Invest in Hindsight

Don't wait until it is too late!

It is impossible to predict the future – yet despite that we all wish at one time or another that we possessed the skill of hindsight.

If you are of the belief that you don’t currently need the help of a risk specialist, let us remind you that the people constructing the Titanic, also ignored the advice of good planning and risk mitigation.

Personal ServicesWhen it set sail on its maiden voyage, the world’s greatest liner was thought to be unsinkable, it was bigger and stronger than any before. For this reason, the White Star Line decided to cut costs and only provide 20 lifeboats, despite the plans stipulating 48. After all, Titanic was unsinkable, what need did White Star Lines or the on board passengers really have for the lifeboats.

Sadly we all know how the story ended. The lifeboats on board were only capable of carrying and saving at most 52 per cent of the passengers and crew. Hindsight – a wonderful gift… right? Of course, in this case White Star lines didn’t really need hindsight – did they? They needed careful planning and risk mitigation, and an understanding of the statistics and potential outcomes of their decisions. All of which they had... and chose to ignore.

How often do we choose to ignore the obvious?
How often do you hear alarming statistics like 1 in 2 Australians will be diagnosed with a form of cancer in their lifetime? And how often do you think that you won’t be the one to be the statistic?

Is this train of thought making you uncomfortable – it should. But because it does, we normally tend to suppress it or ignore it.

Remember, it is only in the minutes before you really need it that you are going to give thought to the lifeboats. So let someone else think about them for you, invest in hindsight, and be FutureSure.

Richard Ayre Consultancy Pty Ltd trading as FutureSure Risk Management and Estate Planning is a Corporate Authorised Representative of Financial Services Partners PTY Ltd ABN 15 089 512 587 | Copyright (C) 2016 Australian Financial Services Licensee 237590