Younger clients, starting out in life on their own.
Cash management (budgets and spending plans), savings to buy a house and/or OE, buying a home (mortgage advice), KiwiSaver and protecting their ability to earn income over the long term are all typical areas of discussion.
Clients starting a family and/or business.
All of the above, taking into account the possibility of reduced income coupled with increased expenses. Tax and estate planning often becomes more relevant at this stage of life, and it is helpful to have assistance in thinking through the different priorities that usually arise as a result of having other people dependant on you.
Clients that are in the situation where they are actively seeking to create more wealth.
All of the above, although we notice that clients in this category tend to take retirement planning much more seriously. Various types and strategies of investment are worth considering.
Clients in retirement, wanting to ensure their lifestyle is sustainable.
We are often asked to help determine whether a client’s resources will be sufficient for their lifetime, according to the specific lifestyle goals they may have. In addition, clients at this stage of life often ask us to help provide advice to their children/grandchildren as they are interested in their financial futures.
Please note that these comments and lifetime categories are very general in nature, which is why we recommend for people to obtain tailored professional advice for their unique circumstances.