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Batsman celebrates with Aussie wine

Source: The Times Online - July 31, 2005

Australian cricketer Adam Gilchrist enjoys a good bottle — especially one from his country’s vineyards.

AUSTRALIA’s Adam Gilchrist, 33, is a pivotal member of the team that put paid to England’s dreams in the first Test match this month.

The only wicketkeeper in Australia to have captained both the Australian Test and One Day teams, Gilchrist is also a devoted husband and father who usually lives in Perth, Western Australia, with his wife, Mel, and children Harry, 3, and Annie, 11 months.

This year, along with the rest of the team and his family, he is spending most of the summer in Britain for the Test series.

Born in Bellingen, New South Wales, Gilchrist made his international debut with the Australian One Day side in 1996, before being elevated to opening batsman in 1998. He has since scored more than 6,000 runs in One Day Internationals and 3,000 in Test matches.

How much money do you have in your wallet?
I think there’s about £60 in there. I’ve never been one to carry masses of cash, but it’s a good idea to have a bit on me in case my son, Harry, wants a milkshake or an ice cream.

Do you have any credit cards?
I have two, which I use to pay hotel bills and for impulse purchases. Because I travel so much, I also find my Co-op Travel Card, which is like a plastic form of traveller’s cheques, very useful.

Are you a saver or a spender?
I probably lean towards being a saver, although I’m not against spending if there’s something I want. Mel and I tend to think that because we have to spend so much time apart and are fortunate to earn reasonable money, we should be able to treat ourselves to a nice dinner with good wines when we are together.

How much did you earn last year?
I don’t know the exact amount. My earnings are broken down into the salary I get through my retaining contract with Cricket Australia, the money I earn for playing in specific matches and promotional income.
Match payments range from about A$4,500 (£1,960) for a one-day game to A$13,000 for an overseas Test match. However, fortunately for me, I now earn slightly more off the field through promotional work and personal endorsements. My sponsors include Puma, Nestlé, Castrol and Travelex, where I’m a non-executive director.

Have you ever been really hard up?
Yes. Mel and I have been together since we were at school and whenever we’re out in a nice restaurant we remember how broke we were when we left school, Mel was studying and I was trying to break into first-class cricket.
We were living in Sydney at the time and I was working as a bank teller for three hours during the day, then training and then stacking shelves in a supermarket, just to make ends meet.
We were lucky in that we had supportive parents, but I think they also wanted us to realise that you have to earn money.

What is the most lucrative work you have ever done?
I continue to be amazed at the amounts businesses will pay sportsmen to make appearances and entertain clients. However, I was even more amazed the first time I was asked to make an appearance of that kind.
It was in 1996, when I was only on the edge of international cricket, and a local firm offered me A$3,000 to appear at a corporate sports day. It’s not that much compared with some of the fees nowadays, but it was a lot of money to me at the time. I half expected someone with a camera to pop out and tell me it was all a joke.

Do you own a property?
Mel and I own our family home in Perth. It’s a four-bedroom, two-bathroom place, which is fairly typical for Australia.
We’re also fortunate enough to have a holiday home in the Margaret River region, in the southwest of Western Australia. It’s a beautiful coastal area, surrounded by vineyards, so you have the beach and the wine.

Do you invest in shares?
I have only a small amount in shares at the moment. I prefer property, as I can see my assets.
I have recently started investing in commercial property in Brisbane and Sydney. However, my accountant has been encouraging me to look at shares as well, and I’m dabbling a bit now.

Do you have a pension or other retirement plan?
I have a superannuation fund. Most of the investments Mel and I make are designed to make sure we’re comfortable in the long run. With cricket, as with most sports, you don’t tend to have a very long career, so you need to set up a structure that will offer long-term returns.

Do you believe pensions are a good thing?
I believe that the type of saving you do is a personal choice. Once you have someone you can trust advising you, it all becomes much easier.

What has been your worst investment?
My first car, which I bought in 1990, was probably both my worst and best investment. I borrowed A$1,000 from my grandfather to buy it, and at the time I thought it was the best thing in the world. Then it blew up and the repairs cost me A$2,000.

Do you manage your own financial affairs?
I met my accountant through my manager. I trusted his recommendation because I’ve known him for about 10 years and he’s one of my best friends. I used to have another firm of accountants but was not happy with it.

What aspect of the Australian tax system would you change?
If you asked the average Australian man whether we pay too much tax, I’m sure the answer would be yes. But we get a lot of benefits as a result of the tax we pay and I don’t think I’m really in a position to advise the prime minister about how the system should change.

What is your financial priority?
To have enough money to give my family a pleasant standard of living. My children are not of school age yet, and we haven’t decided whether to educate them publicly or privately, but that could end up costing a lot of money. I just want to make sure that I’ve got the financial ability to offer my family the best opportunities in life.

Do you have a particular money weakness?
Wine is my main weakness. I’m not an expert, but I do love wine, and I don’t mind spending a bit extra to get a nice bottle. I mostly like Australian wines best, but then I suppose I’m probably biased.

What is the most extravagant thing you have ever bought?
It’s probably our holiday home in Margaret River — especially as we had to stretch ourselves quite a bit to afford it at the time. Luckily, things have gone well for us since, but it was a bit of a risk.
The property may well have gone up in value since we bought it, but that’s not really the point. We love it so much there and hope it will stay in the family for ever.
I love to think that our children could be taking their families there one day.

Do you play the lottery? What if you won?
I don’t play the lottery. There’s no real reason why I don’t, except maybe that I’m away so much.
However, if I did play and won the jackpot, I would probably use the money to help out other family members by maybe clearing their debts or whatever. It’s not that anyone’s in financial strife or anything, it would just be nice to give them a little surprise.

What is the most important lesson you have learnt about money?
It’s very important to make sure that your financial affairs are in safe hands.
Having some problems in that area in the past has definitely made me more careful and taught me that you should always take at least a bit of an interest in your affairs — even if you trust the people you’re dealing with.
Both Mel and I ask a lot more questions when we meet up with our accountant now. It’s good to know why you’re being advised to do something, rather than just going along with it.

- JESSICA BROWN