11th Oct,2018
Article By
ClearWay Advice and Financial Planning

What seeing a financial planner meant for my family

What seeing a financial planner meant to my family

“Before starting a family, I was very naïve about receiving financial advice or seeing a financial planner. To me, it was just someone telling me how to spend my money, or more to the point how NOT to spend my hard-earned money.

When I purchased my house in 2012 I was asked the question of “what will happen to your house if you were to die?” My answer was “my husband would keep paying it.” I never stopped to think about how financially hard it would be for someone on a single wage to continue making the repayments as well as living the same lifestyle we did as a couple.

When my son came along in 2015 I was asked the question of “what would happen to your son and husband if you were to die? Or what would happen to you and your son if your husband were to die?” Again, I straight away thought my husband or I would continue as we had been.

After the latter question was asked and after I had time to think about it, I made an appointment with an adviser and we started talking. I never thought about my superannuation and what it means to me, my family or our future, I never thought about life as a single mum on a single income or how my husband or I would cope if one of us were to become incapacitated from work or worse.

During this conversation with the adviser, it dawned on me that I really had no idea about my future or what could and would happen in different situations. I never thought a Financial Adviser would help me with my superannuation, with insurances, with retirement and planning. How wrong was I?

My adviser got me to go away and think about these questions:
• How would my son and I survive if something were to happen to my husband? Or how would my son and husband survive if something happened to me?
• How would our family survive if something happened to either my husband and I we could no longer work?
• What does our retirement look like? And how are we going to pay for this?
• What does our son’s future look like?

I can now say I have the insurance cover in place should it be needed, we are working towards a retirement plan and what our future holds.

If you can relate to my story in any way then you need to sit down and have a chat to a Financial Adviser about yourself, your family, your future. I promise it will be worth it.”

If you’d like to speak to us about your situation and find out how we can help you create clarity, give you financial confidence, generate opportunity and provide you with financial security please contact us to book an appointment.

This is a personal account from Teresa Caltabiano, who became a member of the ClearWay Advice team earlier this year.

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