Planning For Your Retirement

Do you have plans for your retirement? Whatever you wish to do with your time after work, whether it’s spending more time with the grandchildren or travelling around the world, you need to ensure that you have the necessary savings to fund your retirement dreams.

Therefore, it’s important to seek sound financial advice when making any major decisions surrounding your future; however, before you start looking for a financial adviser, it is important to be clear about what you can expect from the process. Only by giving very clear instructions in what you want to achieve when saving for retirement, can you receive financial advice specific to your particular situation.

When developing a retirement plan you should consider your changing work patterns. Do you want to stop work completely or perhaps work part time? As it goes, changes to your work patterns can have both lifestyle and financial implications.

In addition, would you prefer to place your savings in a pension scheme and/or a savings plan? If this is the case, what type of pension? Of course, you will receive a state pension but you may also choose to invest in a personal, stakeholder pension or company pension.

But whether you talk to your bank or an independent financial adviser (IFA), your adviser will more than often provide you with information about: the services they offer, the costs of their recommended products and what they charge for providing advice. Although, it is important to understand that all advisers must follow FSA (Financial Services Authority) regulations when selling personal finance products, such as pensions and investments.

Indeed, the sooner you save for retirement, means you can potentially have more funds available for when the time actually comes to retire. But if you are just starting to save, a financial adviser can provide advice on what state pensions are and how much you’ll need to save each month. Of course, you can research such information for yourself, but seeking financial advice from a specialist before you make any decisions can save you both time, and money.

Furthermore, your adviser can review a range of investment options to create a tailor made retirement plan for you. It is important to note that this will be based on their knowledge of your finances and the various products available.

And if you already have an existing company or personal pension plan in place, your financial adviser can also work with you to review your options. As such, this can help ensure that your money is in the best place possible to make the most of your investment.

Therefore, plan ahead to ensure that you can live your dreams in retirement; seek financial advice early to create a bespoke retirement and savings plan, which can then help you move that little bit further towards achieving a comfortable retirement.

Accounting Services for Small Businesses Made Easy

Recording the movement of funds in any business is an essential task that is regulated by government agencies such as the ATO and ASIC. Large companies typically hire bookkeepers, registered accountants and a team of accounting clerks to keep business records accurate, accounts up-to-date and financial statements timely lodged. While small businesses still need the same bookkeeping support, the associated costs make it unfeasible to maintain a regular team for accounting and services related to record-keeping. An online accounting service that is less expensive, reliable and professional is the ideal solution for small businesses.

Benefits of accounts on line services

Access to accounting services: Internet technology and sophisticated applications enable professionals to render services offsite or remotely to any location with Internet access. Services such as consulting, copywriting, and bookkeeping are among the increasing number of activities that are available to businesses. The quality of accounting services, whether onsite or offsite, remains the same because the system is based on standard accounting procedures.

Less accounting errors: Accuracy and correctness are important features of bookkeeping. Following a system developed and overseen by an accounting expert minimizes and addresses any accounting problems at the earliest opportunity so clients are assured of relevant financial data that pass the scrutiny of government agencies.

Time saver: With a professional service taking care of the essential bookkeeping tasks, business owners have more time to focus on other equally important aspects of the business such as marketing, product and business development and sales.

Cost savings: Professional fees are ordinarily time-based and can amount to large sums, most of which may be for the accountant’s travel time. An offsite or remote service eliminates this cost which results in significant savings for a business. An external service also eliminates the need to hire a regular bookkeeper, freeing up resources for other operating expenses.

When choosing an online accounting service, a business owner must consider important factors such as the scope of services, reliability of the accounting system, professional support, related services and cost. For remote services, the provider should be able to extend additional support in the form of video conferencing, email communications and electronic document transfers.

Tax season and periodic lodging of essential documents can be a source of headache in business. Regulatory agencies require businesses of all sizes to maintain accurate financial records for several years and observe deadlines for lodging certain documents. An online system for accounting and services connected with bookkeeping takes care of data recording and financial analysis to ensure accurate reporting and timely lodging.