{"id":1026,"date":"2017-05-01T05:47:38","date_gmt":"2017-05-01T05:47:38","guid":{"rendered":"http:\/\/actinvest.com.au\/?p=1026"},"modified":"2017-05-01T05:47:39","modified_gmt":"2017-05-01T05:47:39","slug":"lifes-financial-turning-points-good-and-not-so-good","status":"publish","type":"post","link":"https:\/\/actinvest.com.au\/index.php\/lifes-financial-turning-points-good-and-not-so-good\/","title":{"rendered":"Life&#8217;s financial turning points: good and not-so-good"},"content":{"rendered":"<p><strong><em><a href=\"http:\/\/www.abs.gov.au\/ausstats\/abs@.nsf\/mf\/3310.0\" target=\"_blank\"><span style=\"color:#0000FF\">The marriage and divorce statistics for 2015<\/span><\/a> sadly suggest that 43 per cent of Australian marriages may end in divorce. Significantly, this number-crunching does not include separations of de facto couples.<\/em><\/strong><\/p>\n<p style=\"text-align:center\"><img loading=\"lazy\" alt=\"\" height=\"318\" src=\"http:\/\/www.plannerweb.com.au\/images\/life-financial-turning-points.jpg\" width=\"375\" \/><\/p>\n<p>\u00a0<\/p>\n<p><span class=\"st_facebook\">&nbsp;<\/span> <span class=\"st_twitter\">&nbsp;<\/span> <span class=\"st_linkedin\">&nbsp;<\/span><br \/>\n \u00a0 \u00a0<\/p>\n<p>\u00a0<\/p>\n<p>Unfortunately, the breakdown of a relationship is a reality for many couples and it is a reality with typically damaging financial and emotional consequences.<\/p>\n<p>We face a series of widely-shared financial turning points during our lives. Yet how we handle them obviously differs widely.<\/p>\n<p>ASIC&#039;s personal finance website MoneySmart has long published a comprehensive feature, Life&#039;s events \u2013 last updated this month \u2013 with tips about how to deal with our financial turning points, the good and not-so-good. And unsurprising, the breakdown of a personal relationship numbers among the life events on ASIC&#039;s list.<\/p>\n<p>Financial turning points include receiving our first pay, joining our first super fund, leaving home for the first time and entering a personal relationship. Among the others are buying our first (second or third) home, dealing with serious illness in our families, coping with a partner\u2019s death, losing our job and eventually retiring.<\/p>\n<p>A decision to begin saving seriously to meet our long-term goals and the creation of our first financial plan are high among our key financial milestones.<\/p>\n<p>Thinking about the feasibility of \u2018downsizing\u2019 to a smaller home as we age is becoming more common and finding suitable age care is climbing higher in the list of life events with the ageing of the population.<\/p>\n<p>There are straightforward ways to help prepare for financial turning points such as budgeting, saving, investing, obtaining adequate insurance, considering quality professional advice when necessary and estate planning.<\/p>\n<p>How we cope as investors with sharply rising or sharply falling investment markets can be a life-changing event. Investors who set an appropriately-diversified strategic portfolio, and who remain disciplined and focused on their long-term goals are best-placed to cope with market upheavals.<\/p>\n<p>It is critical to try to stop one life event having negative implications for another life event. For instance, a failure to remain disciplined during a fall in share prices of the magnitude that occurred during the GFC may reduce your standard of living in retirement \u2013 even though that retirement may be many years away.<\/p>\n<p>Planning for life&#039;s financial events is at the core of sound financial planning.<\/p>\n<p>\nRobin Bowerman<br \/>\n\u200bHead of Market Strategy and Communications at Vanguard.<br \/>\n5 April 2017<br \/>\nwww.vanguardinvestments.com.au<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong><em><a href=\"http:\/\/www.abs.gov.au\/ausstats\/abs@.nsf\/mf\/3310.0\" target=\"_blank\"><span style=\"color:#0000FF\">The marriage and divorce statistics for 2015<\/span><\/a> sadly suggest that 43 per cent of Australian marriages may end in divorce. Significantly, this number-crunching does not include separations of de facto couples.<\/em><\/strong><\/p>\n","protected":false},"author":1,"featured_media":1027,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1026"}],"collection":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=1026"}],"version-history":[{"count":1,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1026\/revisions"}],"predecessor-version":[{"id":1028,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/posts\/1026\/revisions\/1028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media\/1027"}],"wp:attachment":[{"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=1026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=1026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/actinvest.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=1026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}