Oct292025
Financial PlannersNews build wealth

Can Eliminating Debt Help You Build Wealth?

Financial Planners, News

We provide a full range of financial planning services to our Perth clients, but one of the first questions we ask if you plan to build wealth, is about your level of debt. At Approved Financial Planners, the road to effective financial planning begins with taking charge of your debt and monthly expenses.

We can help you set up debts such as credit cards, student loans, leases, mortgages and personal loans in a way that helps you minimise interest payments that could be spent towards securing your future.

Debt isn’t always bad, but when it drags on without a plan, it can severely hinder wealth-building. Getting rid of the wrong debt changes your financial landscape: more cash flow, less risk, more freedom to invest, save, and plan for the future.

Types of Debt: Personal vs Income-Producing Debt

To set a foundation, it’s crucial to distinguish between personal (or consumer) debt and income-producing debt. The difference matters:

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Oct292025
Financial PlannersInvestment PlanningNews Property Investors

What Should New Property Investors Watch Out For

Financial Planners, Investment Planning, News

Investing in real estate often feels simultaneously attractive (tangible asset, potential for rent and capital gains) and scary (big sums, risk, uncertainty). For new Property Investors in Australia, the fears are real, backed by data. Below, I discuss the main concerns, evidence for them, and how to reduce their impact through good planning and professional help.

1. Property Investors Fear Overpaying (“FOOP”)

What people fear

  • Paying too much for a property relative to its intrinsic or future value.
  • Getting caught in bidding wars or auction environments where emotion or competition drives price above what is reasonable.
  • Buying in a location that’s overpriced (because of recent hype) and becoming saddled with negative equity if prices correct.
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Oct282025
Financial PlannersNews Financial Planning

Does Financial Planning Provide Psychological Benefits

Financial Planners, News

Financial planning is often seen mainly as numbers, spreadsheets, superannuation, investments, maybe tax or estate matters. But there is growing evidence—both in Australia and internationally—that a structured, intentional financial planning process brings psychological benefits: less stress, more life satisfaction, better resilience.

One foundational work is Kym A. Irving’s “The Financial Life Well-Lived: Psychological Benefits of Financial Planning” (2012, Queensland University of Technology). Irving argues that the process of financial planning (not just the end result) activates key psychological mechanisms such as sense of control, environmental mastery, competence, goal achievement, which all contribute to subjective well-being. (uowoajournals.org)

Below I’ll explain how each of the standard steps in financial planning can produce psychological benefit, referencing Irving and other research, and then interpret what this means for everyday Australians.

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Oct272025
Estate PlanningFinancial PlannersNews Estate Planning

Is it Time to Think about Estate Planning?

Estate Planning, Financial Planners, News

Many people assume that having a will is sufficient estate planning. But in Australia, a will is only one part of a broader, more complex set of decisions. Not fully planning can lead to legal uncertainty, family conflict, tax inefficiencies, loss of asset value, and an emotional burden on loved ones.

Below are key reasons to begin estate planning proactively:

  • Avoiding intestacy: If you die without a valid will (or with an outdated or invalid will), your estate enters intestacy. That means your assets are distributed under laws you did not choose. In Western Australia, for example, around 42% of people either don’t have a will or aren't sure whether they do. (Solomon Hollett Lawyers)
  • Outdated wishes: Many people who do have wills do not feel they are up to date. In a major Australian survey, about half of adults with wills felt their wills did not fully reflect their current wishes. (Charles Sturt University Research Output)
  • Incapacity and decision-making: It’s not just death. Many people do not plan for what happens if they are incapacitated (due to illness, dementia, or accident). Having powers of attorney, advance care directives etc. can make a significant difference. For instance, the “Estate Planning in Australia” survey found that relatively few people have arranged durable powers of attorney or equivalent arrangements, and even fewer have guardianship arrangements for children. (Charles Sturt University Research Output)
  • Emotional cost & family stress: Unclear instructions, surprise distributions, disputes among heirs—these all impose emotional distress. Loved ones may be unsure of what their relative would have wanted, or may be left to deal with a legal and financial mess, precisely at times when grief and shock make decision-making hard.
  • Financial cost & value lost: Delays, legal challenges, probate or administration overhead, mismanagement—all can erode estate value, sometimes significantly.
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Oct272025
Financial PlannersNewsSuperannuation Fund Splitting Superannuation

Splitting Superannuation Contributions with Your Spouse

Financial Planners, News, Superannuation Fund

Splitting Superannuation (also called contribution splitting) is a strategy that allows one spouse (or de facto partner) to transfer (in effect) part of the super contributions (before-tax/concessional contributions) made in a financial year into the other spouse’s super account.

