Finance with Don Fraser Fraser Farm Finance

The New Year is here – so my advice is ‘just do it now!’ Do it while you can. Do it while you are alive. Do it because you can.

I’ve spent my whole business lifetime watching people procrastinate, be stuck, not prepared to spend any money, not being an early adopter, and so on.

Procrastination means to postpone, put off doing something. Some real life examples might include the following.

Wills

If you haven’t got a will now – just do it. Trustees’ list of wishes – this is essential – don’t procrastinate or delay. It’s only a matter of calling your solicitor. Then sort out your money, property and Power of Attorney and health matters.

And don’t forget forgiveness of debt to family. Don’t die leaving a mess please. Many, many do as they just don’t get around to doing it – too busy procrastinating – just do it now!

Make a list – and tick the ‘just do it now’ jobs off.

Then there’s settling family grievances. What is the point of going to your grave with an unresolved issue with someone who may have annoyed you over some trivial matter –normally money, I dare say. Go have a word with them. Settle it now, while you can.

Family holidays

Recently flying back from Wellington I sat beside a bright young man and we got talking about what he remembered as special when he was much younger. “Oh,” he said. “Our grandfather took the whole family to Asia for a week. We grandkids all wore T-shirts with ‘Poppas grandkids’ proudly showing and he wore one with ‘Poppa’ on it.” It was an absolute highlight of his life. If you can afford it, and are thinking of it – just do it.

Changing properties

Maybe downsizing, getting yourself in a stronger position by selling surplus assets and so on.  My wife sold rural real estate and told me stories where we grumpy old fellas refused to make the necessary changes only to find it was too late because ill health beat them.

Money

If you’re thinking of giving family financial help with ‘limited’ guarantees – not unlimited guarantees – maybe assisting them into a property, then do it while you can. Do not keep putting it off. The caveat here is you must take good legal advice and with the world markets a bit shaky, decide if it is the best time to be buying and borrowing?

Play sport

Ride a bike, take a trip – New Zealand is an excellent place to start – read a book, introduce yourselves to the neighbours, make new friends, cook a new recipe, the list goes on... Just do it and do it while you can.

Health issues

They are insidious, they just creep up on you and rob you of your ability to ‘just do it!’ and suddenly it is too late. Your health limits what you can do and robs you of the opportunities you had planned. How many people do you know like that? Make sure it is not you.

Leaders

We all look up to and admire those people who do a lot for everybody and their community.

There is one fellow in the local Lions group here – in fact there are many – but he’s in everything, organises this and that and never says ‘no’.  He has the attitude to ‘do it now, do it while you can’, and by the time others have procrastinated he’s it done.

Role models

Look for role models in your community and look at how they just get on with it. How they run businesses, families, travel and still have time to talk to you. Get brave and have a conversation on how you might be able to emulate them. I remember as a young registered valuer, unsure of myself I went and asked a senior valuer if he could help. He was more than pleased to be asked and his wisdom made a huge improvement in my business and ability.

So get a realist view of yourself and the world, make a list of goals on what you want to do and take action!

Disclaimer – These are the opinions of Don Fraser of Fraser Farm Finance. Any decisions made should not be based on this article alone and appropriate professional assistance should be sought. Don Fraser is principal of Fraser Farm Finance and a consultant to the farming industry. Contact him on 0800 777 675 or 021 777 675. A disclosure document is available on request.