Some dates become indelible in our memories - a loved one's birthday, a historic moment, an anniversary, the birth of a child, or an event that alters the course of our lives. July 16, 1994, is one such date that disrupted my world and set me on an unforeseen path. It took years for me to truly grasp its significance and understand how it had reshaped my life.

In 1994, the world was markedly different. Mortgage rates surged from an average of 7.4 percent to 9.2 percent between February and October. The average New Zealand house price was $130,000, equivalent to $820,000 today (adjusted for inflation). Memories of the 1987 stock market crash still lingered in people's minds.

We Kiwis have a classic "she'll be right" attitude, often leading the world in innovative ideas and technology. But hindsight sometimes asks, "What if we had acted sooner, heeded that advice, or been more cautious?"

It was the nineties, and I was young and untouchable.

I was an early adopter of mountain biking, riding rugged trails on basic, even primitive, bikes. As a young father working as an automotive mechanic, I trained fervently, competing on weekends and taking risks that might have been unwise given my responsibilities.

The Crater to Lake Challenge was an epic multi-discipline event. I assembled a team with remarkable talents, and we competed against serious corporate-sponsored teams. It was an incredible experience.

I had no formal coaching; my mountain biking skills were honed through riding with more experienced bikers, taking risks, crashing, and learning from mistakes.

One day, the owner of Sam's Bike Shop cautioned me about my risky riding style, a warning I didn't take to heart.

In preparation for the 1994 Crater to Lake Challenge, I joined a Saturday shop ride feeling fit and confident. However, one impulsive decision changed everything. Waiting for a fellow rider to clear a steep descent, I made a rash choice. Without lowering my seat or shifting my weight backward, I plunged down a treacherous section. My body position was all wrong, and I knew it immediately. I tried to ride it out but soon found myself tumbling down the slope.

A rude wake up call..

I woke up in excruciating pain, thinking I had severely injured my shoulder. But I was wrong.

My injuries were far more serious than I could have imagined.

Emergency services arrived, and the Life Flight Trust chopper eventually rescued me. It was then that I realized the extent of my injuries. I had broken my neck, fracturing C2 in the front and back.

My paralysis was initially temporary, but the journey was arduous. After two weeks, I started regaining movement in my hands and feet.

And a long road to recovery..

My path to recovery was just beginning. To heal my neck, I needed Halo Traction - four titanium pins in my skull connected to a halo, with 16 kilograms of weights hanging from it to stretch my spine.

It was a gruelling experience, but time and patience were crucial.

Another option was surgery, with a 75% chance of permanent paralysis. We opted for traction, which meant three months flat on my back and two more in the halo jacket.

Throughout this journey, the importance of a long-term approach, sticking to a plan, and seeking advice became increasingly evident.

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A long term approach is one that works

Just as in the financial world, where markets have their ups and downs, I learned that a consistent, well-thought-out approach pays dividends.

Time is a powerful factor. If you'd bought a house in 1994 for $130,000, it would be paid off today and worth approximately $820,000. Like the housing market, financial markets have their ups and downs. A long-term approach, sticking to a plan, and seeking advice can lead to financial freedom.

I took a long-term approach to my recovery, heeding professional advice and adhering to a plan. My goal was to regain mobility and lead a meaningful life. Along the way, I faced numerous challenges, made mistakes, and broke promises to myself.

Today, at 57, I'm fit, healthy, and deeply appreciate my mobility and life. I'm back on my bike and loving every minute of it.

The moral of story

Take it from me, as an author of this blog with a bit of personal experience, and as a financial adviser - getting a plan in place to deal with life's curve balls is a great idea.

Taking a long-term view, seeking sound advice, getting pieces of personal insurance (some is better than none), putting some money aside for an emergency fund and investments is a great idea.

You may have a plan, but the universe may have another.

Prepare for the worst but hope for the best. That way, no matter what happens, you're ready, and you're pleasantly surprised if things turn out well!

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Dean.

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Hi everyone! My name is Dean, and I am Financial Adviser and coach. I work with people to help them to achieve their financial goals and assist them to make smarter financial decisions. Drop me a line for a chat and to work through your goals. I work with you to become financially fit and together we create a game plan for your financial future. D.

Disclaimer: Dean Blair (FSP87402) is a Financial Adviser with Velocity Financial (FSP95466). No investment decision should be taken based on the information in this blog alone. Please see Dean’s disclosure statement on our website.