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Navra Financial Plan

Discussion in 'Financial Planning' started by Triu, 31st Jul, 2007.

  1. Triu

    Triu Well-Known Member

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    Hi i have read that the Navra Financial Plan is about $5,000 to set up. Is this True bit expensive don't you think? Freeman Fox on charge about $1100 to set up plan.

    why is it so expensive if they are only telling me to invest here and here and do that.

    any reason why? Can i get it cheaper somewhere else?:mad:
     
  2. bundy1964

    bundy1964 Well-Known Member

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    Free if you can do it yourself.......
     
  3. Triu

    Triu Well-Known Member

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    Hi Bundy

    The only thing is getting the right knowlege to put it to work. What structure to use, how to fund negative cashflow for properties, learning about investing for buy and holds and managed funds etc.

    Does Navra course teach you this or still have to find out for your self?

    thanks
     
  4. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    If you think $5,000 for a 80+ page plan (depending on how complicated your situation is) is expensive, you're kidding yourself. The amount of work that goes into putting a plan together (well, one of ours anyway) makes $5,000 relatively inexpensive.

    Frankly, as far as I'm concerned, we are the best at what we do and 5 grand for a plan that includes a lifetime of 'hands-on' support and no entry fees charged on any investments ever is very cheap.

    Mark
     
  5. Nigel Ward

    Nigel Ward Team InvestEd

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    I think they'll lower the plan fee if you end up putting a substantial sum into a fund that pays decent adviser fees.

    Why not give them a call and negotiate?

    N.
     
  6. voigtstr

    voigtstr Well-Known Member

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    Somewhere else in this thread someone said that Navra financial services were only of value if you were already well on your way (I think someone said 100k equity or a couple of ip's).

    What can they do for you if you're only just beginning? In Jan/Feb 2008 I'll be debt free apart from the current mortgage. The current mortgage is 167k on a villa unit in Austins Ferry (Hobart) worth 200k. We want to buy a new place as a ppor sometime towards late next year (although we could do that earlier if there was financial incentive do so) and rent out this villa unit at 210-220pw.

    Has anyone else used Navra when in a similar financial position as myself?

    (Mark I'd be happy to take the conversation into email or pms to determine whether Navra financial would work for me and the missus. I can imagine a 5k application fee being a hurdle to her, although if it outlines a step by step approach I would see the value in it. I already have a budget underway to save approx 20k during 2008, if 5k could accelerate me towards financial independence I would be happy do so.)

    Another question does does Navra Financial Services consitute tax advice and accounting advice as well as finacial planning?
     
  7. crc_error

    crc_error The Rule of 72

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    Freeman Fox plan may be cheaper, but they charge I think 3% entry fee into funds. This is what I didn't like about their pricing.

    So if your investing $100k, thats another 3 grand in their pocket, plus the $1100, so I guess that would still work out cheaper.. Plus with FF you get access to their seminars and market fox.

    I personally Like Freeman Foxs 'style', but I'm not sure what style Narva have so cant comment on it.
     
  8. crc_error

    crc_error The Rule of 72

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    I know Freeman fox has a few levels of 'membership' which are tailored to people at different levels. Prehaps give them a call as well.

    I recommend attending their welcome to wealth seminar (or get them to send you a DVD) and see if their investment mythology fits with you.
     
  9. Triu

    Triu Well-Known Member

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    I have seen the DVD welcom to wealth it is quite good. Though if the Navra Fund does give you all that help to achieve your financial freedom well i think it is worth looking investing in for sure.

    Mark are you from Navra? I did not realise that the $5,000 was a hands on support for the life of the investment plan. In the past I have been to other FPlanners and they have not really given me anything that i could work with apart from just invest in these managed funds and wait for the growth etc.

    No real strategy when i want to grow my property portfolio and increase my holdings into shares and managed funds and then live off my assets.
     
  10. Bandy

    Bandy Member

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    What's more important than the amount of work is the skill used to make the plan.

    I elected not to have a Navra plan, but if I was to get a FP, they are the only people I would go to. Beside the obvious skills on offer, they think so much more outside the square than your average Fin Planner (read M/F sales person). I nevered consider their on-going support offered before, but that knowledge is worth much more than $5k.
     
  11. kenny

    kenny Member

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    Hi Triu,

    I think with most services you might consider paying for, the more legwork and education you do personally, the less it will cost both in the short and long term.

    The more you invest in learning about what you want and expect in such a financial plan the better as it will hone your skills and help you refine it to exactly what you want & need. If you walk in with no real idea of what to expect then how will you judge whether you have received anything of value?

    Anyone can tell you to invest in different things. The media does it all the time. People at bbq's and strangers will do it. The difference with a financial planner's recommendations hopefully is that they make their suggestions after considering your personal situation and goals.

    Regards,

    Kenny
     
  12. crc_error

    crc_error The Rule of 72

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    The problem with DIY is that you will make mistakes which will cost you money and time. Paying for a quality plan upfrount, and sticking to it while you learn might be a better way of doing things. Plus when your learning, everyone will have something to say... people which are well meaning, but will take you off the path you wish to take.. having a financial planner who can coach you through the process may be a good thing..

    Just remember, most wealthy people pay for quality advise in many things they do.. accounts, solicitors, and investing, which is probably one of the most important areas of your life you should get right... leave it to long, and thats time lost for ever!
     
  13. voigtstr

    voigtstr Well-Known Member

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    at 39 I have a sense that time is running out. I want finacial freedom (ie living off investments rather than job) sooner rather than later. However I suspect I have to pay of my consumer debt first before I can really take advantage of a financial plan. (8k motor bike loan, 2k overdraft, 2k credit card, plus wife's credit card 3k)
     
  14. kenny

    kenny Member

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    crc-error brings up an excellent point. A good way of working out how to get started is to see how those who are further along the wealth creation path do it. There is no need to reinvent the wheel so to speak.

    I hope there was no misunderstanding. I did not advocate DIY only.

    Voigtstr,

    I hope you have an efficient financial plan for getting rid of that consumer debt! :D

    Regards,

    Kenny
     
  15. voigtstr

    voigtstr Well-Known Member

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    Hi Kenny, yep I have a budget in Excell, the bike loan is getting most of my spare cash each month. My pay fluctuates a bit based on shift penalties, but I should be out of debt around jan/feb 2008.
     
  16. bundy1964

    bundy1964 Well-Known Member

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    I wish I only had 15k consumer debt :(

    As a % mine pales into minor details though and investments are paying it off :D

    I am a few years older than you and was shunted aside from work 10 years ago, so you with the benefit of a job should be able to retire before your 50.
     
  17. voigtstr

    voigtstr Well-Known Member

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    Retiring before 50 would be awesome. I cant imagine being on an IT helpdesk at 50 (thats what I'm doing now).

    We also have 167k of currently non deductable debt, it will be a rental eventually, but then we'll have a larger loan for ppor.
     
  18. crc_error

    crc_error The Rule of 72

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    yes, the first step should be to get rid of bad debt... I'll give you this advise free :cool:
     
  19. voigtstr

    voigtstr Well-Known Member

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    on the navra financial fact finder, under assets and liabilities would the liablity be remaining balance on the loan?
     
  20. bundy1964

    bundy1964 Well-Known Member

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    I retired at 32 it wasn't awesome just what had to happen.

    I had a long term ambition to own 500 National Bank shares which I got earlier this year then added 500 Westpak for the discount card as well.

    Next is getting my margin account up to 5 mil in value over 5 years then see if I want a new PPOR or if I want to see my name in the top 20 share holders of a company or two, JHX has Tower sitting at no 20 it's not beyond reach. :D