Queensland’s Gold Coast is home to a diverse population at different stages of life. Some residents are focused on becoming financially secure earlier in life, while others are preparing to retire or thinking about how to preserve wealth for the next generation.
At the same time, rising living costs, changing tax regulations and ongoing economic uncertainty are affecting Gold Coast residents in very different ways depending on where they are in life.
As a result, more people are recognising the value of professional financial advice tailored to their stage of life instead of generic advice. Because the right financial strategy at age 40 can be very different to one at 60 or 70.
Over-40 professionals are focusing on building a stronger financial foundation
The median age on the Gold Coast is 39, while the rest of Queensland is around 40. For many people, their forties represent a turning point. Income may be stronger, expenses may be more manageable and excess cash flow is becoming available.
Up to now, they may have focused on building a career, growing a business or raising a family. Many now find themselves earning well but without a clear strategy for turning that income into lasting wealth.
This is the stage where the shift to wealth planning becomes critical. Delaying financial planning any further can create other risks, including lifestyle inflation that absorbs surplus income, tax inefficiencies and under-investment.
A Gold Coast financial planner can work with you to develop wealth creation strategies that include investment planning strategies, ways to maximise superannuation benefits and establishing effective tax structures.
Pre-retirees are maximising the final years before retirement
In the five to seven years before retirement, the financial decisions made during this time carry more weight than at almost any other stage of life. There is still time to secure your financial future but that window is narrowing.
This is the stage where pre-retirees need to ask a few critical questions.
- Is my superannuation on track to support the retirement lifestyle I want?
- Is my investment mix still appropriate, or am I carrying too much risk into retirement?
- Is my debt at a level I can comfortably manage?
Recent and proposed regulatory changes are also influencing retirement planning conversations. Recent Division 296 superannuation tax changes, along with potential reforms to capital gains tax, are prompting some pre-retirees to review how wealth is structured inside and outside their superannuation fund.
This stage can be particularly important for women. Many women retire with lower superannuation balances than men after taking time out of the workforce to raise children or care for family members. That’s why specialist financial planning for women in the lead up to retirement is so important.
Retirees are seeking ongoing financial guidance
Queensland had the largest increase in retirees in Australia between the 2022-23 and 2024-25 financial years (+89,000), according to the Australian Bureau of Statistics data. As the retirement population grows, more retirees are seeking financial advisers on the Gold Coast.
With longer life expectancy, retirement can potentially last 25 to 30 years or more. For many retirees, the concern is not just about having enough to retire on; it’s about making sure it lasts.
Managing finances in retirement requires ongoing financial decision-making rather than a set-and-forget approach. Market downturns, for example, can have a significant long-term impact on retirement savings.
Developing a sustainable drawdown strategy and adjusting it as circumstances change often requires professional financial advice. So too is understanding how income and assets affect Age Pension eligibility, and how to structure finances to optimise entitlements without compromising your lifestyle.
Retirees are also trying to maintain a balance between enjoying their current lifestyle and preserving enough wealth to support future healthcare needs, aged care costs and family wealth management for future generations.
A local Gold Coast financial planner understands the lifestyle costs, property market dynamics and economic conditions that shape retirement in this region, and is well placed to provide ongoing retirement advice that reflects the reality of living here.
Queensland’s growing older population is increasing demand for aged care financial advice
As Queensland’s population ages, more families on the Gold Coast are facing aged care decisions for parents or loved ones.
These transitions are rarely straightforward. Questions around selling the family home, how to fund care, protecting a spouse’s financial position and understanding Government support can be difficult to navigate.
Families are increasingly seeking specialist aged care financial advice to help them understand care options, residential care fee structures, pension entitlements and manage the transition smoothlyons.
Why local financial planning on the Gold Coast matters
The Gold Coast’s unique demographic mix all shape the financial challenges that residents face at every stage of life. Generic advice built around national averages rarely reflects that reality. Working with a financial planner on the Gold Coast offers a more personalised and nuanced approach than you may receive from larger financial institutions.
At RFS Advice, we work with Gold Coast families through many of life’s financial stages, helping them adapt their strategies as circumstances, priorities and long-term goals evolve over time.
If you’re seeking professional financial advice on the Gold Coast, contact the RFS Advice team today. One of our certified financial advisers can help you develop the right financial strategies at every stage of life.
Frequently asked questions
No. Professional financial advice can benefit people at many different income levels. As financial pressures increase, more Australians are seeking guidance around everyday issues such as cash flow stability, debt management, investing and retirement planning.
There is no single right time, but key triggers include when buying property, approaching retirement, receiving an inheritance, starting a family or when facing a significant change in financial circumstances. However, the earlier you engage a financial planner, the more time you have to put financial safeguards in place and build long-term wealth over time.
A financial plan should ideally be reviewed annually, or whenever a major life event occurs. Different life stages bring different financial priorities, and regular reviews help ensure your strategy continues to align with your goals and circumstances.
A local financial planner understands the property market, lifestyle costs, regulatory environment and financial pressures affecting Gold Coast residents and can provide more nuanced advice tailored to local conditions.
General advice warning:
The information and any advice provided in this article has been prepared without taking into account your objectives, financial situation or needs. Because of that, you should, before acting on the advice, consider the appropriateness of the advice, having regard to those things.
