Generations Personal and Professional Financial Advice WodongaFinancial Services Partners

Financial advice for young adults

If you're young and studying or building a career, you might not think there is a lot an adviser can do for you until you get more cash in the bank. In fact, now is the time you should be setting some financial goals and putting in place a savings plan to help you buy that new car, plan the 'round the world' trip, or save for a home or investment property deposit.

Managing your money properly can make a big difference to your lifestyle both now and into the future.


Many of our older clients approaching retirement wish they started at your age – Why? Because they are not ending up with the retirement lifestyle they thought they would get – it's a lot worse than they'd expected. Start thinking about:

  • Your first superannuation account
  • Government co-contribution
  • Making an investment choice
  • How can you keep adding to your super if you begin a family or stop working?

Retirement planning

Retirement planning – you've got to be kidding me right? Well no actually - there are a couple of issues you need to think about.

  • How much will I need in retirement?
  • Help me define my lifestyle and financial goals and objectives for now and for later


Committing to a savings plan and making sound investments are important factors in growing your wealth.

  • What is your savings goal: Saving for a car, holiday or home deposit
  • Gearing/Cashflow management
  • Paying for or paying off university/personal loans


Personal Insurance is a really important part of your financial plan - you work hard to build assets – and you should think about protecting them in case something goes wrong. There are a number of different types of personal risk insurance covers that you can think about.

  • Income protection
  • Trauma insurance
  • Life insurance
  • Total & Permanent Disablement (TPD)


Taxation may be exciting as watching the grass grow, but thinking about how you can get the most out of your financial plan is something you and your adviser should discuss.

  • Investment reporting for personal tax and CGT issues
  • Debt management strategies ie: set up an offset account/debt consolidation

Redundancy/changing jobs

Growing your career is important and as you change jobs, you should make sure you are still on track to meet your financial goals and objectives.

  • Managing your income and expenses
  • Re-assessing your goals
  • Keep track of your super

Estate planning

Crikey! – if it wasn’t serious before, it’s getting serious now! In the event of a worse- case scenario, what will happen to your assets?  Your Will is arguably the most important document that you will ever sign, because it gives away everything that you own.

  • How do I make sure my assets goes to who I want them to?
  • Superannuation - Binding nominations versus Trustee decision – what's the difference?
  • If something happens to me, who will look after my children?

Legislative/ Government changes

From time to time the government makes changes – the Government co-contribution scheme is an example of this –for some people it can help you boost your super by up to $500 each year!

  • Changes and opportunities
  • Minimizing tax

A brighter future.®

Planning for your financial future should be a positive experience and that's where we can assist. We can help you work through your financial goals and objectives to identify the options available as well as provide you with tailored solutions.

By taking control, you increase the likelihood that you will achieve your financial goals and objectives.

The information within is general advice only, prepared without taking into account any of your individual objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. You should obtain a Product Disclosure Statement relating to products mentioned before making any decisions. For Australian residents only.

Graham Jenkin and Megan McGrath Authorised Representatives of Financial Services Partners Pty Ltd (ABN 15 089 513 587 AFSL 237590)
Nilmar Pty Ltd (ACN 122 436 891) as trustee for Generations Unit Trust (ABN 16 990 501 129) trading as Generations Personal & Professional Advice is a Corporate Authorised Representative of Financial Services Partners Pty Ltd (ABN 15 089 512 587 AFSL 237590).