When Dallas was younger, he was a keen martial arts student. After each fight, his coach would give him a Post-It note with three things on it that he needed to fix. These three points helped Dallas focus on what he needed to start working on. According to Dallas, he probably had a lot more than three things to work on, but the coach was adamant on only giving Dallas three at a time.
Michael’s son had his first day of school this year. In the week leading up to it, he was incredibly anxious about his first day – it was almost challenging to even get him into the car! But the afternoon told a different story, when he came home with a grin from ear to ear and spent the rest of the afternoon talking about how much fun school was. Life brings us many challenges – but Richie had conquered his fear.
Whenever we tell people we’re financial advisers, the first question we get asked is ‘what is a good investment?’ or ‘what should I invest my money in?
In the previous podcast we discussed ‘bolting it all together’ while you are still working – meaning getting everything in order financially before you retire. We gave the example of a couple who earn $90,000 each in the final 10 years of their working lives, and their ability to claim $113, 505 in personal tax returns if they make voluntary super contributions in that time. If we subtract the 15% earnings tax from this, it would leave a benefit of $64,155. There are other benefits the couple could tap into while they are working, such as spouse contribution and government co-contribution. There are many small things you can do while you work to chip away at growing a larger amount of money for your retirement.
We often discuss owning the great companies of Australia and the world and how it benefits you in retirement. Today, we look at some things you can do while you are still working.
January tends to be an interesting month. The hangover of drinking, eating, and spending too much wears off, and we start to try to make changes that we would like to see happen throughout the year. Whether it’s a new years resolution, or the realisation that another year has come and gone and not much has changed, there are 2 major goals that people tend to focus on in the new year: health, and wealth.
At Lighthouse Financial Advisers we help people over 50 retire with confidence.
Financial Advisers Dallas Davison and Michael Hogue join Kylie Hatfield and Ali Hogue in providing professional, friendly service in a relaxed and comfortable environment. Our approach to financial planning doesn't change if you were to live in a separate town to Townsville, such as Mount Isa, only the communication channel may change.
Dallas Davison, Michael Hogue and Ali Hogue.