5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (2024)

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No matter what stage you’re at, we’ll help you turn your financial dreams into your future reality.

1. Starting Out

Need help finding financial direction but you don’t know where to start?

If you have big dreams when it comes to your financial future but have no clue how to make them happen, we can help. We will work with you to create an achievable financial plan that will set you on the path to financial success.

5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (2)

5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (3)

1. Starting Out

Need help finding financial direction but you don’t know where to start?

If you have big dreams when it comes to your financial future but have no clue how to make them happen, we can help.

We will work with you to create an achievable financial plan that will set you on the path to financial success.

2. Setting a Foundation

Buying a home or planning for a family and want to find the right financial path forward?

We all have big, long-term goals for our money, but achieving them is made more difficult without a strong foundation. We also understand that facing financial decisions that will have a direct impact on your financial future can be overwhelming.

With our expert guidance, we’ll help you find the right balance between achieving your financial goals and meeting your expenses, and guide you to make smart financial decisions along the way.

5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (4)

2. Setting a Foundation

Buying a home or planning for a family and want to find the right financial path forward?

We all have big, long-term goals for our money, but achieving them is made more difficult without a strong foundation. We also understand that facing financial decisions that will have a direct impact on your financial future can be overwhelming.

With our expert guidance, we’ll help you find the right balance between achieving your financial goals and meeting your expenses, and guide you to make smart financial decisions along the way.

3. Growing Your Wealth

Getting serious about your future and wanting to proactively grow your financial position?

You’ve done the hard yards and are ready to start investing. But, you’re not sure which investment option, for example property or shares, is right for your goals. We can work with you to develop a clear plan for growing your wealth through investments, such as purchasing an investment property or entering the share market.

5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (5)

3. Growing Your Wealth

Getting serious about your future and wanting to proactively grow your financial position?

You’ve done the hard yards and are ready to start investing. But, you’re not sure which investment option, for example property or shares, is right for your goals.

We can work with you to develop a clear plan for growing your wealth through investments, such as purchasing an investment property or entering the share market.

4. Paving The Way to Retirement

Want to make the most of retirement but worried about the money you will need?

You’ve been thinking more and more about what retirement looks like for you, but you have no idea how to get from where you are now to where you want to be or even if you have enough money to live the life you want in retirement?

We can help ensure you have everything in place to achieve your dream retirement and explore all your available options to figure out the best path forward for your unique circ*mstances.

5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (6)

4. Paving The Way to Retirement

Want to make the most of retirement but worried about the money you will need?

You’ve been thinking more and more about what retirement looks like for you, but you have no idea how to get from where you are now to where you want to be or even if you have enough money to live the life you want in retirement?

We can help ensure you have everything in place to achieve your dream retirement and explore all your available options to figure out the best path forward for your unique circ*mstances.

5. Retiring in Style

Trying to worry less about money and focus more on enjoying your retirement?

You may struggle to balance your income with a lifestyle you enjoy in retirement. Perhaps you want to help your children or travel more often but areunsure how this will affect your financial future.

We can help you put in place a retirement plan that is as unique as you are so you can get the most out of your lifetime of hard work and enjoy a comfortable, stress-free retirement.

5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (7)

5. Retiring in Style

Trying to worry less about money and focus more on enjoying your retirement?

You may struggle to balance your income with a lifestyle you enjoy in retirement. Perhaps you want to help your children or travel more often but areunsure how this will affect your financial future.

We can help you put in place a retirement plan that is as unique as you are so you can get the most out of your lifetime of hard work and enjoy a comfortable, stress-free retirement.

We’ll help you bring together the right financial advice for your unique situation and life stage

Get in touch today

Book your initial obligation and cost-free consultation

5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (8)

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© Wealth Seekers Family Financial Planning 2023 | Your Goals Brought to Life

Wealth Seekers Financial Services Pty Ltd ACN 622 190 925 is a Corporate Authorised Representative (No. 1276988) of Strategic Financial Advisers Pty Ltd ABN 71 139 530 242 AFSL No. 535997. General Advice Warning: The information provided on this website has been provided as general advice only. We have not considered your financial circ*mstances, needs or objectives and you should seek the assistance of your Strategic Financial Advisers Pty Ltd Adviser before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Strategic Financial Advisers Pty Ltd nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.

