Podcast - Scott Pape “The barefoot investor”
October 15, 2008 by admin · Leave a Comment
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On Sunday morning 12/10/08 after an episode of Money Matters, Kel and I sat down with the best selling author the ”Barefoot Investor“, Scott Pape.
Scott shared his thoughts on Generation Y and their problems with credit card debt, how they can save and create wealth, managing mobile phone expenses and whether it is worthwhile seeking financial advice. An entertaining discussion …. do you know what Twitter is? A highlight for me, was his comment that personal finance is 80% behaviour, 20% knowledge. How true.
Scott is a regular voice on National radio (Austereo network) and writes a a weekly column for the Herald Sun, the Courier Mail and the Daily Telegraph. He is a man who sees it how it is. By his own admission, he “keeps it real”.
Scott understands that young people growing up are faced with a lot of pressures and, if they are to be successful, they are required to compete in an extremely competitive economic environment, where having a degree is by no means a ticket to a successful career and financial happiness. Read more
$1500 Co-contribution for my children and excessive fees in super funds
May 11, 2008 by admin · Comments Off
Q. I phoned your Money Matters show last Sunday & asked about investment option for my 14yo daughter who has 2 jobs.
You suggested super, to get the govt incentive. She is not earning enough to pay super yet, though a fund has been set up by employer.If she pays in herself, & gets govt incentive, won’t all that be eaten away by fees as she will not be earning enough from either employer to be paying super for some time yet?
Everything my 19 yo daughter has paid into super (by employers) so far has gone in fees. She actually has a negative balance on her super a/c.
Josie’s Answer: I certainly remember your call and was particularly impressed by your two very hard working kids.
I suggested researching the possibility of taking advantage of the super co-contribution scheme, whereby those earning less than $28,980, are eligible to receive $1500 from the government if they contribute $1,000 of personal contributions into their superannuation account.
There is no minimum age requirement, but they need to working, lodge a tax return and you need to ensure that the money is debited from their own bank account.
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