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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:
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.
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.
This article has been prepared by RSM Financial Services Australia Pty Ltd ABN 22 009 176 354, AFS Licence No. 238282.
As everyone's circumstances are different and this article doesn't take into account your personal situation, it is important that you consider the above in light of your financial situation, needs and objectives, and seek financial advice before implementing a strategy.
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