A dollar for every time I’ve been asked this question over the last few months.
Why is there a trade war and how will impact us?
On 7 August 2018 the Australian population has edged past the 25 million mark. What could this mean for the future financial wellbeing of everyday Australians? Hear from Certified Financial Planner® Professional Tony Sandercock of wetalkmoney about the potential impact on finances and retirement outcomes of a bigger population. (This article originally appeared in Money and Life)
Kids do it all day long. “Mum, can I have this, go there, do this, do that, please, please, please?” They can be relentless. And it works for them!
It sounds simple, but the act of asking is actually very difficult for many of us.
There’s so much today about the financial side of retirement. Save more, invest more, have more, but for what? For you the answer may be financial independence, or maybe just the ability to stop working at a job you don’t like. There are legions of experts out there to help you figure out your asset allocation, how much you need to save, how much you can safely withdraw etc etc etc.
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:
Do you want to know a secret? Building long-term wealth through investment doesn’t have to be complicated. And it doesn’t depend on making forecasts. The simple fact is that market returns are there for the taking, so long as you stay disciplined and build a diversified strategy around risks that carry a reliable reward.
The media would have you believe that a successful investment experience comes from picking stocks, timing your entry and exit points, making accurate predictions and outguessing the market.
Is there a better way?
I like camping. I hire all sorts of gear. One year I was encouraged to hire a dog as a companion and protector. The dog’s name was “Worker” and he cost me $5 a day. “Worker” was a great investment – loyal, dedicated and great company.
The nature of retirement has changed. When the age pension was introduced in 1908, life expectancy was 55 for men and 58 for women. With age pensions kicking in at 65 and 60 respectively, politicians weren't expecting a significant tax burden, nor did retirees require a great deal of money – the “Golden Years” often didn't last long!
It’s not asking for much. People just want advice they can trust.
This basic standard of care in my profession, financial planning, can be variable.