On this week's episode Pete and Zac are joined by Dave Robbins of Performance Property Advisory and BuyerX. They discuss rentvesting, looking outside of your neighbourhood for investment opportunities and a general property market update for Australia.
You are in for a treat today as I am joined by Noel Whittaker all the way from sunny Brisbane. Noel is one of the world’s foremost authorities on personal finance. His CV is one of the most impressive ones you can imagine…. and includes being an International bestselling author, finance and investment expert, radio broadcaster, newspaper columnist and public speaker.
His contribution to personal finance has been immense. It has seen him be awarded the Australian Centenary Medal in recognition of his services to the financial services industry. In 2011 he was made a Member of the Order of Australia for service to the community in raising awareness of personal finance.
We are talking to Noel today about his new book " Making money Made Simple"… which is a completely revised and updated version of his original best seller which sold more than 2 million copies. It is a great read and provides reasoned and realistic views on goal setting, investing, superannuation, debt, and all things personal finance.
In this episode Pete and Zac run through their 50 top financial tips in celebration of our 50th episode! Here are our top 50 tips below.
Start with the end in mind
Put regular savings towards your future
Automate your regular savings
Diversify your investments
Understand your risk profile
Get your structure right
Have a rainy day cash buffer
Have goals to work towards
Don’t be a reactive seller
Start saving for children as early as possible
Structure your portfolio to meet your objectives, not someone elses
Teach your children about finances
See opportunity when others are panicking
Spend less than you earn
Be an investor, not a speculator
Focus on value, not just what is cheapest
Review your super fund
Check your supers performance against others
Beware of accessibility of super
Don’t ever be left without insurance (Don’t rollover super fully if there are some insurances in there)
Insure your health
Review your insurances regularly
Check your insurance definitions
See what is better for you, stepped or level?
See if you have trauma, if not, think if you need it.
Structure your insurances correctly, inside vs outside of super
Plan for retirement early
Know your number - how much you’ll need/want in retirement
Be aware of your available super contributions
Be aware of sequencing risk
Get the right asset mix in retirement
Have a will
Review your super death nominations
Look at a binding financial agreement
Beware of STD’s (Sexually Transmitted Debt)
Have a yours / mine / ours approach to money if you’re in a couple
Use the first home super saver scheme
Use the downsizer contribution
Check your interest rate
Get an offset account
Try to keep the emotion out of investment properties
Maintain a good credit rating
Track your cashflow
Re evaluate your spending on frivolous purchases
Be wary of credit card debt
Use your tax return wisely
Understand and plan for the impact of tax
Get a good team of professionals around you
Invest in yourself
Getting married for a second time can cause complications financially, especially if there are children from a previous marriage. It should be something that is discussed so that everyone is on the same page and therefore avoids problems in the future.
In this episode we discuss some things you should be thinking about in relation to your finances if you are getting into a second relationship or marriage. We talk about things such as:
Estate Planning including wills and binding financial agreements.
How to have a discussion about your finances with your partner
Yours, mine, ours approach to money
Working towards joint goals
Superannuation death nominations and
For link to the full transcript and more go to https://www.pekada.com.au/2019/11/episode-49-money-tips-for-second-marriages/
Retirement is changing. Decades ago people were lucky to make it to their retirement and now we are living longer and therefore having to fund more years. In this episode we speak about this changing mentality of retirement and give some tips on how to make retirement work best for you.
In this episode we look at the age group of those 55 and above. The issues that can affect this group and some ways to combat those problems whilst also looking at some strategies to use debt for your advantage,
Entering retirement, owning your own home and being completely debt free is for many people the great Australian dream. But with lifestyles changing and living expenses on the rise, it is not necessarily possibility for everyone, and many people enter this stage of life with a mortgage.
Some of the strategies to consider for those above 60 would be to get pro-active with their debt strategy in advance of retirement by understanding how you want your lending facilities to look for the rest of your life. This is important as your opportunities to restructure this become more limited as you get older and when retired.
If you are planning to carry out a home loan into retirement, it is important to know that it’s not necessarily an impossible thing to manage, but you need to plan for it as part of your household budget. You might be potentially learning to live off a lower income amount if you’re finishing up working full time and therefore the repayments need to be factored in because as a percentage they could be eating up more of your income and your lifestyle could be affected as a result.
