{"id":536,"date":"2013-10-21T23:51:00","date_gmt":"2013-10-21T21:51:00","guid":{"rendered":"http:\/\/richideas.co.za\/common-financial-planning-mistakes-part-three\/"},"modified":"2017-09-21T12:39:10","modified_gmt":"2017-09-21T10:39:10","slug":"common-financial-planning-mistakes-part-three","status":"publish","type":"post","link":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/","title":{"rendered":"COMMON FINANCIAL PLANNING MISTAKES | PART THREE"},"content":{"rendered":"<h3>HINDSIGHT IS ALWAYS 20:20<\/h3>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">If a person has perfect vision is both eyes, they are considered to have 20:20 vision. Whilst we can not always predict what will happen in the future, it\u2019s always seems to easy to see the things that have happened with great clarity. Hence, when we look back, events seem so much clearer than prior to their happening.<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">As part three of our articles on common mistakes in financial planning, (catch up on part two too) we will cover the final three of <b>7 common pitfalls in the financial journey<\/b>. These three concerns cover policies that help us plan for unforeseen events that we hope will never happen, but in wisdom realise that they might. Remember, you must never create a portfolio out of fear of the unknown, but out of the power to plan for the future!<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Here are points five through seven:<\/p>\n<\/div>\n<h4 style=\"text-align: justify;\">5. No Disability Insurance<\/h4>\n<div style=\"text-align: justify;\">Another overlooked element of financial planning is <b>Disability Insurance<\/b>. Your ability to earn is what keeps your family secure. If you can\u2019t work your entire family may be at risk.<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The risk of disability, as well as its potential cost, is simply too great to ignore. Once again, a company-sponsored plan may be too limited for your needs. You will want to study the policy carefully to understand all of the provisions, including the <b>definition of disability<\/b>, the <b>waiting period following disability<\/b> before you can collect and <b>the length of the payment period<\/b>.<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<h4 style=\"text-align: justify;\">6. No Medical Cover<\/h4>\n<div style=\"text-align: justify;\">Having no medical cover can turn the best financial plan on its head. Even a relatively minor motor accident can set you back R10k. A serious accident can cost millions. Even if you can\u2019t afford a plan that has all the bells and whistles at least have a hospital plan in place that will cover part of your medical expenses.<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<h4 style=\"text-align: justify;\">7. Estate Planning<\/h4>\n<div style=\"text-align: justify;\">Some people have the impression that estate planning is just for the rich. Unfortunately, that view can be costly to their heirs.<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Your estate includes such items as your home, cash, investments, personal property, and other assets you and your spouse may own jointly or as <b>community property<\/b>. These may add up to a lot more than you thought you were worth. Estate taxes can eat away at your assets and your heirs could receive far less than what you had anticipated.<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">You owe it to your family to have an estate plan in place. An effective will, a trust arrangement and adequate life insurance are some of the options available to help your heirs get what they deserve. Consult your tax, legal and financial advisors for help in putting together an estate plan.<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">And that\u2019s it! Seven crucial areas to pay attention to when planning for your financial future \u2013 and your family\u2019s too.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HINDSIGHT IS ALWAYS 20:20 If a person has perfect vision is both eyes, they are considered to have 20:20 vision. Whilst we can not always predict what will happen in the future, it\u2019s always seems to easy to see the things that have happened with great clarity. Hence, when we look back, events seem so much clearer than prior to their happening. As part three of our articles on common mistakes in financial planning, (catch up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":844,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,14],"tags":[],"class_list":["post-536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-planning","category-tips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>COMMON FINANCIAL PLANNING MISTAKES | PART THREE - Contatto