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How to Stay Ahead of the Pack

By November 10, 2020December 3rd, 2021No Comments

Are you at a stage of your life where Financial Advice would be beneficial? The answer? Everyone is.

It is a common question – why do I need financial advice?  For those who have not been through the advice process, it may be hard to see the value. This is often due to pre-conceptions as to what financial advice is.  

A misconception is that Financial Advice is for the rich or those who are retiring. But the reality is that Financial Advice is for everyone. No matter what your situation is, there is benefit in seeking out a professional to assist you reach your short term and long term financial goals.

For every life stage there are important financial decisions to be made. Many of which may have far reaching consequences for the rest of your life.  Everyone’s journey is different, with life throwing up many hurdles along the way. Financial Advice provides you with a blueprint to meet your life goals and the ability to manage through life’s ups and downs. 

Below is a quick run-down of the four main life stages.


One of the most important stages in getting your financial life in order. It is the time you should embed good financial practices. You usually have substantial amounts of savings capacity and little financial responsibility.

You may have a savings goal like a house or holiday. Personal Insurances are important as you rely solely on your income. It is never too early to plan your superannuation.

Young Family 

You may have just recently married, bought a house and have a child on the way. Three large financial outgoings close together. You are no longer free of those financial pressures as you were in your single years.

It is now you need to review your insurances to make sure you have allowances for your family. You may want to start a savings plan for your children’s education. You should also review your estate plan as you want to make sure everything is in order should something happen to you.

Empty Nesters

After 18 years (or maybe 30?!?) your outgoings are considerably lower,  the children are no longer at home. No more education expenses, extra mouths to feed or high utilities. You start toying with the idea of retirement. 

Can you afford to retire? Are there opportunities to grow your retirement nest egg? It is now you should understand what your retirement finances look like as the time you have to make a difference is diminishing.


Your 9 to 5 suddenly looks a lot different. You are on a fixed income and need to make sure it can last you. All while also having funds ‘just in case.’  You may also start to look at different living arrangements to help you in your later years. 

Keeping on top of your finances is important in this life stage. Constant review of your income streams and Centrelink will give you piece of mind. You should also have a plan in place for you future living arrangements. Having an idea about your assisted living options/requirements will lessen the stress if or when it is needed.

Each life stage throws up its own financial issues. If any of the above situations resonate with you, you can benefit from using a professional to assist you. Financial Advice provides you with the comfort that you are not only doing the right thing, but doing it the right way. 

Schedule a no-obligation Discovery Chat with us to explore how professional advice can help you.

Discovery Wealth Advisers – The Hills trusted name in financial advice.  

The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author. Louella Jorge is an Authorised Representative of RI Advice Group Pty Ltd, ABN 23 001 774 125 AFSL 238429. This editorial does not consider your personal circumstances and is general advice only. It has been prepared without taking into account any of your individual objectives, financial solutions or needs. Before acting on this information, you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser before you act.

Discovery Wealth Advisers

Author Discovery Wealth Advisers

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