Financial advice a winning game plan

  • 22/09/2015
Financial advice a winning game plan

This article is sponsored by AMP

As a small player on the global sporting scene New Zealand punches well above its weight.  We’re proud of our achievements, and rightly so.

Determined Kiwis that reach the pinnacle in their chosen sport display a combination of talent and dedication, but what we don’t often see is the support behind them.  Coaches and trainers providing the experience, insight and resources that are used to produce a better performance. 

Blair Vernon, AMP Director of Advice and Sales says that when it comes to Kiwis planning for their financial futures, we should look to build a winning game plan.  By getting the right financial advice at the right time, this can make all the difference in achieving your future financial goals. 

“If you look at sport, even the best teams and individuals need a coach to help them stick to the game plan and make changes along the way to achieve a winning result.  Whatever your reasons, using an adviser over doing it yourself has great benefits – from helping you reach your financial goals and future-proofing your finances, to motivating you to make the necessary decisions that set the course”.  

Not getting financial advice can usually be put down to a few simple reasons for most people:

Everything will sort itself in time. And it will for sure, but maybe not the way you’d like.  Apathy towards planning your future is a big one.  We’re all busy and it can be struggle thinking about what we have on this weekend, let alone what the future might hold for us in 10, 20 or 30 years’ time. 

I’m pretty savvy when it comes to money – I can do it myself.  We all have pride and want to show that we’re capable with money, but just having KiwiSaver and a term deposit in the bank may not be enough.  Are you asking yourself all the right questions? Do you know what questions you should be asking? Getting good financial advice now can help you work through all the different aspects of your life and future plans.

I don’t know who to ask. This is a common one for a lot of people and can lead them to defaulting to one of the above.  When do you know when you even need financial advice? Isn’t that only for people with a lot of money? These are some of the more frequent questions people ask themselves when thinking about their financial futures. 

Mr Vernon adds that anyone that wants to make good financial decisions in their life should look at getting appropriate advice at some stage. 

“It’s not only about budgeting how you spend and manage money now.  You also need to think about the lifestyle you want for your retirement, how you might protect your family and wealth now, and if you want to leave anything behind for your children.”

The first place to start is to talk to a qualified financial adviser.  Don’t ask your family or friends for advice, but see if they can recommend someone good. Search out good financial services brands and talk to several.  You’d look at more than one house or car when buying those, so look at the market and find the adviser that best fits your needs.  Make sure you ask what they charge and what their advice covers.

Without the right knowledge and experience, planning your own financial plan can be tough.  Talking to a qualified financial adviser means you’ve taken a positive step towards building a winning game plan for your future.

Disclaimer: Information provided is stated accurately to the best of the respondent's knowledge at the time of publication. It is general in nature and should not be construed, or relied on, as a recommendation to invest in a particular financial product or class of financial product. Readers should seek independent financial advice before making an investment decision.