Amplify Wealth Management is a boutique business that focuses on the building wealth and financial independence of its clients. It’s a very personal service. Our clients find great peace of mind knowing they have a plan in place, that’s delivered in a relaxed yet efficient manner. It’s a plan that suits them but it’s also a plan that can adapt and change with them along the way. What do you see as the biggest financial gain for Australian contractors right now? Contractors are fortunate in that they are able to take advantage of salary packaging which can, potentially, minimise tax. How would you rate Australians in terms of their management of personal finances and planning for retirement? On average about a 4 out of 10! We have become a society of “I want now….” And so people don’t plan for their future. Superannuation is an amazing investment vehicle but again most Australian’s don’t pay too much attention to their super. It’s boring and complex so they ignore it! If you were to give your 18 year old self one piece of advice what would it be? Salary sacrifice 5% of your wage – always. You won’t even notice this small amount out of your pay but the wonders of compound interest will make a HUGE difference to your super at retirement! How often should Australians review their financial planning? As a minimum you should review your plan each year – nothing may have changed but your adviser is also there to help keep you accountable and on track to achieve your goals. If you have a more complex situation you can nominate up to 4 reviews a year if you wish. It’s a personal thing, some people want to know their adviser to call them regularly, while don’t want to hear from you all the time, they just want to know you are looking after them. What’s the biggest risk for contractors in relation to finance? Often it’s cash flow. Contractors earn great money but can sometimes have gaps between the end of one contract and the beginning of another. Planning ahead for those “in between times” can be important. For others it may be difficult to get finance approved as a contractor – we work with experts in this area to make this happen. If you would like to hear more about financial planning for wealth or ask Tanya a question then why not join us for our first Contractor Seminar, Pathway to Wealth, with Tanya Carlson. November 12th 5.30 – 7.30, Suite 30, Jones Bay Wharf, 26 – 32 Pirrama Road, Pyrmont. To book: Just send an email to clare@ayers.com.au with the words ‘Pathway to Wealth I’m in’!