TALKING FINANCE with Michelle Higgerson of Baiocchi Griffin Private Wealth EXPERT MATTERS Recently, in the waiting room of a healthcare clinic, a fellow patient struck up a conversation with me. This lady confessed, having never been one for the subject of science during her time at school, that she was amazed that the combinations of letters and shorthand wordings on her referral form could mean something to someone. Myself, also not one for the subject of science, then looked at my form and its vast array of acronyms and thought the same thing. Except that my form had the extra complication of the instructions having been handwritten by the doctor, making it a real glutton for punishment exercise for the nurse. All in all, we both agreed that, given our lack of knowledge and interest in this area, we would simply leave the interpretation and understanding to the medical experts, and we would carry on with our days full of blissful unawareness. There are numerous activities we can 'DIY'; painting the house, organising an overseas holiday, or growing our own vegetables in the garden. There are also numerous things we probably shouldn't 'DIY'; mechanical work on your car, extensive plumbing repairs, or backyard tattoos. And yet, there is nothing to stop these things being done by the interested yet unqualified. The same applies to investing - there are numerous ways this can be done on your own, and numerous advocates (all with their own book to sell of course, shoes optional) encouraging people to take their financial destiny into their own hands and do it on their terms. Usually, the primary reason advocated for DIY-ing financial affairs is to save money. Ironically though, this attempt at saving a modest amount of money can end up costing the investor greatly. And further, despite there being some interest and some knowledge, the DIY investor usually doesn't have the self-awareness to recognise the flaws of their approach, and the cost incurred to themselves. DIY investing also takes a great deal of time, researching companies, keeping abreast with financial news, analysing company announcements etc. Not to mention interpretation of ever-changing legislation in the areas of taxation and superannuation, and the interrelation of the various laws. You probably already feel that time is a rare and precious commodity, so where would these activities realistically fit into your schedule? Research even shows that people who seek professional financial advice and assistance feel better about their financial well-being than those who don't, regardless of the level of wealth. Therefore, like the area of medicine, why not leave the interpretation and understanding of financial matters to the experts and you can carry on with your day full of blissful unawareness? BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1, 462-464 Peel St, Tamworth NSW 2340 6766 9000 AFSL No 424658 This article is general in nature and does not take your individual situation into account. You are advised not to act on anything contained herein, or discussed as a consequence of the contents of this document, without receiving financial advice from a suitably qualified person such as a financial planner, lawyer or accountant. Follow us on Twitter @Baiocchi Griffin Find us on Facebook facebook.com/BaiocchiGriffinPrivate Wealth www.bgprivatewealth.com.au AW7420119 TALKING FINANCE with Michelle Higgerson of Baiocchi Griffin Private Wealth EXPERT MATTERS Recently , in the waiting room of a healthcare clinic , a fellow patient struck up a conversation with me . This lady confessed , having never been one for the subject of science during her time at school , that she was amazed that the combinations of letters and shorthand wordings on her referral form could mean something to someone . Myself , also not one for the subject of science , then looked at my form and its vast array of acronyms and thought the same thing . Except that my form had the extra complication of the instructions having been handwritten by the doctor , making it a real glutton for punishment exercise for the nurse . All in all , we both agreed that , given our lack of knowledge and interest in this area , we would simply leave the interpretation and understanding to the medical experts , and we would carry on with our days full of blissful unawareness . There are numerous activities we can ' DIY ' ; painting the house , organising an overseas holiday , or growing our own vegetables in the garden . There are also numerous things we probably shouldn't ' DIY ' ; mechanical work on your car , extensive plumbing repairs , or backyard tattoos . And yet , there is nothing to stop these things being done by the interested yet unqualified . The same applies to investing - there are numerous ways this can be done on your own , and numerous advocates ( all with their own book to sell of course , shoes optional ) encouraging people to take their financial destiny into their own hands and do it on their terms . Usually , the primary reason advocated for DIY - ing financial affairs is to save money . Ironically though , this attempt at saving a modest amount of money can end up costing the investor greatly . And further , despite there being some interest and some knowledge , the DIY investor usually doesn't have the self - awareness to recognise the flaws of their approach , and the cost incurred to themselves . DIY investing also takes a great deal of time , researching companies , keeping abreast with financial news , analysing company announcements etc. Not to mention interpretation of ever - changing legislation in the areas of taxation and superannuation , and the interrelation of the various laws . You probably already feel that time is a rare and precious commodity , so where would these activities realistically fit into your schedule ? Research even shows that people who seek professional financial advice and assistance feel better about their financial well - being than those who don't , regardless of the level of wealth . Therefore , like the area of medicine , why not leave the interpretation and understanding of financial matters to the experts and you can carry on with your day full of blissful unawareness ? BAIOCCHI GRIFFIN PRIVATE WEALTH Level 1 , 462-464 Peel St , Tamworth NSW 2340 6766 9000 AFSL No 424658 This article is general in nature and does not take your individual situation into account . You are advised not to act on anything contained herein , or discussed as a consequence of the contents of this document , without receiving financial advice from a suitably qualified person such as a financial planner , lawyer or accountant . Follow us on Twitter @Baiocchi Griffin Find us on Facebook facebook.com/BaiocchiGriffinPrivate Wealth www.bgprivatewealth.com.au AW7420119