So as an independent reviewer of managed funds in the world, the S + P Spiva scorecard is like the bible of fund performances. They collate and compare the universe of available funds and indicate their performance against their respective index benchmarks.
The silent assasin of any retirement plan is the affects of inflation on your purchasing power. Even with record low inflation rates, the increase in life expectancies has made it so more important to seek advice to build capital to fund a retirement that can last 20 - 30 years.
So following on from my 2 bobs worth last week where I tried to provide a distinction between Financial Planning and Life Coaching, this week I want to reflect on my experiences and explain how I work with my clients by focussing on less. Yes, that’s right. I have taken a road whereby I try to be inch wide and mile deep in regards to how I work with Financial Planning clients.
I have really gotten into some podcasts over the last 12 months. They are an easy way to take in content on a whole range of different topics. Obviously, I listen to financial planning podcasts as well as related topics such as property, sport and comedy. These are all topics that I am interested in.
Our office recently worked with a client to assist them with an income protection claim. We needed to support the claim with forms and financial details.
Do you think that the claim was paid?
You bet it was. Check out this story.
Not many investors in Australia would know of a bloke named Jack Bogle but he passed away last week.
Let me share my thoughts on how this great man changed investing in managed money for the better.
I came across this video which while it is based on the U.S. market, still relates to our own markets in Australia.
I wanted to showcase this because even after the Hayne Royal Commission, there will still be financial services providers who will continue to gouge fees from your retirement capital.
You don't know how good it feels to be able to write this heading. It's really important to understand that you have to be careful calling yourself an independent Financial Planner in the current environment. There is so much that needs to be done and ticked off before you can call yourself this term. The fallout from ASIC is immense if you have not got all your ducks in a row. Let me explain what this means to us and to our current and prospective clients.
Farm Management Deposits are a risk-management tool to help primary producers deal with uneven cash flows. Uneven income is common in primary production businesses because of things such as natural disasters, climate and market variability. The FMD scheme allows primary producers to set aside pre-tax income from primary production in years of good cash flow to draw on in years of lesser cash flow.
You might have heard about In and Out Burgers in the U.S.A. I personally have never been there but I follow a financial planner - Jeff Rose from Good Financial Cents who is absolutely in love with this burger place which he believes is better than McDonalds.
Part of their allure is that they have a simple menu, so unlike McDonalds that has huge options, they have 3 burger options and that's it. Double Double, Cheeseburger and a Hamburger. That's it.
I was reading Ben Carlson's - A Wealth Of Common Sense blog last week and he has highlighted 50 ways that the world is better than it used to be. Out of all the points that he stated, this was the point that stuck out most for me.
A frequent question I get asked when talking to prospective and current clients is, " what would happen if you died?" A real risk of placing your trust with a wealth management firm is having your plans go into a tailspin if the inevitable happened to your trusted financial planner.
This is how I answer this question.
SMSFs will potentially be affected by the Federal Opposition’s recently announced intentions to remove the ability for excess imputation credits to be refunded (albeit with clarification that pensioners and some self managed super funds (SMSF) may be exempt from this change).
Getting your finances sorted begins with a budget and understanding your cashflow. See the steps required to own your cashflow so that you can control your finances and your finances not controlling you.
A brief outline of how you can sell your home and then contribute to super to access a tax free income stream. Check with us what hurdles you need to jump over to maximise this opportunity.
We haven't heard the term "correction" in regards to financial markets in a while.
Everything seems rosy if you are earning double digit returns but we like to remind our clients what might happen and prepare them for this also.
Check out this summary of a technical correction in regards to financial assets.
The growth of our firm is built on the support and advocacy of our Happy Clients.
Take some to read this wonderful testimonial and a link to our Happy Clients page that shows how clients feel about working with our team.
These testimonials provide enormous confidence to our team and empowers us to do our best for our client's retirement plans.