Mid Career
Between the ages of 30 to 45, you will want to protect your young family's Wealth and be able to cover your commitments
We offer a wide range of Financial Planning Services, where our aim is to cater for all of your needs under the one roof for convenience and ease of management. Based on your financial analysis, we will work with you to formulate an appropriate strategy that will satisfy the goals and objectives identified. We see this as an integrated process, and, with input from both parties, recommendations will be presented and alternatives discussed before implementing the final strategy.
Wealth Creation, Gearing and Tax Strategies
We specialise in providing the highest quality advice to individuals at all stages of their working and retired lives. We believe it is never too early or too late to seek financial advice. We tailor our advice and as such, we do not use a set ‘template’. We ensure that each client receives the most appropriate advice, which enables you to achieve your stated lifestyle and financial goals.
We continually work with you in a very hands on manner, making sure we meet face to face every six months. This ensures that should any significant life events occur, we can revise your plans and goals to suit, keeping you focused on trying to achieve "to live the life you want".
Do I Need Insurance?
Well, let's have a think about the statistics...
On average;
- there is 1 death in Australia every 3 minutes and 36 seconds.
- 1 in 3 women and 1 in 4 men are diagnosed with a malignant cancer in their lifetime.
- Over 1,600 people die on Australian roads - every year. Most are aged 26-59.
- Cardiovascular disease is Australia's number 1 killer - claiming nearly 50,000 lives per year, representing 34% of all deaths. In fact, 2 out of 3 Australian families are affected by heart disease.
Life Insurance
Life Insurance cover provides financial protection to those that you care for the most. Should the worst happen, it pays a lump sum benefit to your loved one. Still, many Australian's don't take out insurance protection because of some common misconceptions.
- "I have enough savings" - 60% of families with dependents will run out of money within 1 year if the main bread winner dies.
- "My Life Cover in my default super fund will suffice" - Life cover inside super often only represents 20% of the cover required.
- "It doesn't matter, I'm not the main income earner" - Child care and home duties such as cleaning, cooking and driving the children to their extra curricular activities, has seen a stay-at-home spouse to have an estimated worth of more than $75,000 per year.
Some more statistics for you...
- 2.6 million Australians aged under 65 are living with a physical disability.
- Australians suffer 60,000 strokes every year. That is 1 stroke every 10 minutes.
- 88% of stroke survivors live at home, and most have a disability.
- Over 1 million Australians need assistance with core activities, such as communication, transport and self care due to severe disability.
Temporary and Permanent Disability Insurance (TPD)
Let's count the years until your retirement. Now, multiply this by how much you earn. In the event of permanent disability, this is the amount of money that you need, and could no longer provide for your family. Yet, many Australians don't take out Temporary and Permanent Disability Insurance (TPD) protection because of some misconceptions.
- "I'll receive a disability pension from the government" - The disability pension only provides approximately 20% of the average Australian wage.
- "My TPD Cover in my default super fund will suffice" - Insurance cover inside super often represents only 20% of the cover required.
Australians are suffering an increasing incidence of cancer. In addition, we're continuing to experience high levels of heart disease and stroke. Advances made in medical science mean that we now have a greater chance of surviving these conditions, but treatment can be drawn out and expensive, forcing patients to take months or even years off work.
- In 2012, 122,093 new cases of cancer were diagnosed in Australia. In 2016, this has grown to an estimated 130,466.
- More than 60% of cancer patients will survive more than 5 years after diagnosis.
- 2 out of 3 people who suffer their first stroke will be alive one year later.
- 88% of stroke survivors live at home; most with a disability.
Still, many Australians don't take out Trauma and Critical Illness Cover because of some of the following misconceptions:
- "My private health insurance will cover me" - The average household cost of cancer is $47,000. Whilst your health insurance helps with medical treatments and some hospital expenses, it does not cover some specialist therapies, ongoing treatment needs or the immediate care that is often required.
- "I have Total and Permanent Disability (TPD) Cover" - Nowadays, serious illness does not necessarily result in total and permanent disability, which means that you cannot claim your TPD cover. Advancements in medical science means that it is now possible for patients to recover their original lifestyles.
