Let me pose a few questions.

If you had:

  • a brain tumor, would you see a dentist?
  • a car with a broken automatic transmission, would you see a doctor?
  • an old (or no) Will, would you see an engineer?

I can imagine you will all say "That’s stupid Ben!"

Why is it I keep hearing people say things like, my mate, my sister, my brother, my colleague, etc. told me.....

  • “I won’t have to pay tax because…..”
  • “I don’t need to worry about my super because I can’t access it for … years”
  • “My business (farm) is my super”
  • “The business will survive if something happens to me”
  • “I don’t need insurance”
  • “I reviewed that 5-10 years ago so it will be all ok”
  • “My assets are safe…. I think”
  • “I’m fit, active and never get sick, so I don’t need to worry”
  • “It’s too late to do anything”

Now sometimes that advice might be prudent and others quite devastatingly wrong. Hence, be careful who you listen to.

Action for the month:

Take the time to think about your financial future and seek advice from qualified people on: developing a retirement, business or family financial plan reviewing your personal and business insurance your family’s superannuation and estate planning

Quote: “Waste your money and you're only out of money, but waste your time and you've lost a part of your life” - Michael Leboeuf


Ben Law