New Zealand Financial Planning - Guiding Kiwis to financial well being

Phone: (09) 551-6100

Freephone: 0508-468 378

Fax: (09) 489-6111

Guilt Free Decision Making

I’m a numbers person. I’m a research scientist and I work with data and statistical information for a living. I thought for sure I’d be able to handle my own financial affairs but I have recently found that my emotions can definitely get in the way of making sound decisions.

Last year, my mother died and left a large sum of money to me. She also owned a gardening supply shop that she absolutely loved which she also left to me. I decided to take my annual leave to go visit the shop and sort out the management of it.

One of mum’s employees was keen to become the manager which was a relief, so I left him to it and went back home. I soon found out that though he was great with people he wasn’t that great with numbers nor with the overall management of the business. I wasn’t sure what to do but I didn’t want to sell because I felt that I would be letting everyone down, including my mother.

I let the shop carry on for a few months, losing money and slowly eating into my inheritance. Finally, after a particularly slow week, I decided something had to change. I consulted my lawyer, my accountant and on his recommendation, an NZFP financial adviser.

Guiding Kiwis to financial wellbeing is what we do.

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My talk with the financial adviser was extremely helpful because we went through quite a robust question and answer process, designed to help him understand who I am and what I want out of life. It really framed the fact that I did not want to own a gardening business and I certainly did not want to lose money over it even though it belonged to mum. She wouldn’t want me to be in such a position.

I decided to resolve the issue with the business by getting it ready to sell and after 3 months, my business broker found a buyer who was keen to keep the current staffon board.

In addition to helping me through the situation with mum’s shop, my financial adviser helped me action the plan we had created together and I now have an investment portfolio, all of the appropriate insurances, and a plan that reflects what goals are important to me.

I feel excited now about my relationship with money. I no longer see it as a source of stress but as something that enables me to live the life that I want to live, guilt free.