Selling shares when prices have tumbled or buying a house at the height of a property boom only to dispose of it when the market falls are among the financial set-backs that can happen to anyone on the road to retirement.
Everyone makes mistakes during their investment lifetime; the trick is to avoid them when you can and learn from the ones you can’t.
Have a plan
Failing to plan for retirement and build up savings is one of the most common mistakes. ...
Personal insurance premiums have increased significantly over the past 18 months, running the risk that cost- conscious consumers might consider cutting back their cover. Suddenly those quick, off-the-shelf insurance products advertised on TV look enticing.
But simple is not always cheaper, the cover may be inadequate or, worse still, may not pay out when you need it most.
Personal insurance is a general terms for term life, total and permanent disability (TPD), trauma and income protection insurance.
The reality is that even those people ...
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As the Treasurer foreshadowed, this to be a Budget of structural reform with distinct short and long term winners and losers. The bad news headlines were fairly accurately reported and were old news by Budget night.
For many - families, pensioners and those relying heavily on assistance and subsidies - the impact of the Budget will be evident through the co-payments that will demand a little more for each service each time and in some circumstances severe restrictions to eligibility.
For business, left untouched ...
A person’s home is their castle and any equity in it is the owner’s to use as they wish.
But the large amount of untapped wealth that is tied up in homes around the country has not gone unnoticed by the Government and others.
Two high profile reports as referred to below have raised the possibility that one way to help fund the rising costs associated with an ageing population, is to bring the family home into the equation when it comes to ...
The line “as rich as Croesus” is littered through literature in works as bizarrely diverse as Alexandre Dumas’ The Three Musketeers to E.L. James’ Fifty Shades of Grey. As the ruler of Lydia (in what is now western Turkey) from 560-546 BCE, King Croesus presided over the introduction of the first Legal Tender coinage.1The man deserves his dues.
The coins were made from electrum, a mixture of silver and gold and stamped with pictures that acted as denominations. In the streets of ...
There are 5.2 million boomers in Australia born from 1946 to 1964. This compares with six million generation Xers born between 1965 and 1983. Generation Y, born across the 18 years to 2002, is expected to peak at about 7.4 million next decade.
With Australia’s population expected to swell by mid-century and the first wave of baby boomers reaching retirement, building up the nest egg has become more important than ever.
Late boomers, generation X and Y have contributed to their superannuation fund ...
Another benefit of taking out insurance when you are younger is that insurance policies are generally guaranteed to be renewable. This means once a policy is in place, the insurer is obliged to renew it every year unless you say otherwise. So should your child develop minor health complications or an illness later in life, the insurer cannot refuse cover. Neither can they increase the premiums (called a ‘loading’).
Unfortunately, many adult children delay taking out insurance until they have dependants of ...
If you don’t know how to negotiate the taxation and Centrelink minefields, it can be a daunting prospect to accept a redundancy offer. But help is at hand and with professional advice you don’t have to go through it alone. To help get you started, here are six key strategies to consider: If you will be unemployed, use your existing savings, holiday pay, long service leave and tax-free redundancy payment to meet your living expenses. Any taxable portion of your redundancy ...
Concerns that the share prices of the big dividend payers had become overheated have been reduced by the better-than-expected results in the February reporting season. Some analysts had said the shares of some of the Australian share market's biggest yielders were "priced for perfection". They said the companies would need strong profit increases to justify share prices pushed higher by investors chasing yield over the past two years.
Share researcher Lincoln Indicators is forecasting a gross dividend yield for the 2013-14 year ...