If you have insurance within your super fund you may be paying for cover that you’ll never actually benefit from. It has recently come to light that some industry super funds have offset clauses with Life insurance (and other products). This is best explained by example. Assume David has $300,000 of Life insurance with AustralianSuper …
I received an email from a client (dentist, Dr Michael – surname withheld) approximately a month ago suggesting that I write an article about how much financial knowledge you need. Should you endeavour to know as much as you can so you don’t need any advisors or should you have a little bit of knowledge …
Upgrading your home is typically a huge financial decision. Sometimes, timing is everything. There are lots of issues to weigh up including lifestyle needs, cash flow, future changes to income, the quality of the properties for sale on the market, the health of the property market and the list goes on. Another complexity is that …
I ate a mandarin recently and got annoyed at the number of pips in my fruit (an average of 3 pips per segment…that’s a lot of pips). I wondered how much more enjoyable that mandarin would have been had it not had any pips. It struck me later that those pips, those little seeds, are …
Firstly, I have to warn you that this newsletter diverges from the traditional financial topics that I usually write about. My advice is to read this newsletter with an open mind and be prepared for something different. I had the pleasure of recently seeing Shawn Achor, a Harvard-trained researcher and an expert in happiness and …
It’s the year 2022 (September). Collingwood has won 3 premierships in a row and are looking good for a fourth. Geelong hasn’t made the eight in 7 years. I am considering using Grecian 2000. Stuart is hosting The Apprentice and the number one news item that night is that the stock market just made a …
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! …
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