Each week we ask a question to help you focus on an area of your finances that might need a closer look. This week: What’s the best way to teach kids about money? One thing we definitely know about maximising your wealth: start as early as possible. Compounding is the key, so the sooner you… Read more »
If you’re sick of failing at reaching your financial goals, analysis paralysis could be the culprit. A quick decision is often better than no decision at all. It’s funny how an upcoming new year gets us thinking about the things we’d like to do better, and the goals we want to achieve in the next… Read more »
What does ‘enough money’ mean? In truth, there’s no magic number, but there are ways to tell if you have enough for you. Most Australians dream of being rich. To be so ‘well off’ that they don’t have to worry about money. They idolise celebrities who seemingly have it all. They try to keep up… Read more »
The transfer of intergenerational wealth in Australia looms as a significant opportunity with around $3.5 trillion expected to be passed down over the next 20 years. While this equates to an average inheritance of about $320,000, around 25 per cent of inheriting Aussies will receive more than $600,000 each. Receiving a sudden large sum of… Read more »
The share of total income collected by the top 1 per cent of Australia’s income earners has been trending upwards since the 1980s. It is now about 9 per cent of total income. How concerned should we be about this? To some extent it depends on fluidity of membership of the top 1 per cent… Read more »
Do you know if you’re on track for a comfy retirement? How much super should you have in your account already? And what should you do if there’s a gap (because trust me, there’s probably going to be a gap)? Not many 20-year-olds get their first job and think, “Yippee, I’m on my way to… Read more »
Becoming a master of delayed gratification means you can buy as many marshmallows as you want, forever. Delayed gratification is basically your ability to resist the allure of an instant reward and hold out for a potentially greater reward in the future. It was first explored in the famous 1972 Stanford marshmallow experiment by psychologist… Read more »
Why is it that you’re constantly getting into financial trouble even though you try so hard? Could you somehow be self-sabotaging your finances? No, you’re not intrinsically bad with money. But you might be unintentionally self-sabotaging your finances. All the budgets, savings plans, investment advice and frugal tips in the world aren’t going to help… Read more »
There’s a 10-year-old book by Steve Siebold doing the rounds again. For good reason. How Rich People Think taps into the psychology of money and there’s a lot to learn from its pages. Back in 2010, author and self-made millionaire Siebold interviewed 1500 rich Americans to try and find out what makes them different to the… Read more »
It’s no big secret, but the golden rule to grow your wealth is often the hardest rule to follow of all. There are many ‘rules’ to growing your wealth and being comfortable with money. Here are several that deserve to be at the top of the list: Spend less than you earn Protect your assets… Read more »
