Shane's Blog
This week we have seen the market/s fall by approximately 10%, the worst weekly fall in the markets since the Global Final Crisis (GFC) on the back of fears about the coronavirus and its potential impact on the world.
So, the question that I have been pondering, is this the beginning of the end?
Now, of course I am not bold enough nor do I profess to have the knowledge to predict that this episode on the market is the beginning of the end and unfortunately I don’t have that crystal ball we would all desperately love, which tells us what happens next.
I am sure you have read over the last 24 months not only the Royal Commission into Banking and Financial Services but also the education reform, instigated by FASEA, into the education standards of financial advisers.
The Royal Commission has grabbed the headlines for obvious reasons however quietly in the background the education reforms introduced by FASEA have been ticking along forcing advisers to return to study on mass, to fill in any gaps. At the introduction of these reforms, there were approximately 26,000 licensed financial advisers across the country who all need to shape up or ship out!
January already I hear you say…… Christmas has come and gone and the aftermath of a busy and expensive time is now being digested.
So the purpose of this blog, to provide some insight about how to plan and prepare for Christmas and other expensive times of the year, such as birthdays, wedding gifts, milestone birthdays and the like.
I spend much of my time discussing cash flow with people who we work with across all stages of life and one of the consistencies is that the generosity of giving comes at a cost and for many presents a challenge to cater for. It consistently surprises me how much gifts cost not only in my household but everyone’s household and it is not surprising that it is arguably the most expensive item for every household.
I have for as long I can remember written down my dreams and aspirations and have been intuitively motivated by making progress towards these, perhaps this explains why I enjoy helping other aspirational people work towards achieving the things that matter to them most.
Last week I attended a professional training day and the speaker touched on the importance of goal setting and this was a good reminder and sparked me into action to write this blog.
I have a small confession to make, I love compound interest!
Let’s be honest this is arguably the first money lesson that we are taught however I would argue that in the 20 years I have been working as a financial planner, this concept is still foreign to many of us.
Yesterday, I had the pleasure of spending the day visiting several wineries in the Coonawarra Wine Region in South Australia. Safe to say that I do appreciate a glass of red wine, so taking the time whilst on family holiday to visit the Coonawarra was akin to a child in a candy store.
That said, despite loving the experience of being immersed in some of Australia’s oldest wineries, what I was pleasantly surprised with was the pride and passion in which some of the wine makers discussed their history and the importance of being part of something greater than just themselves.
Last Thursday was RUOK day where we are encouraged to take a moment to ask those around us if in fact they are ok? The focus of the RUOK? movement is to specifically target suicide awareness and prevention and to support people in having open conversations about mental health.
A couple of weeks ago my blog focused on, when is a balanced investment fund, really balanced?!?
One of the key aspects of the blog was the frustration I feel for investors who try and make an informed investment decision about where to invest their hard-earned cash. Furthermore, I have for a long-time been bewildered by the fact that there has been minimal noise about the discrepancies that exist in this space.
So, it’s tax time!
The time of the year where we make that annual pilgrimage to see our Accountant, shoe box in hand, hoping that we might get a nice surprise and leave with a wheel barrow full of cash. If only it was that easy……
For some, tax time means parting with more of their hard earned and paying a tax bill whilst for others this is the best time of the year where we have a windfall for the household. Let’s not forget the retirees who are still grinning like a Cheshire cats counting their franking credits, now there is an example of the good guys winning.
Have you ever wondered what the term balanced investment means?
So where do we begin? Let’s simply focus on one investment type, a balanced fund (be that investment or superannuation) because this is arguably the most common form of investment or at the very least the default option for the majority of superannuation funds.
Have you ever tried to understand your Electricity bill?!?
I, like many, have tried and FAILED and simply put it in the “too hard basket” until I find time to complete that University Degree into how to read my electricity bill.
Now, I am not one to give up, so I rolled up my sleeves and tackled this arduous task head on and have been pleasantly surprised at what I have uncovered.