A builder not dealing with their finances and neglecting them is a bit like building a house without foundations. Can you imagine how much better your job or business would be if you had your finances in order. As we all know, the state of your business is often the same state as your personal finances.
There are similar skills in organising a building project as there are in organising your finances. You need to know who is doing what by when, and have a good understanding of your cash flow. Unfortunately, along due to a lack of time, builders often neglecting their books and their financial future.
If you are reading this website and are a builder than you probably want your financial future to be better than it is. Some of the reasons which prevent most builders from having the financial future they want are:
(1) Having unforseen things happen. How would you be if you couldn’t work due to illness and injury? How would this affect your work and situation? If this is of concern to you, it may be time to fill in our two minute form
(2) They spend more than they earn. If you are doing this and your finances are not where you want them to be, financial advisers have advanced budgeting software that can help you understand where the money is going. Sometimes, as the late and great Jim Rohn said “The truth can set you free”.
(3) Not utilising the current tax and financial laws and regulations to their best opportunity. Using the laws is like using a nail gun versus a hammer. We have found a lot of builders don’t use ‘financial tools’ to their advantage. If you are a builder or property developer, it is definitely worth seeing how a financial planner can help utilise financial structures for the best result for you.
There are many ways to retire and a financial planner can help you retire even if that is not through accumulating wealth with superannuation.
There are many other reasons for lack of success, but the bottom line is you have nothing to lose by meeting a financial adviser. The worst case scenario of meeting an advisor is you’ll learn some ideas which you can utilise when you are ready.