Brad Dudumas, business owner, Financial Adviser, father, son, brother, friend and power athlete [in his mind]…This month Brad shares his thoughts, views and general advice about the world, money and important stuff! Thanks, Brad, as always you are candid and entertaining!

1. How do you answer the question, “What does Profusion Planning do?”

I’ve found the simplest way to explain what we do is to say that we help bridge the gap between where someone is now and where they want to get to. Importantly we do so in a way that takes the worry away from their finances while providing a defined path/map to follow.

2. With more and more people adopting a cashless society, how does that change people’s perception of money?

I think that while technology has made things much more convenient, it has definitely made it easier to spend more than you intend (a fact my girls know way too much about!). As a result, I think it would be fair to say that the general perception of money has lessened over the years.

3. One of the challenges that many families have in Australia is one of talking about money; talking about how much, where does it go, how much will be left when we pass away. Why is that?

We generally find that for most people, it’s a tough conversation as you need to deal with the fact your loved ones aren’t bulletproof. This often means you are confronted with thoughts or feelings you’d rather leave for another time.

4. What is your advice to anyone who is working whether they be in their 30’s or 60’s about seeking professional advice?

It’s never too early to start, and the sooner you do, the better off you will be. Also, you’ll have greater confidence that you’ll hit the targets that are most important to you as well as avoid some of the common mistakes many others make. Another misconception is that you need to be ‘rich’ to see a financial adviser. This is definitely not the case.

5. What should parents be talking about with their grown-up children when it comes to their financials?

Apart from moving out of home before age 30 [something I’m afraid my children won’t do!] – Complete a budget, protect what you’re building and set goals that are important to you. Once you document targets, you have a much higher probability of achieving them.

6. What are the typical money mistakes you see people in their 30’s and 40’s make?

Overspending and not prioritising the things that are most important to them over short-term ‘exciting’ purchases.

7. When it comes to investing or any fund performance, what is important to remember?

What is the purpose of the investment and the specific reason it is in place for? Don’t get caught up with what others are doing or chase returns. Avoid get rich quick or too good to be true promises!

8. What advice will you give to your children about what’s important to focus on when it comes to money, career and health?

Stay active, pursue things you enjoy, holiday regularly and set goals to measure your financial success against

9. What’s the best piece of advice you have been given which you still value today?

My Dad always used to say, son nobody likes a smart-arse, and why are all the bloody lights on? Not sure if they have much to do with financial advice, but I definitely think the underlying messages are important 😊

For even more information about Brad, please click here.