Sunday, 23 December 2012

guide about Financial planning

Financial planning strategies

Author: Geoge Mathew
Tips For best Financial planning Superannuation is a payment done to an employee regarding their future needs by the organization.  There are superannuation funds where employee's super is collected. The employee is provided a fund according to his job but he can transform his fund if he wants. Select the appropriate fund so that you will not face any problem related to finance in future, you can live comfortable life. How you will get to know chose that there is a need to change your fund? Compare few things like what fees you have to pay for each of the fund, investment options provided, extra benefits given to you, any insurance plan. Also check their services and performance by reading their brochure or getting the information by browsing their website. Knowing all the type of funds helps you better in choosing the type of fund you want. There are main five types of superannuation funds which are-retail funds, industry funds, public sector funds, corporate funds, small super (APRA) funds.  Retail funds are main profit funds. Small super funds are self managed superannuation funds; these are generally managed by four to five individuals or a family. Industry super funds are low cost and accumulation funds. Corporate funds are for the employees of a particular organization. These funds are generally not open to those people who are not related with the organization. Public sector funds are for those employees who are employed at governmental organizations in most of the cases.

Everybody wish to live a healthy and wealthy life without any problems and to fulfil his/her dreams. There is a term named wealth creation in finance world. Wealth creation is an arrangement of collecting large amount of money. This can be done by increasing your salary, investing in some work where you get revenue or by engaging yourself in some other productive job. And the important thing is reducing or eliminating your debt. There are so many wealth creation plans to help you in a better way financially.

TPD is total and permanent disability. Anyone can go through from this dangerous time period where you are not able to do any work, to earn anything. It can affect your financial conditions to a great extent and also your family. There are life insurance policies which help you financially but only if you die or have temporary illness. Then what to do in case of permanent illness in which you are not able to go back to your work. There is TPD insurance facility to cover this condition. But it differs from company to company. Under TPD insurance, company will give you amount of money to pay your debts, family and household expenses, your medical expenses in order to maintain your same life style. Total and permanent disabilities insurance is only applicable if there is a physical loss of both the arms, legs, eyes or limbs to the person and medically proved that you cannot do your work again. Now-a-days, many life insurance policies also include the option for TPD insurance. You have to read the insurance agreement of the organization carefully.
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About the Author
Financial Advisor for 360financialadvisers, One of the Best mortgage brokers and financial planners in Melbourne. He has written articles on financial planning and wealth creation for