Financial planning services are adapted to people of different ages. The individual strategies and services recommended to someone in one stage of life are often different to those that are recommended to people within a different age group. Experienced financial planners will call upon an age group framework to inform the services they recommend. However, financial advisers must consider individual circumstances, life events and long-term goals when making recommendations.

The mid-life stage typically includes people over the age of 30 but under 50. During this stage of life, people start to have increased financial obligations and start considering their financial future more seriously, making it easier to engage these people in financial planning services compared to younger age groups. These people are within an important stage of their own wealth accumulation period.

Milestones within the mid-life stage

During the mid-life stage, many people will experience increased wealth due to career progression and promotions. How mid-lifers manage this increased wealth can significantly affect their financial future, which is what makes financial planning services especially beneficial at these moments. Even if people in this age bracket aren’t experiencing increased wealth, they could use financial planning services to strive for a more comfortable future.

Some of the other milestones and related services during this time are:

• An increased focus on saving for major purchases, such as buying a property
• Saving to start a family
• Paying for children’s education
• Bolstering emergency funds and retirement investments

For these reasons, many mid-lifers can benefit from specific financial services, such as mortgage advice, savings and investment advice, pension brokering and more. Without utilising financial planning services during this stage of life, individuals might miss opportunities to improve their financial circumstances in the future, including during retirement.

Bespoke financial planning services for mid-lifers

As mentioned, it’s crucial that individuals are treated as such and only receive tailored financial planning services. People during this stage of life may need advice and services related to other life events that are fairly common during these ages, such as:

• Business ventures
• Divorce and separation
• Caregiving to parents and loved ones
• Receiving an inheritance or a windfall
• Changing careers and or re-education

Our financial advisers and planners always provide an individual service, which accounts for your specific life events and experiences. Contact us now for more information.