Income, where does it go. It is
required to fulfill our every material need from our parents requiring an
income, when we were babies, to when we go off into the big wide world as young
adults fending for ourselves.
Then of course you bring your own children into the world and
then an Income becomes very important as it is required to rear your own
children and the cycle goes on, into retirement. The source of the income will
change to one of being self funded in retirement or a combination of both, with
support from the federal government through the many different pensions
available. The third one being totally dependent on federal government pensions
in your retiring years.
Australians insure assets but statistics show that we do not give
credit to insuring our ability to earn an Income, yet it is required to
ascertain the assets that we do insure like cars and homes. The relevance here
is many people rich and poor do not manage income well. The very source for
which we all rely to survive and prosper in this material western world is
often taken for granted. With twenty to thirty years of credit boom we are a
culture of spenders and do not pay enough attention to saving or being prudent
with our surplus funds. One reason for this, is people have little time to
dedicate to managing the household bills let alone the future path of where the
families wealth is headed.
Over a persons working career,
much of ones income is not managed very well nor given the attention it
deserves with respect to managing it efficiently. Australians have a very big
problem with not having enough disposable income to last more than a month or
so. People do not pay attention to where all of their income goes and you might
be one of these but it is hard, to discover your after tax financial position
for you and your partner.
New Prosperity has been purpose
built to empower you to understand your total family’s finances, from many
different aspects. All reports articulate client partner and joint ownership.
- After taxposition
- Summarised reports for Assets & Liabilities
- Summarised reports for expenditure
- Summarised reports for your gross taxable income
- Mortgage manager feature to discover how best to manage all your personal debt
- Bill reminder feature to keep on top of expenditure habits
- Budget feature where you can look at expenditure in table and chart format
All reports and screens are very user friendly and easy to read. We
have taken all of the complex accounting terminology out of the figures.
By subscribing to New Prosperity you will get a very comfortable
feel of where you are headed financially, being empowered to investigate the
impact of all financial decisions for your home before you commit to any such
decision. Pressure testing your household surplus, before a financial commitment,
is made. Making financial decisions in this manner allows you to be more
informed about the long term risk to your families wealth.
Plus many more ways to become familiar with your family finances and
ability to create wealth no matter what Social standing you are a part
Once your information is set up in New Prosperity, you can run scenarios
and discover the impact on your Household cashflow, with respect to any
personal proposed financial decision.
New Prosperity is based on the current financial year so all your scenarios are
looking at the post tax position and cashflow perspective in the current
financial year. New Prosperity will forecast, your end of year financial
position, for each scenario.