It is a question I hear often: “Do I really need financial advice?” Yes.
Many people think financial advice is only for the wealthy or those investing large sums. But financial advice is also about helping you avoid costly mistakes, make informed decisions and protect your future.
Already this financial year, I have seen two real-life examples where advice would have saved clients thousands.
Client 1 sold an investment property and signed the contract on June 3, with settlement on July 8. They assumed the gain would be taxed in the 2025-26 financial year, which was after they had retired.
Unfortunately, capital gains tax is triggered on contract date, not settlement. As a result, they now face a tax bill of more than $120,000: an outcome that could have been significantly reduced with proper planning and timing.
Client 2 thought they were doing the right thing by adding more to their super after selling an investment, but they unintentionally breached their non-concessional contribution cap as they forgot about a previous contribution a couple of years ago. This creates a messy tax problem that could have been avoided.
These are not investment decisions. They are timing and strategy issues that most people don’t know to consider. Navigating financial decisions can be overwhelming, but advice can save you much more than it costs and give peace of mind.
Mandy Newman, Director, AJN Financial, 15/13 Poinciana Avenue, Tewantin, 5430 6631, ajnfinancial.com.au
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