Getting financial advice and making a plan can help you achieve your medium and long-term goals. Far from being a complicated process, it’s really quite simple.

Protecting your lifestyle – a case study

You work hard to maintain your standard of living. But what if something unexpected happened and you were unable to work?

Income insurance helps protects your lifestyle, and gives you priceless peace of mind.

Nick is a self-employed painter, supporting his wife Jen and two young kids. Unfortunately, he fell heavily while surfing, injuring his back. He needed extensive rehabilitation therapy and was unable to work for 36 months.

As Nick was the primary income earner, his family relied on Nick’s income to cover living expenses, pay the bills and the mortgage. Without his income, they would have quickly used up all their savings.

After the waiting period he chose for his policy, his insurance paid him every month until he was able to return to work. This money provided valuable assistance to help meet expenses and helped Nick and his family keep their home.

Investing for the future – a case study

Alex and Kate received a $100,000 inheritance and weren’t sure what to do with it. They were paying off a mortgage and had two children starting school in the next couple of years. Alex was a self-employed electrician.

They’d thought about putting the money towards the mortgage, buying a new car or going on a European holiday, but remained undecided. Eventually, they spoke to an AMP Adviser.

Advice from their AMP Adviser

The AMP Adviser met with them for an initial free consultation. After looking at their financial situation and goals, he recommended they repay the outstanding $50,000 on their mortgage and invest some of their inheritance in a managed fund to help pay for the costs of raising and educating their children.

By taking into account when they would need to start using the money and how much risk they were willing to accept on their investments, the AMP Adviser recommended they invest in a diversified, multi-manager fund. He also recommended they contribute an extra $200 per month to the fund.

Protecting Alex’s salary

As Alex was self-employed, their AMP Adviser recommended Alex take out income cover in case something happened and he was unable to work for some time. This would provide Alex with up to 70% of his normal monthly earnings.

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A disclosure statement from your Adviser is available on request and free of charge.