A quick checklist to consider while the year is still young. Reviewing your finances can set you up well for a happy financial year.

1. Get set for 2016!
Setting aside time to regularly review your finances is one of the easiest ways to keep
your plans on track and work towards achieving your financial goals.
Here Damien looks at how you can take a look at your finances and make any necessary
changes before it’s too late.
Review your super…
Looking regularly at how your super is invested can make a big difference to the final amount
you have when you retire.
Does your super’s asset allocation still fit with your risk profile?
“This is particularly important if your financial circumstances have changed,” says Damien, “as it
could mean you are taking on too much risk.”
“On the flip side, you may also be in a situation where you are not taking enough risk, which
may mean your retirement nest egg ends up being a lot lower than it could be.”
Damien points out that the role of a financial adviser is to review your super’s investment
strategy and suggest appropriate changes, which strive to build the retirement lifestyle you
want.
“As part of this review, we look at how much you are contributing to super and if appropriate we
might suggest you ‘top up’ your super through a salary sacrifice arrangement or ‘after-tax’
contributions.
“Even a small increase in super contributions can have a big impact on the lifestyle you may
enjoy in retirement,” says Damien, “so it is important to seek advice on how you can make your
super work harder for you.”
Check your life insurance…
There are two reasons you should regularly review your life insurance cover: i) to consider
whether or not you are paying too much, and ii) to consider whether you are putting yourself and
your family at risk by paying too little.
“Life insurance policies may need to change after each major life event,” he says, “whether that
is buying a first home, starting a business, having children or preparing for retirement.”
“We can check to see if your current level of insurance may be appropriate for your needs, and
if not, help you to make any changes to your existing cover or recommend new policies that
may cover the gap.
“While you might find your existing insurance cover does not need to change at least you will
have the opportunity to explore different options for paying your premiums under the guidance
of an expert.”

2. The information (including taxation) contained within this document is of a general nature only and neither represents nor is
intended to be personal advice on any particular matter. We strongly suggests that no person should act specifically on the basis of
the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.
What else could you consider?
Health insurance
At this time of the year you could consider taking an even broader view of your financial
situation and looking at whether your health insurance is appropriate for you or if it needs
updating.
Perhaps you want to speak to your financial adviser about making funds available in your cash
flow to increase your premiums so you can take out a more comprehensive level of cover as
you prepare for a new year?
Your mortgage
Understanding how your home loan compares to other loans could potentially help you to save
thousands of dollars in interest and pay off your loan sooner.
“Home loans with new features and better interest rates are launched all the time,” says
Damien, “with the aim of attracting new home loan customers.”
So why not use this to your advantage and speak with your existing lender about getting a
better deal?
“But don’t just focus on the interest rate,” Damien adds. “You should also consider the fees that
are attached to your loan and compare them to similar loans from other companies.”
“We can introduce you to a mortgage specialist for advice around lending, what you are
currently paying and if there is anything you could be doing differently.
We regularly work with mortgage specialists to explore opportunities that can include re-
structuring cash flow and diverting surplus funds to your mortgage to pay it off sooner.
To find out more about reviewing your financial position, contact Martelle on 07 5538 3088 to
make an appointment.