This page is about the things you need to consider at different stages of family life:
Getting married
Getting married is an exciting time in life but it can also be a time of significant financial change.
As you prepare to get married, you may need to review your finances and make financial decisions as a couple. Things to consider are your financial situation, needs, goals and objectives, as well as your insurance, investments and Wills.
Common questions to consider
- How do we set a budget for our dream wedding?
- What are the joint financial decisions we should be thinking about now we are getting married?
- Do we need a Will when we are married?
- What types of insurance do we need?
- I am remarrying. Are there any special financial considerations?
- What is a prenuptial agreement?
- Are there any tax minimisation strategies for married couples?
How we can help
- Review and help you set goals and time frames
- Review and analyse your joint income and spending patterns
- Review financial commitments and debts
- Review your individual and joint investments
- Identify opportunities to save money
- Recommend savings or investment products to achieve your goals
- Review, recommend and arrange appropriate insurance
- Facilitate any estate planning requirements that are needed
Becoming a parent
You often hear new parents say that having a baby is an amazing, life changing experience. Nothing is ever the same again! At a time when every aspect of your life is changing, the last thing you want to think about is money. But while there may not be ways to reduce the financial commitments, there are things you can do to plan and manage them more effectively.
When you are planning a family you may want to consider the financial costs and consequences. Things to think about are how much you will need to live and whether you need a savings strategy.
Common questions to consider
- What happens to my job while I’m on parental leave?
- Can I afford to be off work for a year?
- Will we be entitled to any government benefits?
- How much do I need to earn to make going back to work worthwhile?
- What happens to my super while I’m on parental leave?
- My insurance premiums are paid through my superannuation. What happens to my insurance cover while I’m on parental leave?
- Do I need a Will?
How we can help
- Develop a plan for your goals and your time frame
- Set a budget prior to having a family or if you’re off work with a family
- Develop an investment strategy to accumulate money for long term goals like private education
- Review, recommend and arrange appropriate insurances
- Recommend superannuation strategies to help you continue saving for retirement and minimise the total tax you are paying right now
- Recommend if you need a Will or need to review your Will
Children’s Education
A good education is one of the best gifts you can give your child, but although it doesn’t have to, it can cost a lot of money. A little research and planning now could save you some financial worries in the long run. The earlier you start to save the better.
Common questions to consider
- How much will my children’s education cost?
- When should I start investing for my child’s education?
- What types of savings plans are available?
- Should I put investments in my child’s name?
- My child starts secondary school next year. Is it too late to start saving?
How we can help
- Develop a plan based on your goals, situation and timeframe (eg how much it is likely to cost to educate your child or upgrade your house)
- Set an investment and budget management strategy to accumulate money for your goals
- Review, recommend and organise appropriate insurance
- Recommend superannuation strategies to ensure you’re still saving for retirement and minimise the total tax you are paying right now
- Recommend if you need a Will or need to review your Will
What to do next
If you need help taking the next step, contact us today.
Disclaimer:
This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.