What life stage are you in?
The life stage you are in will have a strong bearing on your financial priorities. Here we set out the major concerns and goals often expressed by clients, broadly defined by different age groups. Of course many people’s situation will not fit exactly into the scenarios we describe here, and it is important to note that each strategy we develop for a client is based on their unique circumstances and aspirations.
30 – 45 Characterised by moderate income, high mortgage, high commitments and asset growth. Those in this life stage generally need to:
• Be astute with the implementation of long term and tax effective investment strategies
• Protect income and assets against unforeseen circumstances,
Our financial advisors can advise you on: tax effective savings plans; life, income protection and trauma insurance; effective debt recycling strategies and more.
46 – 55 Characterised by high income, reduced mortgage, reduced commitments and growing assets. Those in this life stage generally need to:
• Put aside surplus income to create wealth
• Become savvy about making the right investment choices by exploring different investment
options (e.g. property, shares, fixed interest and alternative investments)
• Prudently use the equity in existing assets to create even greater asset growth, and
• Protect wealth as income grows,
Our financial advisors can advise you on: tax effective investment plans; the pros and cons of investing into different asset classes including alternative investments; life, income protection and trauma insurance; strategies to unlock the latent potential for investment in your existing assets and more.
56 – 65 Characterised by high income, lower levels of debt, small commitments, increased value of assets and consideration of retirement options. Those in this life stage generally need to:
• Provide enough capital to fund lifestyle in retirement
• Make use of the tax funded incentives to build up retirement assets
• Access partial benefits from superannuation to allow salary sacrifice strategies
• Fund their lifestyle whilst working part time, and
• Extinguish debt before moving into retirement phase.
Our financial advisors can advise you on: self managed superannuation funds; the tax benefits of investing into superannuation via salary sacrifice; transition to retirement strategies enabling you to take a pension whilst working and making your super fund returns tax free; and how to use your super to pay off debt in retirement.
Contact us today, to find out how you can improve your financial circumstances and prospects with our expert guidance and advice.
Please note that past performance is not a reliable indicator of future performance. The information contained in this website is of a general nature only. We strongly recommend you seek advice specific to your goals and circumstances before taking any action.
