What is a life event? 

​The need for financial advice is driven by a need, and in years gone by everyone sought the services of a financial planner to give them an investment product. Investments alone do not help anyone as it doesn't help with everyone's hopes and dreams as they differ between all of us. We all have different values. That's why with financial advice it is very holistic and every component is interconnected which is why planning is so important, especially when planning for someone's life event.  

• Young: Typically when we are starting out we have landed our first job and money management is a new concept. We may need some help with cash flow management and paying for basic bills however we also may need help with setting aside some money for our first car, deposit on a home or a trip away (domestic/international). 

 

• Mid-life: Having been to university/trade school, work is now becoming full time and we are starting to establish ourselves in our chosen careers, we start to form relationships, start to have a family which then leads to home purchases (with mortgages) and having children. Insurance should be looked at as a means of protecting ones family in the event of a health crisis (Life / TPD / Critical Illness / Income Protection). Planning for your children's future education is also important.

​

• Pre-retirement: Children may still be living at home however starting to find their own feet, now it is your turn to start to think about putting money away for your future, and have a think about what your future retirement may look like. Identifying the best structure for you is going to be important as it assists with future cash flow and liquidity of investments and taxation of your hard earned money.  

 

• Retirement: Now ceased working, children have moved out, and you wish to start to embark on holidays and live your best life based on your needs, wants and values. You have planned ahead and now starting to draw upon your hard earned money.  

 

• Care: Whilst we may not necessarily like thinking about it, important to consider your future care needs and what needs to happen as we all get older. We would consider looking at downsizing, retirement villages and the potential need for aged care.      ​​