Tom Dearden

Tom approached Galaxy Sport directly for a financial health check after speaking with several of his Cowboys teammates who were already clients. Previously, while playing for the Brisbane Broncos, he had relied on a highly regarded financial planning firm, paying a substantial annual fee for investment advice. However, a thorough assessment of his spending habits revealed that although he received decent investment advice, it held little value as his spending habits were erratic at best, he was enjoying life and spending freely and without any thought to savings.

The first step was to help Tom understand the consequences of his inconsistent financial behaviour over a prolonged period. We assessed his potential earnings post-career, determining what he could qualify for, and then worked with his agent and the club to initiate payroll diversion. This involved diverting a portion of his salary into an account inaccessible via an app on his phone, effectively establishing a forced savings plan. By living off a regular wage like his non-footballer friends, he eliminated the option to recklessly spend large sums during downtime. This approach also prepared him for an easier transition after his playing days, as he became accustomed to living a more typical life within society.

Within less than nine months of our initial meeting, Tom went from having no savings to accumulating $70,000. Payroll diversion proved to be the catalyst for his improved financial wellbeing. He no longer experiences the emotional rollercoaster associated with his past spending habits and feels much more at ease, without worries about his finances. He is well on his way to securing his financial future.

A straightforward financial strategy has transformed Tom's financial trajectory. He now possesses a clearer understanding of his own finances, allowing him to focus more on his career. This increased focus is evident in his exceptional on-field performance, leading to significant recognition and representative honors.