Your financial strategy in this stage will be based around improving your earnings potential and building your financial resources so that you are in a position to make your first big investment commitment.
Typically you will have just started working or are in a position where you are able to climb your vocational ladder and increase your earnings into the future. You may have just started or have some savings in cash which you are building up in anticipation of your first investment purchase.
You may need help in this stage around:
- Improving your financial literacy and education
- Budgeting and cashflow organisation to improve your rate of savings
- Consolidating your many super accounts into one that you can easily track performance
- Establishing suitable levels of personal risk insurances
- Guidance and advice on the best asset in which to invest your deposit (home, investment property or shares?)