The value of quality financial advice will always remain for Australians at their five key stages of life. Despite the royal commission’s disturbing recent revelations, there will always be a place for quality advice. What are the 5 Key Life Stages You Could Use a Financial Planner?

It pays to ensure you are getting the right advice.

5 Key Life Stages You Could Use a Financial Planner

Life Stage 1

Buying Your First Home

For many Australians, purchasing their home is the largest financial transaction they will do in their lifetime. Therefore, careful consideration of how much debt should be taken on is needed. With this in mind, our role is to help buyers think about the debt burden they’re willing to carry as well as how they’re going to save.

Life Stage 2

Reducing Your Mortgage

Reducing your mortgage is one of the key focuses of reducing debt. Sometimes it takes a back seat when our whims take over. While it is important to direct additional income into non-mortgage related purchases and investments, reducing your mortgage should still remain a priority.

HINT: Once the value of your mortgage is less than 50 per cent of the home value, funds that may have previously been directed towards paying off your mortgage quickly, can be put towards different investment and tax saving options.

Another option could include; with the changes to the deductible super contributions, many PAYG earners should now be considering additional super contributions. For that reason tax benefits are received. For example, withdrawing $10,000 from the mortgage offset account will cost 4-5 per cent in interest cost. This could provide a net tax benefit of 32 per cent for those in the top tax bracket.

Building of wealth outside of super

The building of wealth outside of super is another consideration and might involve an investment property or share investments. Advice of a good financial adviser in any these areas allows you to structure and build wealth whist saving money. Consequently, possible tax advantages.

And remember, a mortgage broker, bank or financial institution is being remunerated on the size of your loan. It is in the bank’s best interest to lend as much as you can possibly afford over the next 25 or 30 years of your working life. We say, a mortgage broker and bank or financial institution will get you into debt. It’s our job to get you out!”

Having a plan before getting into debt is very wise. If you are already in debt let’s look at how to get you out sooner. Either way, debt you hold is reducing your future wealth. Our cashflow and debt advice program creates a plan unique to you. The focus is to get you out of debt sooner and catalyze the goals you want to achieve.

If you want to know how, call Deb on 0409 20 00 59 or email

Life Stage 3  –  5 Key Life Stages You Could Use a Financial Planner

What is your retirement date?

While retirement savings maximization should ideally start 20 years from retirement, those five to 10 years before retirement should focus on building your superannuation nest egg. Perhaps through concessional contributions. You need to be prepared.

We provide advice on how your superannuation should be invested. Based your different risk appetite and the associated returns.

You may be in a position to also take advantage of the non-concessional contributions. In particular, the three-year bring forward rule. Careful planning is needed around the age in which the contributions will be made. In order to maximize the total amount that goes into super.

If you want to know more, call Arthur on 7111 00 22 or email

Life Stage 4

Loss of future income

We understand the most underappreciated risk, is the risk of a loss of future income.

As a society, we seem to have no problem with insuring our home, car and other assets. Whatever cost the annual premiums are. Yet why do we question the value of insuring our future income earning ability?


Our advisers have seen firsthand that personal insurances have an important role to play. Unexpected illness that requires extended treatment or rehabilitation and other situations can happen at different times in our lives. Our income may be impacted. Personal insurance, particularly when debt levels are high and dependent children are young are times when your recovery can be made considerably easier if you don’t have to worry about your incomewhilst you are recovering.

So, you have an income, now is the time to insure it.

Don’t have personal insurance in this area?? Request a full financial health review now.

Life Stage 5

Transferring wealth to our kids

Receiving inheritance via a testamentary trust can provide significant asset protection and tax advantages. We now see more people starting to consider assistance to children prior to death.

An example of this could be; if there is a sum of money, say $50,000 or more. Careful consideration should be given as to whether the amount is simply a gift. Or whether it should take the form of a loan. With a signed loan document in place. Also with some type of repayment required. This protects retired or approaching retirement inheritors who may wish to pass along wealth sooner rather than later.

Inheritance questions are a key part of our 5 Key Life Stages You Could Use a Financial Planner. Probably being looked at later in life, as we are now seeing extended life spans. But, it may pose a risk. It is better to safeguard your children’s relationships – so be sure you are prepared before you leave the planet!

Independent Advice is Best

We’re not owned by a bank or institution which means we can explore the full range of options to help you achieve the best outcomes. There’s no conflict between the advice we provide and any investment solutions we recommend to reach YOUR goals.

Put simply, our professional role is to simplify anything complex and deliver certainty in your financial life so you can achieve that which is most important to you.

We invite you to experience the FMG Wealth Strategists difference now.

Disclaimer: This article is factual information only. It is not intended to imply any recommendation about any financial product(s) or to constitute tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future. For information about a loan that may be suitable for you, call us on 7111 0022.

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