Money

Seek professional advice

Noel Whittaker
Noel Whittaker

DURING my 30 years in the financial planning industry, I've noticed many Australians do not pay enough attention to their financial future.  Part of the problem is they don't know where to go for advice, who to trust, or what questions to ask.

The need for more people to seek professional advice, and the worrying statistics about the financial wellbeing (or lack thereof) of most Australians is highlighted in The Investment Trends November 2011 Retirement Income Report.

The report states that while 45% of older Australians are concerned about not being able to maintain a reasonable standard of living, nearly 50% of Australians interviewed had made absolutely no financial preparation for getting older.  That in itself is alarming, especially when those interviewed admitted they preferred not to think about their financial futures at all.

This is the challenge for the financial planning industry - convincing Australians it is imperative they seek financial advice and in doing so, make a positive difference to their financial futures.

This week marks the start of Financial Planning Week within Australia.  An initiative of the Financial Planning Association, the annual event's objective is to heighten awareness of the benefits provided by sound financial advice.  This is an ideal time for you to start thinking about seeking financial advice, or to review your current situation if you have previously spoken to a financial adviser.

If you don't have an adviser, I strongly recommend you contact a member of the Financial Planning Association.  FPA members have higher standards of experience and qualifications than required by law, plus a commitment to the FPA Code of Ethics that puts client interests first and exemplifies best practice.

The earlier you seek professional financial advice, the better your chances of avoiding financial stress.  If you're already in a good financial situation, professional advice will
give you the opportunity of improving your position even further.

Noel Whittaker is the author of Making Money Made Simple and numerous other books on personal finance. His advice is general in nature and readers should seek their own professional advice before making any financial decisions. Email: noelwhit@gmail.com.

Topics:  investment, noel whittaker, opinion


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Breast-cakes raise awareness at Lockyer morning tea

BREAST CAKES: Lockyer Valley mayor Tanya Milligan and morning tea host Anna McWhinney show off the breast cancer awareness cupcakes.

Ladies grab cupcakes for cancer council

Fourth Laidley fire clearly lit on purpose: Police

The fire on Paroz St, Laidley, captured by Ray Watterson.

Laidley fire treated as suspicious

Three Laidley fires under investigation

BLAZING: Wayne Hawes captures this image of a fire on a hill near Douglas McInnes Dr, Laidley.

Laidley fires under investigation.

Latest deals and offers

Lockyer Valley wildlife carer busy after Laidley fires

BUSHFIRES are bad enough for the human residents of the Lockyer Valley, but Ludo Valenza has also seen the impact on native wildlife.

Breast-cakes raise awareness at Lockyer morning tea

BREAST CAKES: Lockyer Valley mayor Tanya Milligan and morning tea host Anna McWhinney show off the breast cancer awareness cupcakes.

Ladies grab cupcakes for cancer council

Fourth Laidley fire clearly lit on purpose: Police

The fire on Paroz St, Laidley, captured by Ray Watterson.

Laidley fire treated as suspicious

Three Laidley fires under investigation

BLAZING: Wayne Hawes captures this image of a fire on a hill near Douglas McInnes Dr, Laidley.

Laidley fires under investigation.

Having a ball at the Lowood ball

Gary Wormington and dance partner Nola Parsons had a ball dancing together.

All the glitz and glam from the Lowood Show Ball.

Jobseekers give back to Gatton

WOOD WORKS: Peter Logan and Wade Halley made this outdoor setting and Louise Berg and Cheyenne Warfield helped to paint it for the Gatton WFD Trade Show.

WDF Trade Show a success

The best retro movies of the week? May 27 - June 3

Gregory Peck Photo Contributed

This week TV fan get to see Tom Cruise in a 1980s classics

Barnaby Joyce talks Johnny Depp's dogs in Tweed

Deputy Prime Minister Barnaby Joyce talks about Johnny Depp's dogs Pistol and Boo...

Billy Slater talks Origin Team

Queensland Origin great Billy Slater.

Queensland Origin great Billy Slater talks about this years team and his return to...

Road rage caught on Dashcam

Attack with a baseball bat caught on Dashcam

Video of a violent road rage incident in Orange last December.

Own Sunshine Coast property? You’re about to make money

UP AND UP: Property owners are likely to win from rent and price increases but tenants and first home buyers might not be so happy. Photo: Brett Wortman / Sunshine Coast Daily

Good new for property owners, not so good for buyers and tenants.

Sale nears on last large block of land in Coolum

The 43.37ha property on South Coolum Rd has sold.

South Coolum Rd property to be land banked