Young Families

Young families tend to have a lot on their plate at any given time and often balance a lot of expenses on one income, which can limit cash flow.  As such, the most common areas to address for young families are:

• Personal insurance – When you have a young family, personal insurance is absolutely vital as you often have young children dependent on you, a mortgage and many bills and expenses. As such, all personal insurances, including income protection and death cover, are very important. With young families especially, our fee for service philosophy on insurances can save you thousands by not paying commission year after year.

• Estate planning – Too often in the financial services industry personal insurance is sold to young families as an essential insurance, however limited consideration or planning is conducted for how this would be managed in the unfortunate circumstance of a claim. At Precision Wealth Management we ensure you have an estate plan in place to make sure the proceeds of insurances, as well as your other assets are managed in the most efficient way possible, so that the planned outcomes can actually be achieved. You can download an information sheet on insurances and Estate Planning for young families here.

• Budgeting and cash flow management – Managing multiple expenses including mortgage repayments and all the costs associated with a young family can be very difficult. Our budgeting and cash flow management system can help you achieve your financial goals and assist you with building a secure foundation for your family’s financial future.

• Home loan – Whether you are looking to buy your first home as a young family or looking to upgrade your existing house to accommodate your growing family, we can help you work towards achieving your goals. With our fee for service philosophy, we can assist with sourcing and arranging your home loan and can rebate the commission which can be of significant value to young families as a result of not paying ongoing commission for the entire life of your home loan.

• Wealth creation – You might have the mortgage under control and some funds left over to commence a wealth creation plan. We can provide appropriate wealth creation strategies for you to fit in with your stage in life.

Contact Us if you would like find out how we can help you.