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.
In the previous blog, we looked at the ‘profit first’ theory which is the same as ‘paying yourself first’. This means putting money into your superannuation fund from your pay check before you spend money on anything else.
In this blog, we discuss one of the theories from a book called Profit First by Michael Michalowicz. We decided to base a podcast around this because many of its principles can be adapted at a household level. In financial terms, the ‘old way of thinking’ is discussed in the book, which is referring to the formula ‘the revenue of a business minus the expenses equals its profit.'
We received another listener question today, from a small business owner called Kerry. Kerry is in her early 60s and, like many in her situation, she is close to retirement but only has a small amount of money in her super. Her husband is not able to work, so they rely solely on her income.
Dallas Davison, Michael Hogue and Ali Hogue.
Money Over 50 Financial Advisers
Tel 07 4772 0938
45 Ingham Road West End Townsville Qld 4810
Money Over 50 Financial Advisers Pty Ltd ABN 26 146 225 505, 45 Ingham Road, West End Queensland 4810 is the holder of an ASIC Australian Financial Services Licence (AFSL) #471826.
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