John Cameron's personal blog

Serious discussion about your financial position now - and in the future.

It’s The Plan, Stupid.

George Bush lost the 1992 election to Bill Clinton by focussing on the wrong thing. Bush focussed on his record, and success in Gulf War one. Clinton focussed on the economy and jobs, and won the election, thus giving rise to the saying “It’s the economy, stupid”. In other words, focus on the right thing.  Often it is right in front of you, and afterwards you can seem stupid for not spotting it.

It’s much the same when it comes to planning your financial future.

Too often we see people focussing on particular financial products as a cure to their financial ills. Often the discussion goes along the lines of, “Should we have an allocated pension?” or, “Is an annuity the answer?” or “Is superannuation worth it?” or …….

  The only true answer to these questions, at this stage is “It depends”.

  All of the above are financial products, and as such they should be used as tools to solve a problem. In order to make sure you use the right tools in the best way, it is necessary to first have a “Plan”. Think of building a house. Before starting out, it is necessary to have a plan, and then the tools to put that plan into effect.

The same is true of financial products. Before choosing products, you need to have a plan. The plan should start with your own goals and objectives, your desired lifestyle, and your cost of living. It should include taxation and Centrelink, where applicable, as well as your tolerance for risk.

Then, choose products that will help you towards your goal.

Remember, Plan first, Products second.


Contact me if you require an expert speaker on your "financial future" at your next event or presentation.

Ph: (+618) 9322 7818 or email: This email address is being protected from spambots. You need JavaScript enabled to view it.  


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