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  • Home
  • Is This You?
    • We’re A Busy Family
    • I Work In The Medical Industry
    • I’m A Government Worker
    • I’m A Fly-In, Fly-Out Worker
  • Services
  • Free Strategies
  • Happy Clients
  • About Us

    All Rights Reserved Wealth Seekers

    Retire in style

    Whether it’s travelling, community involvement or caring for family, we all deserve to live the retirement lifestyle we want.

    Have you thought of the following:

    - Will I have enough super?

    - Will I be eligible for the Age Pension?

    - Will I work less, stop working or do something different?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (12)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (13)

    Pursue your passion

    If a new hobby or interest comes with a sizable price tag, an ongoing financial commitment or takes time away from paid work, you’ll need to think about what you can do to make it a reality.

    Have you thought of the following:

    - What is my passion and what will it cost me?

    - Do I have a budget and savings plan in place?

    - Am I taking steps to minimise other debts?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (14)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (15)

    Protect my lifestyle

    If something happens, like getting sick or injured, the last thing you want to worry about is your finances.

    Have you thought of the following:

    - How can I prepare financially for a possible
    change in income?

    - How can I stay on top of my expenses?

    - Do I have savings or an emergency fund?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (16)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (17)

    Invest in property

    Whether you’re planning to be a first-time landlord or have been in the market for a while, thorough planning is important to making the right decision.

    Have you thought of the following:

    - How much can I borrow?

    - What are the costs and risks?

    - Could alternative approaches to investing in
    property be suitable for me?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (18)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (19)

    Gain Financial Independence

    Giving the children in your life a good start can often come down to participation in sports, music lessons or other extra-curricular activities.

    Have you thought of the following:

    - What debts do I have and what do they add up to?

    - How much interest am I paying?

    - Should I consolidate my debts?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (20)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (21)

    Give my kids the best chance

    Giving the children in your life a good start can often come down to participation in sports, music lessons or other extra-curricular activities.

    Have you thought of the following:

    - What debts do I have and what do they add up to?

    - How much interest am I paying?

    - Should I consolidate my debts?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (22)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (23)

    Start a family

    Whether it's good debt, bad debt or both—how and when you make payments could make a difference in the total cost of your loans. That could mean more money in your pocket to invest in your goals.

    Have you thought of the following:

    - What debts do I have and what do they add up to?

    - How much interest am I paying?

    - Should I consolidate my debts?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (24)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (25)

    Be debt free

    Whether it's good debt, bad debt or both—how and when you make payments could make a difference in the total cost of your loans. That could mean more money in your pocket to invest in your goals.

    Have you thought of the following:

    - What debts do I have and what do they add up to?

    - How much interest am I paying?

    - Should I consolidate my debts?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (26)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (27)

    Save for something big

    It could be a car, holiday, home, wedding or your child’s education—whatever you’re saving money for, organisation and a realistic timeframe could go a long way in helping you to achieve your goal.

    Have you thought of the following:

    - What am I saving for and how much do I need?

    - Do I have a budget and savings plan in place?

    - Are my debts under control?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (28)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (29)

    Plan a future together

    While you may already have shared financial commitments and joint bank accounts, setting yourselves up for the future requires some planning.

    Have you thought of the following:

    - Do we have a household budget and savings plan?

    - What are our goals and financial needs?

    - Is our financial paperwork in order?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (30)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (31)

    Buy a home

    Buying a home is exciting, even though it’s a big financial commitment. That’s why preparation and readiness could be the difference between make or break.

    Have you thought of the following:

    - How much can I borrow?

    - Am I across the upfront and ongoing costs?

    - Are there any government entitlements I may be eligible for?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (32)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (33)

    Simplify your finances

    Simplifying and streamlining your financial life could help make it easier to keep track of and grow your money.

    Have you thought of the following:

    - Have I got direct debits set up so my bills are paid on time?

    - Do I have a budget and savings plan in place?

    - Would consolidating my debts make things easier?

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (34)

    Try our interactive goals planner

    Short list this goal and begin exploring and prioritising other goals that are important to you with our online goal setting tool.

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (35)

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (38)

    5 Financial Stages of Life and How to Plan for Them - Wealth Seekers (2024)

    FAQs

    What are the 5 stages of the personal financial life cycle? ›

    Life cycle financial planning can be separated into five stages: teenage years (13-17 years old), young adulthood (18-25 years old), starting a family (26-45 years old), planning to retire (45-64 years old), and successful retirement (65 years old and above.)

