"Sonnie talks money" - Things I want family and friends (and others) to know

In this "Sonnie talks money" edition of the NZ Wealth and Risk podcast, Sonnie runs through a number of key messages when it comes to building and protecting financial wealth. He covers:

  • the importance of savings rate
  • the fact that you won't save in a linear fashion
  • investing - don't try to beat the market; make sure the market doesn't beat you
  • investing - make investing boring, and the rest of your life interesting
  • risks involved with property investment
  • KiwiSaver and free money
  • insurance for managing catastrophic risks
  • not being over-insured
  • risks you can't insure against such as career risk
  • ensuring the interests of professional advisers are aligned with yours; the value of asking questions and seeking second opinions
  • remembering that "wealth" isn't all about money.

Sonnie Bailey

Sonnie is the founder and principal of Fairhaven Wealth.

Before founding Fairhaven Wealth, Sonnie worked in the legal and financial services industries for over a decade.

Sonnie first became involved with financial advice as a specialist financial services lawyer. For many years, he was an “adviser of advisers”, reviewing thousands of advice files prepared by hundreds of financial advisers, and providing feedback in relation to the quality and appropriateness of advice; industry best practice; risk management; and regulatory compliance. He has published work in industry publications and spoken at various financial advice conferences.

Sonnie has also worked with banks, investment management firms, insurers, and derivatives providers.

Sonnie has worked as a private client lawyer, focusing on succession, estate planning and trusts. He ran his own legal firm in Australia before relocating to New Zealand. He has also acted in independent trustee and company director positions.

Sonnie is passionate about helping people achieve their goals and manage the risks to which they are exposed.

He has written extensively on his blog, New Zealand Wealth and Risk, which can be found at www.wealthandrisk.nz.

Sonnie is married to his wonderful wife Chrissy, and has two young children, Ben and Anna.