Whether you are just starting out, or you are well into your financial journey, receiving good financial advice is priceless.
Financial advice allows you to define your goals and create a path to achieve these goals. You have ongoing support, and it empowers you to take control of your financial future.
We know, sometimes after a long day at work or a busy day with the kids, discussing your finances, insurances or investments may feel more like a chore, than a necessity. However, a new report out has proven people who take financial advice are better off than those who don’t.
People who seek out and receive professional advice exhibit good financial behaviours more often than unadvised people. Advised Kiwis, regardless of income level, are more prepared for retirement, feel better about their financial position and are more comfortable making big financial decisions.
Key points from the study show the difference in financial competency and confidence between advised individuals and non-advised individuals are highlighted in the following:
- Advised individuals are more likely to have investments other than property (61% vs 35%) which indicates they have a wider diversification of investment assets.
- Advised individuals have a better understanding of how much money they will need in retirement (62% vs 40%)
- Almost twice as many advised individuals have Life Insurance (59% vs 32%) meaning they understand the value and importance of protecting themselves and their loved ones.
- 86% of Advised individuals have reviewed their mortgage in the last year with 90% of these individuals believed those changes will save them money in the long term.
In summary the report concludes “Across the board, quality financial advice has given individuals and families the tools to think about their finances in a pro-active way, given them more financial confidence and control, and has had a significant effect on their sense of financial wellbeing.”
So, if you want to begin your financial journey with confidence or take the next step to achieve your financial goals, talk to one of our skilled and friendly Financial Advisers today, you will be better off with our helping hand.
Source: Advice pays – Good Returns