Answers to common questions about the personal advice service for MilitarySuper members.
Is personal financial advice right for me?
When you have a plan, you generally achieve more and get there faster. It's the same with your finances. Personal financial advice in the form of a comprehensive financial plan lets you make the most of what you have. You can focus on achieving your goals, whatever they may be.
Your financial planner can develop your plan once you discuss your situation and goals with them. There may be a number of scenarios in your plan for you to consider.
Planning for retirement can also be complex, especially with potential changes in superannuation, taxation and social security legislation. These can make the transition from full-time employment to retirement challenging. A good financial planner will help you avoid any pitfalls.
What matters can I get advice on?
Advice from CSC’s authorised* financial planners can cover a range of financial matters to help you build, manage and protect your wealth. For example:
- maximising your super
- tax effective strategies
- transition to retirement
- retirement income stream options
- investments — inside and outside of super
- life and income protection insurance
- debt elimination
When should I see a financial planner?
An experienced financial planner can help guide you through many different situations and life stages. Some of the most common and important times to get advice include:
- if full retirement is 12 months or less away
- if you are transitioning to civilian life
- if you are uncertain whether your current superannuation savings will meet your retirement goals you face a major change to your personal situation (eg redundancy or divorce)
- if you receive a significant amount of money (eg inheritance or property sale proceeds).
How do I get advice?
Once you agree to the advice you wish to receive, your financial planner will provide you with a document called a ‘statement of advice’. It generally takes two or three weeks to prepare, depending on the complexity of your situation and the analysis required.
Your statement of advice will outline the strategies to achieve your financial goals.