Why Your Savings Rate Matters More Than Returns

Yves SchoofFinance

I came across this excellent article recently, which reinforced the thoughts I have expressed in previous blogs.

To save you some time, here is the summary:

• On your wealth creation journey, the first $100,000 often takes the longest to accumulate. Each subsequent $100,000 takes less and less time to accumulate.

• The amount you save matters more than your investment returns in the early years.

Your responsibility is to focus on what you can control.

This means focusing on:

– increasing your income,
– keeping your lifestyle expenses under control,
– minimising investment fees; and
– maintaining an asset allocation that aligns with your financial goals.

If you hope to achieve financial independence early in life, you will be better off focusing on these variables you can control rather than chasing investment returns, which are largely out of your control.

If you are like many of our young medical and dental clients, who want some assistance on this wealth creation journey, please reach out via Yves@affluenceprivate.com.au
We assist our clients with setting up simple but effective strategies and savings plan.

You can read the full article HERE.

Yves Schoof
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Yves Schoof

Author | Specialist Adviser for Medical Specialists and Surgeons at Affluence Private Wealth
I specialise in managing and coordinating the financial affairs of medical professionals and have been recognised as one of the best financial planners in Australia. I am a Certified Financial Planner and member of the Financial Planning Association of Australia.

As I understand your time is extremely valuable and scarce, I am able to offer flexible meetings times, including outside business hours and during the weekend. I can even come and meet you somewhere convenient, or talk via videoconference on Skype.

My first consultation is free. I allocate up to 90 minutes to discuss your personal circumstances and to establish how I may best assist you. Where you already have an existing adviser, I would be happy to offer a second opinion. I always quote a fixed dollar fee before we start working together.

Please contact me on yves@affluenceprivate.com.au or call me direct on 0432 885 295. You can follow me on Twitter @YvesSchoof or connect with me on LinkedIn to receive new articles.

DISCLAIMER
Yves Schoof and Affluence Private Wealth are Authorised Representatives of Synchron, AFS Licence No. 243313. 

The information posted is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs.
Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making a decision.
Yves Schoof
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