You may have seen the pics (above to refresh your memory) of four strapping gents perched in front of a Hindsight Wealth stall at this years Parenting and Baby Expo in Brisbane. You were probably also wondering what we were doing there in the first place?! We had a great 3 days with the 18,000 attendees talking about what needs to happen to secure a young family’s financial position.
We have been overwhelmed with the response from parents, expecting and existing, post the expo who are taking a proactive approach to getting their money under control. We have been able to help many young families who have reached out to us since the expo and we thought we would share some of the hot topics our conversations have been centred around:
Insurance: Starting or growing a family is a catalyst for parents to review their personal insurance plans. With Dad becoming the main income earner, making sure the right income protection is in place has been a big talking point. Second to this, we have been helping mum’s and dad’s understand how much life insurance they need to protect their financial position.
Superannuation: This is an area that most of the parents we have spoken with have not taken into consideration. There are two important factors here. 1. With mum out of the workforce for a pro-longed period of time, her super fund needs to be structured to ensure it continues to grow even without contributions. 2. Dad’s super needs to be working harder to accumulate more and make mobile casino up for the lacking growth in mum’s fund while she is away from work. On top of this, getting it all in the one fund has been a hot topic as well.
Cashflow: There have been a few chats with concerned parents who have been confronted with the harsh reality that their household income is halving and household expenses are increasing. Managing the household cashflow is paramount when raising a family and it has been refreshing to see a lot families take on board the simple strategies we shared with them.
It has been a pleasure to be able to give families the peace of mind that they are financially protected and in the best position to raise their little ones. If you would like any help with the above mentioned areas, give our office a call on 07 3852 3025 or email us at firstname.lastname@example.org