As a family wealth creator you are similar to a wealth accumulator, however, you have more dependants.
You are also at the earlier stages of their financial journey and may be starting out or changing careers. Children bring a need to further protect assets and income and understanding insurance is crucial to ensuring the future of your family. In addition to insurance, the fundamentals of investing and understanding the way different assets work is vital. Increased savings and utilising cashflow efficiently are keys to covering future expenses such education funding and future gifting wishes. Tax efficiency is also important and building family assets tax efficiently is a priority.
Questions you may ask yourself at this life stage.
- Can I afford my Home Loan?
- Do I have Estate Plans in Place?
- Is my Family Protected?
- What is Super?
- Do I need to protect my lifestyle?
- How do I build my wealth?
- How can I pay down my debt sooner?
- How can I improve my tax position?
