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BSB 805 050

6 Life stages financial planning can help you through

10 Jul2020

At each stage of life you are faced with new priorities and different financial resources, lifestyle needs and personal goals. A Financial Planner can help you manage your financial decisions at each life stage and put strategies and realistic goals in place that are tailored to your individual needs and circumstances.

Financial planning is more than just retirement planning. Whether you’re saving for a home, starting a family or building an investment portfolio, a Financial Planner can guide you through each life stage to help you meet your short, medium and long-term goals.

1. Starting a job or business

If you’re starting a new job or business, a Financial Planner can help you navigate this new income and any expenses that come with it.  

When it comes to a new job or a promotion, the amount of money coming into your account will likely change. A Financial Planner can help you put a plan and budget together to assist you in deciding where and how to allocate your money and how it can work towards your future financial goals

2. Buying a car

Buying a car is a big purchase you’ll likely make at some point in your life. You might have a myriad of questions such as should I buy it outright? Do I take out a lease or loan? What about car insurance? A Financial Planner can assist you in answering those questions and choosing the option that’s best suited to your financial needs.

3. Buying/renovating a home

It’s no secret that buying or renovating a home can be a daunting and expensive experience. Whether you’re buying your first home or you’re a savvy property investor, a Financial Planner can help you work through your finances and portfolio to determine how much you can afford, if you are ready and how it might affect your future financial position. 

4. Starting a family 

Starting a family also comes with new financial decisions. An extra person in your household means an extra mouth to feed, future childcare and school fees and all the other expenses that come with raising children. If you’re ready to start having a family, consider chatting to a Financial Planner to walk you through all your considerations or concerns so you can focus your energy on keeping your family healthy and happy.

Alternatively, you might be becoming a grandparent for the first time and would like financial advice on how you can support your grandchildren now and/or in the future. 

5. Going through a divorce

Going through a divorce not only affects you emotionally, but it can also affect you financially. A Financial Planner will be there for you to help rebuild your financial security and independence and answer any questions you may have.

6. Planning for retirement

There’s a lot to consider when you start preparing for retirement. You may be looking at downsizing your home, selling your business, preparing your inheritance or planning a well-deserved retirement getaway. Financial Planners can help you strategise and understand all your options so that you can enjoy the retirement that you deserve.

Remember, you don’t need to be going through a major life stage to seek financial planning advice and start building towards your ideal financial future. If you’re wanting some tips, guidance or reassurance that the plan you already have is realistic and is on the right path to achieving your desired short-term and long-term goals, a Financial Planner can help. At People’s Choice, we have a team of dedicated Financial Planners available to help our members.

The information in this article is not intended to constitute financial advice.  For full details of the Financial Planning services we offer please refer to our Financial Planning Financial Services Guide (FSG), available from us. Before acquiring a product, you should consider whether it is appropriate for you.


Make an appointment with one of our expert Financial Planners by submitting an online enquiry or by calling us on our dedicated Financial Planning hotline.

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