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.

Primary students experiment in lab

LAB RATS: Minden student Bella Morton and Walloon student Coen Russell enjoying the Faith Lutheran College science day.

Faith Lutheran College hosts its inaugural science day.

Peace Playgroup celebrates decade

YUMMY SCRUMMY: Peace Playgroup children blow out the candles for the 10th birthday celebrations.

Peace Playgroup has proudly celebrated a special milestone.

Faith college fair full of fun

Year 7 FLC students Jayden, Kalani and Clarissa.

Fairly good turn out at Faith

Latest deals and offers

Primary students experiment in lab

Students from across the region donned white lab coats and protective glasses for a fun-filled day of science.

Peace Playgroup celebrates decade

YUMMY SCRUMMY: Peace Playgroup children blow out the candles for the 10th birthday celebrations.

Peace Playgroup has proudly celebrated a special milestone.

Faith college fair full of fun

Year 7 FLC students Jayden, Kalani and Clarissa.

Fairly good turn out at Faith

Big crowd visits Gatton's over-50s expo

Dale Ann Dowden, 70, of Gatton enjoying the over 50s Lifestyle Expo.

Seniors learn about Valley's services

Leading the way on multiculturalism

HONOUR: Regina Samykau-Vuthapanich collects her award for Services and Communities individual of the year during the 2016 Queensland Multicultural Awards.

Lockyer Valley local wins at the Queensland Multicultural Awards.

Horse archery challenge grows in popularity

BULLSEYE: Tania Ross  competes in the   Outback Equines Spring Horse Archery Tournament.

Horse Archery becoming more popular.

Patti Smith confirmed for Bluesfest 2017

CONFIRMED: US singer Patti Smith performing in Switzerland last year.

Find out who else in the first line up announcement

Kirk Douglas is defiant, fierce and still standing

VETERAN ACTOR: Kirk Douglas has had a long and varied career.

Kirk Douglas has out-lived almost all his contemporaries

The Hard Word reviews Kyzer Soze

Kyzer Soze are playing Brisbane tomorrow at the Crowbar in Fortitude Valley. Photo Contributed

Kyzer Soze summon the evil for this mighty slab of death metal

Britney Spears 'almost drowned' in Hawaii

Britney Spears has revealed she 'almost drowned' while on holiday

Doco reveals real story behind Black Hawk Down

Former Black Hawk pilot Mike Durant shares his story, which helped to inspire the movie Black Hawk Down, in the TV series No Man Left Behind.

FORMER pilot recounts ordeal which inspired a Hollywood movie.

What's on the big screen this week

Toby Kebbell and Jack Huston in a scene from the movie Ben-Hur.

AN OLD classic returns to the big screen with a new young star.

Bachelor Richie gives bacon-loving Noni the boot

Noni Janur features on this season of The Bachelor.

TOOWOOMBA swimwear designer still single but focusing on her career.

ISLAND FOR SALE: Cheap Fraser Coast island drops price again

Suna Island in the Great Sandy Strait will be auctioned by Ray White Hervey Bay on Saturday morning.

This is the cheapest island you will find for sale in Australia

How a family home can fit on a 250sq m block

This is what you can build on 250m2.

Here's the floor plan of a home built on 250sq m

$100m plan for Curtis Island 'world class' luxury resort

$100 million resort: Top views at Turtle Street at Curtis Island.

"At the moment we think it meets all the town planning approvals.”

Coast building approvals at seven-year high: report

The the 2015/16 Development Indicators Annual Highlights Report documents local development activity that took place during the last financial year.

New report shows increasing development on the Sunshine Coast

Top honours for Mackay and Whitsunday builders

The Kerrisdale Gardens property from Paynter Dixon Queensland which won them Project of the Year.

Mackay and Whitsunday builders awarded top honours last night.

Investors eye Gladstone's $4m island with resort approval

UP FOR SALE: Turtle Island is on the market.

CHINESE and Sydney investors flag interest in Gladstone island.