Philip Holland Financial Independence financialindependence

It's coming up to that time of the year...the end of 2010!

That means making New Year's resolutions.

Most of us make these vows that generally fall into two main categories:

1. Physical – lose weight, get fit and live longer.

2. Financial – make more money, pay off the mortgage faster and save for your retirement.

So what are some of the practical things you can do in each of these two main ‘resolution' categories?

• Physical – get help! Seriously, if you're anything like me you will make a start and then it fades away and all of a sudden you're back to square one. Some of our clients like the Weight Loss Girls, and Bodysense in Bethlehem is another great option. With a little help you can reach your goals faster.
• Financial – again get help. Most people want the same things every year but forget or give up because they never achieve it. If you have a want make it a need and get help to get it.

For example, if you want to repay your mortgage faster there are many simple strategies and tools (that do not cost thousands of dollars in fees) that a good mortgage adviser can help you with.

Likewise with saving money – for short term goals like Christmas presents or longer term goals like your retirement - there are many simple cash flow strategies that can help you reach your financial goals faster. KiwiSaver is an ideal strategy for many Kiwis to start saving for retirement. We have seen huge growth in KiwiSaver and are starting to see some very healthy balances in people's KiwiSaver funds. This is great news for those who have decided to be proactive and take advantage of a good deal. So to make your New Year's Resolutions actually happen make sure you get some help.

Philip Holland is the Managing Director for the Financial Independence group, Tauranga's leading specialist insurance and mortgage advisers. For further information please contact an adviser at Financial Independence 578 4414 or email info@yourbroker.co.nz. A Disclosure Statement is available free of charge on request.