There’s nothing like the feeling of achieving a goal, particularly one that’s taken decades to get across the line. For many of us, one of the biggest is paying down our home loan mortgage.
Owning our home outright is often the foundation to living financially stress-free and having a comfortable lifestyle once we choose to stop working.
But once you’ve got your mortgage paid out or down to a manageable level, what should you do next?
This is where I fit in as your financial planner and you benefit from my decade of experience in financial advice. Together, we’ll look at your options and design a personalised financial roadmap to build on the strong financial position you’ve reached. We’ll look at where you are now and where you want to be in the future and map out the best strategies to get you there.
I’ll help you navigate the rules around getting money into superannuation and choosing the right platform and underlying investments. We’ll look at where to direct the extra money you’ll have each month once your mortgage repayments cease, which may include setting up an investment portfolio.
We’ll reassess what sort of emergency buffer you’d like to hold in your bank account. Your life insurances will need reviewing and perhaps reduced in line with your lower debt position.
Working through these strategies on your own can be pretty difficult to get right. Not to mention time-consuming. If you’ve got your mortgage under control and you’re looking for qualified professional financial advice, reach out and start a conversation.
I’d love to start working with you to design your personalised financial roadmap.
I’m Luke Hanson, Financial Adviser and Director at My Financial Design. A financial planning business in Wynnum giving advice to Baysiders and people all over Brisbane and beyond.