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.
The old-fashioned method of payment of cash has become a thing of the past for most people.
But cash can be used as a great tool to cap your spending on certain discretionary expenses and not blow your budget out of the water.
There is a common belief that in retirement you should have moved all your super into cash and defensive assets (such as fixed interest), but it really depends on your current situation.
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?
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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