So, what is ‘the give-up, get-back ratio’? Another way to phrase it is: what can I give up today to get back something better later on? You guessed it – we’re talking about investing your money. And with your money in the right place, it will grow yearly (assuming you don’t withdraw from it) and eventually, you will get back much more than you put in.
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There’s no such thing as a free lunch. An oldie but a goodie – especially when it comes to tax deductions. Often you hear people justify buying a product or service because it’s a ‘tax write-off’ – and while that may be true, it still comes at an expense. So while the purchase might reduce your taxable income, the funds to purchase still have to come from somewhere. And that somewhere is your (or your company’s) pocket.
First of all, thank you to Mike for listening to our podcast, and for sending us your question. We really enjoyed preparing for this complex podcast and we dug deep to analyse the facts and figures associated with it.
One of the biggest fears our clients have is that despite working hard to save their desired $1.5 million for retirement, they will lose that amount in a GFC-type scenario.
We recently attended a 3-day business course about diversity and how it affects decision-making. But before we explain the relationship between those two, let’s look at a different relationship: that of a young Michael Hogue, back in 2011, when he was courting his now-wife Suzie.
Being liquid describes how quickly someone is able to get to their cash. When we talk about the risk to liquidity, we mean any instance where the investor can’t buy or sell an investment as and when desired. In other words, they are unable to access cash when they need to.
We continue with our frequently asked questions today, and this is a fairly timely question as we recently got a new name as part of our rebranding last year; Lighthouse Financial Advisers became Money Over 50 Financial Advisers.
This is a question we get asked a lot. When we talk about ‘product’, we mean any product or service that we recommend when we meet with our clients: superannuation funds, super income streams, account-based pensions, investments and so on. But the simple answer is no – we do not.
Like any kind of risk associated with money, thinking about volatility can be daunting. But what we always say is that you can never entirely get rid of any risk; you can only shift it.
Dallas Davison, Michael Hogue and Ali Hogue.