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Words of Wisdom from the Godfather May 1, 2013

Posted by Meike Suggars in Investments.
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Many consider Warren Buffett to be the Godfather of the world of investing. He has long been known for his success and his willingness to share ideas and thoughts on how to get the most from your investment portfolio.

We found this collection of quotes from Buffett which we just had to share!

Our favourites are #16 and the bonus #24.

Enjoy!

image by Art Comments

image by Art Comments

Of course, working with a financial adviser is the best way to achieve your financial goals so call us and we’ll explain what we can do for you.

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Getting advice might mean you have to change… September 27, 2011

Posted by Meike Suggars in General, Investments, Personal Insurance.
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Apparently its human instinct to resist change, and many of us do so by defending the status quo, as Seth Godin discusses here

Often, we don’t like seeking advice because we know we’re going to be told to do something different. So instead we:

  • Consider the cost of switching before considering the benefits? “I can’t afford it right now” As well as the peace of mind offered by a quality Personal Protection Plan, added benefits such as tax deductibility and loyalty bonuses are often overlooked.
  • Highlight the pain to a few instead of the benefits for the many? A few dollars out of your pocket can protect your partner, your kids, and even your parents (I’m often told “my parents will look after me”)
  • Exaggerate how good things are now in order to reduce your fear of change? “I don’t need it – I’m young and healthy” Do you think the Victorian marathon runner that got caught in the WA bushfire had that on her list of “things that might happen to me”?!
  • Undercut the credibility, authority or experience of people behind the change? Insurance advisers are one of the least trusted professions, down there on the list with car salesmen!
  • Grab onto the rare thing that could go wrong instead of amplifying the likely thing that will go right? How often have I been told “Insurance companies always get out of paying”? when in actual fact last year a total of $3.5billion was paid to Australians by life insurance companies
  • Fight to retain benefits and status earned only through tenure and longevity? “But I’ve had this policy in place for 15 years” in which case, it’s probably out of date and there might be something better on the market.
  • Slow implementation and decision making down instead of speeding it up? “I need to talk to my wife and think about it” If you went home and said “Darling, I’ve arranged for you to receive $2million if I die prematurely so you can afford to stay in the house and keep the kids at school”, what do you think she’ll say? NO??!

Are you one of the many that has been thinking about looking into personal protection but have been defending the status quo and coming up with reasons to put it off or not bother? Well, the best way to go about it is to talk to a professional adviser.

Sure, you can find information online, but are you really comparing apples with apples? An adviser will know all the tricks of the trade to get you the right cover and the best price, and make the whole process hassle free.

 To find a local adviser, visit the Association of Financial Advisers website or contact Suggars & Associates for a confidential chat about your circumstances.