Maximum Wealth Strategies Services
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Wealth Creation | Superannuation | Self Managed Superannuation Funds | Risk Insurance | Redundancy Counseling and Advice | Retirement Planning | Centrelink Benefits & Strategies | Estate Planning | Mortgage Broking & Commercial Loans | Tax Returns | Direct Shares
Wealth Creation
We all need to save more. And we all have aspirations of being more in control of our finances. There are many alternative strategies to accumulating wealth, including savings plans, direct shares, taxation planning, debt reduction programs and gearing.
Each of the above strategies has merit but they do not suit everyone. The financial advisers at Maximum Wealth Strategies can help design a financial strategy to suit you, taking into consideration your needs and objectives, life stage and attitude to risk.
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
Superannuation
In the past, people in retirement could have expected that the pension and their accumulated savings might have been enough to see them through. But, with our population now living longer into retirement, there is greater pressure on people to begin looking at ways to make their funds last longer.
Superannuation provides one of the most tax effective vehicles for growing your retirement savings. There are a number of considerations to take into account when making decisions about your superannuation and this will depend on your individual situation.
- your age
- how long you have left in the workforce
- most superannuation contributions are required to be held in the fund until your earliest retirement age, which in most cases is age 55
- your current debt levels
- possible expenses after retirement (holidays, motor vehicles, etc)
- life expectancy
- your expectations of risk and return
Maximum Wealth Strategies advisers can assist you in developing a superannuation strategy that is tailored to your needs. To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
Self Managed Superannuation Funds
The financial advisers at Maximum Wealth Strategies specialise in providing advice in relation to self managed superannuation funds. Assistance can be provided in relation to investment strategy documentation, asset allocation and placement of investments including direct shares. In addition, the following aspects relating to self managed superannuation funds can be arranged through our affiliated accountancy services:
- preparation of trust deeds
- registration of ABN and TFN
- ongoing administration
- annual financial accounts
- audit
- lodgment of annual tax returns
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
Risk Insurance
Most people recognise the need to ensure their cars and homes, but often place little importance on their greatest asset - their lives. You have worked hard over the years to purchase your home, accumulate assets and attain the standard of living you are now accustomed to. It makes sense therefore to protect your lifestyle against those unexpected events which can adversely altar your circumstances.
A good financial plan, designed to build and preserve capital, is of little value if it does not provide financial protection in the event that your income ceases. You can insure against:
- Life Insurance
- total and permanent disability
- Income Protection
- trauma insurance
Achieved peace of mind in the knowledge that you and your family will have no reason to be financially disadvantaged. The advisers at Maximum Wealth Strategies can help determine the appropriate level of cover you need and regularly review your situation to ensure you are neither under nor over insured.
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60561627 or 02 60562229 or contact us.
Redundancy Counseling & Advice
Redundancy offers can be a complex issue at a time of anxiety and uncertainty. Aside from the emotional issues involved, it raises all kinds of financial concerns you may not have previously considered.
Some of the challenges you face at this time include:
- How will I make my finances last until I find new employment?
- Should I use my lump sum redundancy payment to finalise debts?
- Am I entitled to Centrelink benefits?
- How will I understand the tax implications?
- How will I make my funds last if I do not intend to return to the workforce?
The most appropriate approach depends entirely on your personal situation.
Maximum Wealth Strategies can clarify the special taxation treatment relating to a redundancy package whilst also providing knowledge covering Centrelink and associated issues.
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
Retirement Planning
The decisions you make today can make the difference between enjoying the lifestyle you desire in retirement or simply "getting by". Retirement is about enjoying the fruits of your working life. Making the most of your hard earned money whilst you are working will help to ensure that your lifestyle after retirement is the one you have always planned for.
Previously it has been common to assume that the government pension would be enough to provide us with an income in retirement. Now, with longer life expectancy, a declining birth rate and ageing population, today's focus has shifted to early preparation and planning. This will ensure that Australians can have enough funds to enjoy their years after leaving the workforce. There are a number of factors to consider when planning for retirement:
- How much will I need to live comfortably?
- How far away am I from retirement?
- Can I make additional contributions into superannuation?
- Can I make contributions on behalf of my spouse?
- Will I be eligible for tax deductions or rebates?
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
Centrelink benefits and strategies
Should you be seeking Centrelink support, Maximum Wealth Strategies can assist in reviewing your assets and income with a view to determining your eligibility for either a pension or allowance. There are numerous issues surrounding Centrelink benefits:
- At what age do I qualify for the aged pension?
- What assets are excluded from benefit calculations?
- How much income can I earn to still qualify for government support?
- How do I qualify for the benefit cards such as the Commonwealth Seniors Health Card?
- Are all retirement income products treated by Centrelink in the same fashion?
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
Estate Planning
Estate planning is about giving yourself proper control of your assets and ensuring that they go into the right hands at the right time after your death. If done correctly, it gives you the peace of mind of controlling the distribution of your wealth. Unfortunately, no one knows what the future holds and it is important that you plan your estate to ensure that the money and other wealth you have accumulated goes to the people you intended.
