Financial advice is a great investment at any stage in life.
Everyone goes through life events or milestones that shape who you are. For these times and more, it’s important to seek financial advice. Financial advice isn’t just something for those approaching retirement. The right advice can ensure you make the best financial decision for your needs.
In addition, good advice will help you to achieve your goals and set yourself up financially for the future. In a nutshell, there are four key life stages when seeking financial advice can be of great benefit, including:
Your 20s - lots of opportunities
These are great years when the world is at your feet and you have wonderful opportunities to lay the foundations of financial security for life. Financial advice can help you to protect your wage or salary income, show you how to invest and build wealth, even while you enjoy your new freedom and guide you through simple strategies to get started buying your own home.
Your 30s - time to build
In your 30s you may be embarking on a new life with a spouse or partner, thinking about starting a family, or you may be shifting your career into high gear. You may even be tackling all of this at once! In any case, these are the years to put the building blocks of wealth in place. By speaking to a financial adviser, you can find out what strategies you should implement to start living debt free, make financial plans for the arrival of children and find out which types of insurance cover are essential at this stage.
Your 40s – busy years
Our 40s are often our peak income earning years and it’s critical to use this valuable resource wisely. There’s often plenty to juggle – the home loan, kids’ school fees, maybe a small business – and you still need to tuck something away for retirement. Your financial adviser can talk you through the best ways to manage your cash flow and help you invest for the future.
Your 50s – retirement isn’t too far off
In your 50s, it's critical that you are serious about your superannuation and broader retirement plans. You may need advice managing a windfall like an inheritance. Or you may be at a personal crossroads following separation or divorce. Whatever the circumstances, financial advice will help you make better financial choices.
Not sure what you can do now?
Visit our Financial Planning Ideas page for the different life stages.