I had $217 to my name before I stood up on the blocks to dive in. Here I was, vying to make an Olympic team with hardly a cent to my name in 2000. I didn’t understand tax, GST or what super was and above all, was too timid to even ask anyone about a financial planner. Why would I? I had no real money, no shares, income and was too embarrassed to speak up at 17 years of age.
This is still a tough and tender point for many older women and it really shouldn’t be. The best time to see a financial planner is when you have no money to actually establish your wealth desires, what you want, if you’re a risk taker or where to even start. I made so many mistakes, learnt so much and lost a lot. Then I met my husband Thomas and together we sat down and made a plan.
I don’t live with regrets but if i could do it again I’d be saying to young women now “Learn about your wealth” however big or however small, understand and embrace it. For married women, don’t just rely on your husband; know you bank accounts, know all your assets, your investments, and that your finances are up to date.
Plan a time once a quarter with your partner, or best friend, your parent or an advisor and map where you are and how you’re going to get to where you want to go. Be across it all. We are smart, savvy women with intelligence. Be above it all. As super is about to change and increase I’d advise you all to jump onto http://www.superguru.com.au/about/asfa a super simple website that can help you get on track.
Last week a normal twenty five minute routine run Thomas normally does turned into 2 hours. He had stopped by two mates houses to say hello, here I was pacing up and down wondering when I could file a missing person report thinking somewhere on a cold pitch black Sydney street someone had done something to him. Whilst in my whirlwind, over-reacting state I thought about our finances and even though he had showed me all our finances the week before , I started worrying over how I would begin the process. This led me to writing this blog.
Men and women, young boys and ambitious beautiful adolescent ladies, learn about your wealth, value it. Know where it all lies. Its your responsibilty.