Major life changes rarely arrive one at a time.
For many people, illness, injury, or an unexpected event can turn everyday life upside down emotionally, practically, and financially. In those moments, financial advice isn’t about chasing returns or complex strategies. It’s about creating stability, understanding your options, and knowing what to do next.
This is a real-life example of how financial advice after a major life change helped one client regain clarity and confidence during an incredibly difficult period.
(Client details have been changed for privacy.)
When everything changes at once
When “Sarah” first came to Greybox Wealth, she was navigating several major life changes at the same time.
After being diagnosed with a serious neurological condition, Sarah was no longer able to work. Around the same period, her home was destroyed in a fire, resulting in a significant insurance payout. She was temporarily living with friends and relying on government support while trying to work out what her future looked like.
She needed help understanding her options and knowing what to do next.
The financial challenges Sarah was facing
Like many people going through a major life change, Sarah felt overwhelmed by the number of decisions in front of her. Her key concerns included:
· How to responsibly invest a large insurance payout
· Whether she was eligible for Centrelink support and how to apply
· How her superannuation should be structured going forward
· Whether she could access insurance benefits held inside super
· How to generate a reliable income now that she couldn’t work
· Making sure her money remained accessible if her health or circumstances changed
Importantly, Sarah also wanted reassurance that any plan put in place could adapt over time — not something rigid or overly complex.
Why financial advice after a major life change matters
During periods of stability, people often make financial decisions slowly and with plenty of time to reflect. After a major life change, that luxury disappears.
Health issues, sudden financial windfalls, or changes in living arrangements can create pressure to act quickly — sometimes without fully understanding the long-term implications.
This is where financial advice after a major life change becomes critical. It helps ensure decisions are made thoughtfully, with a clear understanding of risks, trade-offs, and future flexibility.
How we helped: creating structure and breathing room
Our first step with Sarah wasn’t to talk about investments. It was to listen.
We spent time understanding her health situation, her income needs, and what mattered most to her day-to-day. From there, we worked through her options step by step, using plain English and focusing on practical outcomes.
Key areas we helped with included:
· Centrelink guidance and support
We explained the difference between JobSeeker and the Disability Support Pension, how Centrelink’s income and asset tests work, and how superannuation is treated under Centrelink rules telling her which benefits she was likely eligible for and how to apply.
This gave Sarah clarity around her likely income support and removed much of the uncertainty she was feeling.
· Reviewing superannuation and insurance
We reviewed Sarah’s existing superannuation and discussed whether she may be eligible to claim on insurance held within super. We also talked through how super could be used as part of her longer-term income strategy, while still keeping funds accessible if needed.
· Structuring investments with flexibility in mind
Rather than focusing on maximum returns, we designed an investment approach that balanced:
I. Growth for the future
II. Defensive assets for stability
III. Liquidity, so funds could be accessed when needed
This was particularly important given Sarah’s health and the need for her financial plan to remain adaptable.
· Selecting the right platform and structure
We recommended a platform that offered flexibility and transparency, with the ability to adapt as her needs change. This allowed investments to be managed and adjusted over time, rather than locking her into a single rigid approach.
· Planning ahead, not just for today
We also discussed the importance of having updated estate planning documents, including death benefit nominations, wills, and powers of attorney — especially given the changes Sarah was experiencing.
The outcome: confidence and control during uncertainty
With a clear plan in place, Sarah moved from feeling overwhelmed to feeling supported.
She now has:
· A structured investment strategy aligned with her risk profile
· A clear understanding of her Centrelink entitlements and income outlook
· Greater confidence that her finances can adapt as circumstances change
· Ongoing advice support, so she doesn’t have to navigate future decisions alone
Most importantly, she knows there is a plan — and that it can evolve as her life does.
Final thoughts: advice isn’t just about money
Financial advice is often seen as something you seek when things are going well. In reality, its true value often shows up during the hardest chapters of life.
Whether it’s illness, injury, the loss of a home, or another major life change, having the right advice can help turn uncertainty into clarity and stress into structure.
At Greybox Wealth, we regularly help clients across regional Victoria, including Bendigo and surrounding communities, navigate complex financial decisions during challenging times.
If you’re facing a major life change and need help understanding your options, professional financial advice after a major life change can make a meaningful difference.