Is it about time you had a check up?

You’ve heard of a check up, right? The type of check up you go and see your GP for on a regular basis, just to make sure you’re on track for a long and happy life. We’ve been sold on the idea for decades and we’re still told about the various tests we should have done when we reach this age or that. It makes sense to be pro-active. The earlier you act, the more likely you are to avoid the nasties.

Have you ever run a scan on your computer?

Just to make sure it’s free of bugs, worms and scammers whose uncle died and left them 14 tonnes of gold they’d like to store in your garage… Of course you have. Again, it’s become a habit even to the extent that we set it to happen in the background automatically.

What about your wealth creation plan; who is reminding you to keep that in good shape and when was the last time you really put it to the test?

If you’re like most people, I suspect you might be quietly questioning whether you in fact have a wealth creation plan – other than work hard and save. If you actually do have a plan, is it current, does it reflect changes in your circumstances, has it been adjusted for changes in legislation, is it being implemented consistently and is it actually working? In other words, are you on track for the life of your dreams where you spend your days ticking things off your bucket list – or are you headed for that long, slow agony of retirement on the pension?

If you think your plan might need an overhaul, don’t worry; it can be a painless process. Getting a clear understanding of your current position (I know you know, but some people just “don’t know were all the money goes..”), defining your goals, then developing and implementing a strategy to get you there. That’s what a wealth creation health check should do. As the saying goes, your bank balance will thank you later.

Take advantage of the opportunities that are out there right now. Make the most of government grants, tax saving structures, stamp duty concessions or whatever else may be relevant for you. Review your current arrangements for additional leverage and potential savings – lower rates, better products, lower risk, bigger benefits.

The key of course, is getting started. Just like the doctors appointment, this is an easy thing to put off until next year, or when you get the new job, or when the kids finish school, or when you turn 50 or 60 or… So here’s an important question to ask yourself: “if I stick to my current plan and keep doing what I’m currently doing, will I achieve my goals?” If the answer is no, you know what to do. Make that appointment. Get that check up!


Words by John Di Natale, Director of Equi Wealth
Licensed Real Estate Agent, Financial Planner