Getting the Simple Things Right

Getting the Simple Things Right

Isn’t great to be in business for yourself with your family? No bosses, no clock, no targets and of course no stress!

Yes, I know – I can hear you from here: “You can’t be serious! I have never worked so hard in all my life. The toughest boss I have ever had is me! No clock? How is it I always get out of bed before the sun? No target? If I do not achieve my own self-imposed targets we are below the bread line!”
Have you ever wondered if you are doing it right, you know, the business thing?  Is there a better way to do it? Do I need help, and just how much will that help cost? It all seems too hard and, hey, it’ll all be OK, (I think?).
Many of you will probably feel to get it right might not work for you – you are different. The truth of the matter is that many small business owners are in the same boat as you – that’s right, you’re not alone. The ones who make it all look too easy are the same ones who get the help. That is their secret, and that is why it looks easy for them.
During our short time Finance For Life have been associated with the Australian Newsagency Federation (ANF), we see many people that do not really have relationships with their bank or, for that matter, with their accountant. We see loans where people are paying far too much in interest on their loans with their current banks and their financial accounts/tax returns from accountants do not suggest the newsagent can borrow any more money. Things can look grim!
There is a way, but you have to play by the rules to get back on track and show your real worth.

  • Do you know the tax threshold for the different income brackets?
  • Do you know how much you can put into superannuation tax free for your age?
  • Have you asked yourself how much money will I need to retire on?
  • Do I have my loans structured correctly?

These are all questions many of us carry on in business and never ask ourselves. We at Finance For Life are willing to help you find the answers in a simple process.
We will look at your financial accounts and tax returns and advise you on what changes need to be implemented to bring you back on course. It might seem a simple thing but may have a great result.
Finance For Life will look at all your loans (business loans, home loans, credit cards, creditors, tax debts, and more) and help sort out the confusion.  We will assist you with the structure of all these outstanding monies and get it right for you for now.
Finance For Life has saved small businesses thousands of dollars per annum by just getting the simple things right. Just think of us as ‘your smart financial partner’, someone you can talk to for all your financial needs.

It is also important to consider the end game

Have you considered which station you are getting off the work train at? For some people, the train will simply stop and it will be the end of the line. This will not be the station you intended to get off at.
We are talking here, of course, about succession, the transition from work life to retirement life. In many cases we have heard that the retirement plan for some people is the sale of their business. This assumes that things will continue swimmingly and that the value of the business as it stands today will stay the same. There are many market forces that will influence the final value of your business at the time you decide to sell, and this may not give you the price you imagine.
The time that you spend in your business gives you the cash flow to set aside funds for retirement, to protect yourself against the unforeseen future.
At Finance For Life we again can simplify the process towards moving into the retirement period and helping you get off the work train at the station that you would love to live for many years to come.
We urge you to be in the process of planning for your own future now. It does not matter how many years remain in your current plan. The sooner you start the process of planning and structuring your current commitments/liabilities, the better the end game will be.