Life can change in an instant, bringing a wave of emotional upheaval that can be hard to navigate. Amidst the turmoil, it’s vital to remember the financial implications of these changes and take proactive steps to safeguard your future.
No matter what you’re currently facing, handling financial pressures with confidence is something you’re more than capable of with the right tools, support and knowledge.
At First Financial, we create personalised plans and strategies that help you stay in control, even when life takes an unexpected turn. With proactive planning, expert advice, and trusted relationships, our clients know they have someone in their corner to manage the financial side of things—so they can focus on what matters most.
The biggest changes and their financial impact
Unexpected life events like the loss of a spouse, divorce, or sudden health issues can quickly alter financial stability, often without warning. These events introduce new challenges—such as changes to income, increased medical or living expenses and the need to restructure financial goals. Even for those with substantial wealth, these disruptions can lead to significant financial stress and uncertainty.
Losing a spouse can result in the loss of a shared income stream or pension, requiring the surviving partner to manage financial matters differently, often for the first time. Without preparation, navigating superannuation, estate matters, and cash flow can become overwhelming, adding financial strain to emotional grief.
Divorce presents a different set of financial hurdles, including asset division, recalibrating budgets and adjusting to a new cost of living. Health issues have the potential to derail both income and long-term financial plans, particularly if they result in early retirement or expensive medical care.
“What I’d say to our clients is, if you’ve experienced a sudden, unexpected life event recently, take a moment to remember that you do have a plan in place and a professional to keep an eye out for you. You’ve got people in your corner,” says First Financial Adviser Paul Cupic.
Personalised financial plans that adapt with you
Our financial planning philosophy focuses on personalised strategies that accommodate your unique needs, goals and circumstances. We recognise that life is unpredictable, and your situation may change over time. When changes occur, you can count on us to guide you through your next steps.
“If something unexpected has happened, come in and talk to your financial adviser. You need to reset the baseline to your new normal and your goals. Once you do that, it’s our job to determine what goes where and to put together a new plan,” says Paul.
You don’t have to feel alone when making difficult financial decisions. We simplify complex processes, whether consolidating investment portfolios, restructuring superannuation, or reviewing insurance policies.
Our goal is to handle these financial matters so you can focus on what truly matters: your emotional wellbeing and your family.
We encourage clients to involve family members early in the planning process to ensure trusted support when it matters most. Having your financial plan and legal documents organised in advance makes it easier to handle unforeseen events and provides peace of mind.
Case Study on financial management following a loss
One of our long-term clients faced the sudden passing of his wife last year. This year has involved restructuring finances and addressing cash flow needs. We’ve also been navigating the estate process alongside the husband and the couple’s adult child, working to simplify the experience for the family. Even though this family was financially comfortable, this loss has still required significant adjustment.
Financially, we have simplified the couple’s original four investment portfolios to two. We’ve ensured our client has enough funds to meet his needs throughout his expected life while leaving a legacy for his son, who will inherit what remains. We are also focused on minimising tax implications related to the transfer of wealth to his son in the future.
Losing a life partner is profoundly difficult, but our client can focus on his family, emotional wellbeing and physical health because he has a financial plan and a supportive adviser. This support alleviates concerns about money as he adapts to his new normal.
We proactively discuss and plan for unexpected loss with all our clients, recognising that life can be unpredictable. As clients age and may face cognitive decline, having a reliable network becomes increasingly important. It’s reassuring that this client has involved his son in the process, ensuring he has the necessary guidance during this challenging time.
Estate planning and insurance
Losing a life partner is profoundly difficult, but our client can focus on his family, emotional wellbeing and physical health because he has a financial plan and a supportive adviser. This support alleviates concerns about money as he adapts to his new normal.
We proactively discuss and plan for unexpected loss with all our clients, recognising that life can be unpredictable. As clients age and may face cognitive decline, having a reliable network becomes increasingly important. It’s reassuring that this client has involved his son in the process, ensuring he has the necessary guidance during this challenging time.
At First Financial, we help clients prepare for the unexpected by ensuring their insurance coverage is sufficient and current. Life, income protection and trauma insurance are critical safeguards to keep your financial plan intact, even in the face of major disruptions.
Talk to the financial planning experts
The best time to prepare for life’s uncertainties is before they occur, but it’s never too late to take action. Whether you’ve already experienced a major change or simply want to safeguard your financial future, a personalised financial plan will help you navigate challenges and handle financial pressures with confidence.
At First Financial, we manage your finances so you can focus on what matters most. We encourage discussing your wishes with your family and involving them in financial decisions when appropriate. Many clients are concerned about ensuring their family will be okay if anything happens to them. That’s why we make everything as simple and straightforward as possible.
To learn more about our financial planning services, including estate and succession planning and insurance, contact a friendly member of our team today
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