Do you know that, when your personal life changes or when you reach important life milestones, your financial life changes with you?Seeking advice at those crucial life changing moments can have a huge impact on your financial situation, and you want to be able to make smart financial decisions with confidence to enhance your life further, and not hinder it.When your life changes or when you experience certain life events or milestones, this is when you want to collaborate with an adviser.A financial adviser can be your 'sounding board' to discuss your changed circumstances or they can be your financial coach. They can explain the different financial choices available to you, and help you make smart financial decisions.Top 10 Life Events when you might need adviceAs you grow up, finish school, get your first job, marry, have a family and then retire, these are the life milestones when financial advice can help you to be prepared financially to celebrate your important moments with confidence.Let's look at some of the Life Events where seeking advice from an adviser can help you to be prepared for your financial future.1. Starting WorkGetting your first job is an exciting time, and an important milestone. Even when you think you may not need advice at such an early stage of your life, knowing how to protect your income, or how to save and invest your surplus income is all about getting you ahead, and planning for a brighter financial future.Why do I need advice when I'm young, healthy and carefree?2. Getting MarriedIt's a wonderful time in your life, bringing about big changes for you and for your new partner. It's also a great time to start planning your future together, and working out what your 'big picture' future might look like. Talking to an adviser may help you to define your goals as a couple, and careful consideration will help you map out your long-term financial success.When do we want to start a family?3. Buying your first homeWhen thinking about buying your first home, it's a huge financial decision you will make. A new home equals a major milestone as well as one the biggest investments you will make. Collaborating with an adviser on important financial goals like saving for a deposit, budgeting and knowing how to best manage finances to ensure mortgage repayments can be made can definitely give you confidence.How do I save for a deposit?4. Starting a FamilyWhen sounds of 'pitter patter' can be heard, it's also a timely reminder for you to start planning and thinking about your families needs in the future. Things like how to manage finances and budget if two incomes will drop to one, how to start an education fund, and how to protect your family especially with the arrival of your 'precious bundle'.How can I send my kids to private schools?5. Protecting your familyWhen you're working hard to look after your family, and to build a better future for later, this is an important time to think about how to safeguard your family, and your financial assets like your home. An adviser can minimise your financial concerns if and when unexpected events affect your family. Being prepared for unforeseen events means protecting what matters most in your life.How will I look after my family if I lose my income?6. Mature FamilyWhen your children are ready to leave the 'nest', it's a great time to put the focus back on to you, and to think about planning for your retirement. Reviewing your personal and financial situation with an adviser at this critical time can help you understand what you need to do to get your retirement plans in place. Planning early can mean being able to secure a lifestyle you want later.Can I afford to retire comfortably?7. Receiving an InheritanceInheriting money can be an unexpected surprise, and at the same time it can bring some financial stress. What to do with the money? How do I best invest or utilise the money? These are some of the questions you may face but it doesn't mean you have to suffer them alone. Seeking advice from an adviser who understands your situation and your future goals can help you to make the right decisions to meet your life aspirations.Do I invest my inheritance or do I pay off my debts?8. Job LossIn today's ever changing corporate environment, being made redundant or losing your job is reality you may be faced with. It is at this point, you need to be able to assess your situation and discuss your circumstances with an adviser who can help you to put an immediate action plan into place. Being financially organised, and knowing how to manage your situation, and knowing whether you may be entitled to unemployment benefits will give you the assurance you need to overcome the difficult life challenges, and focus on your future goals.How can I be financially prepared if I loss my job?9. Getting ready to retireDon't leave it to the last minute to start thinking about your retirement. The earlier you think about it, the better prepared you will be to give yourself the best chance of actually realising your retirement goals. Talking to an adviser at this crucial time in your life can help you understand the clear steps or actions you need to take now for a better future down the road. Being able to visualise what you need to do now, and what you could actually achieve later will definitely give you the motivation to stick to your retirement plan.Can I afford to retire now?10. LegacyKnowing how you will leave your legacy is an important issue but something that get's left out for some. You have worked hard all your life so knowing how to pass your assets to your children or family members is an important part of the financial planning process. Talking to adviser who can give you specific advice on the importance of Wills, and how to structure other estate planning structures like trusts or understanding tax implications may mean you are able to help your children with clear wishes with minimal family conflicts.How can I help secure my children's future?As you can see there are countless reasons why advice is an important factor through out your life. Having a long-term values based relationship with a trusted adviser can make a difference in the quality of lifestyle you achieve and enjoy today to your later years.Who am I? : With over 20 years in the financial services industry, I enjoy adding value to my clients by getting them to realise what their financial goals and aspirations are, and then showing them how to achieve them. Helping people working towards their retirement, those who have already retired, and those needing aged care are the types of clients I enjoy working with the most.I am a financial planner with Dome Financial Group (Dome Financial Group trading as Dome Financial Services Pty Ltd is An Authorised Representative of Financial Wisdom Limited ABN 70 006 646 108 AFSL 231138)The information contained on this page is for discussion purposes only and is not intended to constitute financial product advice. It does not take into consideration any persons objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual before making a decision based on any information on this page.
