Financial Planning Factories - Money Tip without the Boring Stuff
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It is a tough world out there. How do you find a financial planner that you can trust? First and foremost, we are not demigods (although I think I have met some that believe they are half human, half God).
It is not the first time you have heard me say that finance professionals cannot predict the future (obviously). It worries me no end that people (known as prospects to the financial planner) walk into extravagant financial planning offices and think to themselves ‘Wow, this guy must know what he is talking about!’ Look he is so successful!.
Intelligent investors know if anyone possessed the ability to consistently and accurately time the market, they would be instant billionaires. Why didn’t Warren Buffet, Bill Gates, anyone in the Top 500 Rich List walk into the same office? Oh that’s right.. I forgot they genuinely care about the little people. Codswallop! (not even sure if it is a word). If that is the case, why do they need to charge ridiculous fees? Why do they have to preach to the masses? Why do they need to advertise to get people to attend their seminars? Read more
Money Tip without the boring stuff - Is My Money Safe?
Even though the Government announced on Sunday 12th October, 2008 they would guarantee all savings within banks, building society and credit unions, I am still getting lots of queries.
Must admit it is confusing as the Government didn’t include the fine print. You will not find a better guarantor than the Australian government. Following is a link to the Treasury Department - www.treasury.gov.au.
Money Tip without the Boring Stuff - Will property prices fall?
October 10, 2008 by Josie Kay · Leave a Comment
Bricks and mortar - safe as houses? Not sure after surfing the internet trying to find a balanced argument in favour of buying property at the moment. Here is a summary of what I found. The blue (as in colour) comments are mine. Please share your thoughts on this subject.
John Hewson – former Liberal leader, economist – 7 October 08 Gold Coast Bulletin (quite pessimistic)
“Property markets are going to go down, and go down for some time.” said Dr Hewson.
He said that falls would be across the board, particularly commercial properties. “I think there could be a hell of a property shakeout.” Read more
Save money on insurance - this week’s Money Tip without the BS (boring stuff of course!)
October 1, 2008 by Josie Kay · Leave a Comment
Insurance is one of the expenses that we just love to hate. Unfortunately insurance is also one of life’s necessities. Following are some suggestions on how you can save on premiums:-
Review your insurances annually. Insurance companies are very clever at finding ways to make sure you pay the premiums on time and often.
Pay by the month is a great way to manage the budget, but I suspect the insurance companies also know that we probably won’t check on them until the budget is really tight. Read more
Advice from Bill Gates - This week’s money tip without the BS
September 24, 2008 by Josie Kay · 2 Comments
Bill Gates dished up the following rules of life at a high school speech about 11 things they did not and will not learn in school.
He spoke about how feel-good, politically correct teachings created a generation of kids with no concept of reality and how this concept set them up for failure in the real world.
They are all gems. If you have teenage children email it to them, or you could print this page and stick it on the fridge Read more
This Week’s Money Tip without the BS (boring stuff of course!)
September 18, 2008 by Josie Kay · Leave a Comment
Hate to budget? An oldie but a goodie - pay yourself first.
Set up a bank account and direct at least 10% of your salary and forget about it. Works particularly well if your employer has the facilities to direct debit straight from your salary to your bank account. Read more
Today’s Money Tip without the BS (boring stuff of course!)
August 12, 2008 by Josie Kay · Leave a Comment
Have you heard the term ‘debt recycling’?
Simply means that you have taken out an investment loan to purchase an asset like shares or property, and then use the income from these investments to repay debt on the family home.
The reason it can be such a powerful strategy to reduce debt is that the interest applied on an investment loan is normally tax deductible, whereas the interest on the loan attached to the family home is not.
Therefore, it makes sense to pay the family home off first as you are paying with after-tax dollars.
Josie’s quick money saving tips
Want to stay one step ahead of the property game with investment secrets?
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