Life as a chessboard
I wish life was more like a draught board but unfortunately it is just more complicated than that. We all make decisions and usually it’s only time that can prove which decision was right or wrong. My oldest brother once told me what he hated about my personality is that I know what I want, and how to get it. I realised he was not really talking about me but he was actually saying something about his life which brought him endless frustration.
After studying life and people for almost seven decades, I find that many and maybe most people need help to move their life along. They need some explanation about the chessboard of life and what their perspective should be. Someone once said to me “use it or lose it”. A phrase that applies very much to everyone’s individual super asset as it is apparent that many major bodies have an axe to grind against your super asset.
Super is made to appear complicated but it is indeed the simplest of wealth creation strategies.
As a superannuation consultant and adviser, I am responsible for providing financial wisdom to my client base in helping them to understand what they should want and how they can gain from their activity which might optimize their super asset.
Life is a very busy and complicated game and, quite simply, time does fly. Too many people start paying attention to their super too late in life with the cost of such inactivity being rather expensive.
So what to do?
There are decisions to be made as soon as you think that you should do something about your super. The first easy decision to be made is to have a discussion with someone who understands super better that you do. In essence, make an appointment with your adviser.
The AXIS adviser will explain the consequences of what you are doing now and the range of decisions that you could make to have your super perform much better. There are not too many decisions to be made but all of them require a level of technical knowledge normally beyond most people’s capability:
o The first is the choice of product and its functionality
o The second is the cost structure of that product relative to other options
o Then you should consider your contribution strategy
o Finally you have to establish your investment strategy and then understand how markets work
In considering all of the above, you need to know where you want to be at the point of retirement but you also need to understand how you can monitor progress in the short term against your long term goal.
The above is a simple framework around a set of decisions needing dependable technical expertise but it is set up in such a way that you have your own insight into the results.
In short, the AXIS advisory process takes one of the boxes involved with the chessboard of life and reduces the moves to simplicity such that the risk of failure is very much reduced.