Informed decision making aligned to your long-term goals is key to achieving farming business and personal financial success… Here we overview Decision Drafting with Dibbo which strives to help our clients to plan more effectively for both now and the future.
No doubt you’ve worked hard to gain the financial security foothold that got you to where you are today. For many people in their 30’s and 40’s, your immediate priorities are likely to be focused on consolidating your efforts as your family grows, paying down your debt and building your business.
But it’s also important to consider your longer-term future beyond the next five to ten years too. What you do now can have an enormous impact on your financial position later on.
Without considered planning, you could jeopardise your longer-term business and personal financial goals.
Good planning does not need to be complicated
While you may be managing many competing business or financial priorities, or your affairs are complex, your planning doesn’t need to be. Decision Drafting with Dibbo is simple, straightforward and designed to crystalise a clear path forward.
In our experience, taking the time to consider your goals in the short, medium and long term and mapping them out in context of your more immediate priorities offers enormous value. This approach underpins every project we undertake to ensure we deliver robust plans which work towards long term viability.
Everyone can benefit from this level of planning, not just those looking to undertake a major project.
Drafting your decisions
Once you are clear about where you want to be financially in the future, it’s then about drafting those goals down to appropriate actions that support your immediate priorities in alignment with your longer-term goals.
Our process is about helping you reduce stress to achieve clarity by refining your decision-making. Using real life scenarios we can help you to better understand the longer-term financial impacts of your decisions.
For example, we can help you weigh up the pros and cons of paying down debt versus investing in your business. Or considering an immediate purchase of machinery versus a staged approach that considers your overall debt position and business needs.
While we are accustomed to opening up meaningful discussions and favour straight-talk instead of technical-talk, it’s our ability to listen that we believe is of most importance. With more than thirty years of professional experience in the agri-business sector, we are also well qualified to provide business and personal financial solutions for rural families and business owners.
Planning your future is even more important for farming families
If your farming business involves the whole family, it’s important to set expectations for the future. Without planning, families can unintentionally devalue their farming business and strain their family relationships.
A succession plan can provide the basis for achieving positive outcomes for the farming business by structuring assets appropriately and balancing tax implications with the ongoing needs for the business.
We had no idea where to start when it came to planning for our future. We had lots of things on our “wish list” but had no idea how to put the dreams into reality. Dibbo cut through the financial lingo and helped us to focus on our goals. In just over one hour, we had six clear priorities and feel that they are now all achievable. Fleur and John Bailey*
If it’s time for you to consolidate what you’ve achieved so far and to begin prioritising what you need to do to reach your future goals, it’s time to get in touch. I invite you to contact me today on 08 8253 2906 or email firstname.lastname@example.org
Phillip Dibben is a financial adviser at Active Financial Management. Active Financial Management and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306 trading as Fortnum Financial Advisers.
This information does not consider your personal circumstances (including taxation) and is of a general nature only. You should not act on the information provided without first obtaining advice specific to your circumstances.
*This testimonial reflects the service Phillip offered one of our clients, however the names have been changed for privacy reasons.