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To navigate through life, we often need counsel. Someone who knows more than us. Kylie Parker is one of those individuals, she takes everything into account.
If you’re lucky you have a doctor, a lawyer and an accountant who not only provide a first class professional service but are also the source of wise counsel on matters of everyday living.
Their extensive involvement in people’s lives can often contribute an extra dimension to the advice they give clients.
Accountants not only relieve us of the tortuous task of completing tax returns but also sometimes manage to extract tax refunds on our behalf and act as a reassuring firewall between us and the taxation authorities.
Paddy was fortunate enough to have an accountant who in addition played a critical role in helping him reset the direction of his life.
At forty he was content. He had a successful business, a full-on social life and looked forward to a future exploring the limits of where that might take him.
However life suddenly took a different turn when Paddy and his partner of a few months received the delightful news that they were pregnant. He immediately applied the brakes and pulled over for a rethink about future directions.
As a result, he and his partner decided to make the adjustments needed to build a strong family life together, or in other words a Plan B.
Also on The Big Smoke
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Paddy sought guidance from his accountant, Kylie Parker. She is the managing partner of Lotus Accountants and that makes her one of the few female heads of a Chartered Accounting firm in Australia. Furthermore, she wrote Planning Plan B, the standard textbook on how to insulate your life from unfortunate consequences when the unexpected or unthinkable happens like it often does.
She wrote it as a result of getting her own life back on track after a series of devastating setbacks in the hope it would influence others to take the pre-emptive steps necessary to minimise fallout.
Rarely does life run its course completely according to a Plan A. Kylie’s book explains how to have your Plan B ready just in case and how to transition to it as seamlessly as possible when the time comes.
Paddy recalls that talking to Kylie about replanning his finances led him to read her book and then to further discussions about preparing a comprehensive Plan B.
As a result he replanned his business and investment structure and moved to comprehensive health insurance plans that included the baby.
Kylie strongly encouraged Paddy to take out income protection insurance as well as comprehensive cover for his business, and referred him to an independent business broker with strong links to an independent business network.
In addition she insisted that he do everything possible to future-proof his child and family against any misfortune that life might bring.
Paddy sees Kylie as a one-stop-shop not only for financial services but also for Plan B guidance and implementation.
He claims she’s the number one expert at keeping life on track and also getting it back on once it’s come off. And there’s no more convincing evidence of that than her own inspiring story.
Kylie is adamant that the need for a Plan B doesn’t mean that you shouldn’t start out with a super positive Plan A. She contends rather that a Plan A should always comprise a contingency Plan B.
All those who believe there’s no accounting for the disasters that can befall you in life would benefit enormously from Kylie’s advice.