Financial
Roadmap
A clear, personalised path to your financial goals.
11 October, 2019
Embracing retirement alone
First Financial Team
Everyone has a different vision for their retirement. Often it can include lots of time with grandchildren and friends, travel and interesting hobbies… but for some, it is a time of significant change.
While many of us expect to enter our retirement as part of a couple, there are also many people who find themselves newly single at this point in their lives.
Overall, Australian divorce rates have fallen in the past two decades but we’ve seen a statistical increase in the 55+ age group. The number of men in this age bracket involved in divorce proceedings has doubled, and for women the number has almost tripled.
After a divorce there are new challenges ahead for retirement planning but there are also positive aspects that can have a beneficial impact on your wellbeing.
Divorce and your finances
It’s undeniable… divorce comes at a cost. Apart from the emotional toll it has on a person, it can also affect your finances dramatically. This is especially the case for women, who have historically tended to manage more of the household tasks and look after the childcare responsibilities within a family.
Women who have typically relied on the income and assets of their partner for their financial security can find themselves in a vulnerable position.
We know it is common for women to leave the workforce to raise children and to re-enter only in a part-time capacity. This subsequently means they earn less superannuation and already have less funds put aside for their retirement income.
If you are going through a separation, then it is important to be aware of the potential for some financial insecurity and to prepare a new plan for your retirement.
The ups and downs of being alone
Making the decision to go your separate ways can be daunting, but there are some obvious advantages to leaving an unhealthy relationship. Not only can it be beneficial to your general wellbeing, it may be easier to live your dream retirement without having to align your vision with a spouse.
However, the cost of living for a single doesn’t necessarily equate to half that of a couple.
Many day to day costs are the same regardless of one or two people… for instance, car registration rates won’t change, home and contents insurance is likely to be similar and some utilities will vary only slightly.
Government benefits are also assessed differently for couples and singles. Thresholds for singles are generally not half of those for couples. For example, a single can earn up to $174 of income per fortnight before their Age Pension reduces, while a couple can earn $308. Once you have a handle on your new financial situation, it is worth checking whether you are eligible for benefits that you may not have been while you were in a couple.
If your family home is to be sold as part of the separation then finding a new property also needs to be taken into consideration. If you are in a rental property, a smaller dwelling could come at a lower cost, but if you still have children living at home this might not be a suitable option. Again, we recommend being prepared to make some tough decisions… including about whether it’s time the kids flew the nest. With your retirement just around the corner you need to make sure you feel positive about the future.
Make the most of what you’ve got
As part of your divorce, it’s likely that a financial settlement would be involved. This is where you need to be mindful of making the most of what you receive. When the court decides how to divide assets and debts, everybody will have their own unique situation. Seeking professional financial advice can help you determine the best way to manage your assets and prepare for the years to come.
Developing and sticking to a budget can certainly help you maintain a level of financial security and is a good habit to start early.
Smart financial management is the best way to make sure going solo in retirement brings you all the happiness you deserve.
To find out how we can help you with your retirement planning, contact our team today.
YOUR FINANCIAL JOUNEY
Building your financial future
Every client journey begins with a conversation. We look closely at where you are now, what matters to you, and what’s possible. Then we structure our advice to match.
Financial
Tax
Efficiency
Proactive strategies to maximise your tax savings.
Personalised
Investing
Tailored plans aligned with your goals and risk profile.
Ongoing
Support
Regular guidance to keep your plan on track.
CLIENT STORY
Jan
Life Stage:
Retired
Background:
Jan's husband managed the finances until entering aged care. Jan gradually stepped into the financial picture with First Financial’s support.
- Needed financial guidance after business sale
- Lacked experience managing complex finances
- Sought consistent income and long-term structure
- Wanted a familiar, reliable relationship
- Provided long-term support through several transitions
- Helped structure income reliably for retirement
- Empowered Jan through education and reassurance
- Delivered calm advice through both grief and growth
“The money just comes in. I don’t have to think about it. And I know they’re always there. They’ve always been there in the background, just quietly making things work.”
