We Take Care of it All, While You Can Enjoy Your Financial Freedom (of course you don’t want to go to your rectal examination)
Please excuse us for this title – but we are hoping to paint a picture in your head. The thing is, nobody wants to go to their rectal examination. And that’s what this blog is about. For some people, talking about finances is on par with a rectal examination in terms of their enthusiasm.
Today, we look at the interplay between hard work and good work. We have a saying here at Money Over 50: with your hard work and our good work, we can achieve great things.
Many of our new clients come to us with around $700,000 in assets and about ten years left of their working lives. Their goal is to make sure they have enough money in order to live a good lifestyle during retirement. The first question we ask them is: how much money do you spend now? This is important, because we find that nobody wants to downgrade their lifestyle once they retire. So, to know what you need in retirement, first work out what you need right now.
Imagine you are driving your 1999 Toyota Corolla and you pull up at the traffic lights next to a brand new Dodge Ram. You look up at the driver who is grinning at you from their shiny new vehicle, and you feel… jealous? Poor? Left behind? Well, you shouldn’t – and here’s why
There is a classic saying that comes from one of our favourite characters, Yoda, in the Star Wars series. The wise old Jedi Master says to Luke Skywalker: do or do not; there is no try. In other words: fully commit, or be prepared to fail. We actually love this saying, because in many ways it can be adapted to our financial mindset, too; and the idea of fully committing to an action.
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.
Retirement sounds great, no more work, and the freedom to do whatever you want. But why do we sometimes fear what is yet to come?
Building a successful business doesn’t happen overnight.
A successful business is a product of dedication, sacrifice, humility and hard graft.
After years of investing a great deal of time and energy into your business it’s fair to assume it will be worth something when you decide to hang up your boots.
Or will it?
Often people invest based on a prediction the price of their chosen asset will eventually rise.
This must be the case, otherwise they’d just wait until the price drops to buy.
Their predictions are usually based on a range of information sources, some credible, some not.
But is it possible this information is already factored into the price?
Lighthouse Financial Advisers Townsville and Maria Pandalai from TravelManagers have teamed up to provide you with the information that you need to start planning for your dream holiday.
Dallas Davison, Michael Hogue and Ali Hogue.