"You Cannot Create Any Serious Level of Wealth Without Sophisticiated Money & Cashflow Management"
Empower Wealth's Wealth Pyramid clearly shows there are two defined areas of wealth. At the top of the pyramid is the area most professionals operate in helping their clients build wealth. But the secret to superior wealth lies within the foundations of money management – this is where the journey begins, yet too often professionals fail dismally here because they don’t provide continual services – they are more interested in making money out of their clients by offering investments services.
At Empower Wealth, our Money & Wealth Planning division is a prime driver of the wealth we create for our client base.
Mastering Money Management
The successful control of money is all about understanding that money is purely just another commodity, like gold, as an example. Money, in fact, is actually the biggest commodity in the world. It’s true what they say about money; 'It makes the world go around' and 'money does make more money'.
In terms of your personal money controls, if you were able to master the art of money management then technically you would be well and truly on your way to becoming wealthy. (Click here to watch an insightful presentation about Money and Wealth Planning for a Superior Retirement)
Sophisticated Money Management is the art of managing many variations and making caculated assumptions, forecasts and projections, which should include:
- Cash Flows
- Income
- Bills
- Expenses
- Debt Levels
- Surplus Funds
- Investments
- Savings
- Superannuation
- Loans
- Interest
- Future cash needs
- Provisioning for future income targets (Retirement Income)
- Risk
- Lifestyle
- Wealth Creation
- Money measurement
- Auditing
Juggling the movement of money to accommodate the variables above is very difficult and is the reason why most people fail to retire on a sufficient income to enjoy their later years in comfort. Furthermore, for most people the time and skills required to master these complex money decisions is simply too much for them to allocate out of their already limited spare time. Yet by making the decision to ignore your opportunity with your money, is technically agreeing to saying you are happy to lose your hard earned money, through its lost earning potential.
Satistics prove that the vast majority of Australians do put off thinking about money or put it in the too hard basket. Same result, less wealth for them. Interestingly, when the retirement night on the horizon start to flicker ahead, these people come to the harsh reality that time has run out and it’s too late for them to retire at the age they hoped they would be able to retire at - say 60 as an example. They have missed the boat to create enough savings or investment for a comfortable retirement, so they have to keep working for another decade or so, when their friends are enjoying retirement, because they had a plan which maps out their journey to retirement and beyond.
Mastering Wealth Creation & Planning
Wealth Creation is a science that many have opinions on, yet few succeed. Wealth Creation is the ability to select and manage assets/investments for returns in the form of capital growth and income. It requires the combination and blend of:
- Knowledge
- Right Mindset
- Planning & Execution
- Superior Money Management
- Time (and sometimes timing)
- Leverage (possible)
- Experience
- System & Approach
- Resources – Professional team to administer and guide
to deliver and achieve long term, sustainable and rewarding financial outcomes. Very few people can achieve this without specialist help.
So whats the good news?
The really positive thing about money and wealth planning is unlike getting fit, where you have to do all the work, you can outsource money and wealth planning to Empower Wealth. We can help you change your current money management techniques and practices and help improve your wealth. Most importantly our professional services are tailored to you and your personal/household goals, dreams, targets etc.
Products & Services
Our Money and Wealth Planning products and services are all about delivering on our goals of ‘changing people’s financial outcome for the better, now and for many tomorrows’. By providing advice and services around money movements and wealth creating road maps incorporating wealth projection scenarios and potentially ongoing assessment and recommendations to ensure the goals and targets are achieved for our clients.
