Around this time each year, you are probably putting in place plans for the financial year ahead.
Maybe you even achieve some of those goals.
But you could never have planned for some of the unexpected events, opportunities, twists and turns of recent times.
Take me for example.
Every great accomplishment had a sound strategy behind it. Winging it might spice up your life, but having no plan is a recipe for disappointment. Great feats are achieved as a result of people knowing what they want and why!
Think about your favourite professional sports person or business super achiever. Do you think it’s possible that he or she became successful without first setting up a target and then taking aim? Not likely.
One rainy afternoon in 1940, an inspired 15-year old boy named John Goddard sat down at his kitchen table in Los Angeles and wrote three words at the top of a yellow pad, "My Life List." Under that heading he made a list of everything he wanted to achieve.
In the words of that celebrated US Philosopher, Elvis Presley, “we need a little less conversation and a little more action please”.
Many people avoid going to the dentist, because they expect it to be painful. You might know what I mean. That cracked filling - we never get around to doing anything about it until the darn thing falls out. Or even when faced with the choice of enduring a ‘sometimes’ sore tooth for several months versus going to the dentist, we generally try to ride out the bad tooth in the hope it will get better! And how does that work out for you? An ounce of prevention is worth a pound of cure.
Picture your first years in retirement. Things are going great. Days spent playing with the grandkids, sunny mornings on the golf course and leisurely walks on the beach.
However, if you are like many of our clients, you are relying on the sale of your business to fund your own version of nirvana.
The problem is that you are not exactly sure what you will get for the business, or even how long it might take to sell. This can be a little scary for some – there is after all a lot riding on the outcome.
With interest rates virtually nothing, reverse mortgages may be the lifeline that cash-strapped retirees need right now. But, proceed with caution.
In a previous blog, I talked about 5 things that we can learn from happy retirees. One of these 5 was to honour something known as the ‘rich ratio’. I’ve had a couple of requests to dive a bit deeper with this so here goes:
This year’s federal budget was about encouraging us to spend, spend, spend our way out of recession, and creating many needed jobs along the way.
And while you may have heard all about the tax cuts and other giveaways, you may have missed some important changes to your superannuation.
It’s tied up in a package called Your Future, Your Super, which the Government estimate will save us $17.9 billion over the next 10 years.
Wishful thinking some say, but even if they are half right, that would be a good thing.
Here’s the changes.
The Federal Government last night outlined a big spending budget, designed to kickstart the economy. The Government hopes to create 950,000 new jobs during the next four years.
Download our easy to read summary and infographic.
IMPORTANT This information is of a general nature only and may not be relevant to your particular circumstances. The circumstances of each individual and investor are different and you should not act on this information without speaking to a financial, tax or legal adviser, who can consider if the financial product and strategies are appropriate for you. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. See full Terms and Conditions here.