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When Should You Seek Advice From a Professional Financial Planner?

Written by Melissa Grimshaw

The real answer to the above question – The sooner, the better.

While many consider retirement as the turning point to seek financial advice, we advocate an earlier start.  Early engagement with a financial planner ensures you are maximising every opportunity towards your financial freedom.

Life’s Milestones and Financial Planning

A financial planner can be your ally through various stages of life, including but not limited to:

  • Starting your career– structuring budgets and savings strategies
  • Buying your first home -navigating mortgages and property investment
  • Family growth– managing changes in budget and planning for education.
  • Inheritance and windfalls – making the most of sudden financial gains
  • Separation and divorce– re establishing financial stability and goals
  • Planning for retirement – Strategy alignment and progress tracking
  • Aging – ongoing financial management, including medical and estate planning

Busting Myths about Financial Planners

Many hesitate to seek financial advice due to misconceptions.  Let’s clear some Up:

  • Myth– Planners are expensive.
  • Myth – I don’t need a planner, I can do it myself
  • Myth – I need to be wealthy to see a planner
  • Myth – All planners are the same

Financial planners vary in their specialties and approach, but all have 1 thing in common, they operate in the same regulatory environment.  Many offer a free initial meeting to assess compatibility.

And remember, good financial advice can be invaluable, often outweighing its costs.

DID you know – There are to date 15,855 registered financial planners in Australia.

Why choose a financial planner? – While the internet offers abundant financial information, a planner offers personalized holistic advice.  They take your entire financial situation into account, providing tailored guidance.

Each Milestone Explored

Starting out- A planner helps with budgeting and investment strategies.

Buying property – A planner can provide guidance on saving, affordability and the property market and even provide referrals to other professionals.

Growing a family – A planner can help address financial changes and future planning.

Inheriting/windfall – Receiving a windfall can be exciting but also overwhelming.  A planner can help guide you on managing windfall effectively and strategically.

Separation/Divorce-A planner can help you with financial reorientation and goal setting.

Planning for Retirement – reaching that financial goal that gives you your sense of “enough” to allow you to slow down.  A planner can help with obtaining a comfortable and financially secure retirement.

Aging – the financial journey does not stop at retirement; it continues all the way through and as we age.  A planner can help preserve wealth and plan for future needs, including intergenerational wealth transfer, age care needs and estate plans.

Final Thought – Remember, financial planning is about making the future, manageable today.  As Alan Lakein (American author on personal time management) said “Planning is bringing the future into the present so you can do something about it now.”

Book a FREE 15 minute meeting

Plant a tree with us today, to sit in the shade in the future.

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