A wealth accumulation plan is an essential part of everyone’s financial planning. Wealth accumulation plans can include anything from a regular savings plan, a salary sacrifice arrangement or a large release of equity from a property to fund an investment portfolio.
The strategy that suits you will depend on your tolerance for risk and the objectives that you are trying to achieve. The one thing that is the same for everyone is that a well structured, tax effective, wealth accumulation strategy is a necessity.
The most important role that a Financial Adviser provides in this situation is not the initial strategy recommendation, nor is it the recommendation on which product to use, it is having someone there who will make sure that you stay on track with your plan. When share markets take a tumble it is vital that you stick to your plans and not sell down your portfolio or perhaps you are feeling that your money could be better spent somewhere other than superannuation. It is your Financial Adviser that will help you re-visit the initial reasoning for establishing that strategy in the first place.