'Not making a decision' is actually 'making a decision'
Sometime ago I approached my Financial Planner and enquired about further strategies to save money that perhaps I hadn't yet considered. She took some time to briefly touch on some points and then offered me the opportunity to put my financial situation down on paper and give her the full picture of my circumstances, allowing her to give me advice that would be of the most benefit to my future.
She asked me to consider some of the following things:
- My budget - what I am spending every week/month on fuel, pets, groceries, childcare, motor vehicle maintenance, electricity etc?
- What my current debt commitments are - mortgages, credit cards, personal loans, etc?
- Do I have insurances - motor vehicle, private health, TPD for example?
- What I currently had in assets?
- What my future looked like - when did I want to retire? Did I want to pay off my mortgages in a certain time frame? Did I want to send my children to private schools, go on holidays, buy a new car?
I went away from this meeting and I felt quite overwhelmed at the things that I had to think about and disclose to someone else. All that kept going through my mind was...
- Did I really want to face up to that fact that what I spend every week may not actually be what I have budgeted in my spreadsheet?
- I don't currently have private health insurance, I can't afford insurances and if I did look into it, what about my current health conditions or genetic predispositions? There is just 'no way' I can even consider this in my budget!
- I've made some educational decisions in my past that have seen the accumulation of a lot of debt and I have spent the last several years paying this off, so my assets are not where they 'could' have been. How embarrassing!!
- How could I possibly commit to where I want to be in years to come. What if I change my mind or the reality of retiring young is unattainable? I am not sure I am ready to hear the reality of my situation.
Does the above situation sound familiar to you? Decision making can paralyse you, because ultimately, we may be afraid of the outcome or the judgement. But the reality is in 'not making a decision' we are actually 'making a decision' to stay where we are. When we hope that time will bring the clarity we need, we put off playing an active role in our lives and we risk the decision being made for us. Can you live with the regret of not taking control of your direction in life?
When you sit down with your Financial Planner and face the reality of your situation, you take control of your future. There is no judgement about the path you arrived on, what matters is the path to secure your future and happiness. Think about the reward of facing your reality when your Financial Planner takes time to help you see your financial situation differently and you actually...
- Can save towards retiring by your desired age
- Can afford the insurances that cover you and your family in an unexpected event
- Can take your family on the dream holiday you have always wanted to go on
- Can pay off your mortgage before you expected
There is no better feeling that knowing your future is secure. Even if you start late and you only end up 75% to where you desired to be, isn't that better than not having started at all?
Your future is worth so much more than your perception of someone else's judgement. Call The Money Edge and make the decision to commit to your future - you are worth it!
The Money Edge | Bundaberg