- About Us
- About You
- Case Studies
No matter what you’re doing in your 30s, whether you’re at the peak of your career, still single, studying, married with kids, starting a business or taking a gap year… you should also consider seeing a financial planner.
Ok, why 30s?
For two simple reasons really:
Firstly, you’re still at least two full decades away from retirement. Secondly, you’re likely to be on the upward trajectory of your earning power.
By seeing a financial planner in your 30s you can really set some financial goals in motion that will hold you in good stead over the coming years, and you can make great strides towards saving for retirement.
“Usually, in your thirties, you’re starting to earn what I call ‘real money’,” says Julie Nipperess.
“You’re no longer working only part-time, or casually, or as a ‘junior’ – you’re likely to be earning a young professional’s income.
The temptation then is to spend it, and live the ‘good life’… and there’s no reason you shouldn’t enjoy what you earn! But most people don’t realise they don’t have to make big financial sacrifices to get ahead; every little bit helps.”
Goal setting: Start where you are – then consider where you want to be. Set a goal, and make a plan.
Superannuation: No matter how far off retirement seems, do a health-check on your fund – is it working as hard as it can for you?
“The compulsory scheme in Australia is great,” says Julie. “But many people don’t put too much thought into choosing their super fund, and then they just keep it ticking over. Your 30s are a good time review and consider whether you can contribute more.”
Insurance: With statistics showing that most Australians are better at insuring their ‘stuff’ – stuff like cars and homes – than they are themselves, many don’t realise just what an important strategy personal insurance is.
“If you lost your job and can’t work again, what safety nets do you have in place?” asks Julie. “If you’re only in your 30s, you’ve got a lot of working years ahead of you. The right insurance will protect you. Rents and mortgages can still be paid, medical expenses if need be, and also re-training into a new career if it’s an option.”
Personal insurance cover – income protection, life and trauma insurance, all are well worth the premiums.
Many of us ‘hurtle’ through life – we get busy, charging ahead in our careers, buying homes, having kids – we manage to fund our lives, maybe even save a little, and then hit 50 and start to panic about retirement savings. That’s when most people consider financial planning advice, but if you start earlier, you’re well ahead of the game and you have more options.
While a financial planner will ensure that you’re working towards retirement, a financial planner can also help you create wealth along the way.
A financial planner is like a money coach or a mentor – someone who can help you understand concepts like compound interest, how mortgages work, equity and investment cycles – and help you make decisions that are going to help you reach your financial goals.
“A number of our clients in their 40s and 50s say, ‘I wish I’d known this earlier’,” says Julie.
“All of us hope for financial freedom, whether we admit to it or not. Getting control of your finances is the only way to make it happen. And your 30s are a great time to start.”