Budget & Savings Projections Report
An assessment of your current cashflow position and strategic advice on cashflow management and account structures. Includes:
- Strategic advice - a one hour consultation to identify and document current and new desired spending and cashflows, a savings plan and recommended account structuring and money allocations
- A Report including
- A statement of your current financial position
- Assets and Liabilities
- Current cashflows including income and expenditure
- Recommendations section Including:
- Income Target
- Expenditure Targets
- Savings Plan
- A proposed account structure to assist with management of debt, savings and cashflow
- Other recommendations identified within the review
- A cashflow tracking software tool to assist with personal cashflow monitoring
Cash Flow Analysis and Wealth Projection Report
An assessment of your current cashflow and equity position and strategic advice on cashflow management and account structures. Includes:
- Initial Cashflow and Wealth Assessment
- A one hour consultation to document your current cashflow position, assets, debt levels and account structures using Empower Wealth’s “Cashflow Questionnaire”
- An assessment of your current cashflow and wealth position
- Investment Affordability Assessment
- An assessment of your ability to invest, based on current and proposed future incomes, spending, assets and borrowings
- Preparation of a “Wealth Projection” to analyse and demonstrate future cash flows and investment affordability of your proposed investment scenario
- A one hour consultation to review the projected affordability and wealth outcome of your preferred investment scenario, with the opportunity to compare one alternative scenario
- Money Analysis and Wealth Projection Report
- A detailed Report documenting the results of your Cashflow Analysis and Wealth Projection, providing an analysis of your current and potential financial position. Includes :
- Detailed report of your current incomes, spending, assets and borrowings
- Report of your current Equity and Net Worth
- Report of your current cashflow position
- Wealth Projections for two defined scenarios and one proposed scenario chosen by you, each including
- Assumptions, statistical analysis and basis of projection
- Projected assets, debt and income at retirement
- Year by year wealth projection chart and table for the next 40 years
- Wealth projection observations and conclusions
- Comparison of the three Wealth projection scenarios
- Detailed cashflow analysis and projections for any proposed investments
- A one hour consultation to present and explain your Money Analysis and Wealth Projection Report
Personal Wealth Management Services (2 years)
A comprehensive cashflow management and wealth creation advisory program over two years. Includes:
- One Money Analysis and Wealth Projection Report
- Personal Wealth Management Plan Folder, including :
- Personal Wealth Management Plan, containing detailed analysis of your incomes, spending, assets and borrowings, and wealth projection chart and table for your chosen scenario
- Weekly planned cashflow summary
- Account structure information and diagrams
- Instruction Manual with examples
- Binders and dividers for storage of Plan documents and financial statements
- A one hour consultation to present and explain your Personal Wealth Management Plan, account structure information and cashflow management and reporting
- Comprehensive Monthly Progress Report to enable tracking of progress against Plan
- Periodical reviews and updated Personal Wealth Management Plans - at least once every six months or more often as required, to a maximum of four updated Plans in the two year minimum term of the Program
- Additional Investment Scenario Projection and Comparisons - as required, to a maximum of six in the two year minimum term of the Program
- General contact and professional advisory support during the two year minimum term of the Program, including access to :
- Money and Wealth Planner
- Finance Strategist
- Investment Education Workshops
- Financial and Investment Planner ( additional Professional Advisors fees may apply )
- Property Advisors ( additional Professional Advisors fees may apply )
Wealth can only be created through superior money management and these services are directly focused on ensure surplus income is trapped and delivered to building one’s wealth. It’s an essential need for anyone interested in really making it happen.
FREE INITAL MONEY & WEALTH PLANNING ASSESSMENT:
At Empower Wealth we are passionate about helping households improve their financial situation and create greater wealth outcomes for themselves and those important to them. Our Free Assessment is a 'needs analysis review' of your current situation as we try to identify opportunities to help you better manage your money and build wealth. If you would like to learn more about these exclusive personalised professional services provided by experienced specialists, you can call our offices on 9326 8900 and ask to speak with Michael Pope our Money and Wealth Planner or email mpope@empowerwealth.com.audirectly to request your free consultation. (Note: If you are outside of Melbourne - we are able to conduct these reviews over the Internet)
If you would like to get a better understanding of the importance of money and wealth planning, then I encourage you to watch this free 1 hr video presentation about Money and Wealth Planning which is presented by the founder of Empower Wealth - Ben Kingsley and Michael Pope our Money and Wealth Planner - Click here to start watching now
