The last 6 months has prompted many of us to think more about the future than perhaps we normally would. 2020 has been a year of the "unexpected" and we've still got nearly two months left to go. I've been receiving a lot of questions from many of you in the mining and resources industry regarding financial planning, superannuation, insurance, budgeting etc and being prepared for the unexpected. So, to help with this I've put together a small e-book that provides a checklist of the things you should be thinking about at various stages of your life when it comes to your finances. The book doesn’t contain specific advice as it doesn’t take into account your personal circumstances, what it does contain though is a series of prompts to get you thinking. If you’d like to discuss further, please don’t hesitate to message me on LinkedIn.

1. PLANNING NOW & INTO
THE FUTURE
FOR THOSE WORKING
IN THE MINING AND
RESOURCES INDUSTRY
Vol. 1

3. YOUR
ADVISER
Working in the mining industry tests us all every now and then. Trust
me, I know your world only too well. You make a few more sacrifices
than most when it comes to terms of employment. You work long
shifts, long hitches and are often away from home for extended
periods. In my unique dual role as a Site Senior Executive in
Queensland's resources industry, and a Financial Adviser, I get your
world. I understand your concerns & desires throughout the industry’s
highs and lows.
My name is Andrew O’Brien, I own and operate a financial planning
business in Brisbane, and I specialise in providing services to those in
the Mining and Resources Industry.
2020 has been a tougher year than most, for many its meant
redundancies, reduced hours, and employment uncertainty. I’ve been
receiving a lot of questions from those of you working in the industry
about how to plan for now and into the future, so I thought it might be
useful to put together a bit of a check list for you.

4. You risk assess every task you perform at work. But have you risk assessed your financial planning needs?
The following is a list of things to consider when it come to your finances. It’s broadly based on age, isn’t
exhaustive and isn’t personal advice. It’s simply a prompt to get you thinking and perform a bit of a risk
assessment on yourself and your finances. Think about each dot point and how it applies to you and
whether or not you’ve planned for it.
I’ve also included a series of dot points for each of the key areas of financial planning. It may prompt you to
think about things like Superannuation, Investments, Budgeting and your Insurance needs.
YOU RISK ASSESS RIGHT?

5. Consider
cashflow management
Have you established a budget? What do you earn and what
do you spend?
AGE 20 - 40
Consider
your first home
Saving for a deposit? Can you afford a loan?
Maybe
your getting married?
Asset ownership. Insurance considerations.
Consider
debt management
Managing your mortgage.
Consider
savings, business & career planning
Building cash reserves for a rainy day but also for
opportunities.

6. AGE 20 - 40
Consider
longer term investment strategies - like your
super
Where’s your super invested, do you have multiple funds,
have you nominated beneficiaries?
Maybe
you're having children?
Reduction in income.
Consider
savings for children's expenses - education for
example
Budgeting for increased expenses.
Consider
risk management planning "protection"
Do you have personal insurance? Life insurance, disability
insurance, income protection and trauma cover. Is it enough
or too much? How much does it cost and is it structured
appropriately?

7. AGE 20 - 40
Consider
family healthcare
Private Health cover? Medicare levy surcharge.
Lifestyle.
family orientated
Allowing money in the budget for holiday’s and time with
your family.

9. AGE 40 - 50
Consider
cashflow management
sticking to your budget.
Consider
debt management
are you managing your debt?
Consider
investment
Do you have access cash reserves and cashflow for
investment?
Consider
risk management planning "protection"
Have your insurance needs changed, are your coverage
amounts still relevant.
Consider
tax management
Contributions to superannuation. Salary sacrificing.

10. AGE 40 - 50
Consider
inheritance issues
What to do with the money. Pay down debt, invest, boost
cash reserves.
Consider
estate planning
Who are the beneficiaries of your assets?
Consider
retirement planning - do you have a will?
Will you have enough to retire?
Your
healthcare
What's the price of your private healthcare?
Your
longterm care planning - parents & self
How will care for your parents be funded as they get older?
Lifestyle.
family enjoyment & reward
Are you enjoying life and being rewarded for your hard
work?

12. AGE 50 - 65
Consider
cashflow management
Adjusting your budget as your needs change.
Consider
debt elimination
Are you on track to pay off your debt?
Consider
asset protection
What structures do you have in place?
Consider
risk management planning "protection"
What’s the cost of your insurance, do you still need it?
Your
tax management
Contributions to superannuation as you approach
retirement

13. AGE 50 - 65
Your
transition to retirement
getting ready for retirement.
Consider
estate planning
Are your beneficiary nominations and will up to date and
relevant?
Consider
financial assistance to family
Are you able to provide financial help to your family?
Your
healthcare
Healthcare needs increasing, what’s the cost of care?
Lifestyle.
family enjoyment & reward
Enjoying your retirement years.

15. Budgeting and saving
Debt retirement
Determine what type of super fund to use
Establish 1 sustainable superannuation fund ensuring consideration is given your risk profile
Establish death benefit nominations
Personal deductible contributions
Determine whether insurance policies should be purchased inside super
Establish income protection insurance
Establish life insurance needs
Establish TPD and trauma insurance needs
Child trauma
Consolidate non - deductible debts
Establish a regular savings plan
Cashflow management
Superannuation
Insurance
Investment
THINGS TO THINK ABOUT.

16. andrew@hindsightwealth.com
0403 156 625
Level 4, 33 Remora Road Hamilton Q 4007
GET GOOD ADVICE.