31 October, 2024
Understanding Passive Income: Building Wealth Through Investments
Discover popular passive income strategies through property, shares and other investments to build long-term wealth and ...
Carbon Wealth helps you secure a brighter financial future.
If you’ve felt overwhelmed trying to figure out the best starting point for managing your personal finances, and how to plan long-term for your financial future, then you are not alone.
Money skills are not taught in school and setting yourself up correctly can save you a huge headache in the future. There are many areas to consider, such as income protection, reducing debt, understanding investments, managing your superannuation, selecting life insurance or retirement planning.
The good news is Carbon Wealth Management can help. We’re a team of financial planners who will not only help you set up financial strategies and plans to achieve your goals, but we’ll walk the journey with you.
There are many areas to consider when planning a financial strategy. Here are the top six aspects we believe you should be thinking about, and that we can help with.
Risk management
Protect yourself, your family, your business, and everything you care about. This can include life insurance, income protection insurance, and more.
Debt management
Paying off your mortgage, loans and debts early opens the door to new opportunities to create financial independence.
Investment planning
A smart way to create passive income for the future and enhance your desired lifestyle, investment planning will pay off in the long run.
Retirement planning
The best time to start preparing for your financial future is right now. Planning for retirement early will help you retain your current lifestyle in the future.
Succession planning
It can take a lifetime to build a business and accumulate wealth.
Succession planning can provide certainty that this will pass to your loved ones.
Estate planning
At a time when your loved ones are grieving, don’t leave them with additional hurdles to overcome. Estate planning involves more than an up to date will.
Create a financial plan that works with you
Throughout our lives, our personal financial needs and goals change. By working with a financial planner, you can create and follow financial strategies that will help you achieve your financial goals.
Once you have a plan in place, you’ll enjoy the peace of mind that comes from knowing your finances are working with you, and you’re on track to be secure financially.
Calculate your personal wealth health check.
Take control of your finances with a personal wealth portal
Securing your financial future made easy, say hello to your financial world’s new command centre. Set yourself up for success with the portal’s powerful organisation, analytics, and collaboration tools.
Keep your finances organised
Connect all of your finances in the one place, from your bank accounts to loan repayments to insurance, properties and estate planning.
Track your spending, create new habits
Make managing your spending easy with live bank feeds and budgeting features to keep track of your spending and your savings goals.
Reach your financial goals
From property investment targets to your dream retirement, we can recommend tools to help you achieve these goals.
Navigating Your Financial Future Financial Planning Guide
Find out more about how we can help your finances work for you.
Download our eBook for free!
Frequently Asked Questions
We’re all on our unique journey in life and our financial road is no different. Often, decisions we make now affect our financial future, without us really being aware of the consequences. A financial planner can provide structure and guidance surrounding your financial decisions, helping you to work towards a clearer, more secure, financial future.
As a minimum, your financial planner should be contacting you on an annual basis. If your situation changes throughout the year, for example, your income changes, you are considering purchasing a new house, or you are looking at investment opportunities, you should speak to your financial planner before you make these decisions. Your financial planner will help you understand what these changes may mean for your financial future.
Nobody is exempt from life’s unforeseen events. No matter what your age, health or lifestyle, the unexpected can happen to anybody. Life insurance can give you and your peace of mind that you’re covered in the event of serious injury or death.
The cost of life or personal insurance varies depending on your personal circumstances and levels of cover required. It’s best to speak with a financial planner who will assess your situation and recommend a policy that best fits your needs and matches your personal goals.
Considering the way your policies are structured is important, as different structures may have different tax implications. Policies can be structured in a way to achieve certain tax outcomes in the event of a claim. Your financial planner will talk you through this during the advice process.
Estate planning is how you can ensure your assets pass onto your nominated family members in the most financially efficient and tax-effective way possible. Estate planning is more than just a will and includes other important documents like Enduring Power of Attorney, Advance Medical Directive and a Living Trust. Once you have your estate plan in place, you should review it yearly as life and circumstances can change.
You wouldn’t buy a house or car without insuring it, so why don’t we always do the same for our life and income?
There are four common personal insurances, but some add a fifth.
- Life insurance
- Total and permanent disability (TPD) insurance
- Critical illness insurance
- Income protection insurance
- Business expense insurance
Coverage varies between insurers, so seek professional advice when comparing the fine print.
The answer depends on who you ask. Some will say $1 million is the gold standard, but we don’t agree. The ideal amount for you depends on your retirement goals, individual situation, resources and lifestyle.
For most of us, our money comes into one bank account and is spent from that same account, and we don’t put much thought into in long-term savings strategy. If you’d like to have a solid financial future to better position yourself when unforeseen circumstances occur, then you should work with a financial planner on your cash flow plan.
A financial planner will review your spending, income and savings goals and create a strategy on how your money should be spent. They will also help set up your bank accounts so the whole process is seamless.
