Whether you go to a professional financial planner or do it yourself, you’re going to need a plan. In its brochure, “Don’t kiss your money goodbye”, the Australian Investments and Securities Commission (ASIC) says that a good financial plan should:

• summarise your financial position
• list your goals
• explain how you will reach those goals
• show how carefully chosen investments mesh together as working parts of your overall strategy
• disclose and explain any risks and how they can be overcome
• state all the costs
• reveal the commissions your adviser might receive from the recommended investments.

Download a copy of “Don’t kiss your money goodbye”.

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