Spending is easy and fun. It gives you an immediate hit of pleasure (the chemical dopamine). The problem is that it never lasts. That’s the difference between pleasure and happiness – happiness tends to last longer. To add to this, we know that we should curtail spending as much as possible, so we can save/invest …
Each year, we write an update to this article – see here. It is very important to minimise investment fees and I have written about this previously. However, it is equally (sometimes more) important to ensure you invest in such a way that positions you to enjoy superior returns. I believe that you can do …
Last week the Prime Minister announced that the “Government will establish a Royal Commission into the alleged misconduct of Australia’s banks and other financial services entities”. You might think this is good news, but I expect that this will be yet another waste of taxpayers’ money (and time). The role of banks has changed significantly …
The ultimate aim of investing is to build wealth. Current and future tax liabilities can have a significant impact on your ability to build wealth. Simply put, the less tax you pay, the more money you keep for yourself. Therefore, taxation is a major consideration. That said, tax consequences should never drive investment decisions alone. …
Quality professional advice almost always pays for itself. That is, a good lawyer will help you reduce risk or save money. An astute accountant will help you minimise the tax you pay. A reputable financial planner will make your money work very hard for you. Assuming the professional advice is of a high standard, the …
How do you identify the best superannuation fund or managed fund? It would seem logical to compare the net investment returns (after fees) over various periods of time and select the one that has produced the best results. But you would be wrong. This approach will not necessarily identify the funds that will produce the …
From time to time, parents ask me for advice on the best vehicle to accumulate savings for the children. The intention of this blog is to give you a summary of your options and to let you know which option I think is the best. Savings, gifts, inheritance and the like Sometimes parents would like …
When faced with financial decisions or questions it is often an instinctive reaction to jump straight to trying to figure out what is the correct answer. However, I’d like to suggest that a better approach is to ask yourself “who” rather than “what”. That is, who is the best person that can help me answer …
Many people invest their super with industry super funds because they feel its the best (low cost, good returns) and simplest option. I agree that industry funds are almost always a better option than retail (bank owned such as Colonial, BT, AMP, MLC, OnePath, etc.) funds and often better than SMSF’s too. However, I …
Below is a recording of a webinar hosted by Wakelin Property Advisory and us on 13 September 2017. Jarrod and I provided an update on what’s been happening in the property market, tax changes and planning, an update on the mortgage market, an analysis of the recent super changes and we answered plenty of questions. …
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