Wayne Bemet: The five biggest financial mistakes ADF and frontline workers are making

Australian Defence Force members and frontline workers are among the most disciplined, resilient and dedicated professionals in the country yet according to veteran advocate and financial specialist Wayne Bemet, many are making critical financial mistakes that can permanently derail their future.

Bemet said the issue isn't recklessness it's misplaced trust, lack of information and decisions made under pressure. He is seeing far too many veterans, police, fire fighters, paramedics and other health workers who have blindly trusted the financial information and superannuation services being provided to them by government and other employers.

He is warning veterans and other frontline workers to be more proactive and ask more questions and seek out independent help in relation to their superannuation and finances. 

"These aren't bad decisions," Bemet said.

"They're decisions made without full visibility and the consequences can be life-changing."

Bemet has outlined the most common mistakes he is seeing people make across the country in relation to their super and financial circumstances. 

Mistake one: assuming employer schemes are 'set and forget'

Many ADF members and frontline workers assume their employer-backed superannuation, insurance and benefit schemes are automatically the best option for their long-term future.

"That assumption alone can cost people hundreds of thousands of dollars over a lifetime," Bemet said.

"Employer schemes are designed for scale, not personal circumstance."

He said few people regularly review whether their cover still suits their role, health or family situation, especially after injury or role changes.

Mistake two: failing to plan for sudden career-ending events

Military and frontline careers carry higher risk of injury, trauma and sudden discharge, yet many people plan financially as though their career will run uninterrupted to retirement.

"Medical discharge is rarely planned," Bemet said.

"When it happens, people are financially unprepared because they never believed it would happen to them."

He said failing to plan for the possibility of abrupt career change leaves families exposed at their most vulnerable moment.

Mistake three: not fully understanding entitlements and benefits

Bemet said many members are entitled to significant financial support but never access it properly.

"Superannuation, insurance, compensation, income protection and long-term benefits are often misunderstood or overlooked entirely," he said.

"If you don't know what you're entitled to, you can't protect yourself."

He said complexity, fatigue and trauma often prevent people from engaging with systems early enough. They also believe everything will be ok and their employer will take care of things.

"This is a terrible is misconception," Bemet added. 

Mistake four: making financial decisions while overwhelmed or unwell

One of the most dangerous moments for decision-making, Bemet warned, is immediately after injury, diagnosis or discharge.

"People are exhausted, medicated, stressed and emotionally raw," he said.

"That is not the time to be signing documents, rolling over super or cancelling cover."

Decisions made during crisis can lock people into poor financial outcomes for decades.

Mistake five: trying to handle everything alone

Military and frontline culture often rewards self-reliance but Bemet said this mindset becomes a liability during transition.

"People think they should be able to manage it themselves," he said.

"Unfortunately, the systems are complex, fragmented and unforgiving."

He said many veterans and frontline workers delay seeking help until financial stress compounds health issues.

The hidden cost of these mistakes

Bemet warned that financial stress directly impacts recovery, mental health and family stability.

"When people don't know how they'll pay their bills or support their family, healing slows," he said.

"Financial uncertainty magnifies trauma."

He said early, specialist guidance can dramatically change outcomes.

"Clarity restores control," Bemet said.

"When people understand their position, the pressure lifts and they can focus on rebuilding."

A message to ADF and frontline workers

Bemet's message is direct.

"You are not expected to know this and you are not weak for asking for help," he said.

He urged ADF members and frontline workers to proactively review their financial position especially those facing injury, burnout or career transition.

"The biggest risk isn't change," Bemet said.

"It's not being prepared for it. Your service has value and your future deserves protection."

About National Service Financial

National Service Financial is a veteran-founded financial advisory firm dedicated to supporting current and former Australian Defence Force members through personalised financial planning, transition guidance and long-term wealth strategies. Founded by Wayne Bemet, a medically discharged veteran, the business brings lived experience to every client relationship. With a deep understanding of military life and the challenges of civilian transition, National Service Financial helps clients regain control, clarity and confidence. Now operating nationally, the firm also supports high-performing civilian professionals seeking structured, strategic financial advice delivered with integrity.  Since leaving the ADF, Wayne has expanded his experience and expertise in financial management through study.  He is also undertaking a Masters in Applied Finance with the Griffith University, Griffith School of Business.  This year he was appointed to the VetX Board as Treasurer, where he will play a key role in strengthening VetX's capabilities to empower veteran entrepreneurs nationwide.  Learn more at www.nationalservicefinancial.com.au.

Wayne and his team's mission is to:  help our mates in need, discover life after service and give back to a community that has given us such wonderful experiences and opportunities in life.