Any of these sound familiar?
When it comes to your financial plans, do you do the same?
Let's have a look at what these assumptions could be costing you.
So you've got a little spare cash. Not sure whether you should repay your mortgage sooner and pay extra in to super?
It's one of the most common questions we get. Here are some rules of thumb you can follow to work out what's right for you.
It's easy to understand why retirement doesn't loom large on the horizon for 20-somethings. Young workers are more concerned with kick-starting careers, not ending them in the long-distant future.
And in your 30’s, there’s probably extra mouths to feed and debt to reduce.
“So what do you do?” the cardio surgeon asked. It’s an innocent enough question, but it turned out to be loaded with philosophical importance.
His eyes lit up when I said financial planner.
In the grand scheme of things, money's not that important. It's important only to the extent that it allows you to enjoy what's important to you. Despite this, a recent survey of Millennials found more than 80 per cent said their major life goal was to get rich. Another 50 per cent said that another major life goal was to become famous.
There's unlikely ever to be a law banning percentage-based financial advice fees, but if the Financial Planning Industry were serious about becoming a profession and being fair, it would head that way. In my view, one of the big rackets in the financial advice industry, hiding in plain sight, is percentage fees.
When I ask this question of my clients, it is generally not an amount of money or the material side of life that we finish up talking about.
It is the things they want to experience.
Retirement ought to be the time of your life. And for many retirees that holds true.
Some would say that they were happily retired, while others wouldn’t even admit to being retired at all! That’s the point – this next phase of your life will be about living the kind of life that YOU decide.
Having trouble following through on financial goals (or any goal for that matter)? Here are eight great questions that might just help.
It can be hard to know if you’re doing well with your money or not, so we’ve taken the guesswork out of it for you.
Follow the link below to take our quick quiz and work out if you’re doing all the right things with your money or need to pull your socks up, as well get some ideas about what you should be doing next.
You can access our quiz below