Sunday was the final day of the season for my 10 year old son Felix’s soccer team. They finished the season with a 3 all draw after being down 3 goals in the opening minutes of the match.
Despite not winning, the draw showcased the teams improvement over the season. The boys had improved dramatically during the year, not only in their individual skill level, but also from the way they play together as a team. The key to their improvement had been the coaching they received during the year. The team’s coaches worked tirelessly with the boys to establish their own unique game plan.
The team game plan was tailored to the strengths and weaknesses of the individual member’s of the team.The team had a mixture of highly skilled boys who have been playing for several years, and boys in their first or second year of playing. Any lack of experience was compensated by working together as a team and bringing the best out in each other. The coaches frequently adjusted the game plan depending on the opposition and how the game was unfolding. northbeachsoccer
This same message from the success of Felix’s soccer team can be applied to you achieving your financial goals. Some of the benefits of having your own game plan and a coach are as follows:

1. Noise
Newspapers are sold by bad news stories and are filled with reports of doom and gloom and impending disasters. If you paid attention to every negative article that was published, you would think that the world was about end. Whilst there are many uncertainties, the probability of these playing out needs to calculated and financial decisions made accordingly.

2. Retirement shortfall
As you get closer to retirement, you may suddenly realise that you have not paid enough attention to how you are going to fund your retirement and be tempted into making a hasty decision. With a game plan and a coach you can plan ahead for your retirement and avoid compounding your mistakes.

3. Past experiences
Often poor decisions are made based on our own past experiences or for purely emotional reasons. Having a good financial coach, with the benefit of many years of experience, can help you understand the reasons your past decisions may not have worked out and steer you in the right direction.

4. Financial products
We are often bombarded with an endless stream of enticements from friends, colleagues and social media recommending get rich quick schemes such as setting up your own self managed superannuation fund or investing in the latest financial product such as Exchange Traded Funds (ETF’s). Whilst some these financial products may have merit, they may not be relevant for your circumstances and experience and not suitable to you achieving your goals.

5. Conflict of interest
There is an increasing range of people making recommendations or suggestions on how to achieve your financial goals such as accountants, mortgage brokers, real estate agents and representatives from financial institutions with limited training and qualifications. Some of these financial advisers may also have conflict of interests and their remuneration and the profitability of the businesses they work for is often linked to the products they are recommending. A good financial coach with strong academic qualifications and experience will make you aware of these conflicts and will only make recommendations that are appropriate for you.

6. Risk awareness
A good game plan will balance out the risks you are taking for the return needed to achieve your financial objectives. A financial coach with years of experience is able to help you establish your financial goals and develop a game plan to achieve them without taking on unnecessary risk and permanent loss of capital. Sometimes the game plan will involve an element of risk however a financial coach has the knowledge and experience to balance the risk and rewards for you.

7. Investment strategy
There are many ways of investing that can lead you to achieving your financial goals. These strategies include direct shares, managed funds, active investment strategies, momentum strategies, value strategies, growth strategies, SMA’s, MDA’s, cyclical investing, charting, index investing, margin loans and the list goes on. The right investment strategy for you should be based on your circumstances, beliefs and what you are comfortable with. A good financial coach will work out what is the best investment strategy for you, adjust it to your changing circumstances and hold you accountable to it.
You need to establish your own unique game plan that matches your own strengths, weaknesses and lifestyle. You then need to have someone you trust to train you to stick to your game plan and to make adjustments along the way as circumstances change.
If you would like to arrange a meeting to review or establish your own game plan, please contact us on 0499976058.

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Disclaimers & Disclosures

Geoff Ivanac is a Sub-Authorised Representative (No. 000309751) of Barsden Private Wealth Pty Ltd ATF The BPW Trust (ABN 41 153 930 799) trading as Barsden Private Wealth. Barsden Private Wealth is a Corporate Authorised Representative No.416315 of BPW Licensee Services Pty Ltd (AFSL 484 198).

The information provided on this website has been provided as general advice only. We have not taken into account any particular person's objectives, financial situation or needs. You should, before acting on this information, consider the appropriateness of this information having regard to your personal objectives, financial situation or needs. We recommend you obtain financial advice specific to your situation before making any financial investment or insurance decision.

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Geoff Ivanac is a Sub-Authorised Representative (No. 000309751) of Barsden Private Wealth Pty Ltd ATF The BPW Trust (ABN 41 153 930 799) trading as Barsden Private Wealth.

Barsden Private Wealth is a Corporate Authorised Representative No.416315 of BPW Licensee Services Pty Ltd (AFSL 484 198).