what ‘you want to achieve’.

Since a low in 2002, Australians have been steadily increasing the amount of their households surplus income they allocate to savings. The trend also being supported by a substantial slowing in the average debt per person to 2% p.a. in 2013. The result is that Household Net Wealth in Australia is again climbing.

Like many Australians, you will have various reasons for wanting to accumulate wealth. Some of these may include:

  • purchasing a new or first home
  • future travel
  • increased passive (investment based) income
  • repayment of debt
  • lifestyle events (e.g. weddings or graduations)
  • education for your children or grand-children
  • early retirement
  • to support a disabled or disadvantage child or relative
  • home renovations
  • building a family legacy (estate benefit for your family)
  • philanthropy (gifts to charity)
  • a comfortable lifestyle in retirement

What is key to your success when accumulating wealth, is your understanding of what the purpose is for growing your wealth, how much you need to achieve each of these objectives and what the time frame is for each of these.

  • What’s the goal?
  • How much do you need?
  • When do you need it by?

Helping you make sense of the competing objectives and demands you have for you earned income and accumulated wealth is a key part of the RSM Wealth Creation Service. We aim to help you develop investment priorities and goals matched against a realistic timeline.

Your wealth management plan however, also needs to take into account your understanding of investment risk and how this may impact your investment decisions.

Personal Financial Advice Services is provided by RSM Financial Services Australia Pty Ltd (AFSL 238282)

Everyone’s circumstances are different and this website doesn’t take into account your personal circumstance, it is therefore important that you consider the above in light of your financial situation, needs and objects, and seek financial advice before implementing a strategy.

The Big 3 for Medical Practitioners – Interest, Tax and Superannuation

The Big 3 for Medical Practitioners: Interest, tax and superannuation

In the current environment of high inflation and increasing interest rates, there is no better time to review your costs.
Season 2 Episode 2: Building your personal wealth | talkBIG Podcast

Season 2 Episode 2: Building your personal wealth | talkBIG Podcast

In this episode of talkBIG, hosts Andrew, Young and Chris take on a topic many people want the answer to: "How do I get rich?"   
Top tips on building off-farm assets

Top tips on building off-farm assets

Farming is arguably one of the more volatile industries in the world.
Should you raise your prices to keep up with inflation?

Should you raise your prices to keep up with inflation?

I was in a retail store the other day and was surprised to see a notice taped to the counter. It said: “We are proud that we haven’t raised our prices, even in light of current events.”
Episode 9 - Entering into a relationship

Episode 9: Entering into a relationship | talkBIG Podcast

Join us as we talk prenups, postnups, your rights in a defacto relationship, and what to do in a separation to avoid spending money in court while protecting things like inheritances and determining who gets to keep the family pet! LISTEN NOW>
Superannuation Contributions and Separation

Superannuation Contributions and Separation

Superannuation could be an important vehicle for couples who have been through a financial separation. Despite frequent changes to its governing rules, superannuation remains, for most people, a tax-effective environment in which to save for retirement.
Managing the Big Wealth shift of inheritance

Inheritance: Managing the Big Wealth shift

More than $3.5 trillion dollars of inherited funds are expected to change hands within Australia during the next 20 years, with Australians enjoying one of the highest inheritance payout rates anywhere in the world.
Nine ways to manage investment risk

Nine ways to manage investment risk

There is hardly anything in life that doesn’t involve taking some risk – even getting out of bed in the morning! In the majority of investment structures, risk and return are related.
What can a good adviser do for me?

What can a good adviser do for me?

When I ask some people what my role as a financial adviser is, often the reply I receive is “you invest client’s funds in the share market”. In reality, this is only partly true.  
There’s more to financial planning than just investment

There’s more to financial planning than just investment

Financial planners are often the first port of call for people seeking advice on investing a lump sum of money. However, in terms of how an adviser adds value to a client’s circumstances, this is usually just the tip of the investment iceberg.
Preparing for Retirement? Here’s 10 Top Tips

Preparing for Retirement? Here’s 10 Top Tips

Looking forward to an enjoyable retirement? Here are our top 10 tips to make sure you’re on track.
Sequencing: A Risk You Need To Understand

Sequencing: A Risk You Need To Understand

As financial advisers, we talk to our clients a lot about risk, one key risk for a long-term financial plan is sequencing risk. But what is sequencing risk? Let’s start with an example…
The effect of the ‘market index’ on your investment portfolio

The effect of the ‘market index’ on your investment portfolio

Investors who pay attention to the finance segment of the daily news may be aware that in late July 2019 the Australian All Ordinaries Index finally returned to the height it enjoyed before the Global Financial Crisis (GFC), but in the ensuing two weeks it experienced some volatility, losing around 1.7% of its value.
Diversification – The Only Free Lunch in Investing

Diversification – The Only Free Lunch in Investing

When it comes to portfolio construction no single asset class will consistently outperform all other assets all the time.

Pages