GROWING

KIDS

For those with families, it seems that we are paying more than ever and the numbers are in to back up our hunch.

For those with two children, the average cost of raising your children has risen to $812,000*.  That’s a 50% rise in the last 8 years. However, household incomes over the same period have only grown 25%.  That means that the growth in the cost of raising children is double that of income growth.  Those with any more than two children will be pleased to know that research shows a sliding scale of costs once there are three or more children.

Childcare, education, food and transport are all contributing factors to these ever-growing costs.

Older children also cost more to raise than younger children. The cost of raising a teenager can be three times that of a baby or toddler.

 

GROWING YOUR FAMILY – TO WORK OR NOT TO WORK?

Do you have all the numbers to consider the best option for the secondary income earner to return to work? How do you calculate if the government incentives for childcare outweigh the increases to your taxation?  Will the net take home pay be more or less?

This is a matrix which should be considered carefully, before planning the next step in growing your family.  The results may surprise you.  We are experts in navigating through a complicated overload of information-rich material and we will arm you with the exact facts and figures which will help you plan the next step in growing your family.

Or, if you are a single parent, what are your options around returning to work?  Some solid number-crunching is needed to be fully informed.

 

COST OF UNIVERSITY

Statistics show that private education and then funding for university becomes the number one cost of raising a child for middle and higher income earners.  The average figures are just short of $200,000* for a family of two children.

That is a hefty sum to uncover, especially as children are nearing high school with plans for their future looming.   We work with our clients to plan for this early on, so there are no surprises as their children are growing older.   A University fund is a smart way to provide choices for your children around their hopes, dreams and career choices.  We can show you how to do this, and enjoy their high school graduation, instead of living with a little fear and panic inside.

 

CASHFLOW AND BUDGETING

Hows does a family plan, budget, save AND ensure there is enough for a lifetime of family expenses?

How to manage debts ?

What is Debt Recycling, and how can it help me ?

Contact us today so we can help you plan for this wonderfully exciting Growing time of life.

HOME LOANS

A growing family needs flexibility.  Many situations have found that families can be stuck in a home loan which doesn’t meet their needs.   Attracted by a super cheap rate, which looked good at the time, though when needing a “mortgage payment holiday” during maternity leave, they became a little …unstuck (so to speak).

There are over 64 different lenders and home loans.  And finding the right solution for a growing family is crucially important.  Don’t leave it to chance or think that cheap is the best solution.   You need a home loan that works with your plans for the future, and one size does not fit all.

What should I look out for in a Home Loan?

If you would like us to help you find the best Home Loan# for your needs or discuss your current loan feel free to contact us.

SUPERANNUATION

Understanding how Superannuation can benefit a growing family, is important.  Superannuation can be a tax efficient investment structure fueling your plans for the future. The longer you are investing into Superannuation the better your retirement lifestyle can be.  And it can also provide a structure for your Life insurance protection plan.  The advantages of investing in Superannuation whilst building and growing your family are numerous. Though retirement may be the last thing on your mind during the busy family growth phase. Like any investment, you should seek the advice of an expert team to ensure you are taking advantage of all the benefits available within Superannuation, and we are only too happy to help.

How do I get the most out of my Super?

Is Superannuation important when your family is growing ?

PROTECTING THE FUTURE

With all of the costs involved with growing your family, raising children, funding their future and providing travel experiences, you can’t afford any hiccups along the way.  Everything you plan for is based on your ability to provide income into your household.

But what if your income stops tomorrow?  Is your Income Protection cover adequate to cover the complete loss of income, and pay taxes, and pay increased medical expenses?

Protecting what is valued the most – FAMILY – is easier than you think, and is a vital responsible action that every parent should take.

No-one wants to think about it, but an accident or illness can stop the income flowing through, with an unimaginable suddenness.  What would your solution be ?

A tailored protection plan steps in when you can’t.

Do you have enough Life insurance to cover your family’s living expenses?  We have calculated the cost to raise two children on average is $812,000* over their lifetime.   Add to that, enough to payout the mortgage.  Do you know how much you actually need?

How do you know which insurance is needed during different stages of life ?

What is Life insurance and who needs to be covered ?

Exactly what is Total and Permanent Disability Insurance ?

Is Trauma Insurance necessary ?

Planning your estate – get the facts…

*Reference:
AMP.NATSEM Income and Wealth Report Issue 33 – Cost of Kids: The Cost of Raising Children in Australia
http://www.natsem.canberra.edu.au/publications/?publication=ampnatsem-income-and-wealth-report-issue-33-cost-of-kids-the-cost-of-raising-children-in-australia


Contact Evalesco for more information