Be financially smart through each stage in the life cycle
Every stage of life has its own financial challenges and needs, and in today's world, securing your financial future has never been more important. At Amber Financial Planning, we take time to understand what you want out of life and what is important for you and your family. You may want long term financial security, grow your assets or plan for your retirement.
You may want to travel the world, care for your family or expand your business. We understand and support your life goals and together, we create a personalised financial plan to build and secure your wealth and financial future. Every someday starts with a vision and comes to life with a plan.
FOUR financial stages
Gaining financial independence and setting up an emergency fund
The main goal in your early working life is to gain financial independence, save for the next best thing (car, an overseas adventure or for the first home) and to further your career to support savings, as well as a relatively expensive social and recreational lifestyle. At this stage of the financial life cycle, it is a smart idea to set up an emergency fund and prepare financially for any unexpected events. Starting an investment portfolio and or a savings plan to work towards purchasing your first home, travelling, education costs and building wealth over the long term.
Wealth accumulation and building towards your retirement
During this phase, you may have numerous financial and life goals, including purchasing a house, having children, building a financial portfolio, starting a business and accumulating wealth to give you financial security and independence. Good financial planning and a tax efficient investment strategy, designed with your personal circumstances in mind, are important in helping you achieve your desired lifestyle.