The Seven Deadly Sins of Personal Financial Planning

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The Seven Deadly Sinsof Personal Financial
Planning

• Presented by Matt Kallis
• Authorised Representative No. 283155

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The Seven Deadly Sins

• What are the impediments to financial
  independence?
• How do we overcome them?

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SIN 1 Not Having a Plan

• No-one plans to fail, they only fail to plan
• Identify your goal
• Follow a strategic plan
• Recognise the value of advice

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SIN 2 Not Reviewing your Plan

• Your plan is not static
• Changes to personal circumstances
• Changes to financial circumstances
• Changes to legislation
• Changes to financial markets
• Review maintains relevance

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SIN 3 Underinsurance

• Insurance is the safety net for your financial
  plan
• Consider the effect on your familys financial
  situation if you were to become ill,
  incapacitated or die
• Term Life, TPD, Income Protection, Trauma

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SIN 4 Underdiversification

• Never put all your eggs in one basket
• Relying on one asset class (property, shares)
  dramatically increases risk and can jeopardise
  long term plans
• Diversification among all asset classes decreases
  risk and volatility

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SIN 5 Misunderstanding super

• Super is not widely understood
• Primary retirement savings vehicle
• Harness the tax benefits
• Super choice and consolidation

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SIN 6 Financial myopia

• Short term focus disappointment
• Never chase returns
• Investing is a long term process
• Understand financial markets
• Time in the market, not market timing

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All Ordinaries 1935 2004
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SIN 7 Inactivity

• Call to action
• START TODAY!
• Easy starting point Everyone has superannuation,
  everyone needs insurance

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Summary

• SIN 1 Not having a plan
• SIN 2 Not reviewing your plan
• SIN 3 Underinsurance
• SIN 4 Underdiversification
• SIN 5 Misunderstanding super
• SIN 6 Financial myopia
• SIN 7 Inactivity

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Our Firm
Induction
Strategic Management
4People Genesys Wealth Advisers
Wealth Asset Protection
UK Pension Transfers
Investment
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Important Information

• This presentation has been prepared by Genesys
  Wealth Advisers Limited ABN 20 060 778 216,
  Australian Financial Services Licence Number
  232686 and principal member of the FPA. Any
  advice contained in this presentation is general
  advice only and does not take into consideration
  the participants personal circumstances. To
  avoid making a decision not appropriate to you
  the content should not be relied upon or act as a
  substitute for receiving financial advice
  suitable to your circumstances. Any reference to
  the participants actual circumstances is entirely
  coincidental. When considering a financial
  product please consider the Product Disclosure
  Statement. Genesys and its representatives
  receive fees and brokerage from the provision of
  financial advice or placement of financial
  products.