Despite the importance of getting good financial advice, there are people who simply cannot afford this ‘luxury’. Subscriber Joy would like to know what you can do if this is the case.
As is often the case, those who need something the most can seldom afford it. I need advice in planning my retirement but I simply can’t afford to pay for it. What do I do?
A. The Government is trying to change the way in which advisors can charge for their services, but this doesn’t necessarily mean it will become more affordable to those who need it most.
However, this is where the internet comes into its own. There is a wealth of information and tools available online which can help you to become informed about your own financial positions, what your retirement investment options are and how you can successfully create your own financial plan. The best site, and one which we are more than happy to recommend, is Moneysmart.gov.au. This site is packed full of useful, plain language information which will help you to gain a better understanding of your financial needs.
For more information, visit Moneysmart.gov.au.
Centrelink also offer a face-to-face financial information service which is free of charge. Independent counsellors can help you with financial information to enable you to make informed investment decisions. They will also have a look at your current situation and advise to which Centrelink benefits you may be entitled. To make an appointment with a Centrelink Financial Information Services officer, call 13 2300, or visit Centrelink.gov.au.
If you’re struggling with your budget then perhaps a financial counsellor can help. An Australian Government funded program, the Commonwealth Financial Counselling Program (CFCP), provides free counselling to those who need help with budgeting, bills, debts or financial advocacy. You can find out more and details of a counsellor near you, by visiting fahcsia.gov.au.
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