Starting Out

Have you recently started out in the workforce and would like to establish a plan early in order to get a great start in life? At Precision Wealth Management, we think it is very important to set yourself up early as the longer you have to work towards your goals, the greater chance you will have to achieve them. Generally, the most important things for those starting out are:

• Personal insurance – When you are just starting out in the workforce, it is likely that you will have many years of working life ahead of you. The value of this income, year after year, can be worth millions. Without your ability to earn an income, you will find it difficult to achieve any of your financial goals. Therefore, personal insurance is extremely important, especially income protection. Our fee for service philosophy on insurances can save you thousands by not paying the commission year after year. When you are young and with the commission rebated, personal insurances are very affordable.

• Budgeting and cash flow management – Once your insurance is in place, the most important thing is to establish and follow a budget to ensure that you spend less than what you earn; this is the key to building wealth. When you are just starting out, your goal might be to purchase a new car, buy your first home or start your own business. Whatever your goal, our budgeting and cash flow management system can help you achieve it.

• Buying your first home – At Precision Wealth Management we can work with you to develop a customised savings plan to help you achieve your home deposit goal. Once you are ready to buy your first home, we can also assist with arranging your first home loan and can rebate the commission on your home loan with our fee for service philosophy. This can be of substantial value to individuals starting out, as a result of not paying ongoing commission for the entire life of your home loan.

Contact Us if you would like assistance with establishing your plan.