Stuart Wemyss Small businesses are described as the backbone of the Australian economy – making up 96 per cent of the Australian economy, employing over 4.5 million people and producing $330 billion of Australia’s economic output per year. The Government has finally reduced the red tape burden for small businesses, providing certain concessions for those who qualify …
Most share investors repeat the same mistakes. There are probably only four simple mistakes that nearly every novice investor I meet makes. The shame is that these mistakes are so easy to avoid. When I meet a client that has invested in a direct share portfolio (either personally or in a SMSF), this is what …
It seems that almost weekly a media outlet runs a story about the ‘so-called’ housing affordability crisis in Australia. The most recent segment I watched on TV this week suggested that Sydney is the second most expensive city in the world behind Hong Kong… really? Have they been to New York and Paris? Buying a …
Many SMSF members are paying exorbitantly high fees and they don’t even know it. So if you run your own SMSF, taking 2 minutes to read this blog could save you a lot of money. I was reviewing a new client’s SMSF recently that held approximately $700,000 of investment. It was managed by a high …
This blog sets out why we choose to do the work we do at ProSolution Private Clients i.e. what drives and motivates us. I hate to see people being ripped off by selfish advisors! We have all read the stories in the newspaper. Investors put their trust in a “financial advisor” because they work for …
It’s tough to make predictions, especially about the future – Yogi Berra Quite often we think a complex problem requires a complex solution but often that’s not the case. “What should I do with my money now so that I can enjoy a comfortable retirement?” seems like a complex question to answer. There are so …
We tend to take a very long term approach when contemplating many important life decisions such as choosing a spouse, starting a family, education, choosing a career and so on. However, when it comes to money and investing, many people tend to think too short term. One of my favourite quotes is from Howard Schultz …
An investment property should be selected based on the likelihood of it generating strong capital growth rather than secondary benefits such as rental yield or negative gearing. However, saying that, this doesn’t mean we shouldn’t maximise the gearing benefits of your current or future investment property to save on tax! So, if you’re looking to …
With the recent hikes in fixed and variable rates by the major banks recently (refer to last week’s blog), we have been having lots of conversations with clients about whether it’s a good idea to fix your interest rate. Below are 11 points for you to consider when contemplating the fixed versus variable dilemma: Will …
This week, three out of the four major banks increased 5 year fixed rates by a significant amount (around 0.80% p.a.) without any warning. The banks used to give mortgage brokers and branch staff a few weeks’ notice before they increased fixed rates. This allowed us time to let clients know and give them the …
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