Do you want to learn and apply the strategies that experts use to grow and protect wealth? In Smart Money Strategy, popular financial planner Luke Smith comprehensively reveals the principles, methods and tactics that real financial planners use with their clients. Every person’s - and every family’s - financial journey is different. There’s no silver bullet or one-size-fits-all approach. But there are financial strategies that can be applied, no matter what stage you’re at in life, to get your money working harder for you with less stress.
Smart Money Strategy will help you to define your priorities and create a personalised, actionable plan to achieve your goals. You’ll learn effective strategies to manage your income, reduce your debts, and maximise your investment, superannuation and retirement outcomes. Even better, you’ll learn how different strategies can be stacked together for maximum benefit. In other words, you’ll learn how you can stack the financial odds in your favour!
You’ll discover: - The basics: 5 truths about money and the 5 foundations you need to get started - The actual strategies used by financial planners when it comes to cash flow, risk assessment, investing, protecting wealth, retirement, and estate planning - How smart planning can minimise fees and taxes on your investments - How to combine your money strategies and put together your own detailed financial plan
From adopting a money mindset to protecting your assets, with Smart Money Strategy you’ll uncover the secrets to achieving your financial goals. Whether you want a hands-on DIY approach, or you’re looking for the essentials you need to talk more confidently with your own financial planner, this book will help you create a tailored plan for growing your wealth.
Table of Contents
Acknowledgements ix
About the Author xi
How to Use This Book xiii
Introduction ix
Part I: The Foundations 1
1 Five Truths about Money 3
2 Your Adult Financial Life Starts and Ends with ‘Why?’ 13
3 Setting Strong Foundations 19
Part II: Strategy Stacking 35
4 Understanding the Strategy Stacking Philosophy 37
5 Strategy Stacking around Significant Life Events 53
6 Getting Started: Assessing Your Starting Position 61
7 Making a Plan: The Strategy Stacking Calendar 81
8 Strategy Stacking Scenarios 85
Part III: The Strategies 119
9 The Framing Strategies 121
10 The Investment Strategies 143
11 The Superannuation Strategies 191
12 The Retirement Strategies 245
13 The Wealth Protection Strategies 291
14 The Estate Planning Strategies 321
Part IV: Putting Your Financial Plan into Action 339
15 Why Seek Personal Financial Advice? 341
16 What to Expect from the Financial Planning Process 349
Endings and New Beginnings 359
Index 363
