When to see a Financial Planner Melbourne

Setting aside even a modest amount out of a pay check each month, and doing so sooner rather than later, gives a person the opportunity to take advantage of compound growth in their investments, which can mean tens of thousands, even hundreds of thousands, of dollars more in savings down the road. Hopefully to buy a house !!!

Birth of your first child: A good opportunity to invest in a life insurance policy and disability insurance to replace your income and protect your family financially by taking help of certified financial advisor should the unexpected occur, and to establish a school/uni savings plan on the child’s behalf. Starting early is the ONLY way

Mid-20s to mid-30s: With earnings/salary likely on the rise and new financial responsibilities to meet, now is a good time to establish a relationship with a financial professional to provide ongoing guidance and recommendations for meeting your goals, growing your assets and managing your money.

30s and 40s. If you have a spouse and/or children, and you want to have a say in how your assets and your affairs are handled should the worst happen, it’s important to put in place the legal documents to ensure your wishes are carried out. That includes a will, powers of attorney, guardianship of children and more.

Mid-40s to mid 50s. This is the optimal age range to invest for your retirement

50s and 60s: This is the time for more serious contemplation about targeting a retirement date — or making a plan to continue working.

Three months before turning 65: the made rush to take advance of the generous superannuation contributions

At your retirement date: Time to begin positioning your assets to transition from the accumulation phase to the distribution phase of life — the point where you start spending down the assets you worked so hard to build. The transition includes taking stock of the income sources you’ll rely upon for retirement to assess if they’ll be adequate to support you throughout retirement, whenever it happens.

Annually, at least, throughout your adult life, take stock of your finances, your assets, revisit the financial plan you (hopefully) put in place with the help of a Financial Planner Melbourne, and based on that assessment, make any necessary adjustments to the plan and how your assets are allocated.