There’s so much emphasis these days on being physically fit, which is fabulous, but what about other types of fitness!
For women, at any and all stages of our lives, it’s really important to be fiscally fit. We need to be making provisions for our future, building nest eggs, investing, and being engaged with our Super.
Otherwise, it’s likely that you’ll end up fiscally f***ed – and we don’t want that.
It doesn’t take much to get started – just like your physical fitness, the biggest hurdle is usually starting. Making that decision that you’re going to things differently and then deciding how you’ll do it.
Just like you’d start out with a personal trainer to learn the right and wrong ways of doing things in the gym, recruiting a wealth adviser or financial planner, reading or doing courses is a great starting point for improving your fiscal fitness.
Just like in the gym, you need to take stock of where you are now. What’s your debt? How’s your cashflow? Is more going out than coming in? Are you better at paying off than saving? What would happen if you reduced your spending by 20%? What if you had a great savings plan? Could you buy an investment property? Could you invest in shares? How much are you paying in fees – to the bank and Super fund? How many Super funds do you have?
There’s a whole lot of questions to ask, but we can break it down and keep it simple and manageable until you get into the swing of things.
What provisions are you making for the future? How will your finances pan out if you never marry? Or if your partner dies? Or if you get divorced? What will happen to your Super if you take time out of the workforce to have kids?
Marriage, inheritance and lottery wins are not financial plans.
Putting your head in the sand and hoping for the best is a pretty sure fire way to end up in trouble – living below the poverty line and even homeless once you are no longer earning money.
Current figures show that to retire “comfortably”, the average single person will need at least $590,000, with couples needing at least $615,000. But wouldn’t it be fabulous if we could really kick our heels up in retirement!
It’s time to get off the couch and into the finance gym and I can help you – through my book, online learning or face to face.
Just do something. And the sooner you start, the sooner you will reap the rewards.
No one wants to be fiscally f***ed.
