INSIGHTS WITH EVALESCO
With rising costs of living and interest rate hikes putting stress on Australian families and the pandemic still not behind us, it’s important to ensure that all of us are taking care of our mental wellbeing in these challenging times.
What is resilience?
Resilience is the capacity to bounce back quickly from difficulties and describes one’s overall well-being. Being resilient is a sign you can adapt well in times of adversity, stress or trauma. You may still experience difficult emotions; but if you’re able to manage those difficult emotions with compassion and self-care.
Reframe threats as challenges
It can be helpful to reframe what you may perceive as a stressful or threatening experience as a challenge – an opportunity for growth. According to Brock Bastian, Professor of Psychology, Melbourne University, if you’re going to deal with a challenge life has thrown at you, the worst thing you can do is see it as purely a negative thing that’s bringing you down — it makes it much harder to cope with. Instead, it’s important to take stock of what resources you might have and adapt to the difficulty.
Step out of your comfort zone
Challenging yourself and exploring new things outside of what you’re used to can help build resilience. Pursuing goals and practicing skills that expand your abilities gives you a sense of achievement is a good way to test how you might respond if you don’t have to just rely on your strengths. It’s about being prepared to learn something new, to step out of your comfort zone and gain more experience in different areas.
Build close networks
Studies have also consistently shown that having strong interpersonal relationships and community support — giving and receiving care — is associated with better recovery from adversity. When you have a strong, close-knit community around you, people reach out to each other for support and strength during challenging times.
Acknowledge the challenges but don’t dwell on them
It’s okay to give yourself a pat on the back for your successes and reflect on the challenges you’ve faced so you can learn from them and be better prepared in the future. If you need help to build your mental resilience and wellbeing, reach out to support services such as Beyond Blue, our advisers are also here if you need to chat.
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We believe the true value of financial advice isn’t found in dollars and cents (although this is important too!) but in the peace of mind a financial plan can provide. It’s knowing where you want to go and how to get there, with a dedicated team behind you every step of the way.
We know the impact of good holistic financial advice can make and we have the life experience, technical capability and quality support team that can make that difference for you. We’ve empowered over 1000 families through the delivery of great financial advice, to be healthy, wealthy and happy.
The amount of super you’ll need when you retire depends on your big costs in retirement and the lifestyle you want. The Associate of Superannuation Funds of Australia (ASFA) estimates for a single $44,224 a year and for couples $62,562 a year is how much you may need. This is only an indicator and our advisers assess everyone’s individual circumstances.
The fees we charge for financial advice is only a fraction of the value we derive for our clients, meaning our clients are always better off after seeing us. Rarely do we encounter a new client invested appropriately for their needs, with adequate risk protection, structuring and estate planning provisions in place. Even small tweaks to a financial plan over a long period of time can result in drastically better outcomes for our clients which eclipses the fees of the financial advice. Additionally, you can opt-out of an ongoing fee arrangement at any time.
In our discovery meeting with you our advisers discuss the initial advice fee and the ongoing fees associated with our services.
After our initial phone call to discuss why you are seeking a financial adviser, we arrange a discovery meeting that outlines what is important to you, your current position, our areas of advice, our approach. We then present a Statement of Advice (SoA) to discuss your goals and our recommendations and go through the steps of how to proceed to the implementation stage. After signing the SoA, we discuss your questions, get you to sign the authority to proceed and complete any application forms before implementing the recommendations detailed in the SoA.
One thing to consider is the interest rate on your home loan in comparison to the rate of return on your super fund. Before making a decision, it’s also important to weigh up your stage in life, particularly your age and your appetite for risk. Whatever strategy you choose you’ll need to regularly review your options if you’re making regular voluntary super contributions or extra mortgage repayments. As bank interest rates move and markets fluctuate, the strategy you choose today may be different from the one that is right for you in the future
The information provided on and made available through this website does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Evalesco Financial Services do not warrant the accuracy, completeness or currency of the information provided on and made available through this website. Past performance of any product discussed on this website is not indicative of future performance. Copyright © 2019 Evalesco Financial Services. All rights reserved