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.

McDonald wins tough decision for LNP pre-selection

IN: Jim McDonald won the pre-selection to run for the LNP in the seat of Lockyer at the next state election. Pictured is Jim McDonald and current Lockyer MP Ian Rickuss who will retire at the next state election.

Jim McDonald won the LNP pre-selection for the seat of Lockyer

Lockyer Valley Speedway roars into gear

WINNER: Hatton Vale's Steve Isdale took out the legends race at the Lockyer Valley Speedway on Saturday, February 11.

First Lockyer Valley Speedway was off and racing.

Gatton dancer will take the spotlight at Empire Theatre

STAR: Gatton dancer Baylee Thrupp has been cast as the lead in an upcoming production of Snow White.

Baylee Thrupp will star as Snow White in an upcoming production.

Local Partners

Support groups urge veterans to seek help

Veteran support groups in the region are urging veterans to seek help in the wake of the Senate Inquiry into suicide by ex-service personnel.

REVIEW: Under the Gun doco looks at right to bear arms

ARMED: A still from the 2016 documentary film Under the Gun by Stephanie Soechtig.

An in-depth look into America's gun culture.

Messing with your head

MIND BLOWN: What could be weirder than the realisation that we have another completely separate brain and nervous system than the one originating in our heads?

Fascinating connection between your gut and your brain

Sir Elton John coming to Mackay: What you need to know

Sir Elton will come to Mackay and Cairns in September.

Tickets to the concert go on sale on March 14

REVIEW: Under the Gun doco looks at right to bear arms

WOULD you ever carry your baby and a semi-automatic gun to the shops?

Hodges proud to be part of first channel dedicated to NRL

Justin Hodges is gearing up for his new gig on Fox League.

Footy star hopes to provide a voice for players on new NRL channel

Furious Price wants to quit I'm a Celeb after clash with Keira

Steve Price has threatened to quit the jungle.

Will camp ration clash with Keira cause Steve to call it quits?

Novel with lots of heart

The romance in A Quiet Kind of Thunder was only one of the joys of the book.

Book proves to be a gem with layers

Bliss N Eso announce tribute show for stuntman

Bliss N Eso will play a tribute show at Coolangatta in honour of Johann Ofner. The stuntman died during the filming of the group's Friend Like You film clip earlier this year.

BLISS N Eso to play tribute show to raise funds for killed stuntman

MOVIE REVIEW: Trainspotting sequel as good as original

Ewen Bremner in a scene from the movie T2: Trainspotting.

Director Danny Boyle proves sequels can be done well.

How Karl Stefanovic's wife, kids found out about girlfriend

Karl Stefanovic and Jasmine Yarbrough after their day on Sydney Harbour. Picture: Jonathan Ng

Pictures splashed across tabloid were shock to family

$140k damage: landlord says property trashed, contaminated

He had what he calls "the tenants from hell"

Submarine, buses and 3000 tyres removed in $100K clean up

The list of things removed from this property is beyond astonishing

Popular island resort sells to loaded international investor

OUR PICK: Chris Foey's colourful shot of one of Gladstone's great tourism hot spots, Heron Island.

International investor snaps up piece of Gladstone paradise.

Expert: Why renters, home buyers may struggle

Matusik Property Insights director Michael Matusik.

What's next for the city's housing market

Ready to SELL your property?

Post Your Ad Here!