What is a will?
A Will is a document that allows you to choose who should benefit from your estate. It is important to ensure that the Will is correctly drafted and it should take into account any relevant estate planning strategies. Therefore, it is best to obtain help from a solicitor or other qualified person. Most assets can be included in your Will, however, there are a number of important exceptions. These include assets that are held as joint tenants, life insurance policies, superannuation benefits and assets of a discretionary trust. Appropriate measures need to be put in place to ensure these non-estate assets are dealt with.
Why do I need a Will?
Proper estate planning can maximise the amount that is passed to your chosen beneficiaries – and minimise how much goes to unintended creditors, other beneficiaries or even the ATO. To ensure that this happens in your case, it is important to carefully analyse your personal situation and have a valid Will drafted.
In most cases the provisions that you outline in your Will apply, unless you have not made sufficient arrangements for those people who are close to you. They may be able to make a claim on your estate even though it is against your wishes.
What if you don't have a Will?
If you die without a Will you are said to have died 'intestate'. Where this happens, you have left no lawful instructions as to how you wish your estate to be distributed. The laws in each State and Territory in Australia operate to determine who will inherit assets of the estate. The general rule is that the estate will pass to the next of kin of the deceased such as your spouse and/or children.
Will my estate be taxed?
Although death duties have ceased to exist in Australia, capital gains tax (CGT) can have a similar effect unless you plan carefully in advance. In simple terms CGT is payable when you dispose of an asset which has increased in value. Death does not necessarily trigger a CGT liability but the beneficiaries of the estate inherit any CGT liability attached to the asset. When the beneficiary eventually disposes of the asset, a CGT liability may arise. There are a number of strategies that can be used to minimise the impact of CGT and these should be included in your estate planning.
What is a Power of Attorney?
A power of attorney is a legal document appointing a person or organisation to act on your behalf. By appointing an attorney you give the attorney the authority to make decisions for you, sign documents and generally act in your best interests. For example your attorney could buy and sell shares for you, manage your finances and pay your bills.
There are two main forms of power of attorney - General and Enduring. The difference is simply that general powers of attorney are automatically cancelled (or 'revoked') if you become mentally incapacitated. Enduring powers of attorney remain in force if, for any reason, you are unable to make your own decisions.
In general, the authority your attorney has to act on your behalf is quite broad. You can limit their power by granting a limited power of attorney for a specific task. When you grant an enduring power of attorney, you can also specify that it only comes into effect if an illness or accident occurs that leaves you unable to make your own decisions. You can revoke your enduring power of attorney at any time.
What is Enduring Guardianship?
Where the enduring power of attorney allows someone to make financial decisions for you, an enduring guardian is allowed to make personal and lifestyle decisions for you. You can nominate what 'functions' your guardian can make decisions for you in the document.
One thing you may consider is to have a "back up" executor, attorney and guardian nominated (in each document as appropriate) to cover the event of your nominated person being unable to act for any reason.
What is a Testamentary Trust?
Another powerful estate planning tool is a testamentary trust. A testamentary trust can best be thought of as a trust that you create to look after some or all of your estate after your death. The testamentary trust is established by your will. If correctly written it can reduce the amount of tax that your beneficiaries will pay on income earned from the estate. In particular, it will reduce the impact of the penalty tax that children under the age of 18 pay on unearned income.
It can also protect beneficiaries from the possible loss of inherited assets through divorce or bankruptcy. Estate planning is a vital element in successful financial planning. The advisers at Maximum Wealth Strategies work with clients and a qualified solicitor to ensure that appropriate estate planning measures are in place.
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
Mortgage Broking & Commercial Loans
Borrowing for a new home or investment property? Maybe you would like to borrow against the equity in your home to invest in shares or managed funds? Or you might just be looking for a better deal than the loan you have now.
When looking for finance, either a Home Loan, Business Loan or Hire Purchase the choices seem endless and it could take hours of your valuable time researching the best deals around. Maximum Wealth Strategies can provide you with a Mortgage Broking Service that does all this work for you.
Our state of the art software system is updated weekly and compares offers from over 40 different lenders to find the best deal for you. We act as your agent and not as an agent of any bank or finance company. This means that we will source the loan that is best for you and not what is best for the lender.
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact Maximum Wealth Strategies.
Tax Returns
Tax strategies are just as important as the investment strategies adopted in wealth creation. The after tax return on your investments will determine your available cash flow for lifestyle, living expenses and your ability to further participate in wealth building strategies. Tax structuring is very important and plays a major role in your investment strategy. Through our affiliated accountancy services your annual personal and business tax returns can be incorporated in our overall service package.
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
Direct Shares
Maximum Wealth Strategies provides a complete direct share trading service for listed securities on the Australian Stock Exchange (ASX). Maximum Wealth Strategies can provide advice on existing or new share portfolio’s both inside and outside superannuation.
To find out more, or to make an appointment, simply call Maximum Wealth Strategies on 02 60562229 or contact us.
