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Meeting with your financial planner for the first time

Posted August 20, 2017 by MoneyLink

So, you’ve decided to take control of your financial future. Congratulations!

To maximise your first meeting with your financial planner, here are some of our suggestions so you can be completely prepared. While these steps will help to make the most of your initial meeting, they are by no means mandatory!

Your first meeting with professional financial planner will take about 90 minutes.

Being prepared

For this initial meeting, it’s ideal if you can compile the following documents, and take some time to do the budgeting exercise (number 7). Having said that, if you don’t have all the documents, and you’re keen to just get started, we encourage you to come and see us regardless. Your MoneyLink Financial Planner will work with whatever documentation you have.

1.Superannuation Fund Statements
2.Recent payslip
3.Your Tax File Number (TFN) and your driver’s licence / other form of ID
4.The previous year’s tax return (if you have it)
5.Current insurance policies (that are not included in your superannuation) – this might include life insurance, income protection, funeral insurance etc.
6.Current debt statements (home loans, credit cards and personal loans). What you owe, repayment amounts, and interest rates.
7.Personal living costs – read our blog.

Personal living costs
Bringing a summary of your living expenses to this meeting can really help you and your financial planner understand your income and expenditure. We’ve put together a budgeting worksheet that you can download. If you have time to do this exercise, it is really worthwhile, because it can help you easily see areas where you might be able to save. And, if you can save more, then it’s your Financial Planner’s job to help you decide what to do with that saved money – perhaps equip yourself for a more financially secure future by putting more in your superannuation. Or start a managed fund. Help you identify ways you can move faster towards a big life goal, like buying a home, starting a business, or retiring early.

The key to gaining control of your finances really comes down to knowing how you spend your money. A financial planner can also help you to understand insurance, so that if anything life-changing happens, you can protect yourself and your assets.

Find missing superannuation

If you think you may have any missing super, try to find it before your appointment.
You can log onto the ATO website or call the ATO on 02 6216 3444. They’ll require your tax file number but can locate any funds that are attached to your tax file number. If you find you have old super funds, consider consolidating them all together into one. A financial planner can actually organise this consolidation for you.

Looking forward to meeting you!

We’ll send you confirmation of your appointment and you’re welcome to contact us at any time beforehand if you have any questions, or just jot down a list of your questions and bring it with you. A list of our office locations is here.

We also recommend that you spend some time viewing our website or sign up to our Facebook page – these are packed with resources and information that might also help you to prepare. Otherwise, we look forward to meeting with you, and working together to help you reach your financial goals.

MoneyLink Financial Planning Pty Ltd is an Australian Financial Services Licence Holder. No:.247360

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