With a new baby’s future to think about as well as their own, Jen and Nick wanted to ensure their finances offered the whole family security.
Like many first-time parents, Jen, 36, and Nick, 47, have found themselves rethinking their financial priorities once their baby arrived. While Jen’s initial plan was to return to work part-time after her maternity leave, staying home longer is appealing — but it would have an impact on their finances and Jen’s super. The couple is also concerned about what would happen if either should fall ill, have an accident or pass away — they want to be sure the family’s financial future is secure.
Unsure of the best course to take, Jen and Nick decided to speak to a licensed financial adviser. They wanted to learn how they could set themselves up securely in case of an unexpected event, and to make sure that their strategies for optimising their financial position were sound.
Jen and Nick felt nothing but relief after receiving the advice. “It isn’t easy to think about worst-case scenarios, so it was tempting to put off things like finalising our enduring power of attorney, wills and insurances. But it’s a huge relief to know everything is in place,” Jen says. Jen and Nick are now confident they’ve explored all the options and made the right decisions to secure their family’s financial future.
We all want the best for our family — and that means making sure their financial future is secure. Listed below are some tips which can help you decide on the steps you need to take.
