Financial planning is something more and more people are considering as a service they need to help them get the best from their finances and focus on putting their money towards what matters to them most. In fact, according to 2020 research 2.6 million Aussies said they intended to seek help from a financial planner over the next two years, up from 2.1 million in 2019.

The uncertainty of the COVID pandemic has definitely played a part in highlighting the value of financial advice. In the same survey of non-advised Australians, almost half (44%) said the COVID-19 situation had increased their likelihood of seeking advice.

It’s often the case that people seek financial advice when there’s a major change in their life like buying a home, growing their family, inheriting money or retiring. But it doesn’t have to take a global crisis like COVID or one of life’s upheavals for you to benefit from working out a financial plan with a qualified expert. A Financial Planner professional can make a positive difference to your financial future at any stage in your life. They will help you understand your financial situation, develop a strategy and give you guidance on things such as funding your children’s education, helping with budgeting and tax planning, having enough money to live comfortably in your retirement, insurance, estate planning and more.

Depending on your life stage, there are certain areas of your finances and lifestyle that you and your financial planner may focus on more.


In your first twenty years of being an adult, a lot can happen. You could be travelling, building  a career, launching a business or perhaps setting up your own home with a partner or having children. It’s a busy time and your ideas about what you want from the future could be changing often.

With support from a financial planner, you can establish some strong foundations for your financial security. They can also help you to review your priorities as they change and make sure your financial plan is still a good match for your current and future goals, whether that’s a career change or buying a home.

MID‑LIFE (40 TO 49)

During this 10 year phase of your life, you’re likely to be consolidating a lot of the hard work you’ve put in to your career, your family and friends and establishing a home. Perhaps you’ve achieved a comfortable lifestyle and want to make sure you can maintain it and keep providing for the people you care about.

Your financial plan is likely to focus more on looking at ways to grow and protect your wealth with investments and insurance, manage your tax, pay for your kids’ education and start thinking more about retirement planning.


As you move past your 50th birthday, it’s time for a shift in your financial planning focus from the years where you’re still earning money to preparing for 20 or more years of retirement ahead of you. Your main priorities could include protecting your assets, paying off debts, healthcare, helping your adult children establish their own career and family, retirement planning, looking into wills and trusts and perhaps a business exit strategy.


This is the time to enjoy your freedom from working life and spend time on hobbies, travel, or with family. But you could also need to prepare for extra care as you grow older as well as transferring your wealth with estate planning arrangements.

No matter which life stage you’re in, or whatever your goals are, money can play an important part in your opportunities and choices. Going through the financial planning process can help you secure your income and wealth to achieve the outcomes and the lifestyle you’re planning for.

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