Starting a family
The second major financial objective is to provide financial security for yourself and your family. This may include providing partial or full financial needs for education, purchase of home, cars, and other basic needs.
The objective is to provide adequate financial security without placing undue stress on your resources (i.e. make sure you earn more than you spend so you still have the capacity to save). You may still not be able to afford large additional super contributions, but your super should still be working hard for you and providing insurance benefits.
Generally the goal is to get the mortgage under control and build up some equity; you may subsequently be able to use this equity for investment to start creating some wealth in assets outside of super. This is usually the time when your costs are at their highest, so appropriate life and income insurance is critical. You must also ensure you have a will in place.
There is a lot that the planners at Lifestyle can do to help you achieve your goals, to help you track your progress and to help ensure you remain on track. Contact us for an obligation free chat.