Tuesday, August 6, 2013

Make Me Rich. Please.

I'm booked in to see a Financial Planner this week. And it's the first time. I don't even know what I really want from him. He's going to ask me to articulate what I want, and all I can really say is, "Make me rich".

I always feel like this before I see a professional for the first time. I put off getting my eyebrows waxed for years because I was scared she would ask me questions about how I wanted them that I wouldn't know how to answer.

I wanted two. Not one.

My first pedicure, hiring someone to add a room to our previous home, even now toying with the idea of buying a franchise or starting my own business - something I think about but do nothing about because I simply have no idea where to start and don't want to seem stupid to the franchisees (franchisers?)

I get so nervous in these situations, that it can be years before I ball up to organise them for the first time. I just really hate being in a situation where I don't know what I'm talking about. Of course, once the first time is over and done with, it just becomes something routine that I can organise or do.

We are in a really good financial position these days. We cleared the last of our personal debt a few months ago, and although we have been doing it tight this year while I have been on maternity leave, we haven't had to touch our modest savings to get us through.

We have no credit card debt, no personal or car loans, just a positively geared mortgage on our investment property. A really good position, and I know it's time we take some serious steps towards trying to build wealth. Otherwise, now that I am back at work part time, it could be very easy to just increase our costs of living and absorb my income into the household expenditures. And I think I would rather keep doing it tight, and instead start to build a financially stable future/retirement for us.

I've prepared a list of our assets and expenditures, copies of all our insurances, asset information, income streams, etc. I don't really know how else to get ready, but it seems like a good place to start.

So that brings me to an appointment with a financial planner. And the end goal being "Make me rich. Please". Or maybe not rich. Really I just want to be able to always pay my bills comfortably, live in my own home, and be able to provide well for my children. And travel sometimes. I don't expect first class, a mansion, or a BMW. But I do want a long term comfortable life where we are well enough off that we can extend our support long term to our children and parents.

I'll share how it goes, because I suspect there are alot of people out there who would never approach a planner because they believe they don't have enough money, or wouldn't know how a planner can help them.

Want to read more about the "Make Me Rich" series? Click here :)


  1. We were talking about seeing a financial advisor. I will see how you go with yours first lol.

  2. What an awesome position to be in ... congratulations! Our biggest and only debt is the home. When the kids finish childcare and start school, we should be able to make more of a dent in that debt. Good luck with your financial planner meeting. Cheers, Alison #IBOT

  3. Well done on clearing your debt and taking the next steps forward. I think more people should see financial advisers but also be very careful with the products they recommend and do shop around for other investments. Building wealth and long term security is really important especially as we all live for so much longer these days.

  4. Good luck and I hope you're happy with your advisor. A lot of them don't really seem to listen to you and just tell you to buy insurance. But if you get a good one, they should be able to give you options and refer you to experts to help you go in the direction that you work out together will suit you best. Best of luck with it!

  5. Having no personal debt is a great place to be - well done !!!
    I don't think I could live with personal loans and car loans - it would drive me nuts. Financially we are also in a good place but I do think I should do more to save money and make the money that we have got work for us. Thanks for the reminder that I needed to do something about this.
    Have the best day !

  6. Oh good luck! I haven't even made an appointment to see the accountant yet for end of year, let alone thought about a financial planner! Josefa from #teamIBOT

  7. I have seen two financial advisors so far in my lifetime. Can't say they were super helpful. I learnt to question everything, after all they are selling a product. They need to make their pennies some where. I found my bank and accountant to much more helpful. The best thing I ever did financially for my family was to read Money Made Simple and make my children read it before they left home.

  8. I just need to learn how to spend less money of stuff we don't need, eg not going to buy groceries when I don't need to! But all the best and I hope you get some FAB advice I can steal off you :)

  9. Good luck with it. I'm not sure what our financial goals are, apart from paying off our car loan and school fees.


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