“Super, yes I will really go for it when I pay off my mortgage”
“I don’t earn that much so I wouldn’t be much of a client”
“Oh have the super rules changed again”?
“We are saving for a holiday and every cent is going to that”
“I’ve just started a new job and let’s wait and see how that pan’s out”
“We will start to add to our super as soon as our daughters dancing lessons finish”
“I don’t really believe in wasting money on life insurance, they should be alright”
“I need to run the plan by my neighbour because his brother knows a bit about that stuff”
“I can’t put any extra into super as I have this huge tax problem” (Really)
“Both my kids will need braces so I will not be able to do any investing for the next 10 years” (A good one and I know exactly how you feel, but it is still just an excuse really)
“The dog ate your business card” (I used that one at school 30 years ago with my homework and it didn’t work then either)
“I just want to wait and see what happens with interest rates”
“I think the property market is about to fall off a cliff” (Many people have a short term view of investing and this will always be the conclusion if you think short term. When deciding to purchase assets you need to replace short term concerns with long term outcomes and this will allow you to avoid being paralysed by the what if-fear factor and the timing game.)
“My strategy is to wait 12 months and review things then” (Wait for what, this is the 5th year running you have wanted to wait 12 months. Do I see a pattern emerging here?)
“I really want to start investing after Xmas, after the holidays, after the 50th, after the cruise, next month, next year, after the baby arrives, after the property market falls, when the share market corrects” (Love it)
“What will my super be worth in 20 years” (Don’t know what will your home be worth in 20 years)
“My current investments are chugging along just fine thanks” (Compared to what? How do ‘they’ invest your super monies and what is your annual review process?)
“I just want to run it by my Accountant of 20 years” (There are many good accountants out there but by the look of things if your Accountant has been responsible for your planning to date he also needs to become a client of ours)
“Everyone knows that property is a sure way to wealth and I will be doing it myself and don’t need any help” (I think that is why only 1 in 12 people have an investment property)
“I don’t have any money to invest”, (Do you have super? Do you have a family? Do you have an income? Do you have a mortgage? Do you have equity in your home? Do you have people you love? Do you pay tax? (As long as a client is genuine and willing to take advice then I think there is plenty to work with here.)
“My mate works in real estate and wants me to set up a SMSF with my $50k balance and buy a property off the plan in Cairns for $500,000. What do you think?” (Well put it this way I am not sure he has your retirement in mind, more his maybe)
“My situation is not that complicated, I don’t need any help”
“My mortgage broker said he can do all that planning stuff for nothing as long as I do the loan with him”
“I think it is all too late, I have missed the boat”(Boats are leaving every hour, on the hour)
“What if the property does not rent straight away”? (Just do your research before you buy and buy in an area you know well or leave your property selection up to a professional who actually has your interests in mind)
“I just don’t like how they keep changing the rules with super.” (Maybe speak to people who have a great retirement lifestyle because they understood the value of super early on)
“It’s not you it’s me” (Are we talking about Investing)?
“If I have a bad accident I will just move back in with mum and dad” (Really does mum and dad know that, I think they have already rented your old room out on Air B&B)?
“I would like to insure my income but I just can’t afford it right now” (Wow. Good One)
My all-time favourite
“It’s a good idea, I know I need it, I know my family will appreciate it, I can afford it, and it just makes sense – but – I’ll get back to you!”
These are just a few but you get the idea. We will keep adding to the excuses board from time to time as good excuses roll in. Its human nature to put things off and from our experience once clients organise their finances they always feel pleased.
Fortunately these days we are able to overcome most excuses once we explain the investment process but they are still fun to hear.
There will always be an excuse to put things off but this is the most risky strategy of all. Good financial decisions are very easy to make once you understand all the facts.
We will show you why.
“Well done is better than well said” – Ben Franklin
ADVICE BETWEEN THE FLAGS
