Everyone will be at different stages in meeting their lifestyle and financial goals by age 30. Regardless of whether you are well on the way, just getting started or haven’t even set your goals, there’s no time like the present to seek assistance from a professional financial adviser.
The following examples may help you build a stronger financial future.
Maximise your income
Kylie has hit the jackpot. Her career has taken off and she’s loving the work and earning more money than she ever imagined. But she’s horrified to find out how much tax she’s now paying. If she talked to her financial adviser, Kylie could learn about how financial strategies such as salary packaging, salary sacrificing and investing, could save her tax and build her personal wealth.
Get rid of debt
Amy’s got the latest iPhone, she’s just come back from a holiday and she’s spent up big in the sales. Now her dreaded credit card statement has arrived and she wonders how she is going to pay it off. Unfortunately, there are no magic ways to wipe out debts; it just takes discipline.
Start thinking about superannuation
Michael sometimes thinks about the future, but it will be another thirty odd years before his retirement, so superannuation seems too far into the future to care about. What Michael doesn’t realise is that taking care of super now can change significantly how much money he will have when he retires.
Consider your first investments
Jane has a good job, and even though she doesn’t have the money saved to buy a house just yet, she does have some spare money at the end of the pay week, which she currently puts in the bank for a rainy day. But Jane could make her money go further.
Protect what you’ve got
Mark was doing well in his job and had bought a small unit. Over time, he had furnished it in style and his entertainment system was his pride and joy.
To his horror, Mark came home one day to find the front door off its hinges and his unit trashed. Not only was his entertainment system gone, the intruders had made the place unliveable. You guessed it: he wasn’t insured. He thought it would never happen to him.
Plan to start a family
Nick and Helen have just had their first baby, and from two salaries they have dropped to one. Expenses have shot up, and in addition to the significant change to their lifestyle they have to juggle their money to cope. Nick and Helen now realise they should have thought things through earlier and adjusted their budget.