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The problem with financial advice for those who really need it

Higher mortgage payments and surprise twins have pushed the Mohamad family to financial breaking point, but they cannot afford financial advice.

Lucy Dean

Rate rises and surprise twins have pushed the Mohamad family to financial breaking point, and they would dearly like some professional help.

But with a combined family income of $160,000, Rebecca and Ali are among the growing number of Australians who feel they can’t afford advice because the average annual bill of $4000 represents such a large portion of their wealth.

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Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com

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    Original URL: https://www.afr.com/wealth/personal-finance/two-rate-increases-from-crisis-but-unable-to-afford-financial-advice-20230830-p5e0q3