In our 88th podcast, we made a statement about how you can turn $100 a week into $100,000 over 10 years by making voluntary contributions to your superannuation. The trick for most people, of course, is to find that sum of money each week and make sure they put it away.
How should you give money to your kids? So, if you’ve made the decision to help them out, the question now is how to go about it so that it’s a positive experience for both parties.
Often, our clients tell us stories about how they used to get by on very small amounts of money when they were younger, and their struggles of getting ‘set up’ for life. We love hearing the stories of the run-down apartments, $2-meals and dodgy old cars. But we’ve noticed a pattern with some of these clients. They recognise and understand the value of ‘doing it tough’, but they find it really difficult to watch their children go through the same thing.
What do we mean by that? We mean that people in general have difficulty saying “no” to events. And not only that, they feel compelled to give a reason when they do.
That title got your attention, didn’t it?
You’re either pessimistic, or keen to learn how. Well, it’s actually not that difficult. We assume that most, if not all of our listeners have a small amount of money that they could put aside each week. For this particular scenario, we’re going to use $100 as an example.
“Should we get out now and come back in when things settle down?” is a question that usually finds its way into investment conversations when the value of one’s investment has dropped.
You’ve spent what seems like a lifetime getting your dream home, and retirement is creeping up fast. You have put the absolute bare minimum contributions into your superannuation, but it doesn’t matter because you own your house and your house is your super. Right?
My parents have always said to me, they plan to spend their last dollar on the day they die.
Before I was their financial adviser, I didn’t give this much thought.
Most people intellectually understand inflation, but not emotionally.
I often hear people say they received a pay rise but when I dig deeper I find out it was by 2-3%.
Practical examples of how a good financial adviser can help everyday people to retire in financial comfort.
John had woken that morning to find that it was finally here… the day had come… he had turned 55. It suddenly dawned on John, a sales rep, that he had exactly 10 years to ‘make hay’ before his planned retirement at age 65. Paid on a monthly basis, this equated to only 120 remaining pay cheques for the rest of his working life before he was on his own. John’s wife Judy, a nurse, was 2 years his junior but planned to retire at the same time as John in 10 years.
Dallas Davison, Michael Hogue and Ali Hogue.