One of the biggest mistakes you can make when it comes to money is not getting started. Procrastination can negatively impact your long-term wealth. If you are someone who tends to put financial matters to the side, you are not alone. Getting on top of things such as insurances, tax planning and investments will ultimately provide peace of mind and set us up for a more secure future. Here we discuss common roadblocks and provide tips for overcoming reluctance to tackle financial tasks.
Common reasons for financial procrastination
• Difficulty imagining what life will look like in 20 or 30-years’ time
• Reluctance to think about your mortality
• Perfectionism and fear of risk such as investing
• Feeling intimidated by financial decisions due to lack of knowledge
Don’t delay these important financial decisions. Financial planning is about ensuring you have the right plans in place to:
• Secure your financial future by getting your super and investments sorted
• Protect yourself and your loved ones against unforeseen events
• Enjoy a comfortable retirement
The most compelling reason to start today
If you want to earn money while you sleep, consider the value of compound interest. When you invest you earn compound interest. This means, not only will you earn money on the principal amount in your account, but you will also earn interest on the accrued interest you've already earned. For example, if you invest $5000 for 10 years at 10% compounded annually your nest egg would grow to $12,968.71.
Every day or year that you put off investing in your financial future will have an impact on your long-term wealth.
Get advice
In 2025, don’t wait to get your finances sorted. When you meet with us, we will consider your unique circumstances and use cashflow forecasting, financial illustrations, and detailed discussions to ensure you are making informed choices. We provide judgement free space to discuss your goals and objectives and will work with you to develop strategies to secure your financial future.
General Advice Warning: The information provided in this article is general in nature and does not consider your particular investment objectives, financial situation, or insurance needs; we therefore recommend you seek advice tailored to your individual circumstances before making any specific decisions.
Dobbrick Financial Services (Gympie) Pty Ltd ABN 48 931 205 109 & DFS Oakland ABN 64 340 527 395 and their advisers are authorised representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. DFS (Ipswich) Pty Ltd ABN 86 100 184 521 and their advisers are authorised representatives of Fortnum Private Wealth LTD ABN 54139889535 AFSL 357306.