Wealth Creation
- Saving plans
- Margin lending (Gearing)
- Tax minimisation Strategies
- Personal portfolio administration service
- Self managed super funds (DIY Super)
Whether you are starting out, budgeting to save, looking to build wealth in a tax effective manner or trying to put your hard earned dollars to work in retirement, our financial advisers can help you every step of the way. TRON Financial Services is a member of the Association of Financial Advisers and Financial Planning Association.
Define your investment goals in a financial plan
The first step to successful investing is to be clear about your goals. It sounds simple, but you would be surprised how often investors set out on a path without properly defining what they want to achieve from their investments over the next 3, 5, or 10 years.
The nature of your investment goals can have an important impact on the types of investments you should make, and the proportion of your investments you should place in any particular investment type.
Download the TRON Budget Calculator (Excel required - 24kb)
Here are 3 steps to help you define your goals:
- How much do you have to save?
How much you have to invest is important to defining your goals. There is no use planning to save $500 a month, if after taking into account your living expenses you are only left with $200. Setting yourself realistic goals will help you stay motivated.
- What are you saving for?
Knowing how much you can afford to save each month, will help you work out how long it will take for you reach your goals. Are you saving for the long or short term? A weekend away or to fund your retirement?
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What is your time frame? Is it achievable?
Now you know what you’re saving for and how much you can afford to save, you can be realistic about how long it will take to achieve your goals. Having an action able time frame will help you to stay on track.For those of you focused on building wealth for the long term, you may be investing to provide for a young child’s education, or to build an investment portfolio which can take care of your financial needs in the long term. In these cases, the bulk of your portfolio should be skewed toward growth investments which have a high weighting to Australian and global shares. Alternatively, you may have shorter term needs such as saving to make a deposit on a home in a couple of years time, or you may need to generate income on your investments in the short term to meet day to day expenses. In these instances, at least part of your portfolio should be directed to more conservative investment types which are less likely to fall in value over the short term.
