Why financial advice can be valuable in tricky times

With costs rising and financial markets looking uncertain, many Australians are turning to advisers for help. Here’s are three ways our trusted financial advice partner may be able to assist you.

When it comes to money challenges, the past year may have felt like a perfect storm. We’ve seen interest rates rise, the cost of living has climbed steeply, and the share market has been bouncing around.

It has left many people, both within and outside the police force, wondering how to navigate these challenging economic times.

Given the unpredictability, some are turning to financial advisers – like Police Bank’s Chelsea Wealth – to help create a budget, managing repayments, invest for the future, and make the most of superannuation.

While there are thousands of qualified advisers in Australia (you can do a search here to check an adviser’s credentials), Chelsea Wealth has specific experience looking after police.

Three ways Chelsea Wealth can help

1. Navigating benefits for experienced officers

If you were employed by the NSW Police Service prior to 1988, some of your super savings may have gone to the Police Superannuation Scheme (PSS).

Chelsea Wealth has plenty of experience helping members of this scheme work out their entitlements, along with decisions around whether to take a lump sum or pension.

2. Making the most of other super entitlements

Chelsea Wealth has also helped members maximise their retirement savings by taking advantage of the State Authorities Superannuation Scheme (SASS) contribution matching.

Under the scheme, members who make additional personal contributions to their super (up to a limit of 9 per cent of their annual salary) can have some of those contributions ‘matched’ by their employer. Essentially, by adding extra money to super, members can accrue benefit points, which equate to extra entitlements at retirement.

Chelsea Wealth can also help pre-retirees with Aware Super and other funds work out how to add to their nest egg in a tax-effective way and how much they need for a comfortable retirement.

3. Managing cost-of-living changes

Rising costs have left many homeowners and renters with less cash to spend each week or month.

Chelsea Wealth can help find ways to offset the pain of these economic changes; that could mean finding a more suitable mortgage package, tax-effective investing, minimising discretionary expenses or accessing all the benefits for which you are eligible.

Whether you’re struggling with the current financial climate or would like help setting yourself up for the future, Chelsea Wealth advisers are here to help – today or down the track.

Click here to learn more.

General advice warning:

The information provided on this webpage is intended to provide general information only and the information has been prepared without taking into account any particular person’s objectives, financial situation or needs. Before acting on such information, you should consider the appropriateness of the information having regard to your personal objectives, financial situation or needs.