The 5 critical times to get financial advice

There’s no bad time to seek financial advice.

Financial advice is not just about retirement.  It’s also about risk, tax, growing your wealth and protecting it from a turn of bad luck or the taxman.

The right advice from a Financial Planner in Perth can make a big difference on your outcomes and achievements, helping others along the way.  But here are five situations where it’s more important than ever.


1. Moving in with your partner

It’s an exciting time.  It may be the first time you’ve lived with a partner, or perhaps you’ve lived with others before but want to take your relationship to its next level and avoid past mistakes.

Either way, before you cohabitate have you considered:

  • How will you split expenses?
  • If you plan to open a joint bank account?
  • How will you manage the property’s financial commitments if it doesn’t work out?
  • Will financial commitments of either party effect the other?
  • Do you have similar views about how the household income will be spent?
  • Are your attitudes to money cohesive?

By considering all financial consequences BEFORE moving in together, you can be open and communicative about your living arrangements and minimise any future stresses on the relationship (or give yourselves time to address them before taking the next step).


2. Setting up house

Buying your first home, upgrading your home or buying an investment property is getting increasingly difficult with high property prices.  A Financial Planner in Perth can help you determine:

  • How to save for a deposit and where to save it
  • If you are ready to buy
  • How much you can afford
  • How to use equity from other properties
  • How to manage your repayments to pay off your loan faster
  • How to save thousands by minimising your interest
  • What associated fees and costs you may incur
  • How to take a long-term view on your investment and manage your risks


3. Ending a relationship

Not every relationship lasts and break-ups can be painful both emotionally and financially. After you’ve both agreed on how you would like to move forward, your financial planner can help formulate strategies for:

  • Compiling a list of your assets, debts and joint debts
  • Splitting superannuation
  • Dividing any property investments
  • Developing a budget and financial plan to adjust to a change in household income
  • Developing a plan to separate and reduce shared debt
  • Updating your estate plan to change beneficiaries

Taking one step at a time with a trusted, experienced and knowledgeable Financial Planner in Perth can help relieve some of the stress of the breakup and give you more time to concentrate on moving forward.


4. Changing direction

Recessions, weak markets, market trends and operational efficiencies have seen businesses freeze annual salary increases, make positions redundant and change existing roles to something else altogether.

It’s less and less likely that you will be in your current role or career for the duration of your working life.  Your finances could greatly benefit from talking to a Financial Planner when:

The right advice can ensure you can manage your financial commitments, minimise tax and retire with a nice little nest egg, letting you concentrate on the next step in your working life.


5. Taking time out

There comes times you just need to hit pause for a while.  You may need to take time away from full-time work to study, travel, raise your kids or look after elderly parents.   Sometimes you need more hours in the day to meet your main priorities in life.

There are obvious short-term financial consequences from reduced working hours and a subsequent reduction in income, but a Financial Planner in Perth can also point long term impacts you may not have considered – like your new retirement figure.


Our Financial Planners at JVA are here to help you through any of life’s major milestones, get in touch today to see how we can help.

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