|
Life Cycle Financial Guide
|
This table shows the
stage in life when one first purchases or acquires the typical
financial products shown. Most people will have some of the
products (e.g. mortgages) over multiple stages of ones life.
|
|
Typical Financial
Requirements
|
Young Adult
|
Parents with young children
|
Parents with
older children
|
Parents: children left
|
Retired couples
|
| Education Loan |
X
|
|
|
|
|
| Car Loan |
X
|
|
|
|
|
| Personal Loan |
X
|
|
|
|
|
| Regular Savings Plan for Mortgage
Deposit etc. |
X
|
|
|
|
|
| Mortgage |
X
|
|
|
|
|
| Mortgage Protection |
X
|
|
|
|
|
| Life Cover |
X
|
X
|
|
|
|
|
Serious Illness Cover / Income Protection
|
X
|
X
|
|
|
|
|
Maintain Existing Life / Illness Protection
|
|
|
X
|
|
|
|
Regular Savings Plan
|
X
|
|
|
|
|
Pension Plan maximisation
(Personal / Company / AVC's) |
X
|
X
|
X
|
X
|
|
|
Draft Will
|
X
|
|
|
|
|
|
Update Will / Discretionary Trust Will
|
|
X
|
X
|
X
|
|
|
Review Will
|
|
|
|
|
X
|
|
Wealth Creation
(Lump sum Investments / Regular Savings)
|
|
X
|
X
|
X
|
|
|
Tax Planning
|
|
X
|
X
|
X
|
|
|
Inheritance & Gift Tax Planning
|
|
|
X
|
X
|
X
|
|
Low Risk Investments
|
|
|
|
|
X
|
|
Pension Fund
(Retirement Options - Annuity V ARF's)
|
|
|
|
|
X
|
|
Income & Capital Security
|
|
|
|
|
X
|