    What are the five steps to financial success? ›

    Five Steps to Improving Your Financial Situation
    • Know your numbers. Before you can determine which areas of your financial life are going well and which may need a tune-up, it's critical to have a solid idea of where you are today. ...
    • Reduce spending. ...
    • Start an emergency fund. ...
    • Pay down debt. ...
    • Save for your best future.

    What are the financial steps in life? ›

    Planning for your financial life stages
    Life StageLife Events
    Stage One- Enter workforce - Marriage - Children
    Stage Two- Family grows - Career advancement - Inheritance
    Stage Three- Major promotion - Retirement - Grandchildren - Death of spouse

    What are the five 5 areas of personal finance? ›

    What Are the Five Areas of Personal Finance? Though there are several aspects to personal finance, they easily fit into one of five categories: income, spending, savings, investing and protection. These five areas are critical to shaping your personal financial planning.

    What is the rule of 5 financial? ›

    The 5% rule says as an investor, you should not invest more than 5% of your total portfolio in any one option alone. This simple technique will ensure you have a balanced portfolio.

    What are the 5 steps in the financial decision making process? ›

    • 1 of 2. Consumer Financial. ...
    • Stop. Stop and give yourself time to make a good decision. ...
    • Ask. Ask questions about costs and risks. ...
    • 2 of 2. 4/2019.
    • Verify. Now that you've gotten answers to your questions, double-check the answers on your own. ...
    • Estimate. Estimate your costs. ...
    • Decide.

    What are the 5 areas of financial planning? ›

    When conducting your financial analysis, we take a look at the five main areas of financial planning:
    • Protection. ...
    • Estate Planning Strategies. ...
    • Retirement Planning. ...
    • Investment Planning. ...
    • Tax Planning.

    What are the 5 steps to building wealth? ›

    Follow these five steps to get started on your generational wealth building journey:
    • Step 1: Pay off Debts. Think of debt as missed opportunity. ...
    • Step 2: Buy a House. ...
    • Step 3: Start Long-term Investing. ...
    • Step 4: Put an Estate Plan in Place. ...
    • Step 5: Share Your Financial Wisdom.
    Mar 19, 2024

    What are the 5 steps to financial wellbeing? ›

    Here are some tips to help improve your financial wellness score.
    1. Create a plan. Decide where you want your finances to take you and compare that to your current financial situation. ...
    2. Automate savings. ...
    3. Carry cash. ...
    4. Improve your credit score. ...
    5. Build financial literacy.

    What are the 5 foundations of financial success? ›

    These basic steps will help you grow with more financial confidence:
    • Save a $500 emergency fund.
    • Get out of debt/loans.
    • Pay cash for your car.
    • Pay cash for college.
    • Build wealth and give.
    Dec 30, 2022

    What are the 5 steps of the personal financial planning process? ›

    With or without a financial planner, you can whip up your plan in five easy steps.
    • Step 1: Assess your financial foothold. ...
    • Step 2: Define your financial goals. ...
    • Step 3: Research financial strategies. ...
    • Step 4: Put your financial plan into action. ...
    • Step 5: Monitor and evolve your financial plan.

    How do I plan my financial life? ›

    Personalized financial planning explained step-by-step
    1. When it comes to life's biggest moments, you probably had a plan. ...
    2. Set financial goals. ...
    3. Follow a budget. ...
    4. Build an emergency fund. ...
    5. Manage debt. ...
    6. Protect with insurance. ...
    7. Plan for taxes. ...
    8. Plan for retirement.
    May 10, 2024

    What is Stage 5 of the business life cycle? ›

    Stage 5: Maturity and possible exit

    Sometimes, a mature business chugs along with sustainable profit growth and loyal employees reaching long service leave time. Many mature businesses have a strong cash position, which makes them an attractive target for mergers or acquisitions.

    What are the steps in the financial cycle? ›

    8 Steps of the Accounting Cycle
    • Identify transactions. ...
    • Record transactions in a journal. ...
    • Post transactions to general ledger. ...
    • Determine unadjusted trial balance. ...
    • Analyze a worksheet. ...
    • Adjust journal entries. ...
    • Generate financial statements. ...
    • Close the books.
    Feb 21, 2024

    How many stages are there in financial life? ›

    Experts have identified three distinct phases that we experience: wealth accumulation, wealth preservation, and wealth distribution. During these three phases, your financial needs will change. Understanding how each phase works can help you better prepare so you can meet your goals.

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