Middle Stage Strategies

Starting a financial plan when you’re over 35

Starting your financial plan when you’re aged between 35 – 50 years is often the best time to begin. Most people are established in their career and have more disposable income to invest, and own more assets, than in the early years.  At the same time, you still have enough time to use the benefits of compounding to markedly improve wealth creation.  There is also a huge range of options and investment choices at this stage.

Some questions about financial planning

Some common questions at this stage of your life might be:

  • How will I finance my children's education?
  • Should I pay off my home loan quickly, or invest, or both?
  • How much income should be contributed to superannuation, and should I have insurance with super?
  • Should I borrow to invest now, or just use my surplus income?
  • How should I manage my debt, and is a debt recycling strategy best for me?
  • How can I make sure my investment portfolio is performing well?

The answers to these questions and the best mix of investment strategies are not always obvious.

Do I need to consider debt restructuring?

Many people often ask us about debt restructuring – looking at all your debts to see if you can consolidate them in order to pay less interest.

If you have multiple debts such as a mortgage, car loan, personal loan and credit cards, you may be wondering if debt restructuring can benefit you. Be aware that sometimes consolidating debts can be worse for you in the long term, that you may pay more interest. Our well considered, experienced approach will show you if restructuring your debt load is appropriate so that you are paying the minimum interest and have the maximum disposable income to invest.

Do I need insurance with super?

It's important to check that the death cover and TPD insurance offered by most standard super funds is enough for your needs.  Your required level of insurance with super cover will change with your life circumstances, for example when you have children.  We can work through the options and check that if the worst happens, you have sufficient insurance cover to cope.

Making tradeoffs

Usually we need to explore what tradeoffs you are willing to make, to reduce your current level of spending, in order to have enough to invest for the long term. Successful investing requires that you reduce your level of spending now, and we can help you work through the options to develop a budget and savings plan that will work for you.

A tailored financial plan

We know that everyone's situation is different, which is why we work with you to develop an individual plan, tailored to your needs, goals, and available investment income. Many financial planners offer a one-size-fits-all, but we make sure we take your circumstances into account before making any recommendations.

You decide the investment risk

We use our experience and unique approach to advise you on your options, but, unlike other financial planning services, the decision on investment risk and what the tradeoffs will be is always yours.  We manage the investments on your behalf and report regularly on progress. You are required to approve all changes.

Contact us today to find out how we can help you plan for your future. There’s no obligation or cost for the first meeting.

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  • Professionals of any age
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