There is an article written by Andrea Black for The Age, February 21, 2012 about living life single. Some responses she got was that life is wonderful living single. Some said how life is terrible and lonely after their partner passed away.
One of the loneliest times I have experienced is when I had to make a decision to sell a share that had jumped more then three fold in two weeks. In the midst of panicky excitement I wondered what is ahead, will the share price continue to go higher or will it fizzle out? The moment was stressful I was pacing up and down in my office, all alone, wondering what to do and whom to call.
One of the loneliest times I have experienced is when I had to make a decision to sell a share that had jumped more then three fold in two weeks. In the midst of panicky excitement I wondered what is ahead, will the share price continue to go higher or will it fizzle out? The moment was stressful I was pacing up and down in my office, all alone, wondering what to do and whom to call.
Up and down. Asking myself, shall I call friend James, Bob or Charmain? I was then like Gollum of “the Lord of the Rings” debating with myself. Fighting inside me, weighing the pro and cons. Deciding if they are into the sharemarket, if they have enough information as much as myself and will be able to give me a good and fair opinion, maybe I don’t want them to know too much about my sharemarket investments. Phew….that was a stressful time.
How I wish I had a godly being to help me, someone who is honest and have my interest at heart, someone who wants me to do well, better than him or her. There are some who have friends in their circle to offer help but life is so competitive now-a-days that people are becoming lonelier.
Then suddenly dawn broke, as if divine help answered my predicament, the voices came loud and clear “Your professional training Charles!”
The fundamentals, the strategies you talk about!
- Do they need to borrow more money for expansion to drive grow?
- Are they be able to meet the productions target, is their management and their work force up to scratch?
- Is their infrastructure ready to meet growing requirements to generate the earnings to justify the share price multiplies and will they be able to continue paying dividends?
There are so many things you can do yourself, SMSF, DIY your kitchen, bathroom or garden make over. Just read up the internet, there is plenty of information and tools to get the job done. But it is quite often heard “if only I have the time”.
You do and work best at what you are trained for. Some are multi taskers and they are the exception.
I am in the business of helping clients in the area of financial planning for more then 20 plus years, looking after investments, superannuation, personal insurance, Centrelink payments and tax strategies.
Simon (not his real name) didn’t have much savings when he retired from the public service. His HR colleague asked won’t he be better off if he takes the Commonwealth Super Pension. I rolled over his super and got him onto the Centrelink matured allowance. That resulted in Simon receiving a lump sum of money to use for emergencies and a reasonably good income from Centrelink.
A few years later he came to me, “Charles, I have a problem”. I am going to lose my Centrelink allowance with my million dollars heritance. I went through and reallocated his inheritance to investments available at the time and ever since he received almost the full pension until the day he sadly passed away.
Simon lived alone and his closest friend he had beside Jack (his pet dog) was Charles. One day I asked him, “Simon have you been on a holiday?” He asked, “Can I afford it?” If he doesn’t spend his money he will start losing his pension. So I organised a tour for him to Europe and after that he went off on his own.
Simon was 74 years old when he died alone in his house. When I received the news I liquidated his investments which saved his estate ten of thousands of dollars from the market down turn since May last year.
You can do a lot of things when you are young and healthy and this is also the time when you are most alert. This is a good time too to build rapport and learn if you can work and trust someone to handle your personal investments and finances. The internet is great, it keeps you informed and updated on all the available finance and market news. It allows you to know and understand what your adviser is saying and keep up with the strategies that he/she recommended. It is working together and contributing to your success.
I look forward to working in partnership with you for your financial success and independence!
Charles Choong
Executive Director
First Pacific Financial Services P/L
