Sam and Rebecca Carroll

Why it’s never too early to engage a financial adviser

By Sam Carroll | Managing Director & Financial Adviser

“I wish I had met you a decade ago.”

This is one of the most common statements that I’ve heard from my clients over my 15 years in the industry.

The average age of a Talem Wealth client is early 50s. This could be by virtue of my father, Paul Carroll, who started the business in 1996 and attracted many people from his generation to better their financial circumstances. However, there’s other factors for this too. I’ve noticed that when people hit their 50s, they start considering retirement. They might be nearly or completely mortgage free and have a reasonably substantial superannuation account accumulated and want to plan out their next few years. Now, as a financial adviser and the Director of Talem Wealth, I can provide people who are considering retirement with a great strategy to accelerate their wealth accumulation from now until they want to stop work. But, what I can’t give them is time – unless they’re prepared to work longer.

Time is of the essence

You see, for all the discipline and focus that you might have when it comes to achieving your financial goals, there’s always an element of time required. If you’re looking to get your debt down or invest to double your wealth, you’re going to have to give it some time for it to come to fruition. These sorts of financial changes don’t happen overnight and it’s time that allows wealth to build, so you have enough money to live off well into retirement.

It’s for this reason that I find myself spending more time convincing those closer to my age – mid-30s (or even earlier) – that they need to act now. When it comes to your financial wellbeing, the sooner you start, the less effort is required to reach your goals. Do you know why? Because you have the one most precious commodity that even the best financial adviser can’t manufacture: time.

Ain’t nobody got time for excuses

As I’ve embarked on this mission, I’ve been met with a range of excuses: “Sydney property is too expensive.” “I don’t earn enough money.” “The cost of living is just far too high.” “I work hard for my money, so why can’t I treat myself?” And, perhaps the only justified one, “it’s too complex and I don’t know where to start.”

Well, I’m here to politely call ‘BS’ on these excuses. If you want something bad enough, you’ll find a way to make it work. Not everyone needs the perfect property in the North Shore and Eastern Suburbs of Sydney (this is a perfect time to ask me about ‘rent-vesting’). I’ve witnessed a family with three children raise a household on a gross income of less than $100,000 and still retire comfortably. As for the complexities? Ask for help from someone like me, or any good financial adviser.

Even advisers need advising

Now is probably the right time for a personal confession. Until recently, even I didn’t have my own formalised financial plan.

My wife Rebecca and I had the basics covered, but we were the equivalent of the plumber with a leaky tap or a builder living in an unfinished house. Nine months ago, we made the significant decision to meet with our own financial adviser – an external party to hold us to account and to assist us in achieving our financial goals. Not to get all ‘life coachy’ on you, but the experience has been life-changing for us. We’ve made more progress financially in the last nine months than we have over the last two and half years. And, the best bit? Contrary to what most people think, we haven’t had to significantly adjust our lifestyle – it’s about prioritising what’s important to us and how we want to spend our money. Now we have a clear plan with a whole lot of automation. This means we can continue to enjoy our life together, whilst knowing that everything is ticking along nicely in the background. It’s a wonderful feeling.

Stop waiting, start doing

You know what else is a great feeling? Showing other people how to do this and empowering them to realise their full financial potential. So, you are going to be hearing from me a lot more on this topic in the future as I believe I owe it to my friends, family and wider networks to educate everyone on these benefits, so they can experience the happiness and peace of mind that we currently do.

I implore you to take the first step to get in control of your finances by talking to an adviser. Take advantage of the time you currently have, stop making excuses, and get on with it. There aren’t many guarantees in life, but one I can make to you is, the sooner you start, the easier it will be in the long run. Ready to chat? Talk to me today.


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North Sydney, NSW, 2060
Phone: 02 9906 1125

Talem Wealth
ABN 89 074 122 428

Talem Wealth is an Authorised Representative of Walker Lane Pty Ltd.
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