North<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COMMON FINANCIAL PLANNING MISTAKES | PART THREE - Contatto North\" \/>\n<meta property=\"og:description\" content=\"HINDSIGHT IS ALWAYS 20:20 If a person has perfect vision is both eyes, they are considered to have 20:20 vision. Whilst we can not always predict what will happen in the future, it\u2019s always seems to easy to see the things that have happened with great clarity. Hence, when we look back, events seem so much clearer than prior to their happening. As part three of our articles on common mistakes in financial planning, (catch up [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/\" \/>\n<meta property=\"og:site_name\" content=\"Contatto North\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-21T21:51:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-09-21T10:39:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/contattolive.co.za\/north\/wp-content\/uploads\/2013\/10\/planningforfinancialsuccess-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"726\" \/>\n\t<meta property=\"og:image:height\" content=\"239\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"anthonyb@timslatter.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"anthonyb@timslatter.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/\"},\"author\":{\"name\":\"anthonyb@timslatter.com\",\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/#\\\/schema\\\/person\\\/6b55c4b0a6054f79a0f61aa82405b972\"},\"headline\":\"COMMON FINANCIAL PLANNING MISTAKES | PART THREE\",\"datePublished\":\"2013-10-21T21:51:00+00:00\",\"dateModified\":\"2017-09-21T10:39:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/\"},\"wordCount\":472,\"image\":{\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/wp-content\\\/uploads\\\/2013\\\/10\\\/planningforfinancialsuccess-1.png\",\"articleSection\":[\"Financial Planning\",\"Tips\"],\"inLanguage\":\"en-ZA\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/\",\"url\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/\",\"name\":\"COMMON FINANCIAL PLANNING MISTAKES | PART THREE - Contatto North\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/wp-content\\\/uploads\\\/2013\\\/10\\\/planningforfinancialsuccess-1.png\",\"datePublished\":\"2013-10-21T21:51:00+00:00\",\"dateModified\":\"2017-09-21T10:39:10+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/#\\\/schema\\\/person\\\/6b55c4b0a6054f79a0f61aa82405b972\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/#breadcrumb\"},\"inLanguage\":\"en-ZA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-ZA\",\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/#primaryimage\",\"url\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/wp-content\\\/uploads\\\/2013\\\/10\\\/planningforfinancialsuccess-1.png\",\"contentUrl\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/wp-content\\\/uploads\\\/2013\\\/10\\\/planningforfinancialsuccess-1.png\",\"width\":726,\"height\":239},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/common-financial-planning-mistakes-part-three\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"COMMON FINANCIAL PLANNING MISTAKES | PART THREE\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/#website\",\"url\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/\",\"name\":\"Contatto North\",\"description\":\"Moving Financial Planners Forward\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-ZA\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/#\\\/schema\\\/person\\\/6b55c4b0a6054f79a0f61aa82405b972\",\"name\":\"anthonyb@timslatter.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-ZA\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ccde1ee561fd0252de63548ca8e3757cbb208c3cc93dba514690b9c8a7e33635?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ccde1ee561fd0252de63548ca8e3757cbb208c3cc93dba514690b9c8a7e33635?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ccde1ee561fd0252de63548ca8e3757cbb208c3cc93dba514690b9c8a7e33635?s=96&d=mm&r=g\",\"caption\":\"anthonyb@timslatter.com\"},\"url\":\"https:\\\/\\\/contattolive.co.za\\\/north\\\/author\\\/anthonybtimslatter-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"COMMON FINANCIAL PLANNING MISTAKES | PART THREE - Contatto North","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/","og_locale":"en_US","og_type":"article","og_title":"COMMON FINANCIAL PLANNING MISTAKES | PART THREE - Contatto North","og_description":"HINDSIGHT IS ALWAYS 20:20 If a person has perfect vision is both eyes, they are considered to have 20:20 vision. Whilst we can not always predict what will happen in the future, it\u2019s always seems to easy to see the things that have happened with great clarity. Hence, when we look back, events seem so much clearer than prior to