The 5 Stages in your Financial Life

At each stage of our lives, our goals, priorities and income will ebb and flow.  

While many people think that consulting a financial planner is only for those approaching retirement or considering a move to aged care, the truth is a qualified adviser can provide valuable guidance to help you make the most of your income and assets at almost any age!

1.Starting Out 

As a young adult there is nothing better than the freedom of gaining your driving licence and the independence of being able to go where you want to, when you want to.  Which brings us to the first major purchase that most people look to make – buying a car.   

A financial planner can assist you to deciding whether to buy it outright, or help you to understand the difference between a lease and a loan. 

 And the purchases don’t stop there. You’ll soon be thinking about buying your first home.  

Talking to your financial planner will help you to understand:  

  • The costs involved; 
  • Your financial responsibilities; 
  • Government grants and schemes that you may be able to access.  

2.Young Professional 

 It’s never too early to start planning for your future financial security.  While superannuation will get you on your way, building an investment portfolio may also be an option.   

A financial planner can review both your superannuation savings and your investment strategy to make sure that they are both working hard for you.  Getting the right financial advice early will allow you to set up a strong and healthy budget, prevent unexpected debt and ensure that you understand your spending habits.    

3.New Family  

Bringing a new baby into the family is exciting, but it also brings about a decided increase in financial responsibility. There are substantial upfront costs to consider, not to mention the ongoing additional expenses including food, medical and school fees. 

 Now is a good time to think about implementing insurances that will provide additional financial support to you and your family should something untoward happen. If you became sick or passed away, would your family cope financially? Your financial advisor can show you the best way to protect your family.

4.Established – pre-retirement 

 Hopefully, you are now cruising along in the middle years of life.  

For some, there may be the challenges of separating out their finances and starting over due to separation and divorce. 

Retirement is no longer a pipe dream – the end of our working life is now in sight! None of us can be sure exactly how long our retirement will last, and not having a regular salary can seem daunting, but setting up a secure strategy will set your mind at ease. 

There’s a lot to consider when you start thinking about retirement.  What are your ultimate goals?  Would you like to downsize your home?  Sell a business? Or maybe go on that dream holiday?   

Whatever your lifestyle ambitions may be, a financial planner can keep you on track and focussed.  


If you’ve made it this far and followed all the financial advice, you have hopefully ticked off all your money goals and can now take a well-earned rest from the daily grind.   

Making sure you receive the pension that you are entitled to, and maximising your income streams is one step of the retirement process that your financial advisor can help with. They may also be able to provide advice on estate planning, wills and transitioning into aged care facilities.   

The moral of the story? To make sure that you get the most out of your lifetime of hard work, consult and follow the advice of a reputable financial planner sooner, rather than later! 


Photo by on Unsplash



Janet Camilleri
Janet Camilleri
After stints as a primary school teacher, check out chick, and debt collection officer, Janet Camilleri began freelance writing for magazines when her children were small. Since then, her work has appeared in hundreds of magazines, anthologies and websites, including the Huffington Post and Flying Solo. A multi-award winning business woman, in her “spare” time Janet enjoys blogging for fun at


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