In Australia, the term “high income earners” typically refers to individuals or households with earnings of a significant amount above the national average, and while there is no strict definition, those who fall into this category often earn more than $100,000 annually.
The professions that usually make up this demographic include doctors, lawyers, executives, and business owners.
However, it isn’t just work-based income that can contribute to someone being classed as a high income earner. Those with substantial investment income or assets that generate significant returns can also be considered high income earners, especially if these bring in more than $100,000 per year.
At Solace Financial, we recognise the unique needs of high income earners and, as such, we tailor our approach to suit your specific circumstances. We also understand that each client has their own distinct personal and financial aspirations, so we follow certain steps to ensure these are met.
Our first step involves in-depth discussions to uncover not only your financial goals but also your personal and long-term objectives. By gaining this comprehensive understanding of your priorities, we can align our strategies and effectively plan your financial future.
Enquire NowOnce we have a clear picture of your goals, we create a bespoke financial strategy designed to maximise wealth growth and preservation. This tailored approach takes into account various factors such as income sources, risk tolerance, taxable income considerations, financial position and legacy planning, ensuring that every aspect of your financial journey is expertly planned and executed.
Enquire NowWith your personalised strategy in place, we’ll then guide you through the implementation phase, taking decisive actions to execute planned steps. Whether it involves optimising investment portfolios, leveraging tax-efficient structures, or exploring new wealth creation strategies, we proactively work towards building and safeguarding your wealth for the future.
Enquire NowOur commitment to you also extends beyond initial implementation, and we understand that financial landscapes and goals change over time. Therefore, we conduct a regular review of your plan, staying proactive to identify areas for adjustments or opportunities for optimisation. By remaining vigilant and adaptable, we can ensure your financial strategies remain aligned with your needs and aspirations.
Enquire NowFrom tax complexities to wealth management strategies, high income earners often encounter hurdles that only expert financial advisers can help to overcome.
Below, you’ll find some of the most common challenges high income earners face and how partnering with a financial adviser can offer invaluable support in dealing with them.
High income earners often find themselves grappling with intricate tax laws and regulations, which can lead to substantial tax burdens. With the assistance of financial advisers, these tax liabilities can be navigated more effectively by implementing strategies such as optimising tax deductions and exploring investment options with favourable tax treatment.
Another challenge for a high income earner is balancing your desired lifestyle with your long-term financial goals, and many people find it hard to achieve the right equilibrium between enjoying current wealth and preparing for retirement or other future milestones. A financial adviser can provide objective guidance on this and create a financial plan that prioritises both short-term enjoyment and long-term security.
With so much wealth at your disposal as a high income earner, you may find yourself inundated with various investment options, ranging from stocks and bonds to real estate and alternative assets. Without guidance, choosing the right investment strategy can be daunting and risky, but with the help of a financial adviser, you’ll get access to knowledge and experience that assess risk tolerance and help you create a customised investment portfolio that aligns with your needs and goals. Learn more about our investment advice services.
Principal / Financial Adviser
Masters of Financial Planning
Bachelor of Commerce
CFP®
P (07) 3106 3114 | F (07) 3106 3100
scottq@solacefinancial.com.au
www.solacefinancial.com.au
Principal / Financial Adviser
Bachelor of Commerce
CFP®
P (07) 3106 3113 | F (07) 3106 3100
M 0418 155175
stephenh@solacefinancial.com.au
www.solacefinancial.com.au
Principal / Financial Adviser
Masters of Financial Planning
AFP®
P (07) 3106 3112 | F (07) 3106 3100
giles@solacefinancial.com.au
www.solacefinancial.com.au
Discover more about Giles
Financial Planner
Certified Financial Planner – CFP®
Master of Financial Planning – MFP
Chartered Tax Adviser – CTA
P (07) 3106 3106 | F (07) 3106 3100
joelc@solacefinancial.com.au
www.solacefinancial.com.au
Discover more about Joel
For high income earners, working with a financial planner means that you’ll get personalised guidance and expertise from an adviser that understands the complexities and nuances of your affluent status. You’ll also receive a comprehensive analysis of your financial situation, goals, and risk tolerance, which will result in a tailored strategy that optimises your wealth growth and preservation.
Another benefit high income earners will gain from working with financial advisers is tax planning advice, and we’ll help you minimise your tax liabilities through strategic planning and leverage tax-efficient investment vehicles.
You’ll also be provided with disciplined investment management services, including the creation of a diverse investment portfolio, returns optimisation, and risk mitigation. This, along with the accountability offered by a financial adviser, means that you’ll be able to secure your financial goals and create a prosperous future.
Start managing your financial future and making your high income work for you by contacting us today to book a consultation. Alternatively, fill in our financial analysis form and we’ll get in touch to start you on the path to financial success.
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