Top pieces of financial advice we give our friends and family

As financial advisers, our clients turn to us for help with many aspects of their finances. But have you ever wondered what financial advisers tell family and friends to do with their money? Here are the top things we advise those who are close to us.

Commit yourself

This applies to many things in life – jobs, relationships, saving and investing. If you can’t commit to something, you’ll never get anywhere. Saving for a house? Bust a gut and try earning more, while cutting back and spending less.  Want your cake and eat it too?  Go for it, just accept the fact that you won’t go anywhere.

Don’t conform

Typically in life we’re led to getting an education, landing a job, buying a house, having kids and retiring by 65.  While this is fine for some, it doesn’t work for everyone. How about starting your own business rather than buying a home?  What about having five investment properties paying themselves off while you’re renting with a water view at a bargain cost?  There is more than one way to get ahead and succeed, so don’t feel the need to conform. Get financial advice to help you reach personal lifestyle aspirations.

Stop looking for shortcuts

Want to make $1 million this year with only $20 down? Buy a lottery ticket. Making money doesn’t come easy, but it is easy to do if you’re patient. Stop buying hot tip stocks and speculating, it’s no better than the casino.  Get some blue chips, or buy property and build your capital slowly...Read more