The average age of an Aussie farmer is 59. They’re sitting atop a wall of assets. Young farmers can’t get in because old farmers can’t get out.
Despite running successful farming enterprises and having multiple generations involved, what I find when talking to farming families is that there are some common problems, no matter where they live or what kind of rural enterprise they run.
The common problems are:
- They don’t have a plan to transfer assets to the next generation and they’re afraid it will blow up the family;
- They don’t know where to get good advice and they don’t know what good advice looks like; and
- Investment risk is shrouded in mystery and so they would rather put off their dreams of retirement than take that risk.
Good seasons come and go. It’s during the bad seasons when holding on to what you’ve accumulated is key, but this requires focus and attention; resources are in short supply when there’s work to be done. And so it goes that the plans aren’t made and you’re left hoping for the next good season to come along so you can retire.
It can seem overwhelming when these problems collide and it’s easy to lose focus and push the problem aside, so another year goes by when nothing is done. I spend a fair bit of time getting to know what makes you tick , what you hold dear and what your aspirations are and then side by side with you develop a plan which I help you stick to.
WHAT I DO:
I’ve developed a 6 step plan, which implemented over the first 12 months takes you from that place of anxiety and indecision and gives you a roadmap for the future.
It starts with an in depth understanding of your family’s values, which underpin all your decision-making.
Then, we get laser like focus on the timing and costs of achieving your dreams.
My Risk Targeting approach to investment allows me to calculate exactly how much risk is needed in your portfolio. Using this very different method of portfolio construction, I create a financial strategy which gives you the best chance of achieving your desired outcomes with exactly the right amount of risk you need.
My tough love approach ensures my clients get stuff done and stay on track, and then at the beginning of every year we measure our results, and do it all again!
I work with families with who want a relationship with an adviser they can partner with long term, to best achieve the financial outcomes they want