The end of the financial year isn’t just about reconciling receipts or meeting with your accountant. It’s a milestone – a timely opportunity to reflect on the bigger picture of your financial life.
At Wealth Architects, we view EOFY as a chance to check the alignment between your day-to-day financial habits and your long-term vision for freedom, security and success. It’s when we sit down with clients and ask: is your current strategy still the right one for the life you’re building?
Here’s a closer look at six areas we believe every individual or family should review as June 30 approaches – and how they work together within a structured financial blueprint:
- Cashflow: Are you using your income with intention?
It’s not about how much you earn, but how you use what you keep. EOFY is a great time to revisit your spending patterns, savings rate, and investment commitments. Are you allocating money in a way that reflects your values and future goals – or are old habits quietly holding you back?
- Superannuation: Are you making the most of it?
Your super is likely to be your largest retirement asset, yet for many, it’s a set-and-forget afterthought. EOFY is your opportunity to top-up contributions, take advantage of potential tax benefits, and ensure your investment strategy is aligned to your life stage and retirement vision.
- SMSF minimum pension requirements: Have you met yours?
If you’re drawing a pension from a self-managed super fund (SMSF), it’s essential to ensure you’ve met your minimum pension drawdown requirements by 30 June. Missing the threshold can affect your fund’s tax concessions and compliance status. This is one of those simple but critical checks, and a great reason to speak with your adviser.
- Insurance: Is your cover still relevant?
Life moves quickly. Changes in your income, family, debts, or business responsibilities can mean your insurance strategy needs to evolve. EOFY is a critical time to check that your life cover, income protection, and TPD are still sufficient – and not costing more than they should.
- Estate planning: Are your wishes clear and current?
Estate planning isn’t just for retirees. If you have dependants, assets, or people you care about – it matters. EOFY is the perfect prompt to review (or finally create) your will, power of attorney, and any trusts or beneficiary arrangements.
- Strategic investment: Are you investing with purpose?
Markets change. So do your goals. EOFY is a great moment to review your portfolio allocation, rebalance if needed, and ensure you’re investing in a way that supports your timeline, tax strategy and broader financial blueprint.
At Wealth Architects, we believe good advice doesn’t just answer today’s questions – it anticipates tomorrow’s possibilities. EOFY is your moment to pause, reassess and move forward with clarity.
Book your blueprint review with your adviser.