We offer tailored strategies for different stages of life
At this stage in life it is very important to set the foundations early to make the most of your financial position, allowing you to put aside savings for a holiday, car or house without forgoing the opportunity to have fun and make some memories while you are young.
Generally, as a young adult you will have no dependants, little to no commitments and be gaining financial freedom. It is therefore considered a good time to start getting your financial affairs in order. By receiving some financial advice early in your life, you will be doing your future self a favour.
Some areas of advice worth considering as a Young Adult include:
- Setting up a regular savings or investment plan,
- Ensuring your super is invested appropriately and is suitable for you,
- Putting in place adequate insurance to protect against not being able to earn an income temporarily or permanently as a result of an illness or injury,
- Having a Will & Enduring Power of Attorney.
Career & Family
At this stage in life you will spend most of your time working to support the lifestyle you now live. Whether this lifestyle includes providing for your family or funding your business venture or both, it is important to begin thinking about the big picture of how you are faring financially. Some questions you may want to ask yourself include:
- Am I getting the most out of my investments?
- Is there something else I should be doing better?
- Is my super on track for retirement?
- Should I be paying more or less off my home loan?
- Is my cashflow being used to generate real wealth or is it going down the drain?
- What would happen if I can no longer work?
- Do I have insurance in place?
Family is important, so too is living a healthy lifestyle. It is equally important to be financially secure. Having a financial plan in place can help remove the burden of financial stress and provide security, leading to a happier you.
Preparing for Retirement
It is never too early or too late to start planning towards your retirement. You might feel as though your career or work life will continue well into the future and you keep telling yourself you will plan for retirement tomorrow or next year. The reality is, there is no guarantee on the longevity of your career span and relying on your future income to fund retirement is setting yourself up for financial and emotional turmoil later in life.
It is important to put in place a retirement plan to ensure all your years of hard work do not add up to nothing so that when you do retire, you can live the lifestyle of your own design.
You have worked hard and now is the time to enjoy your retirement. Whether you have retired on your owns terms or by the design of someone else, it doesn’t matter, having a financial plan in place is important so you can continue to enjoy the lifestyle of your choice.
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