FACTORS THAT MIGHT AFFECT YOUR FINANCIAL PLAN
Once your financial plan is prepared, it is important it is reviewed regularly. Life changes rapidly, and these adjustments can affect your personal and financial circumstances in a blink of an eye. Some factors you have some control over and others you don't.
Let's look at some events that can affect your financial plan:
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External Factors |
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- amendments to superannuation law
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- changes in taxation legislation
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- fluctuating interest rates
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- rising inflation and unemployment
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- the eldest child is starting school
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- a promotion and pay rise at work
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- oscillating investment returns
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As we all lead busy lives, most of us don't have the time or expertise to stay ahead of our changing environment and how it can impact on our financial goals. This is where a financial planner and a regular review will prove valuable.
