To really get ahead, you need to make investing a priority. Most people wait for the world to be perfect before investing, and that time never comes. A wise man was speaking to a group of his students. He put a large jar on the table and carefully placed about 12 large rocks into the […]
Consumer debt Consumer debt is debt incurred on consumer products and services. You don’t get a tax deduction for this sort of debt, so it is really far more costly than tax deductible debt. Consumer debt is usually very expensive – some credit card debts charge up to 22% per annum – and is not […]
Most people only grow their income and wealth in a linear manner. Their income only comes from the number of hours they spend at work. Their accumulated wealth only comes from saving up. The answer for some people is to find ways to increase the number of hours they spend at work and/or their value […]
This is key – and can painlessly grow anyone’s wealth and net worth to the top of the tree Renowned economist, banker, teacher, communicator, UNE alumnus Dr Don Stammer said this. Based on market indices and the reinvestment of any income flows: One dollar invested in Australian cash in 1900 would today be worth around $259. If one dollar […]
“Action actually cures fear”. Inaction does not prevent or avoid fear – it multiplies fear. “Fear is the prison of the heart” – Anonymous. Most Australians well know that they don’t have enough to retire on. And most of them don’t know what to do about it. One thing is for sure – you have […]
The secret to building wealth is not to spend your capital but to only spend the income you derive from that capital. It’s ok to buy luxuries such as flash cars, boats and holidays, but your passive income should pay for them. You should protect the “golden goose” i.e. your capital. It’s one of the […]
Some people think, “I’ve paid taxes all of my life; let the government take care of me in my retirement.” Thirty years ago, that may have made some sense. At that time, there were 7.5 Australian workers funding each retiree. Today, there are just five workers per retiree. If the current trend continues, it’s estimated […]
AND A BIGGER BIT BECOMES A LOT MORE The power of compounding was well understood by Albert Einstein. He said “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” The theory of the power of compounding by necessity is embedded in every plan […]
Barry (pictured) always yearned for a comfortable retirement and a better lifestyle in the lead up years, but like many others felt he wasn’t equipped to work out a way to do it. He felt he and his family deserved the good life, but also felt “held back” by having very little to start with. […]
