Getting your head around your personal finances can sometimes seem like a daunting task.
Take the example of Hilary. She loves going to the theatre, socialising with friends over coffee on the weekend, and hopes in the near future to comfortably retire.
Hilary hopes to accomplish this using the wealth she has built up over her working life, but struggles to keep on top of what is happening across her many financial accounts. She has four bank accounts – a transaction and online saver with one of the big four, a high-interest savings account with a smaller online-only financial institution, and a transaction account that amongst its benefits provides fee-free ATM withdrawals while away on holidays. And although Hilary does not have to worry about a home loan any more, she does have two credit cards, a term deposit, an industry superannuation fund, and a small portfolio of shares.
Adding those together, that may be at least five separate financial institutions that Hilary needs to remember online account details for to log in and form an understanding of her financial position.
Abbotts, with the assistance of software like myprosperity, can support Hilary through her personal wealth journey. With the help of the myprosperity personal wealth portal, she can organise her entire financial world in one place.
On myprosperity, Hilary will be able to:
- View a live balance sheet for a comprehensive view of her net worth
- Categorise her cash flows, and set budgets for her spending
- Have a location to securely store all of her valuable information and documents online
- Share information on her financial position – both net worth and cash flow – with her trusted financial adviser at Abbotts
With the use of the myprosperity personal wealth portal, it can offer valuable insights into how to better manage and grow your wealth with the assistance of your trusted advisors.
We will support you through your personal wealth journey, no matter what stage that may be. To get in touch, please fill out our contact form here, or alternatively give us a call at 08 9321 2642.