Stuart Wemyss Doing some reading recently, I came across US Congressional Budget Office (CBO) forecasts made in 2002 for the US economy in 2012 (a ten year time horizon). Now you would think that an economy is equivalent to a very large “tanker”. It doesn’t move much. Growth rates don’t vary much over time, there are cycles, …
Over the last couple of weeks, I have been helping a number of clients (that use an array of different lenders) as their interest only repayment periods were approaching expiry (an interest only term is typically only used with investment loans and allows the borrower to only repay interest, not principal). Most lenders structure their …
One of my favourite sayings following the GFC was ‘when the tide goes out you can see who is not wearing swim shorts’; another great metaphor we can thank Warren Buffet for. In fact I think he prefaced this with ‘the rising tide lifts all boats’; equally true. Back in 2005 everyone was making money, …
Recently, I spent a day listening to many of the technicalities around estate planning. Kate, the presenter, called the will the “last financial plan”. It’s a great term. Most people spend their life developing plans to create wealth, yet on death few consider the correct way to distribute their wealth. Simply, there is no plan! …
Absolutely everything! Many people get excited about doing projections and seeing their wealth rise exponentially over the years on paper. Use a higher projection rate you get a steeper graph and a better result. It’s exciting stuff! Start to talk about risks and managing them, and it is human nature to start to “glaze over”. …
My passion for the financial services industry started very early in my career while auditing some large credit unions as a graduate accountant. When I moved to work for two of the big 4 Chartered Accounting firms (not at the same time of course) I ensured that I was working on as many financial services …
This week the Federal Government will launch a new initiative and resources to help primary school teachers deliver financial education programmes in schools. Here’s a link to the website: http://teaching.moneysmart.gov.au/ Robert Kiyosaki’s book ‘Rich Dad, Poor Dad’ aptly posed the dilemma of his highly educated father who nonetheless had no financial education and consequently struggled …
“Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street.” Vividly I can recall the dot com boom when technology related companies showed no or little profit and yet were being valued at astronomical prices. It was called a new era when valuations did not matter. Investors seemed to put …
Sometimes we stare so long at a door that is closing that we see too late the one that is open,” Alexander Graham Bell In 1979 there was a Business Week magazine cover titled “the Death of Equities”. This came after a 13 year sideways market in the United States. Though the market went sideways …
It’s the start of the new tax year and we’ve noticed a rush from clients to get their 2012 tax returns done – and why not, if you’re expecting a refund (like many property investors will be), it’s simply good cash flow management to not delay the trip to your accountant. In the credit markets, …
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