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Plan a Strategy with GNS Group for Benefit from Savings Plan


When it comes to long-term savings goals like you have kept a good chunk of money set aside for any emergency or special occasion, house deposit, there are plenty of savings options available that pay reasonable interest rates. Consult with one of the GNS Group financial advisers to create a plan of attack for you. – PowerPoint PPT presentation

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Title: Plan a Strategy with GNS Group for Benefit from Savings Plan

Plan a Strategy with GNS Group for Benefit from
Savings Plan
Many of us started off investing at a young age,
often through a Dollar mite Account at school.
  • These early lesson in savings and earning
    interest for the first time set the foundation
    for a life time of savings, interest and
    ultimately reward.

  • It doesnt really matter if you are saving
    for a new car, a holiday, a house, the kids
    education or retirement. We all need to save
    money for purposes that are important to us.
  • Thankfully, there are many different ways you
    can save.

  • Often the best approach becomes self-evident
    fairly quickly when you look at the purpose and
    time frame.
  • Goals such as a holiday or a car might be
    shorter term goals and as such, a regular savings
    plan into a bank account or term deposit might be
    a good starting point.
  • Thankfully there are many high interest
    internet savings accounts which give you
    flexibility with no minimum investment amount
    you can set up a regular direct debit to transfer
    some of your money (usually wages) into a high
    interest savings account. Whether its 50 per
    week or 50 a month, its just great to start

  • When it comes to longer term goals such as
    savings for a house deposit or setting aside
    money to fund the kids education, there are
    plenty of options available.

  • We always recommend talking to one of the GNS
    Group Financial Advisers to work out the best
    plan of attack for your situation, but some of
    the things you might consider include

  • Theres nothing wrong with high interest savings
    account like we mentioned earlier, or term
    deposits for that matter, but you can also
    consider, Managed funds, which allow you to
    invest into professionally invested portfolios,
    give you the benefit of diversification,
    customised investment allocation and consolidated
  • Investment bonds are a great option for those on
    the top marginal tax rate or saving for the kids
    education with a 10 year time frame to achieve a
    tax free return, they often have a role to play,

  • Investing into managed funds whilst a good
    strategy, can be further enhanced in some
    situations by the addition of a regular gearing
    facility. Borrowing to invest is not often front
    of mind for clients, but with the right timeframe
    and risk profile, can be a great way to enhance
    returns and can be tax effective as well.
  • When it comes to the kids school fees using an
    education scholarship fund is an option to
    consider. Our general concern with this type of
    savings plan is the lack of flexibility and
    application of funding at the time of withdrawal
    for education purposes. If you already have a
    home loan, it can be very effective to direct
    your savings plan into the home loan. Instead of
    earning interest, you will save interest!

  • You also will not see your savings account
    increasing, but your home loan diminishing. If
    you have a re-draw account then you will see this
    type of account increasing in value. This
    strategy also benefits you by not having to worry
    about the Tax Man. Because no interest is earned,
    you dont have to pay tax.
  • By way of example If your home loan interest
    rate is 5 and you have 10,000 in savings, this
    means you 500 less mortgage interest.

  • If you were to invest 10,000 and you earn a 5
    return you have made 500. However, the tax
    office will want a slice of this. Depending on
    your personal tax rate, you might see 100-250
    disappear in tax, so your real return may not be
    as great as simply paying off mortgage.
  • For more information on how you can benefit from
    a savings plan and which strategy is best for you
    and your goals, please speak to one of our
    Financial Advisers today.
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