The research, conducted by MYMAVINS, compared perceptions of unadvised and advised Australians, with results showing those under advice measured better on all aspects of quality of life and better mental health.

"Australians with an active relationship with a financial planner are better off in multiple ways. They suffer less financial stress, enjoy a higher quality of life, have more financial confidence, and are more satisfied with their wealth," FPA chief executive Sarah Abood said.

The research found that 71% of participants that received advice feel positive and optimistic about life versus just 55% of those that didn’t get advice. When it comes to financial security, 85% of advised Australians feel secure and 62% of unadvised do. Importantly, participants in retirement that sought advice were twice as likely to experience a comfortable retirement than those that didn’t.

"They are more likely to be living with purpose, are more optimistic, have more resilience in the face of challenges, are more connected with others, and even feel healthier. It's a virtuous cycle of increasing quality of life," the research reads.

Look to future-proof your finances

In today's world of changing legislation and volatile financial markets, most people find it difficult to know what to do with their hard-earned cash.

We see a lawyer for legal advice and an accountant to do our tax returns, but often neglect our finances.  However, it’s important we make informed decisions, especially about something as significant as our financial future.

That's where a financial planner comes in. A financial planner looks at your whole situation to ensure that the financial decisions you make help set you on the right path to achieving your goals! 

Take the next step

If you want to talk finances but don’t know where to start, we can help. 

You can get general and simple advice about your TelstraSuper account for no additional cost – it’s part of your membership. We can speak to you about your risk profile, how to boost your super, your insurance and your investment options. 

If you need more personalised information, TelstraSuper Financial Planning offers comprehensive advice at a competitive fee. TelstraSuper Financial PlanningAdvisers are experts in helping you shape your financial future – and they don’t receive commissions.

To chat with a TelstraSuper Financial Planning Adviser simply call 1300 033 166 or alternatively, request a call back.

TAKE A LOOK AT ALL THE ADVICE OPTIONS

Source: https://www.financialstandard.com.au/news/advised-aussies-better-off-on-all-fronts-study-179796962
Any general advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before you act on any general advice on this website, you should consider whether it is appropriate to your individual circumstances. Before making any investment decision, you should obtain and read the relevant product disclosure statement which is available on the Website or by calling 1300 033 166 between 8.30 am and 5.30 pm (AEST) Monday to Friday. You may wish to consult an Adviser before you make any decisions relating to your financial affairs. To speak with an Adviser from TelstraSuper Financial Planning call 1300 033 166.