Rising Tide Blog

Financial Consultant Tells Of The Hits You Might Take

Posted by Matt Hale

read ( words)

I’ve been working in the field as a Financial Consultant and associated areas for 10 years & there has only been a handful of days where I’ve really felt flat or vulnerable upon leaving the office. In the last 3 months it feels like the goal posts have slightly shifted.

You see, most of the work we do with our clients is fun & exciting – we give them the Freedom to say Yes to what matters most to them – first homes, holidays, investment properties & often just getting a grip on their finances.

But that’s not all we do, we help people pick up the pieces – when a loved one dies, sickness hits or things get financially hard. That’s when we do our best work.

Even The Best Financial Advisors Can’t Predict

Recently it’s really hit me that no-one is bulletproof. It’s provided some tough moments, but equally, it reiterates why I love what Rising Tide stands for. In the last 3 months our community has been rocked by;

  • A 30-something mum with 3 kids diagnosed with progressive bowel cancer
  • 32-year-old guy killed in an instant in a car accident
  • 43-year-old single mother of two told she will never work again due to a stroke
  • A young mum left with 2 kids under 3, following her partners passing
  • 29-year-old female diagnosed with a benign brain tumour

Sadly these are events are happening everyday, just not normally in such close proximity. They also coincide with more high-profile cases of Johnny Ruffo’s brain tumour & Port Adelaide football captain Robbie Gray’s testicular cancer diagnosis.

What I’ve learnt through the process of having conversations with those involved, is that dealing with these transitions is really hard – but more importantly that solid planning & a bit of effort provides peace of mind & freedom to those around us when they need it most.

Here’s a game plan that works;

  • Share your financial situation with someone you trust – and write it down
  • Spend $500 doing your will – otherwise, it’s just plain hard work if you die for someone you love.
  • Get your superannuation & life insurance beneficiaries up to date – just because you want the money to go to a certain person or place, doesn’t mean it will.
  • Get the right insurancedon’t just assume you have enough in your super
    • If you have any type of loan – you need life insurance to clear it
    • If you ever say ‘I love you’ to someone – you need more life insurance than just clearing debts
      If you work – you need income protection to make sure the bills get paid
    • Google ‘trauma cover‘ – and get some – you’ll hate me while you pay it & love me when you claim
  • Most importantly just get the ball rolling in regards to securing your financial position into the future – try the best you can to take the emotion out of it.

Most importantly just get the ball rolling in regards to securing your financial position into the future – try the best you can to take the emotion out of it.

If you know it’s still going to be at the top of the list come January one – drop us a line or give us a call and we can get someone to help over a coffee.

Then once it’s you can go back to listening to those Tigers fans who haven’t slept yet, & enjoying the Melbourne sun when it comes up.