Financial planning is something for the rich and money minded?
If this is your view of what it's all about, listen up! Financial planning is about helping you meet your life goals. Not financial goals as well as not just financial goals are the goals that you want to reach and your finances need to help you reach. You want the new Maserati, well who doesn't.
So how do you know whether or not you can afford it?
You want to send the kids to a private school in a few years time.
You're stressed over how you are going to pay for that?
You're divorcing and selling the house. Can you afford to buy another? Can you afford not to?
You're earning good money but you're not sure how long you can work under such pressure and how can you make things easier down the track?
Flying economy is not something you want to contemplate into the future, is there a time where you won't need to anymore?
These are not financial goals per se, but you do need to control your finances in some way before you can confidently and comfortably achieve them. So who can help you? Good financial planners have great listening skills. They will talk to you, understand your goals, discover what keeps you awake at night and will endeavour to give you comfort through a robust financial plan.
Investments are secondary, organising strategy and a plan comes first and making sure that you are aligned on what you want to achieve through the professional relationship. It's important that you feel comfortable with the planner you will be working with, because a good financial planner will see you through many life events and adapt your plans to accommodate marriage, children, new job, retirement and the things that lie in between.
Live the life you want! Talk to your financial adviser to ensure you have your finances in order and put plans in place to reach the goals that matter to you.
This information is current as at 13/07/2015.
© BT Financial Group - A Division of Westpac Banking Corporation. This document provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such. This information does not constitute financial advice. It has been prepared without taking account of your objectives, financial situation or needs. Because of this, before acting on this information, you should consider its appropriateness having regard to your objectives, financial situation and needs. Information in this blog that has been provided by third parties has not been independently verified and BT Financial Group is not in any way responsible for such information.