Canstar recently carried out a survey of 2500 individuals in which two-thirds of participants said they do not have a long-term savings plan and only 1 in 4 think banks are a good place to go for financial advice.
Not planning for the future is like driving in a foreign country without a map. With no idea where you’re going, your holiday could become your worst nightmare. In the planning context, your nightmare maybe running out of money too early, or alternatively, missing out on the life you want because you don’t realise that you have plenty of money.
It’s no one’s dream to end up living off NZ Super and missing out on the better things in life. A great financial plan will find the balance between gratification now when you are younger and having enough wealth to live the life you want throughout retirement.
You may feel confident to develop a basic financial plan yourself, however, some of the more complex financial decisions require specialist advice.
You will be faced with big life choices and you may react to the impulses of the moment, or what you read in the news, rather than sticking to the plan and making well thought out decisions. This will lead to doing the wrong thing at the wrong time for the wrong reasons. A financial planner will improve the quality of your decisions and act as a mentor to keep you on track.
The right financial planner will take the time to learn about your family goals and help to create a plan to provide the roadmap. This is the first step before recommending an investment solution. You should be concerned if an adviser spends time talking about themselves and goes straight to the investment solution, as they are most likely a sales representative rather than a planner. The right, trusted adviser for you will be someone more devoted to your financial success than anyone else, who doesn’t have your last name.
Why not start the journey today? Seek out great advice and be guided to the future you dream of.