Words of advice from one of top 50 financial advisers
IF YOU are after financial advice, you can be sure the best is already in your backyard.
And the good news is, you don't have to have stacks of cash to see one.
That's according to Ballina financial adviser Les McGuire, owner of Future Proof Financial, who has been named in Australia's Top 50 Financial Advisers.
US financial investment publication Barron's and The Australian's business magazine The Deal presented Australia's comprehensive list of financial advisers, which saw both Mr McGuire and Mark Schultz from Elston Ballina make the list.
Mr McGuire said his most important piece of financial advice was cash flow.
"Debt is one of the biggest things that crippled most Australians," he said.
"By making some changes to loan facilities and payments and the way that's done, makes significant differences which improves cash flow and quality of life. Unfortunately when people are doing it tough it leads to many more issues personally.
"When we talk about investments i.e. shares, property... it's about understanding what the return is.
"The great Aussie dream is to buy investment properties but so often people do that and the return on investment they get (yield return) is quite low so they tie up a lot of cash flow in large amounts of debt for a low return on capital.
"So when we talk with people we talk about liquidity and return on assets to how their money can work better."
Future Proof Financial gets referrals from Sydney, Brisbane and Melbourne, but the services are there for regional-based people to take advantage of Mr McGuire said.
"One big thing we do within the business is every bit of advice we give is based around people's actual goals through our goal 360 advice engine.
"People want get married, go into holidays, get a house, pay off debt, buy a car... we can factor every single one of those goals into a plan for them to ensure they can achieve it."
Earlier is better when it comes to setting up your future.
"You speak to many 55-65 year olds and they say 'I wish I had of come to you 10 or 15 years ago'," Mr McGuire said.
"We find too many people that might go to a financial adviser somewhere - all they plan for is how much money you need for retirement, but isn't it more important people get to enjoy their life as they go along whilst also appropriately investing for their future and retirement."
The biggest thing Future Proof Financial hear from people is the belief they need to have lots of money to get financial advice but Mr McGuire said that was incorrect.
"What I find in country towns and this region is sometimes they don't act upon what they should do to give themselves an opportunity to achieve better outcomes.
"There are advisors out there who wont see clients without a minimum of $1 million, but growing up in Lismore with a great family but without a lot of money, but I believe we do help mums and dads and children achieve their goals, and we also deal with some of the wealthiest people in the country. I believe everyone has the right to receive advice.
"The achievable outcomes are huge by taking the time to invest in the self by coming and seeing someone."