Sometimes people just need a gentle push. Most people have some super, albeit often it's within a variety of super funds of which they know nothing of their performance, let alone their suitably to their own life situation. They often have a bunch of shares like Telstra and Commonwealth Bank they have acquired upon listing. Fortunately, theses have grown in value, but they have no idea of what they could have achieved had they diversified their portfolio. Also they are not aware of what they missed out on by not having them in a more suitable structure such as super.
Our client Margaret, was typical of this type of investor. For years she would not entertain taking any more positive action mainly because she didn't understand the workings of investments and didn't want to spend the time on it. Understandably, she had greater priorities such as bringing up a family.
Eventually, she accepted my offer to review everything and set up a self-managed super fund with a diversified portfolio of cash, shares, bonds and managed funds. To my surprise she has taken up an interest in the various components of the portfolio we advise on. The portfolio performs above benchmark and she is now looking using some of the earnings to buy a property within the fund. It has added another dimension to her life. And she knows she doesn't have to spend the time doing the work.
Often Margaret says to me, "I wish I'd done this years ago".
I've never said to her, "I told you so."