MISSED OPPORTUNITIES
Finding the path to your destiny early in your career can be challenging. Most people experience the dilemma of needing to make financial decisions, sometimes to their advantage and sometimes unknowingly to their disadvantage.
Generally, the fundamental determinant of your financial position is your earnings from work. Your choice of job and career development are essential factors in determining your future wealth, as is how well you manage your money.
On entering the workforce, most people take a decade or more to develop a financially sound perspective on their cash flow, savings, and acquisition of assets. Many opportunities to improve their circumstances during this time inadvertently fall by the wayside simply due to unawareness. There are exceptions to this, like the young lady who became a property millionaire (as in excess equity) at 23.
Your future wealth correlates directly to the decisions you make (or fail to make) every year in the workforce.
PLAN FOR THE FUTURE
You might feel too young to start planning for the financial future you want to have when you retire. However, time passes quickly, and sixty will come around in the blink of an eye, by which time you want to own at least one property and be debt-free with $1m plus invested in super, giving you the option to retire early or to work on for a few years.
Formal education covers much but not enough practical life skills. Financial education is taught arithmetically but fails in practicalities. The good thing is it is never too late to learn. The challenge is recognising the opportunities you want to develop rather than being stuck in a rut and mismanaging your future.
HELP IS AVAILABLE
Your employer has engaged SuperWiser to offer services to assist with things like developing your career, improving your financial education, examining your super and helping you understand how to acquire an asset beneficially.
To book a free financial awareness session, call 1800 467 467.
All meetings are private and confidential.
This document was prepared and issued by Super Simpler Pty Ltd (ABN 74 150 240 421) a privately-owned company operating as a Corporate Authorised Representative (CAR No. 468 201) of AXIS Financial Group Pty Ltd (ABN 21 092 889 579, AFSL 233 680). The information contained within it is not advice. It provides general information only and does not take into account your individual objectives, financial situation or needs. You should assess whether the information is appropriate for you and consider talking with your financial adviser before making an investment decision. Information in this publication, which is taken from sources other than Super Simpler, is believed to be accurate. However, subject to any contrary provision in any applicable law, neither Super Simpler, nor its employees and directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it.