Our financial priorities tend to change as we move through life

November 28th 2019 | Categories: Financial Planning |

financial priorities main


The good news from AMP’s 2018 Financial Wellness Index[1] is that when it comes to stress and money, our stress levels reduce as we move into retirement. Only 7% of Australian retirees aged 65 or over report being stressed about money and 15% of pre-retirees aged 55-64. This is compared to up to 27% among younger age groups.

Let’s take a closer look at how your financial wellness is likely to change through different life stages and what you can do to reduce your stress levels along the way.


1. Starting out

When you’re starting out it’s an exciting time. You know you need to start saving for the bigger ticket items but it all seems a bit abstract. Meanwhile, you might be on a graduate or apprentice wage and facing peer pressure to spend. To get on top of your finances it’s a good idea to start with the basics – budgeting, debt and saving. Get those right and you’re on the way to establishing good habits for life. Here are some ideas:


2. In the thick of it

There’s no time to draw breath. You’re juggling frantically at home and at work… It’s easy to lose track of what’s going out every week, let alone the bigger financial picture. Any talk about long-term retirement planning can seem unrealistic faced with the day-to-day demands of putting food on the table and the need to pay any school fees and keep up with mortgage repayments. You’re at a stage of life when planning is critical. Are your investments inside and outside super working as hard as possible and do you have the right balance between risk and return for your life stage?

Here are some points to bear in mind:


Talk to us to help you work out how to structure your finances to achieve your goals.

[ninja_form id=37]


financial priorities 1
Planning can be most critical mid-life even though you’re in the thick of it.


3. Approaching the finish line

The end is finally in sight. The kids have flown the coop, the mortgage is either paid off or at least more manageable and your financial commitments are finally starting to diminish. You’re potentially still earning a decent wage but now you have fewer outgoings you might be able to free up some more funds for your super savings. Retirement by now should be front of mind – both in terms of what sort of lifestyle you want to enjoy and how you’re planning to finance it. It’s important to make the most of these final years in the workforce to set yourself up.

Here are some areas you can focus on:


4. Enjoying the fruits of your hard work

After worrying about money, family and work for so long you’re relishing a simpler life. You’ve worked hard to put all the pieces in place and now it’s time to enjoy a well-earned retirement. You’re still concerned about interest rates, retirement income and making provision for health and aged care. And you might be keeping your hand in with some consulting, part-time or voluntary work. But good health permitting there’s more time for the good things in life.


financial priorities 2
Setting yourself up for retirement early can help you relish the simple life.


Here are some points to ponder:


How does financial advice fit into the picture?

Financial advice can help you clarify your goals so that you can focus on what is most important to you in life. At Invest Blue we have helped thousands of clients to live their best possible lives. We like to share in the journey with our clients and work hard to help them achieve their dreams and hopes for the future.

Our unique advice process underpins how we work with our clients on their personal journeys. We like to guide you in the best way possible to improve your financial health and wellbeing, and future outlook.

Seeking out financial advice can sometimes be daunting. Check out our Client Stories to see how others have benefited from having financial advice in their lives.


Whatever your stage of life, we can work with you to help you set yourself up to achieve and maintain your financial health. Contact us today.

[ninja_form id=41]

What you need to know

This information is provided by Invest Blue Pty Ltd (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.


[1] Financial Wellness in the Australian Workplace, The Behavioural Architects, Report 2018:




©AMP Life Limited.

First published 15 October 2019