Investment planning involves creating strategies to generate passive income and enhance your lifestyle over the long term.
Risk management includes protecting yourself, your family and your business through insurance products like life insurance and income protection.
Contact us today Book a free consultation
Contact us today and find out how our Wealth Management team can help you.
Our Latest
DISCLAIMER
Carbon Group Wealth Pty Ltd ABN 27 651 743 734, CAR 001292171 is authorised to provide financial advice through Insight Investment Services Pty Ltd ABN 22 122 230 835 AFSL 309996 This website and any documents contain general advice only. You need to consider with your financial planner, your investment objectives, financial situation and your particular needs prior to making an investment decision. Please read our current Financial Services Guide (FSG) which can be found here. Please also read our current Privacy Policy which can be found here. Please click on the following Adviser if you’d like to see their Adviser Profile: Blair Milne, Mark Edwards, Jamie Tonus, Mike Haberfield and George Kapiniaris.
A local team dedicated to your business.
Blair Milne
DIRECTOR
Blair joined Carbon in 2022 and launched our Wealth Management division in Brisbane. For Blair, being able to help his clients see their goals come to fruition is the most fulfilling component of what he does. Outside of work, he enjoys running, cycling or playing footy.
Michael Waycott
PARTNER
With over 30 years of accounting experience and 15 years as a financial advisor, Michael brings extensive expertise to Carbon Elsternwick. He specialises in tax strategy, superannuation planning and financial advisory, with a client-focused approach. Michael has supported clients across medical, dental and property sectors. Outside of work, he enjoys sports, cycling and spending time with family and friends.
Mike Haberfield
PARTNER
With a background in public administration and teaching, Mike takes an enthusiastic approach to his role, effectively assisting his clients in achieving their personal wealth and retirement goals. Mike has many years of experience in the accounting field, becoming a public accountant in 1993, and as such has a wealth of knowledge to benefit his clients.
George Kapiniaris
PARTNER
What started as a high school passion for accounting evolved into an illustrious career for George. From his initial roles in the big four accounting firms audit and corporate tax divisions, he has dedicated over two decades to serving SMEs and individuals. Outside of work, George is a mad AFL Richmond supporter, constantly shouting at the MCG umpires.
Mark Edwards
FINANCIAL PLANNER
Mark Edwards has worked in financial services since 1999 and values the friendships he has formed with clients over the years. He has a Bachelor of Commerce in Property and Finance, a Diploma of Financial Planning and is also Certified Financial Planner (CFP). In his free time, Mark enjoys windsurfing and spending time with his family, and will soon give wood carving a crack.
Karen Jonas
DFP
PARAPLANNER
Wealth Management
Karen Jonas
PARAPLANNER
With a Bachelor of Commerce (Hons), Karen started her career in investment banking. After 7 years in finance and a break to have kids, Karen transitioned to financial planning and has been a paraplanner for over 15 years. Outside of work, you'll find Karen planning her next overseas adventure, enjoying live music or catching up with friends over a good cup of coffee.
Danielle Berry
-
CLIENT SERVICES MANAGER
Wealth Management
Danielle Berry
CLIENT SERVICES MANAGER
Danielle's 15-year finance journey, from banking to aspiring financial adviser, reflects her deep understanding of industry regulations and client services. Relocating from Sydney to Brisbane in 2022, she joined Carbon Wealth Management, fuelled by the thrill of helping clients achieve financial freedom. Passionate about musical theatre and snowboarding, Danielle enjoys long mountain road drives and getting lost in musical theatre.
Drew Stacey
-
CLIENT SERVICES OFFICER
Wealth Management
Drew Stacey
CLIENT SERVICES OFFICER
Having graduated high school in 2023, Drew joined our Wealth Management team in early 2024 as a Client Services Officer. He is currently studying a Bachelor of Commerce, majoring in Finance. Drew loves helping clients achieve their financial goals and finds great satisfaction in his role. Outside of work, he enjoys going out with friends, especially to the beach on hot weekends.
Roxanne Laugesen
-
CLIENT SERVICES OFFICER
Wealth Management
Roxanne Laugesen
CLIENT SERVICES OFFICER
With a decade in wealth management post-parenting break, Roxanne has extensive experience, spanning large and small firms. Proficient in multiple platforms, she handles modest to HNW clients, excelling in complex structures and SMSFs. Her strength lies in client service and strategic advice, enriching client interactions and adviser support. Outside work, she leads a healthy life, enjoys family time and cooking.
Featured in
Quotes
5 August, 2024
Financial Strategies for Growing Your Medical Practice
Learn how Australian medical practices can achieve financial stability and growth with expert tips on billing, expense m...
8 July, 2024
SMSFs: Pros, Cons and Compliance Tips for Australian Investors
Discover the pros, cons, and compliance tips for Self-Managed Super Funds (SMSFs) in Australia to make informed decision...
