If you sell a dud investment property, you may have to pay capital gain tax (CGT), selling costs and then stamp duty again when you reinvest… it can be a very expensive exercise! And if you have owned the property for a while, it is probably putting money in your pocket each month (i.e. more …
I have written about the importance of considering both investment risk and returns when assessing the viability of an investment. In fact, the world’s best investors tend to have a very low tolerance for risk – they only invest in ‘sure things’. In my experience, novice investors can talk themselves into believing that an investment …
Parents always want their children to have the best education. For some people, that means sending their kids to a private school. Of course, private schooling can be expensive and can have a big impact on your cash flow. But I’d like to suggest that the ‘cost’ is a lot more than the initial cash …
Our core goal at ProSolution is to exceed our client’s expectations in the quality of advice that we provide. Of course, our fees need to be competitive and fair, our service caring and attentive but it’s the quality of the advice we give that we must continually improve. Why is quality so important? Quality financial …
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 …
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