We have all been concerned about recent news emanating from the Financial Services Royal Commission and the confidence of Australians to receive trustworthy, thoughtful and appropriate financial advice. The appalling behaviour of many corporates and advisers has sometimes resulted in a devastating financial impact on investors.
So many people go through their working life waiting for the magical day when they can ‘retire’ from their job. This retirement date may be the date when they become eligible to receive the age pension or another arbitrary date that they have been working towards. But often these same people reach their retirement and twelve months later discover that it is not what they had expected it to be.
In a popular children’s story, the young hero pins all his hopes on finding one of a handful of ‘golden tickets’ hidden among millions of candy bars. It seems many people approach investing the same way.
The notion that the path to long-term wealth is in locating secret and previously undiscovered treasures in the global marketplace of securities is one that regularly features in media and market commentary.
Once again, the investment strategy of maintaining discipline and holding for the long term won out over reacting to media forecasts and predictions from hyperventilating partisans. In January 2017 CNBC suggested Wall Street was the most bearish they’d been in 12 years, as it turned out, the global economy continued to strengthen as share markets posted solid returns on low volatility.
Once you hit your forties, you usually start to take your own and your family’s financial future more seriously. You may be more settled in your career and at, or near, your earnings peak. In recent years the cost of housing and general living expenses have risen faster than wages, leaving many households spending all or most of what they earn. This can make it difficult to achieve financial objectives, such as reducing your mortgage and saving for retirement.
In 2007 Apple introduced the iPhone to the world and it revolutionised the way we communicate. Apple has continued to innovate and introduce new versions of the iPhone and other products over the last decade and currently is one of the largest companies in the world. Will Apple still be producing the number one smartphone in 2027?
What does ‘living the dream’ mean to you?
One of the goals that most typically comes up in discussion with prospects and clients alike, is that of saving for their children’s education. Putting in place a plan to save for and fund education expenses is important. The earlier you start planning the better.