Have you just received your latest power or internet bill and been given a huge shock? If so, you’re in the same predicament as many other New Zealanders. Price increases have been aggravated by unusually wintry weather causing power bills to skyrocket. And, if your income is heading in the opposite direction because of a redundancy or downswing in business income, your household budget could be in the red rather than the black.

Now is the time to look closely at your monthly outgoings and see how they are changing, and to examine their relationship to your income. You may be unaware that your discretionary spending is too high and needs to be cut back if you are to stay within your budget. It may be time to look at where cuts can be made because you especially don’t want to reduce your savings and/or your KiwiSaver or retirement contributions. That’s simply robbing Peter to pay Paul, and will decrease your net worth in the longer term.

We don’t like to see our clients struggling so, as your financial adviser, we are more than happy to help. Sometimes a third party can identify areas of potential saving you might not otherwise have thought of. If we can’t help you ourselves, we will find someone who can.

Inexplicably, time seems to move faster as we get older. That means every day you put off planning the funding of your retirement is another day wasted. You could end up retired (planned or unexpectedly) with insufficient funds to retain your current standard of living.

A new government study shows that only 10% of those over 50 are certain they have enough money saved or invested to enjoy the lifestyle they want when they stop working.

Of those already retired, a quarter say they don’t have the money to do the things they want in their retirement. The study also found almost half of people over 50 are yet to figure out how they’ll reach their retirement goals. Among those approaching retirement, 54% say they have some form of financial plan. However, the degree of planning is varied, with only about a quarter having planned thoroughly.

Forty-two percent of non-retirees have calculated the regular expenses they would need to cover, and 34% have worked out how much they would need on top of NZ Superannuation to give them the lifestyle they want. As a financial advisor, it’s encouraging to see some of those approaching retirement doing some planning, but many are leaving their plans to the last minute.

If you don’t wish to be spend your retirement in straightened financial circumstances, call me today to arrange for a chat.

Now that we can all buy anything we want on the internet at any time you’d be excused for thinking that buying insurance online is a cinch. But while many companies offer insurance online, how do you know you’re buying what you really need?

Most of us love a bargain and our buying decisions are regularly based on price. But we all know that you get what you pay for. And because of the complexities of insurance policies, you may not be getting what you think you’re paying for.

Policies differ widely with what they include, even within the same company. So it takes someone with knowledge and experience, and who understands your needs and situation, to advise you on the best policy that suits your needs. Without this knowledge and experience, you could well end up with a policy that doesn’t in fact cover you for the loss you experience.

A second reason to use an Adviser is when it comes to making a claim. We Advisers go in to bat on your behalf to the insurance company to discuss the merits of your claim. And because of our knowledge and experience we have high levels of success.

So, next time you’re tempted to go online and purchase your insurance on the internet, pick up the phone and talk to me instead. You can be sure of advice that is unbiased, professional and in your best interests.