I had the privilege of attending the Australian AMP Advisers Association Conference in Port Douglas in September. The issues faced by Australians are running parallel to New Zealand in regards to changing legislation, advisers up-skilling and keeping the customer as front of mind. In NZ this is being played out in a similar vein - there is focus on replacement life insurances where advisers are moving your insurance on a regular basis which could potentially leave customers exposed and at risk of not having a claim paid through non disclosure. We continually have our customers surprised at what they need to tell the insurer and so I am going to make a video to help. Watch out for this over the next few weeks.
Our youngest son left school last week and embarked on his first independent steps - first job, first time living away from home, first real wage, first taste of financial freedom and what it has to offer. I got to thinking about what is in store for him moving forward, not just in the immediate future but looking further out than that. We had some serious discussions around Kiwisaver, contents insurance, retirement savings as well as savings for the other biggies in life like that newer vehicle he may need soon, life insurance and the trip to Canada in 18 months time. We are lucky in that this information is at our fingertips to offer our own children - but there are many young adults out there who aren't automatically exposed to this information - and need to be.
I am passionate about educating our young people to become more financially aware, achieving their life goals and to help to take the stress out of the early years as a young adult. Even better as a parent, if it is your young adult it means that you can be involved as well!
I would love to hear from you here to set up a time to discuss these important issues with you and your young adult. I would welcome your feedback on the idea of running a small group seminar where you can bring your young adult children and we cover off some of the above areas.
Enjoy spring, roll on summer and make the most of your friends and family.