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We are excited to announce the launch of our new business, Eadon Financial Planning.
At Eadon Home Loans, we recognise that many of our clients have other financial issues that require professional advice. For example, we are often asked who can assist our clients with advice about superannuation, insurance and wealth creation. We are delighted that we can now offer these services directly to our clients.
Through Eadon Financial Planning, you now have the opportunity to meet with our experienced financial planners who are able to advise you about a range of financial issues.
The right financial advice can offer you and your family the best opportunities to plan, grow and protect your wealth. Importantly, this process will provide you with peace of mind and guidance regarding your current situation and your future financial goals.
What services do we offer?
Investment Planning
Whatever your income or circumstances, it’s important to adapt your financial plan to your changing needs or goals. Are you saving for something specific? Do you simply want to build your wealth but don’t know where to start? We will put you on the path to wealth creation and will help you all the way.
A regular review of your financial plan is as essential as a health check. We will help you ensure your investments are working in your best interests, whatever your changing circumstances.
Wealth Protection & Insurance
Assets won’t contribute to your wealth creation unless you have a plan to keep them secure. Eadon Financial Planning deals with 10 different insurers and can offer a wide range of insurance options. Your individual circumstances are matched to the right insurance products for appropriate benefit cover and affordability.
We all know life is full of uncertainties – unfortunately some of these uncertainties can potentially harm or even ruin us financially. That’s why financial protection is so important. Financial protection can give you peace of mind. So no matter what happens in life you can be secure in the knowledge that at least financially you’ll be able to cope.
Don't let bad luck decide your financial future. Financial protection insurance is often overlooked when developing a financial plan, although it is one of the best forms of protection against life's calamities, including financial hardship caused by serious illness, injury or death.
Financial protection is available to cover a wide range of events:
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• Income Protection
What is your greatest asset? Most people typically respond that their home, their car, or their investments are their greatest assets. However, your greatest asset is actually your ability to earn an income.
Most of us rely on our income to pay the mortgage or rent; to keep ourselves and our families clothed and fed; and maintain a comfortable standard of living. So protecting our ability to earn an income should be a high priority. Yet, while many of us insure our homes and possessions, we often ignore protecting our income. An income protection policy will pay a regular income if you are unable to work because of sickness or injury. Whether the disability is as serious as cancer or as minor as a broken arm, income protection provides a simple, cost-effective safety net.
Most policies will pay up to 75 per cent of your average monthly income (net of business expenses but before tax), and will cover you against various conditions, which could disrupt your ability to earn an income.
Income protection is particularly important to the self-employed, who cannot rely on short-term sick leave from an employer.
• Business Expense Protection
Business expense protection covers your business against fixed costs like rent, lease arrangements and non-income producing employees' salaries, should you or your partner suffer a serious sickness or injury.
• Life Insurance
A life insurance policy provides financial assistance in the form of a lump sum to your family or other dependents in the event of your death. The proceeds can be used to meet your family’s outstanding commitments, such as the mortgage on the family home, and to maintain your family’s standard of living.
There is no doubt that no price can ever be put on the value of a human life. However, life insurance is a safety net that allows your family to cope financially if you or your partner died. In what would be an emotionally devastating time, life insurance removes one major stress – financial insecurity.
Ensuring you have adequate life insurance for your individual circumstances can be a difficult task. We can help you by highlighting areas to consider when calculating the amount of life insurance that you require.
• Trauma Insurance
Most of us know of someone that has suffered from a serious illness. While modern medicine can provide many people with a good chance of recovery, the financial consequences of a serious illness can be devastating. Bills, for example, don't stop just because you're ill. A serious illness, such as cancer, a stroke, a heart attack or any one of a number of other major illnesses, can strike at any time, causing physical and emotional trauma.
For those recovering from such an illness, or facing a lengthy period of incapacitation or recuperation, there is often the financial burden of medical bills and expenses, the ongoing costs of rehabilitation and care, possible modifications to the home, and forced early retirement.
Few people have the necessary savings to pay all these expenses or to manage without a regular income.
Trauma insurance can offer relief by paying a lump sum to ease the financial burden on both the insured and the family.
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Superannuation
Is your super spread over several funds? Are you struggling to keep track of what you have invested? Are you possible paying unnecessary fees? We can help you consolidate all of your super into an easy to track, cost effective fund that best suits your needs.
Superannuation remains one of the most tax effective ways for Australians to accumulate money to use in their retirement, yet it is the area continually affected by legislative changes. We help you keep on top of these changes, in order to maximise the returns on your retirement nest-egg.
Debt Management Strategies
To effectively maximise your wealth, it is essential to have in place a strategy to reduce debt over time. The ultimate goal of course, would be to eliminate all debt.
But is all debt a bad thing?
Debt is not always a bad thing as we often go into debt to purchase items we cannot afford at the time, like a home. As long as you remain in control and are able to make the repayments, then debt is not usually a problem. It’s when the debt starts to control you, that action needs to be taken.
It is also important to distinguish between ‘good debt’ and ‘bad debt’. ‘Good debt’ enables you to claim a tax deduction - for example the interest you are paying on a loan for a investment property. ‘Bad debt’ is any personal borrowings that do not give you a tax advantage.
We can assist you with a debt management strategy to accelerate the payment of your ‘bad debt’ and to come up with a plan to reduce your overall debt.
Budgeting
Saving is all about putting money aside to use in the future.
When putting together a budget it is important to be realistic about what you can afford to save and what you can cut back on.
Don’t be too severe on cutting back the pleasures in life – if you’re too severe you will find it difficult to stick to your plan.
Saving is about setting goals. This creates an incentive because you know you having something to aim for.
Our planners assist you in identifying the right budget strategy for you.
Retirement Planning
With the right planning, we will give help you to maximise the amount of money you have to live off in your retirement. Retirement and superannuation laws are complex – we work with you to put in place the right strategy for your needs, including structuring your finances so you receive any Centrelink benefits you are entitled to. And, importantly, we’re there to review and adapt your strategy as your circumstances change.
The Eadon Financial Planning Process
The first step is to organize a meeting with our financial planners. This is a free, no obligation meeting. At this meeting, our planners will discuss and assess your current situation. They will also discuss your lifestyle and financial goals and objectives, both short-term and long-term.
From the details gathered at this meeting, they will put together a comprehensive financial plan in line with these goals and objectives.
To make an appointment to meet with our financial planners, please contact the Eadon Financial Planning office on 8362 7144 or email admin@eadonfinancialplanning.com.au
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Financial Planning
