Can you afford not to have Trauma cover?

The daffodil is Australia’s symbol of hope. Each year, the iconic yellow flower blooms for Daffodil Day; one of Australia’s best known and most popular fundraising events.

Every day, around 350 Australians are diagnosed with cancer. But every day there is more reason for hope than ever before. Cancer research is discovering new and better treatments, cancer prevention campaigns are working and support for those affected by cancer is improving all the time. But with figures shockingly this high, it’s likely we’ll all be touched by cancer, either personally, or through a friend or family member.

Daffodil Day raises much needed funds for Cancer Council to continue its honorable work in cancer research, providing patient support and prevention programs for all Australians. However, organisations like Cancer Council also need your support. You can help this year by selling Daffodil merchandise, hosting a yellow morning tea or simply by spreading the message on social media.

Today is Daffodil Day. And we encourage everyone to get involved, in the hope that one day, we will find a cure. To make a donation or to find out more, please visit

Can you afford not to have Trauma cover?

Life is full of surprises. From marriage and kids to travel and promotions, there are so many adventures to be had. However, for some of us, life’s little joys can be interrupted by sudden illness. Even the healthiest people are diagnosed with illnesses they have little chance of preventing – like cancer.

If this does happen, we understand this time can be extremely difficult. Ideally, you should be focusing on your health and recovery, not monetary problems. Trauma cover can help by providing a lump sum payment that you can use any way you like to help ease any financial pressure. You can reduce your mortgage, pay for specialist medical care, travel, or cut back at work so you can spend more time with the family.

For further information about protecting your future, please contact us via email at or by calling us on 1300 761 669. And in the meantime, please support Daffodil Day.


Flying Australian Dollar (isolated with clipping path)

Dealing with an inheritance is something that many Australians will do in their lifetime. So how do you best manage a lump sum that has come your way and use it to help you reach your financial goals?

1. Have a strategy

The first thing you can do with an inheritance is decide how you can use it to set up financial security for your future. So first up – have a strategy. This is important because: “Most people run through an inheritance in two years or less,” says Jason Flurry, the president of Legacy Partners Financial Group. In his experience, the first mistake people make is they “blow the money on stuff for themselves”.

2. Take stock of where you are at

If you’ve inherited money, you need to know what your financial situation is now so you can make a realistic plan. Your personal circumstances will influence how best to use your inheritance. Whether it’s better to put the money towards paying down debt, investing, your retirement or starting a business, are all going to depend on the amount of money you’ve inherited and what will serve you best financially. Get your financials together and see what the fiscal lay of the land is.

3. Get advice

It’s a very good idea at this point (if not before) to speak to your financial adviser, who can really help you plan how to use and grow your inheritance. Your adviser can also help you with any tax implications of your inheritance.

4. Don’t rush into action

If you’ve had a financial windfall, take your time before taking action. Flurry says, “The temptation is to feel like you have to do something, but you really don’t. Sit down and dream a little, then back into the numbers and ask, ‘How can we do this with the least amount of risk?’” Acting too hastily can lead to trouble. Paying off your mortgage without thinking about future income in your old age, for example, could leave you living debt-free but in poverty. “If your house is paid for but you run through everything else, you can’t use shingles to pay for groceries,” Flurry says. “Then what do you do?” “You don’t want to be in that situation.”

5. Watch out for high risk investments

When you’re given money, especially if you weren’t expecting it, it does not always have the same value as when you have earned it. The danger is that you may be tempted to put it on high risk investments or business ventures. A slow and steady approach to financial independence may not be as exciting as a get quick rich scheme, but it may serve you better in the long term.

6. Enjoy

While it’s good to use an inheritance wisely, this doesn’t mean you can’t enjoy some of it immediately. When you create your strategy, factor is some fun spending. It’s all about balance.

If you would like to find out more about how this might relate to your personal circumstances, please do not hesitate to contact us via email at or by calling us on 1300 761 669.


Past performance is not a reliable indicator of future performance. The information and any advice in this publication does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. This article may contain material provided directly by third parties and is given in good faith and has been derived from sources believed to be reliable but has not been independently verified. It is important that your personal circumstances are taken into account before making any financial decision and we recommend you seek detailed and specific advice from a suitably qualified adviser before acting on any information or advice in this publication. Any taxation position described in this publication is general and should only be used as a guide. It does not constitute tax advice and is based on current laws and our interpretation. You should consult a registered tax agent for specific tax advice on your circumstances.

Discover how the inner circle can help you. Contact us today for a financial consultation.

This information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs.
Because of this, you should consider whether the information is appropriate in light of your particular objectives, financial situation and needs.
Odyssey Financial Management is an authorised representative of Securitor Financial Group Ltd.