Sunday, September 22, 2013

Make Me Rich Please: Part 3 Statement of Advice

We met up with our financial planner this week to receive the Statement of Advise he has prepared for us. It's huge. Seriously huge. But a massive chunk of it seems to be disclaimers and waffle talk so I will ignore a bunch of it for the purposes of this post.

I was expecting a session to go over the SOA only, and then be given the information to go away and act on myself. I knew I would need to employ a certain amount of discipline as well to ensure that I actually did anything I decided on. Sometimes I can be the worlds worst procrastinator when it comes to this stuff, so I had a feeling I was going to end up with a todo list and a bunch of blank forms I wouldn't be bothered filling out.

So you can imagine how thrilled I was to find that my planner had all the forms handy already, filled in with our details, so that anything we were sold on we could sign for immediately and he would take care of. Anything we wanted to think about we could take away with us.

My SOA dealt with the following:

Debt Management
Estate Planning

In some cases we have taken his advice in full, in others we are taking part of the advice, and in one or two instances we have decided it is not suitable for us, at this time. We may reconsider down the track.

Some things we will definitely be doing, but they will have to wait until January, when I return to work full time. Right now I am part time, and we don't have lots of disposable income. There are a few things we can take care of straight away though. I will be sharing a break down of some of our actions and changes over my next few posts, as I get my head fully around everything. I can say we were very happy with the quality of information given the us, and the suggestions made. Everything seemed valid to our circumstances, and our planner was upfront about whether he would receive a commission on anything.

Have you ever thought of seeing a financial planner? I promise it's not nearly as intimidating as I thought it would be!

Following the "Make Me Rich" series? Read more here.

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