1300 HH WLTH (1300 449 584) info@hhwealth.com.au

Each stage in life is marked by milestones worth celebrating. Whether you’ve graduated from university, landed your dream job, bought your first home, or retired, you’ve accomplished a goal that you’ve set yourself with flying colours. 

However, it can be challenging to protect, manage, and grow your wealth without adequate financial planning. That is why it is essential to account for your financial health during changing life stages.

When you’re adequately prepared for all the exciting changes that life brings you, you’ll undergo these transitions with ease and confidence while ensuring that your money continues growing, securing a future for you and your family. 

Here are 4 life milestones that would benefit from financial planning:

1. Starting Your Career

Being in the early stages of your career is an invigorating time, as you’ll be discovering what you’re passionate about and what you’re good at doing. You’re likely earning more than you ever have before and it’s important to make good financial decisions early in life to set you up for the future. 

However, many individuals in this stage believe they are too young or not earning enough to benefit from consulting with financial advisers. They often think they need to buy properties, start planning their retirement, or manage large investment portfolios first.

The truth is that the first few years of your career are crucial for learning healthy money habits. 

By learning how to create your wealth, protect, and grow it, you’ll work towards a secure financial future without worrying about supporting yourself, even in unexpected scenarios. 

A financial adviser can advise you about managing your money correctly, helping you find the best superannuation fund for you and more.

2. Buying Your First Property

Entering the property market for the first time can be exhilarating since you can finally choose a home to call your own and decorate it according to your tastes. 

Still, it is crucial to understand the costs involved in buying and maintaining a property and the other financial responsibilities that come with it. 

You’ll also want to make sure that you choose a home in a good neighbourhood and close to your favourite community features and conveniences.

Luckily, a financial adviser can help you see the whole picture involved when buying a home, informing you of insurance policies and other aspects of homeownership. 

A financial adviser can help you navigate ways to pay off your mortgage quicker. With their guidance, you’ll make educated decisions you won’t regret.

3. Starting a Family

Starting a family of your own is a significant milestone worth taking a moment to appreciate and celebrate what you and your partner have created.

However, it’s easy to lose track of your priorities amidst the tornado of feeding, bathing and running around children. It’s a busy time in your life where it is easy to forget about your finances but it’s essential to lay solid foundations now. 

You’re also now financially responsible for a new member of your household, making it essential to protect and grow your wealth to safeguard your family’s future. 

That means being prepared for any scenario by investing in the right insurance cover like trauma cover, life insurance, and even income protection. 

All these will ensure that your family has several cushions to rely on if something happens to you. Your financial adviser may also recommend you draft a Will and engage in estate planning, which will protect your family in the future, even after your passing.

4. Planning Your Retirement

Lastly, many individuals make the mistake of not planning for retirement until it’s too late. Australians have longer lifespans today than ever before, now sitting at an average of 83.64 years

That means many people are living longer lives than anticipated, requiring them to save more money.

You can check how much you should have in your superannuation fund today to ensure you are on the right track to fund your dream retirement. 

Find out more information within our article – How Much Super Should I Have at My Age?

By talking to a financial adviser, you’ll define your ideal retirement and make the appropriate arrangements to fulfill your desired retirement lifestyle. 

Seeking Financial Planning in Brisbane?

Life stages are full of exciting changes that require you to prepare for by managing your wealth adequately. By consulting a financial adviser when experiencing these milestones, you’ll have an easy time navigating the complexities of finances, no matter the situation.

HH Wealth specialises in financial advice and retirement planning in Brisbane. We act solely in your financial interests when managing your wealth. Our goal is to help every client achieve financial freedom. 

Contact us for a complimentary consultation today and take your first step to a brighter future. 

CB Wealth Australian Pty Ltd T/As HH Wealth is a Corporate Authorised Representative (No. 1283595) of Axies Pty Ltd ABN 38 136 704 446 AFSL No 339 384. Chris Holme is an Authorised Representative (No. 1004793) of Axies Pty Ltd ABN 38 136 704 446 AFSL No 339384.
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