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Around this day ten years ago, you probably had plans in place for the year ahead.
Maybe you even achieved some of those goals in 2010. But I’m guessing that you could never have planned for some of the unexpected events, opportunities, twists and turns of the decade you’ve just lived. Take me for example. A routine task for financial journalists at this time of year is to write a summary of the year in markets and to survey economists on their expectations for the coming year. These so-called ‘year-enders’ are worth revisiting 12 months on.
Ask a farmer about average rainfall and he’s likely to react sceptically. Knowing how actual rainfall varies from year to year, farmers carefully manage their crops and irrigation. It’s a lesson many investors could learn as well, with published ‘average’ returns masking a wide range of possible outcomes.
Ever wondered how your investments are going compared to everyone else?
Well maybe you should. Not only will this FREE resource tell you how the markets are performing, but also how well you (or your adviser), are performing. The lure of trying to time the market may tempt even long-term investors. But outguessing markets isn’t as straightforward as it sounds.
The financial services industry is getting a fair shake up at the moment. It’s not just because of the Royal Commission either. The Federal Government has been looking to raise ethical standards for quite some time now, with new regulations coming in to effect in January 2019.
For us at wetalkmoney, we are largely immune to these changes as our business model of client first, non-conflict advice is the space that regulators would seem to want every adviser to be. So it’s pretty much business as usual for us. I have a sincere hope for my industry though. We’ve recently discussed perhaps the most powerful retirement strategy of them all - work a bit longer.
Well, now it seems that leaving retirement behind to return to the workforce is increasingly popular among older Australians. I came across this article originally published in the Sydney Morning Herald which shares the experience of 2 such people, and highlights the challenge of getting your retirement decision right. Anyone who has witnessed the spending behaviour of wealthy celebrities will know that having more money does not necessarily translate to better financial outcomes. In fact, many people get stuck in a consumption arms race in which every increase in income just gets absorbed by a higher standard of living.
The Australian Securities and Investments Commission just published this handy list. https://www.moneysmart.gov.au/managing-your-money/budgeting/simple-ways-to-save-money Two colleagues went on holiday separately. One had a great time. The other had a miserable experience. Their respective stories provide valuable lessons, not just about taking a vacation, but about investment.
Saving and investing for retirement are important. But for most people, another strategy is far more powerful - working a bit longer.
Keep reading. There are some provocative nuggets here. |
FPA Certified Financial Planner® Professional Of The Year 2016
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Anthony Sandercock (AR 287974) and TTLB Investments Pty Ltd T/A wetalkmoney (CAR 467267) are authorised representatives of
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Anthony Sandercock (AR 287974) and TTLB Investments Pty Ltd T/A wetalkmoney (CAR 467267) are authorised representatives of
Boston Reed Pty Ltd AFSL 225738 ABN 89 091 004 885