When to seek advice

Super and investments 101 | Date Posted: 24 March 2023

Everyone’s different, which means there’s no one size fits all approach to financial advice. But depending on your age, lifestyle and life stage there are some specific areas of your finances that your financial adviser may focus on.

Did you know? Aussies with a financial adviser in their corner have a better quality of life, according to research from the Financial Planning Association of Australia. Find out more here.

Often people seek financial advice when there’s a major change in their life, such as getting married, buying a house, having a family or (preparing for) retirement. Here’s an overview of some of those life events.

Career building (ages 20-39)
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This is when you’re generally setting the foundations for your future financial security. Getting into good habits will help you throughout your life, such as reviewing your priorities and setting a budget. Some major life events that could trigger a review of your financial situation include:

  • Starting a family
  • Buying a house
  • Getting a new job or promotion
Mid-life (ages 40-49)
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By now, most people are settled in their career. You may have a family and a mortgage and want to maintain your lifestyle while also investing for the future. An adviser can help with budgeting and building wealth with investment strategies (inside and outside of super), and ensure you have the right insurance cover for your needs. It might be a good idea to review your finances if:

  • You’re getting a promotion
  • Your role is being made redundant
  • You’re going through a divorce or relationship breakdown
  • You’re moving home
  • You’ve paid off your mortgage and / or other debts
Pre-retirement (ages 50-64)
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At this stage in your life, you may want to focus on protecting your assets and work out when you could retire. An adviser can help with things like cash flow planning, taking out a pre-retirement pension and retirement planning. Consider reviewing your finances if you’re:

  • Wanting to reduce your working hours
  • Approaching retirement
  • Receiving a financial windfall
Retirement (age 65 and over)
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When you enter retirement, it’s time to enjoy your hard-earned super. Financial advisers can help you maintain a steady income in retirement and look into what government benefits you may be entitled to. Some triggers to review your financial situation include:

  • Retiring from the workforce
  • Preparing for extra care as you get older
  • Planning your estate

Mine Super Financial Advice is here for you

The team at Mine Super Financial Advice is here to provide the help you need to make confident and informed financial decisions, tailored to your goals and life stage. We offer members a free, simple super health check over the phone to cover the basics. If you’re after more complex advice, based on your individual situation, Mine Super Financial Advice can work with you to develop a plan that will meet your goals. Mine Super members are entitled to a complimentary appointment. And did you know? Advice on how your account is invested is at no extra cost, but there are fees associated with providing personal financial advice. During your appointment your adviser will discuss the fees and how you’d like to proceed.

Meet the team or request an appointment with Mine Super Financial Advice.