their happening. As part three of our articles on common mistakes in financial planning, (catch up [&hellip;]","og_url":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/","og_site_name":"Contatto North","article_published_time":"2013-10-21T21:51:00+00:00","article_modified_time":"2017-09-21T10:39:10+00:00","og_image":[{"width":726,"height":239,"url":"https:\/\/contattolive.co.za\/north\/wp-content\/uploads\/2013\/10\/planningforfinancialsuccess-1.png","type":"image\/png"}],"author":"anthonyb@timslatter.com","twitter_card":"summary_large_image","twitter_misc":{"Written by":"anthonyb@timslatter.com","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/#article","isPartOf":{"@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/"},"author":{"name":"anthonyb@timslatter.com","@id":"https:\/\/contattolive.co.za\/north\/#\/schema\/person\/6b55c4b0a6054f79a0f61aa82405b972"},"headline":"COMMON FINANCIAL PLANNING MISTAKES | PART THREE","datePublished":"2013-10-21T21:51:00+00:00","dateModified":"2017-09-21T10:39:10+00:00","mainEntityOfPage":{"@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/"},"wordCount":472,"image":{"@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/#primaryimage"},"thumbnailUrl":"https:\/\/contattolive.co.za\/north\/wp-content\/uploads\/2013\/10\/planningforfinancialsuccess-1.png","articleSection":["Financial Planning","Tips"],"inLanguage":"en-ZA"},{"@type":"WebPage","@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/","url":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/","name":"COMMON FINANCIAL PLANNING MISTAKES | PART THREE - Contatto North","isPartOf":{"@id":"https:\/\/contattolive.co.za\/north\/#website"},"primaryImageOfPage":{"@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/#primaryimage"},"image":{"@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/#primaryimage"},"thumbnailUrl":"https:\/\/contattolive.co.za\/north\/wp-content\/uploads\/2013\/10\/planningforfinancialsuccess-1.png","datePublished":"2013-10-21T21:51:00+00:00","dateModified":"2017-09-21T10:39:10+00:00","author":{"@id":"https:\/\/contattolive.co.za\/north\/#\/schema\/person\/6b55c4b0a6054f79a0f61aa82405b972"},"breadcrumb":{"@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/#breadcrumb"},"inLanguage":"en-ZA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/"]}]},{"@type":"ImageObject","inLanguage":"en-ZA","@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/#primaryimage","url":"https:\/\/contattolive.co.za\/north\/wp-content\/uploads\/2013\/10\/planningforfinancialsuccess-1.png","contentUrl":"https:\/\/contattolive.co.za\/north\/wp-content\/uploads\/2013\/10\/planningforfinancialsuccess-1.png","width":726,"height":239},{"@type":"BreadcrumbList","@id":"https:\/\/contattolive.co.za\/north\/common-financial-planning-mistakes-part-three\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/contattolive.co.za\/north\/"},{"@type":"ListItem","position":2,"name":"COMMON FINANCIAL PLANNING MISTAKES | PART THREE"}]},{"@type":"WebSite","@id":"https:\/\/contattolive.co.za\/north\/#website","url":"https:\/\/contattolive.co.za\/north\/","name":"Contatto North","description":"Moving Financial Planners Forward","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/contattolive.co.za\/north\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-ZA"},{"@type":"Person","@id":"https:\/\/contattolive.co.za\/north\/#\/schema\/person\/6b55c4b0a6054f79a0f61aa82405b972","name":"anthonyb@timslatter.com","image":{"@type":"ImageObject","inLanguage":"en-ZA","@id":"https:\/\/secure.gravatar.com\/avatar\/ccde1ee561fd0252de63548ca8e3757cbb208c3cc93dba514690b9c8a7e33635?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ccde1ee561fd0252de63548ca8e3757cbb208c3cc93dba514690b9c8a7e33635?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ccde1ee561fd0252de63548ca8e3757cbb208c3cc93dba514690b9c8a7e33635?s=96&d=mm&r=g","caption":"anthonyb@timslatter.com"},"url":"https:\/\/contattolive.co.za\/north\/author\/anthonybtimslatter-com\/"}]}},"_links":{"self":[{"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/posts\/536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/comments?post=536"}],"version-history":[{"count":1,"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/posts\/536\/revisions"}],"predecessor-version":[{"id":2562,"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/posts\/536\/revisions\/2562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/media\/844"}],"wp:attachment":[{"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/media?parent=536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/categories?post=536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/contattolive.co.za\/north\/wp-json\/wp\/v2\/tags?post=536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}