Identifying Your Goals and Simplifying Your Finances at Each Stage of Life

People often turn to a Financial Planner to simplify their finances and set achievable financial goals, providing greater confidence to plan for their future.

At PrimeWealth, our Senior Advisors can help you with areas such as Cash Flow Management, Savings Plan, Asset Protection, Superannuation, Tax Optimisation, Home Loan Repayments, Debt Management and Reduction, Insurance, Investments, and Retirement Planning.

Understandably, your financial goals will change over your lifespan. It would be best if you had a financial plan to suit the stage of life you are in. Here are some of the common needs of each life stage:

• Young to Mid-Life
• Mid-Life
• Pre-Retirement
• Retirement

1. Young to Mid-Life

In this life stage people are often motivated in establishing and building their careers and perhaps starting a family. You may be interested in:

• Buying your first home
• Travelling
• Paying off your HECS
• Getting Married
• Family Planning
• Organising Family Healthcare
• Starting a Business

2. Mid-Life

This is known as the Consolidation Stage, achieving a comfortable lifestyle and working towards a long term future are usually the key priorities. You are likely to focus on:

• Healthcare
• Investments
• Financing Home Renovations
• Tax Optimisation
• Debt Management
• Inheritance
• Retirement Planning
• Long Term Care Planning
• Income Protection

3. Pre-Retirement

With 20 or more years of retirement ahead of you, your priorities will depend on how well you have planned for your future. Your main concerns may be:

• Asset Protection
• Debt Elimination
• Family Healthcare
• Planning For Your Children’s Future
• Retirement Planning
• Wills and Trusts
• Business Exit Strategy

4. Retirement

This is the time to indulge in hobbies or travel, enjoy your family, and make preparations to transfer your wealth. You may be thinking of:

• Asset Protection
• Healthcare
• Aged Care Planning
• Travelling
• Buying a Boat
• Inheritance Tax Mitigation
• Preserving Your Capital
• Gifting To Family
• Estate Planning

At PrimeWealth, we are passionate about understanding where you are on your journey, being clear on your goals, partnering with you to create the right strategy, and keeping you on track with regular catchups along the way.