Trauma and Critical Illness Cover
The financial costs can be significant to you or your loved one suffering a serious illness, which is why Trauma and Critical Illness Cover is vital.
Without an income, mounting debts can cause additional, unwanted stress. How long could you afford to cover your expenses, without completely draining any savings safety net?
The financial costs can be significant to you or your loved one suffering a serious illness, which is why Trauma and Critical Illness Cover is vital.
Without an income, mounting debts can cause additional, unwanted stress. How long could you afford to cover your expenses, without completely draining any savings safety net?
- 2.6 million Australians under the age of 65 are living with a physical disability.
- 1 in 3 Australians will be diagnosed with cancer before they are 75.
- More than 60% of Australians will be disabled for 1 month of their working life, or more.
- More than 25% of Australians will be disabled for more thank 3 months of their working life.
Income Protection
Income Protection will compensate you for up to 75% of your wage for any time taken off work due to sickness or injury. And yet, many Australians don't take out income protection insurance because of some common misconceptions:
- "I'll be covered under Workers Compensation" - Workers Compensation is very limited. It only applies if you are injured during work hours or for illness relating directly to your employment. If you're self-employed, you may not even have this cover.
- "I can't afford it" - Ask yourself if you can afford not to have it. Income Protection premiums are generally tax deductable and can cost less than a cup of coffee per day.
Are you and your family adequately covered if something unfortunate was to happen to you or your partner?
At ARA, we can undertake a review of your situation to determine whether you are under or over insured and then advise on the most appropriate and tax effective structure as well as providing quotes and recommendations on products that are both superior within the industry, and, the most cost effective.
Risk Insurance
Risk Insurance can be any of the following:
- Investments
- Shares
- Managed Funds
- Property
Would you like to watch your money grow? ARA have a specialised team who can assist in all types of investments whilst ensuring that the investments are suited to your goals and objectives to help you achieve the best outcome for you and your family's future.
Specialising in advising clients in relation to Australian Taxes on many high level tax issues to ensure that transactions are carried out in a tax effective manner, ensuring that all relevant concessions contained in the Tax Law are accessed...
Are you looking for finance for your first home, an investment property or perhaps a better rate/package for your current home loan? We can help you...
We can undertake a review of your situation to determine whether you are under or over insured and then advise on the most appropriate and tax effective structuring...
We tailor our advice to each individual. We do not use a set "template", so that we ensure each client receives the most appropriate advice is given to them to enable them to achieve their stated lifestyle and financial goals...
Is your family secure financially should something happen to you? Do you have a Will or Financial or Medical Power of Attorney prepared? Who would be responsible for your children’s upbringing ...
We can undertake a review of your situation to determine whether you are under or over insured and then advise on the most appropriate and tax effective structuring...
When determining an appropriate structure for your business, it is important to consider all relevant factors. Many structures that are used may provide short term benefits, but may not be effective in the long term...
It is important to consider not only the tax implication, but also the conditions which are being placed on you as an acquirer or a vendor of your business...
ARA has always been a fee for service provider. Unlike other firms, our investment advice is not limited to managed funds. Our advice is tailored to your needs of...
Integration with Tax and Financial Planning.
“As we are an integrated Chartered Accounting and Financial Planning firm, we understand both sides of the equation and, compared to a general Accounting Firm, can assist you with a much more holistic approach to your structure,” says Arthur Roe.
2016 Securitor Victorian Practice of the Year
Being the 2016 Securitor Victorian Financial Planning Practice of the Year and the 2009 Victorian and National and Planners of the year
Focus on life Stages
Whether you are 18 or 80, we can set in place the right procedures to get you financially organised. Many of our clients have been with us for over 15 years and are continually referring family and friends as the way we work is quite unique, compared to most other firms” says Arthur Roe.
ARA Financial Planning Services Pty Ltd is a Corporate Authorised Representative (No. 1277898) of Capstone Financial Planning Pty Ltd. ABN 24 093 733 969.
Australian Financial Services Licence (AFSL) No.223135.
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DISCLAIMER: The information contained in this site is intended to be a guide only. ARA Financial Planning Services expressly disclaim any and all liability to any person, relying on part or whole of the contents of this site. Do not act on the information contained on this site without first obtaining specific advice regarding your particular circumstances from our professionals.