Navra Financial Plan

I wasn't sure if I should post this in Strategy or Accounting but anyway. I have a few questions if anyone can help?

I am going to get Navra to do a financial plan for me, I am in the process of finding a decent accountant and I have one in mind but I thought.

Do Navra have accountants that they recommend in WA?

The other thing was, do I show the plan to the accountant? I assume I do but sometimes the obvious is not always so!

One last question does anyone think it would be wise to hold off six months or so to see what this Australian stock market is going to do? With an Election coming up and christmas would this slow a correction down a bit?

Regards
Chomp

Hi Chomp, we had a financial plan from NavraInvest some time back and are very pleased with the outcome. As for waiting for a correction you can wait forever. The real truth (our truth anyway ) is that nobody really knows what is goimg to happen. Just consider how many 'gurus' got caught in the 87 crash, the recent (and ongoing) US sub-prime issue and many other corrections, crashes etc. The sooner you are in the market the sooner you can start making some money and if the market moves against you as it certainly will at stages that is just part of the investing process. Hopefully whichever fund or shares you invest in are strong enough to weather any storm and recover positively from it.
Best wishes with your investing

One of our clients in WA has an accountant whom we have had discussions with who seems pretty good, PM me for details.

That's up to you. Ideally, your planner and accountant should at least have some line of communication going if necessary, but it's not essential. As long as they both understand what the other is doing it's all good. Your first priority should be finding an accountant and planner who understand investing and are comfortable with working with you to achieve your goals (assuming your goals are realistic).

Mark

Hi Pudsa, thanks for the feedback, I suppose everyone is wondering what is going to happen regarding the stock market.

I guess I am a little wary, the way i see it is if i lose 50% straight up then I need a 100% gain to break even.

Hey its good to see your FP is going well, hope it carries on well into the future along with mine!

Regards
Chomp

Hi Mark, Thanks for your feedback as well, I had a good search on SS last night (well it didnt take long at all). Gotherumgoss seem to be popular and I would be stupid not to value peoples opinions on that site and this one. They are in Melbourne but the old Tinternet should help!

I think your right, It does make sense to keep them both in the loop, I had a quick look at their website and they seem to be on the same page as Invest & SS so hopefully it should all go smoothly.

Regarding my goals for being realistic. What is realistic? is that like being normal? I read through the Fact Find PDF and it seems like I have to lay my whole lifes expectations out but how would I know. Might pay to aim High! But how High is that?

Regards
Chomp

Being realistic means looking at your current situation and setting goals that you can realistically achieve. There's no point in saying 'I want a $1 million p.a. income in 12 months time' if you have no assets and make 50K.

The fact find is that detailed because it needs to be. The more your planner knows about your financial status, the better the advice can be tailored to your individual needs and circumstances.

Also, I work for Navra, in case you didn't know.

Mark