Financial Planning: 5 Essential Tips for Success

Financial Planning

Get a tailored financial plan and start working towards financial freedom today.

Create the future you want

Financial Planning is essential for making your hard-earned money work for you. Whether you’re focused on financial planning for building wealth, retirement, or adapting to life changes, we help you make smart decisions that grow your wealth.

At FastLane Tax & Accounting Services, we simplify financial planning with time-tested advice and innovative strategies, transforming surplus cash into lasting security. Even if you’re financially comfortable, effective financial planning can help you create a more prosperous future.

We aim to be more than just your annual tax preparer. With a strong focus on financial planning, we partner with you to achieve your goals, guiding you from setting objectives to executing a dynamic plan for success.

Practical guidance and real results

At FastLane Tax & Accounting Services, we believe financial planning is more than just advice. We don’t just create a custom financial plan; we put it into action. Whether you have a 10-year plan or a financial goal before retirement, we’re here to make it happen. Share your aspirations, and we’ll guide you every step of the way to achieve your financial planning goals.

Make smart decisions with your money

Your money can achieve more when invested wisely through effective financial planning. We’ll guide you on the best places to invest to meet your financial goals. With our expert insights into tax, shares, and property, we’ll help you build a robust investment portfolio and create financial buffers to secure your future through smart financial planning.

Get tailored, personal advice

We take the time to understand you and craft a custom financial planning strategy tailored to your unique goals. Forget generic plans—our personalized financial planning approach is based on your individual needs and aspirations, ensuring every detail aligns with your specific situation.

How can we help you?

We offer a comprehensive range of financial planning services designed to help you prosper. We’ll work with you to decide what combination of financial planning services will best serve you and help you achieve financial freedom sooner. Think of us as your personal financial project manager, keeping all your financial balls in the air and bringing your financial planning to life.

Retirement Planning

Whether you’re aiming for an early retirement or planning to fund your dream retirement lifestyle, we can help you achieve your goals. Whether you’re decades away or just starting to plan, we’ll create a financial strategy that ensures you enjoy your retirement exactly how you envision.

Retire on Your Terms: Achieve the retirement timeline you desire.
Lifestyle Goals: Enjoy the lifestyle you’ve always wanted.
Superannuation Maximized: Optimize your super for the future.

It’s never too early to start planning for retirement. Even if you’re currently focused on your career, managing a mortgage, and raising a family, now is the ideal time to begin. By reducing debt and boosting your super, among other strategies, you can set yourself up for a successful retirement.

As retirement approaches, our planning will center on maximizing your superannuation and ensuring a stable cash flow, while also incorporating strategies for tax and debt reduction. We’ll also prepare you for significant purchases and unexpected costs, creating a comfortable financial cushion.

Since it’s impossible to predict how long your retirement will last, having a solid plan is essential. We’ll work with you to ensure your retirement is as worry-free and enjoyable as you desire.

Preparing for planned and unexpected life events

Major life events like weddings, buying property, and retirement can be significant financial strains. Unplanned events such as job loss, natural disasters, or family emergencies also bring financial challenges. Although it’s uncomfortable to think about these situations, having a financial plan that includes provisions for such events can ease the financial burden during tough times and enhance enjoyment during the good ones.

Plan for Major Life Events: Save for weddings, property purchases, and retirement.
Create a Financial Buffer: Prepare for unexpected hardships.
Protect Your Cash Flow: Implement strategies to manage your finances effectively.

Things might be going well now, but what’s your backup plan for unexpected events? Losing a job or facing unforeseen difficulties can be financially stressful if you don’t have a savings buffer. We’ll help you set a realistic savings goal to prevent financial strain during tough times.

For parents, planning for significant life moments like sending children to university or supporting their weddings is important. Setting aside funds now can ensure you’re financially prepared when these events occur, without disrupting your cash flow.

While enjoying life is important, having a financial safety net for major life events provides peace of mind. Whether it’s life insurance, savings, or other financial strategies, we can help you prepare for life’s challenges and celebrations, ensuring financial freedom for all your significant occasions.

Making strategic investments to grow your wealth

Once you have surplus funds after covering your expenses, it’s time to make strategic investments to grow your wealth. While cash in the bank yields little, well-managed investments can significantly boost your financial growth.

Ongoing Investment Management: Expert advice on effective investment strategies.
Property Investment Guidance: Navigate opportunities and pitfalls with professional help.

We’re not just planners; we’re doers. After developing a strategic investment plan, we get straight to work.

Property investment is one of our specialties. Whether you’re buying a new home or investing, we guide you through loan options, tax benefits, and obligations. From managing capital gains tax to utilizing negative gearing, we ensure you maximize your property investments.

If you’re buying a family home, upgrading, or downsizing, we help plan for related expenses like repairs and maintenance. We also offer advice on share investments and Self Managed Super Funds.

Discover where to invest for a secure financial future with our expert guidance.

Self managed super funds

Superannuation offers more than just retirement funding. It can be a valuable resource for various needs, from borrowing and tax benefits to pension strategies. Your super can be much more than an idle fund.

Up-to-Date Super Advice: Maximize benefits and utilize low tax rates.
Boost Your Super Balance: Increase your super by thousands.

Self Managed Super Funds (SMSFs) are becoming popular for their flexibility and control over investments. With lower fees and higher customization potential, SMSFs offer significant advantages for savvy investors.

We provide comprehensive SMSF services, including setting up your fund, preparing financial accounts, handling ATO returns, offering tax benefit and pension strategy advice, and ensuring compliance. The right advice can save you thousands over the life of your fund.

At Beyond Accountancy, we offer proactive, innovative guidance to help you get the most out of your SMSF. If you’re considering starting an SMSF, we can help you every step of the way.

Frequently asked questions

How much home loan deposit do I need?

Typically we recommend having a deposit of at least 20% of your property price, (deposits under this mark usually incur Lenders Mortgage Insurance costs of up to 4% of the property price) however, there are ways around this:

First Home Loan Deposit Scheme (FHLDS) — under this scheme eligible first home buyers can build or purchase their home with a deposit of as little as 5% thanks to the National Housing Finance and Investment Corporation (NHFIC) guaranteeing up to 15% of the property’s value.
Family Security Guarantee — a family member can act as a guarantor to secure your deposit, making up the remaining balance to get you to 20%. They don’t need to hand over any money, just put up cash or equity as security against your deposit.

How much should I borrow?

Generally, we don’t recommend borrowing any more than 80% of the price of your property. If you borrow over the 80% mark you’ll be required to pay Lenders Mortgage Insurance (LMI).

What are the different types of home loan?

There are several different types of property loans including:

Fixed-rate — Fixed-rate home loans allow you to lock in your current interest rate when you settle the loan.
Variable — Variable home loan rates fluctuate based on the Reserve Bank of Australia’s cash rate.
Interest-only — Interest-only loans require you to only pay the interest and no capital on the loan. They typically have a limited loan term of no more than 5 years.
Split rate loans — A split rate loan combines both fixed and variable portions of the loan.
Low doc — Low doc loans are for those who might struggle to provide sufficient paperwork to support a traditional loan (such as self-employed people).

How much do your mortgage broker services cost?

Mortgage broking is a commission-based industry, with banks paying the mortgage broker. Our mortgage broking costs also include…

What should I bring with me?

Coming soon

What is lenders mortgage insurance?

Lenders Mortgage Insurance (LMI) is a fee paid by borrowers when borrowing more than 80% of the purchase price of a property. This insurance is to protect the lender if the borrower is unable to pay the loan. This fee can either be paid upfront or if the lender allows it, be added to your loan. LMI ranges from $800 up to around 4% of the loan amount.