Often the biggest asset that individuals have is the family home, and with property price increases over the last decade being so significant this effect has been compounded.
With such large amounts of our wealth tied up in non-income producing assets such as the family home, debt strategies will form a bigger part of retirement planning than ever before.
A family home is not income producing but provides a host of other benefits including peace of mind, a sense of financial security and a place to call home without the fear of getting told by your landlord that you need to move. Whilst they are great benefits, it doesn’t assist in funding your lifestyle. Short of renting out a room, charging board, or perhaps listing on Airbnb, the family home is not going to generate any income that's going to help fund your lifestyle needs in retirement and options for accessing the equity in the home may be required to meet this.
Care needs to be taken because this is an asset that often has a deep emotional connection, so you want to make sure that you are not putting this at risk by overextending and not being able to meet repayments. But, if used correctly, you could be accessing just a part of the equity and the ongoing growth in the property to supplement your lifestyle whilst still being able to remain in a property that you're comfortable in and feels like home.
In this week's epsode Pete and Zac are joined by mortgage broker Kate Allison from the Australian Lending and Investment Centre (https://www.alic.com.au/kate-allison) to discuss why you should see a broker, how to choose a good one and get some information on home loans. To get in touch with Kate check out her LinkedIn profile https://www.linkedin.com/in/kate-allison-108a8365
Currently we are experiencing more volatile times in the markets and this has lead to Pete and Zac receiving a few emails from clients asking what they should do. In this episode they talk about behavioural finance and how you can control your emotions when it comes to investing.
In this weeks episode we dive into the age old question of where should I invest, inside super or outside super?
Show notes here - https://www.pekada.com.au/2019/08/episode-36-inside-super-vs-outside-super-where-should-i-invest/
In this episode of the podcast Pete and Zac run through how to financially prepare for having a child and Pete runs us through some of his experiences as he currently has a one week old daughter and an 18 month old son.
One of the main questions we get asked as advisers is whether or not someone should get a self managed super fund. In this weeks podcast Pete and Zac go through and discuss the reasons and rationale for getting an SMSF and how it mightn't be right for everyone.
With most people getting an extra $1,080 in their tax returns this time around, Pete and Zac share their top 5 tips for what to do with your tax return.
Blog here: https://www.pekada.com.au/2019/07/top-5-tips-on-how-to-use-your-tax-return/
In this episode Pete and Zac look at an investment megatrend that has been gripping the US which is alternative plant based protein. We have seen this in the media a bit recently through the rise of the Beyond Meat IPO and the change to more and more people no longer eating meat. They take a deep dive into some of the companies working in this space.
This week Pete and Zac sat down with Kyp Kyprou, Director at the Home and Investment Lending Centre to talk about what is happening currently in the lending market and some tips for potential borrowers.
To contact Kyp go to www.hilc.com.au or email him at firstname.lastname@example.org
To get your credit report - https://www.equifax.com.au/
On this weeks episode Pete is joined by Brad Matthews from Plain English economics where they discuss;
the trade dispute between China and the U.S. and if it is a serious risk for equity market investors
interest rates have continued to decline locally and abroad and why they are being maintained at such low levels and
how locally there seems to be more optimism around the outlook for the housing market since the election and whether we have seen te bottom of the price cycle.
This week the RBA decided to cut rates to historic lows which means that we are currently in one of the lowest interest rate environments we have seen. Pete and Zac run through some tips on how to invest for income in these times.
In this episode Pete and Zac run through how the Golden State Warrior's starting five relates to investments and building a super-team-esque investment portfolio.
blog here: https://www.pekada.com.au/2019/05/what-the-nba-super-team-can-teach-us-about-investing/
In this episode we go through some of the questions we have received including how often people should review their insurances, what is a share buy back and is it worthwhile and also what is the best way to transition to retirement,
in this episode Pete and Zac discuss the financial implications of getting a redundancy and how you can make it work in your favour rather than seeing it only as a negative. They discuss the ways to make the most of your package and what you should be looking out for when you start a new job.
