Do you have a large single stock holding that you are concerned about and would like to protect?
Bruce Kluk runs a boutique financial advisory business, nestled in the heart of a quiet leafy street in beautiful Double Bay, Sydney Australia. Yet from his third floor office looking on to the park, his firms manages the financial affairs of some of the most successful people in Australia. They have come to Bruce and his team for guidance, ignoring the pleas of advisers from large financial institutions and the super slick private banks.
When I first conceived of this idea to interview successful people about their happiness, Vincent O’Connor my former headmaster at the Newmarket boys school, Cork was first on the list. A person that I don’t think I have met his peer in the 30 odd years that have passed. His primary school 5th and 6th classes were more akin to going to a university tutorial with an enlightened lecturer. His broad based approach to education inspired his students to be inquisitive and to challenge themselves.
In my profession, when I mention the topic of retirement to people it can often generates a mix of resignation/denial or fear. Many us will have seen older family and friends with declining health, unattractive lifestyles and living on reduced incomes. Unsurprisingly many of us hate thinking about retirement, never mind planning for it.
Often when I introduce the idea of building a financial plan to people it is regard as an alien concept, but in fact, it is one of the key steps to successfully building your wealth. That is not to say that people do not have financial plans but very few people have it written down and even less have crunched the numbers.
When is the last time a friend, a family member or professional asked you the question “Are you happy?” Strange, that such an important and fundamental question is so rarely asked or discussed in everyday life. The only time it appears to be socially acceptable to ask is when someone is getting married or have made a permanent move to another part of the country/overseas.