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I believe one of the most important actions you can take in any area of your life is to acquire mentors. You simply don't know what you're unaware of. Having someone to guide you, accelerate your growth, and keep you safe from yourself is critical.
In my first career as a youth worker, I had the very best mentors, and I am eternally grateful to them for keeping me safe, protecting me from myself, and sustaining me when times were tough.
When I transitioned into business ownership, even though I knew very little, I chose not to seek out mentors. It was a terrible decision that cost me a lot of money and wasted much time. It has been one of my worst financial decisions.
I believe one of the most important actions you can take in any area of your life is to acquire mentors.
The rules around money are quite simple: spend less than you earn, save the first 10%, purchase appreciating assets, only take on good debt, and utilize "The 8th Wonder of The World" — Compound Interest. But for me, the key has been the mentorship aspect. I've been fortunate to build some great relationships over time, but in those initial years, the lack of a mentor was the significant mistake.
My role model in terms of money is actually my partner. She is disciplined, tracks cash through complicated spreadsheets, makes bold decisions, celebrates life's joys, demonstrates unparalleled work ethic, utilizes beneficial debt, embraces continuous learning, and maintains a healthy scepticism towards financial advice. It might sound a bit gushy, but it's true.
Graham.
Graham Goodisson (FSP95428) is a Financial Adviser with Velocity Financial (FSP95466). No investment decision should be taken based on the information in this blog alone. Please see Graham’s disclosure statement on our website.
About Graham
Hi there, I’m Graham and I started Velocity Financial nearly 20 years ago. I had for many years been running youth development programmes for The Salvation Army and I liked the idea of continuing to help people thrive in other areas of their lives. It started with helping first home buyers, and I now work mostly with business owners. This is around planning, lending, and managing risk for them and their staff. I’m passionate about community and connecting those in need with opportunity. I’ve been very privileged to do this in my previous career, now in my business and also for 20 years as a Trustee of the Te Aro Health Clinic. Our clinic delivers high quality health care for Wellington's most vulnerable and I'm very proud of the fact that Te Aro is now an integral part of Wellington City Health system. I work in New Zealand's two best cities, Tauranga and Wellington. In Tauranga I swim, bike and run (maybe YOGA if I'm feeling particularly aware!) and in Wellington I mostly seem to buy my adult children dinner and drinks.
Always get professional advice
The information shared in this post is meant to be general guide to support you on your journey. When making important decisions about your finances, we encourage you to seek independent financial advice first, tailored to your unique situation. As well as talking with a financial adviser, make sure you talk to your lawyer and accountant too – together they'll help you find the best solution for your specific situation. Our knowledgeable financial advisers are here to help. Check out our website for the details about our financial advisory services in our disclosures https://www.velocityfinancial.co.nz/disclosure-statement.