In this episode we are joined by Property Advisor from Synergy, Andrew Skubel. We discuss where we are at in the market and what people should be thinking if they are looking to buy property in the near future.
For more detail on Andrew go to http://synergybsm.com.au/ and his profile is here at http://synergybsm.com.au/agents/andrew-skubel/
In this episode we are joined by Senior Associate from Argent Law, Stephanie Hope. We discuss all things Divorce and the financial implications of this.
Steph is a family law specialist with years of expertise in the family law field. If you want more details on how to contact Steph please go to https://www.argentlaw.com.au/
In this special episode of the Wealth Collective podcast, Pete and Zac discuss the proposed changes and announcements from the 2019 federal budget and how these could potentially impact you.
If you have any questions about the budget and how it might impact you, email them through to email@example.com
In this episode Pete and Zac are joined by Cameron Johnson from Rucker Financial to discuss personal tax. Getting closer towards the end of financial year it is timely to discuss ways to legally minimise tax and what people should be doing during the year to make tax time a lot easier.
To get in contact with Cameron you can email him on firstname.lastname@example.org or call the office 03 9874 7255.
ATO App: https://www.ato.gov.au/General/Online-services/ATO-app/myDeductions/?=redirected
For more information on gifts and donations: https://www.ato.gov.au/individuals/income-and-deductions/deductions-you-can-claim/gifts-and-donations/
in this weeks episode Pete, Zac and Mardy talk about what it means to live richly and how to achieve it. We have just launched our #dontdiepoor campaign that is all about helping people live richly.
Read more about it here: https://www.pekada.com.au/2019/03/dont-die-poor-how-pekada-can-help-you-live-rich/
In this episode Zac and Pete discuss the proposed changes to franking credits should Labor get in at the next federal election which is looking more and more likely. This is a policy that will potentially affect a lot of self funded retirees so we look at the possible ramifications and what portfolio changes, if any, you should look to implement.
It is International Womens Day and Pete is joined on the podcast by Principal Adviser @ Pekada, Rhiannon Kanoniuk talking about some interesting studies which suggest that women are better investors than men.
There are some big generalisations here, but well worth diving into the findings.
Articles of interest:
Forbes - Why Women Are Better At Investing
Fidelity - Who's the Better Investor: Men or Women?
Berkley Study - Boys Will Be Boys
Fidelity - Women and Money
In this episode Pete and Zac are joined by Brad Matthews from Plain English Economics to discuss current market and economic conditions and what to expect in the future.
Zac and Pete also discuss what a risk profile is and how it can impact your investments and how you construct a portfolio.
In this episode Pete, Zac and Dan run through the findings of the royal commission and how these will affect you as an Australian. They look in detail at some of the key findings and what this will mean for everyday Australians looking at getting advice.
Royal Commission reports - https://financialservices.royalcommission.gov.au/Pages/reports.aspx
In this weeks episode Zac and Pete discuss the age old question 'will I have enough to retire?' They go into detail about how you can decide if you will have enough and what to do if it looks like you might be a bit short. They also discuss what asset allocation you should have in retirement.
Retirement Tracker - http://www.superguru.com.au/ExternalFiles/calculators/retirement-tracker/#/
ASFA Retirement Standards - https://www.superannuation.asn.au/ArticleDocuments/269/ASFA-RetirementStandard-Summary-2018.pdf.aspx?Embed=Y
Pete, Zac and Dan run through how to effectively set goals and how to set goals that you will actually work towards and be able to achieve. They also run through some of the most common financial resolutions that people set in a new year and give you some tips on how to make them happen.
Pete, Zac and Daniel take a look at the proposed changes to negative gearing that Labor is looking at bringing in if they're successful at the next election, which is looking more and more likely.
They take a look at the potential implications for these changes and what this could mean for you.
Pete, Zac and Daniel take a deep dive into superannuation funds and what you should be looking for in yours in terms of investment options, insurances, fees and beneficiary nominations.
Also, we were joined by Melissa Robinson from Loanworx (email@example.com) to talk about home loans, what has changed recently, some tips to ensure you get the best loan for you.
Any questions please contact us on Twitter, Facebook or firstname.lastname@example.org