As seasoned financial planners with years of experience, we can’t over emphasise the importance of seeking professional financial planning advice in your twenties. This pivotal decade in your life often marks new beginnings, career pursuits and personal growth, but it’s also a time when you can make significant financial choices that will have a lasting impact on your future.
Your twenties are the perfect time to lay a strong foundation for your financial future.
Consulting a financial planner early on can help you create suitable financial habits, including budgeting, saving and investing. These habits have the potential to compound over time and lead to financial success later in life.
Setting clear financial goals
At Step Up Financial we can assist you in setting specific, achievable financial goals. Whether you want to buy a home, travel the world, retire early or invest in property or shares, a professional can help you create a roadmap to reach these objectives. By having well-defined goals, you’ll be more motivated and focused on achieving them.
Many young adults accumulate debt in their twenties, particularly from loans and credit cards.
A financial planner can help you manage and reduce your debt effectively, which is crucial for your long-term financial health and credit rating. They can provide strategies to pay down high-interest debts and avoid accumulating unnecessary debt.
Risk management and optimising investments
In your twenties, you are more likely to have access to disposable income, making this period an ideal time to begin investing for your future. A financial planner can guide you in making informed investment decisions that align with your risk tolerance and financial goals. They can help you diversify your portfolio and make the most of compounding interest to grow your wealth over time.
Protecting your financial well-being is essential, especially as you accumulate assets and build a career. We can help you understand the importance of insurance, whether it’s health, life, disability or property insurance. They can assist you in choosing the right coverage to mitigate potential risks.
Tax and financial literacy
Understanding the tax implications of your financial decisions is crucial. A financial planner can help you optimise your tax strategies, ensuring you keep more of your hard-earned money. We provide advice on tax-advantaged investment accounts and other tax-saving opportunities.
It is valuable time to upskill into a level of financial literacy. Consulting us earlier is a valuable opportunity to learn about personal finance. We can explain complex financial concepts in simple terms, helping you build a strong financial knowledge base that will serve you well throughout your life.
Life can be unpredictable, and financial emergencies can arise at any time. A financial planner can help you establish an emergency fund to provide a financial safety net. Having readily accessible funds in times of crisis can prevent you from going into debt or making hasty financial decisions.
Accountability and guidance
Helping people achieve financial freedom and independence drives us at Step Up Financial. We were once where you are now and often look back, wishing we had access to financial guidance or a financial coach at a younger age.
One of the most significant benefits of working with Step Up Financial is the accountability and guidance we provide. We can help you stay on track with your financial goals, make necessary adjustments as life circumstances change and navigate the complexities of the financial world.
Seeking professional financial planning advice in your twenties is a decision that can set you on a path toward long-term financial success and security. Our guidance can help you establish good financial habits, achieve goals, minimise debt and make informed financial decisions. So, whether you’re just starting your career, undertaking a course, or you’re at uni, consider reaching out to a financial planner at Step Up Financial and start building a brighter financial future today. Your older, wiser self will undoubtedly thank you for it.