CLIENT STORY
John
Life Stage:
Retired business owner
Background:
After decades of running a successful pharmacy, John sought financial guidance to simplify decision-making and support long-term planning.
- Navigated the sale of a long-held business
- Wanted simple, honest advice after burnout
- Needed a hands-on adviser he could talk to
- Desired financial guidance aligned with lifestyle goals
- Crafted a strategy that supports relaxed, post-work life
- Offered approachable, plain-English advice
- Maintained an ongoing, trustworthy relationship
- Provided flexibility with investments and cash flow
“I feel genuinely supported by First Financial. I can ask anything, and there’s no pressure, just clear advice and real care. The money’s growing, I’m not stressed about it, and I feel completely at ease for the first time. I don’t miss work, but I’d miss the support I get from First Financial.”
CLIENT STORY
Larry and Virginia
Life Stage:
Newly retired
Background:
As retirement neared, Larry and Virginia were ready to enjoy travel, family, and freedom, without uncertainty. A friend recommended First Financial, and from the first meeting, they had a clear plan, a safety net, and people they trusted.
- Wanted to travel and enjoy retirement without second-guessing finances
- Needed a structured income plan with buffers for the unexpected
- Valued guidance that felt honest and human, not overcomplicated
- Needed people they could call and count on
- Created a reliable income stream with a set-aside safety net for the unexpected
- Gave them the freedom to travel and spend meaningfully with family
- Kept advice simple, thoughtful, and tailored to what mattered to them
- Built a lasting partnership based on trust
“We’ve travelled the world, Europe, Sri Lanka, Vietnam, without once stressing about the money. They made everything feel simple and gave us the confidence to live well. We feel secure because we know exactly where we stand, and that peace of mind means everything.”
CLIENT STORY
Graeme and Craig
Life Stage:
Retired and semi-retired
Background:
Referred by friends helped through aged care, Craig sought secure financial guidance after inheriting funds.
- Invest inheritance securely without high risk
- Maintain a modest lifestyle with confidence
- Building trust for someone new to advice
- Accessible, personalised advice
- Provided a low-risk strategy with regular income
- Reassured with steady, market-aware updates
- Established trust through responsiveness and warmth
- Delivered calm, expert support through all transitions
“We feel very secure with First Financial, the income just comes in, and we know everything is being looked after. It’s not just safe, it’s smart. We’ve recommended them to others because we genuinely believe in the team.”
CLIENT STORY
Lyn
Life Stage:
Retired widow
Background:
Lyn stepped into financial management for the first time after her husband's passing. With patience and care, First Financial supported her through grief, learning, and empowerment.
- Had never managed finances before
- Was overwhelmed after her husband’s passing
- Needed plain-English explanations and patience
- Sought emotional support and practical clarity
- Offered caring, respectful advice at her pace
- Rebuilt confidence with diagrams, stories, and reassurance
- Supported gradual decision-making around retirement
- Remained a trusted constant through major transitions
“After my husband passed, I was completely unsure where to start. First Financial gave me the space to learn, to ask questions, to grow confident. They drew a diagram that I still have. And now, I sleep well at night knowing I’ve got someone in my corner.”
CLIENT STORY
Tim and Adam
Life Stage:
Early retirement and working professional
Background:
When Tim received an overseas medical settlement, he and Adam had just 14 days left in a 90-day window. They needed clear guidance, fast. A referral led them to First Financial.
- Only two weeks left to meet urgent legal and financial deadlines
- Wanted to preserve capital while setting up income for the future
- Needed a plan that supported both retirement and ongoing work
- Hoped to find advice that felt personal, not transactional
- Managed every moving piece, from legal documents to super rollovers
- Designed a strategy that supported both Tim’s retirement and Adam’s career
- Offered clear guidance with steady follow-through, with no stress or pressure
- Built in ethical investing and flexibility, without sacrificing performance
“We’re in totally different life stages, but First Financial built a strategy that supports us both. From urgent legal steps to ethical investing, they handled every detail with calm, care, and real expertise. It’s financial freedom without compromise, and we couldn’t have done it without them.”
Meet our advisers
