Caption:
Alt:
Link:
Target:
 

 

Financial Planning for the Young Professional

By Arijeet Chakrabarty

 

Knowing how to manage money is important for everyone irrespective of one’s profession, financial circumstances, lifestyle etc. Young adults need to understand that financial planning for the future can no longer be restricted to those approaching retirement. To get ahead in life one needs to plan one’s finances in addition to other responsibilities. As a young professional just starting out, the future can seem a long way off so it’s understandable not to spend too much time thinking about things like investing, insurance or even retirement. However, life moves pretty quickly and with the ever-increasing life expectancy in Australia and the uncertain future of social security it is never a bad idea to put a plan into perspective.

Financially Planning is about breaking down long term goals into smaller achievable goals and a financial adviser can help young people start their financial journey by focusing on some basic principles such as working out a budget, putting goals and objectives into perspective, sorting out superannuation and even starting off an investment portfolio. It is always better to start thinking about your long-term financial success early as planning over the long term means that you will have the potential to achieve more.

Typically a young adult should understand the importance of:

  • Money management
  • Working out a budget
  • Identifying his or her goals
  • Finding the right superannuation fund
  • Reviewing/updating personal insurances

Most importantly, as life circumstances change, one should have a plan that can be adapted to ensure it’s still working for the individual.

For a young professional, it is always wise to get off to a good start so you can feel confident about your future!



Contact Johnston Grocke

©2017 Johnston Grocke - Accountants & Financial Planners - Mortgage & Finance Services | Disclaimer | Site by  JABA Multimedia Design - Adelaide Web Design - Developer © 2014 Johnston Grocke
Accountants & Financial Planners - Mortgage & Finance Services
IMPORTANT NOTICE

On this entire website, information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

No representation is given, warranty made or responsibility taken about the accuracy, timeliness or completeness of information sourced from third parties. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

Anthony Klatt, John Grocke and Mathew Wilkshire are authorised representatives of Paragem Pty Ltd. Paragem Pty Ltd ABN 16 108 571 875, is the holder of Australian Financial Services License number 297276 and these authorised representatives trade as Johnston Grocke.

AG Finance Group is a Corporate Credit Representative (396686) of BLSSA Pty Ltd, ACN 117 651 760 (Australian Credit License Number 391237).