  • The key idea is not splitting the current super balance, but splitting certain contributions made in the past financial year. (Australian Taxation Office)

  • This is different from super under family law splitting, which refers to dividing superannuation interests as part of a separation or divorce settlement. That is a legal process under the Family Law Act. But contribution-splitting is done during ongoing relationships (or after, but usually before separation), for strategic retirement planning. (Canstar)

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Oct272025
Financial PlannersInvestment PlanningNewsRetirement Planning Clear Investment Goals

Why It’s Important to be Clear on Investment Goals

Financial Planners, Investment Planning, News, Retirement Planning

In today’s uncertain global economy, knowing exactly what you want from your investments has never been more important. The financial environment is evolving quickly. Shifts in global power such as the rise of BRICS, the growing influence of cryptocurrencies, the strong performance of gold and silver, and renewed interest in mining stocks all add layers of complexity to investment decisions. At the same time, persistently low interest rates on cash savings force investors to rethink where they put their money.

Being clear on your investment goals is not about predicting the future. It’s about aligning your financial choices with your values, time horizon, and risk tolerance—so that no matter what happens globally, you stay on track.

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Oct232025
Financial PlannersInsurance ProtectionNews Self-Employed

A Business Survival Checklist for the Self-Employed

Financial Planners, Insurance Protection, News

Being self-employed offers independence, flexibility, and control. But with that comes extra financial responsibility and risk. Unlike employees who have regular pay, tax withholding, employer superannuation, leave, etc., you must manage much of that yourself. If you don’t plan, it’s easy for unexpected shocks, cash shortfalls, or misfortune to derail both business and personal finances.

Below, I lay out the key challenges, backed by recent Australian statistics, and then practical actions to stay financially healthy over the short and long term.

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Oct142025
Financial Planners Active Asset Allocation Must Be Done Correctl

Why Active Asset Allocation Must Be Done Correctly

Financial Planners

For Australians building wealth, the single most important decision is not whether to buy a particular share or bond, but how to allocate their money between asset classes. Active Asset Allocation—the balance between growth assets such as shares and property, and defensive assets such as bonds and cash—is the foundation of any investment strategy. It determines both the long-term growth potential and the stability of a portfolio.

This article explains why Active Asset Allocation is so critical, explores the long-term benefits of growth assets like shares, outlines the risks of emotional investing, compares long-term holding with dynamic asset mix adjustments, and highlights historical data on compounding. We’ll also look at market cycles, why investors often harm themselves by switching during downturns, and how a disciplined, balanced approach guided by a professional financial planner can make all the difference.

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Oct142025
Financial PlannersNews How to Teach Children Good Financial Habits

How to Teach Children Good Financial Habits

Financial Planners, News

Money shapes almost every aspect of adult life—from managing household budgets to saving for retirement to teaching children good financial habits. Yet many Australians enter adulthood without the financial literacy needed to make sound decisions. A 2022 survey by the Household, Income and Labour Dynamics in Australia (HILDA) survey showed that around 35% of Australians struggle with basic financial concepts like interest and inflation【1】.

This knowledge gap highlights why teaching children good financial habits from a young age is crucial. When kids learn how to budget, spend wisely, and save early, they carry these behaviours into adulthood. Parents, schools, and financial advisors all play an important role in fostering this literacy.

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Oct112025
Financial PlannersInvestment Planning Tips for Handling a Volatile Investment Market

10 Tips for Handling a Volatile Investment Market

Financial Planners, Investment Planning

Market volatility is an unavoidable part of investing. Prices of shares, property, and other assets rise and fall based on economic conditions, investor sentiment, company earnings, and global events. For Australians, the last decade has seen several shocks—from the aftermath of the Global Financial Crisis to COVID-19 and ongoing global geopolitical uncertainty. Each period has reminded investors of the importance of preparation, discipline, and clear strategies.

This article explains practical tips for navigating a volatile investment market: understanding what volatility means, maintaining a long-term perspective, diversifying, reviewing your portfolio, avoiding emotional mistakes, applying dollar-cost averaging, ensuring you have an emergency fund, staying informed, consulting professionals, and resisting the urge to time the market.

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