Getting Financial Advice in Your 20s

Building financial independence in your twenties is one of the smartest moves you can make. It lays the groundwork for a secure future, giving you peace of mind as you progress through your career and life.

At Affluence Private Wealth, we’re often approached by clients who ask us to guide their children, typically young professionals at the start of their careers.

One recent conversation stood out: a 24-year-old asking, “How can I achieve financial independence?” It’s a big question, and her proactive mindset should serve as inspiration for anyone in their twenties.

Getting financial advice in your 20s

Here are five key steps to take control of your financial future:

1. Consolidate Your Superfunds

   If you’ve accumulated multiple superfunds, it’s time to consolidate. Combining them will reduce fees, eliminate inefficiencies, and help maximise your retirement savings over the long haul.

   
   

2. Avoid Lifestyle Debt

   Steer clear of taking on debt to fund holidays or other short-term lifestyle expenses. Focus on paying off what you owe, especially high-interest debts like car loans, so you’re not held back financially as you build your future.

   
   

3. Establish a Savings Plan

   Start saving money for major goals, such as a house deposit. Automate your savings by setting up regular transfers to a high-interest savings account as soon as you’re paid. It’s simple, effective, and eliminates the temptation to overspend.

   
   

4. Start Investing Strategically

   Review your investment opportunities and focus on making small, consistent contributions. Align your investments with long-term financial goals to ensure your decisions today pay off in the future.

   
   

5. Choose the Right Financial Partner

   If you’re in a relationship or considering one, align yourself with a partner who shares your financial values. Differing attitudes toward money can lead to unnecessary stress, both financially and emotionally.

At Affluence Private Wealth, we specialise in helping healthcare professionals and their loved ones achieve financial independence. Whether it’s establishing good habits early on or realigning a financial plan later, our tailored advice is designed to deliver results.

If you’re looking to get ahead early and secure your financial future, let’s connect by booking a complimentary meeting.

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