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Identifying your goals

People often turn to a financial planner to help simplify their finances and set achievable financial goals, providing greater confidence to plan for their future.

A financial planner will be able to help you with areas such as:

  • Budgeting
  • Cash flow management
  • A savings plan
  • Superannuation
  • Tax planning
  • Home loan repayments
  • Debt management and reduction
  • Insurance
  • Investments
  • Retirement

Your financial goals will change over your lifespan, so it’s important that you have a financial plan for the stage of life you are in.

Here are some of the common needs of each life stage:

Young to mid-life

You are establishing and building your career and perhaps starting a family. You may be looking at:

  • buying your first home
  • travelling
  • paying off your HECS
  • getting married
  • having children
  • family healthcare
  • business planning


This is your consolidation stage – achieving a comfortable lifestyle and thinking about managing your long-term future. You’re likely to focus on:

  • protecting your lifestyle
  • healthcare
  • investments
  • financing home renovations
  • tax management
  • debt management
  • inheritance
  • retirement planning
  • long-term care planning
  • income protection


With 20 or more years of retirement ahead of you, your priorities will depend on how well you’ve prepared. Your main concerns may be:

  • protecting your assets
  • debt elimination
  • family healthcare
  • helping your children
  • retirement planning
  • wills and trusts
  • business exit strategy


This is the time to indulge in hobbies or travel, enjoy your family and prepare for transferring your wealth.  You may be thinking of:

  • protecting your assets
  • healthcare
  • aged care planning
  • traveling
  • buying a caravan
  • inheritance tax mitigation
  • gifting to family
  • preserving your capital
  • estate planning

Your financial planner should make clear recommendations, outline the risks involved and communicate any possible strengths or weaknesses in your plan.  They should also keep you updated with any changes that could influence your investments, such as market slumps.

It’s important to remember that your financial planner cannot predict the market or ensure investments are favourable.

Once you have decided on your goals, your financial planner will put a financial plan in place.

Source: Identifying your goals – Financial Advice Association Australia (

Lindale Insurances Pty Ltd ATF Lindale Insurances Trust ABN 27 027 421 832 is a Franchisee of Fiducian Financial Services Pty Ltd, Level 4, 1 York Street, Sydney NSW 2000. AFSL 231103 ABN 46 094 765 134.

The information (including taxation) provided on this website is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement.

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