A retirement plan is built on a set of assumptions that can’t be validated until it’s too late. One key to successful retirement planning is carefully setting assumptions and revising them often. Retirement calculators make it so easy. Pick a retirement date. Estimate your living expenses in retirement and choose an inflation … Read More
Scenario planning shouldn’t stop at retirement. It’s unpleasant, but necessary to imagine what your situation might look like after the death or incapacitation of a partner. An early dose of reality can help you build a financial foundation in case you survive your spouse. Two weeks ago, my neighbour died unexpectedly at … Read More
When we’re 18 years old most of us generally think we are bullet proof and take risks which we might look back on in later years as being completely irresponsible. Every age group has distinctive “psychological markers” that are all part of the process of growing up or becoming older and wiser … Read More
Setting goals and writing them down to aim for what you want to achieve financially in your lifetime is a proven strategy. If you have family, then your goals will probably include and consider your loved ones. With Estate Planning, you can even do more than that. You can make sure that the goals you and your family … Read More
Just like every individual’s asset situation is different, every family’s situation is equally different, especially when there are children, grandchildren and descendants of second marriages involved. Sometimes a person wants to make sure the “black sheep of the family” don’t get their hands on their legacy. Without knowing how to properly set … Read More
One thing people will say about money and death is that “You can’t take it with you”. There is no way around the truth of this matter: no amount of earthly riches can transfer to the beyond. What you can do, however, is to make sure that you leave a legacy for … Read More
In today’s world we are led to believe that you make your money with property or investments. The property people swear by their formula of building your riches through building a property portfolio. The investment bankers and financial planners will tell you that you can’t go wrong with investing in the stock … Read More
The tune is still ringing in my ear, especially the line when Liza Minelly sings “Money makes the world go round, the world go round, the world go round…”. Even if you haven’t heard the song, most people are familiar with the saying and sometimes attach their own meaning to it, … Read More
There are people who have an incredible talent in organising anything, be that their home environment with stacks of shelving and cupboards to hold all the things they have, parties, fund raising activities, community meetings, the list goes on. In most cases these folks also apply their organising skills to keep their … Read More
Worried about having enough in your nest egg for retirement? Here’s a simple approach: work just a few years longer. By accumulating more savings and shortening your withdrawal period, you don’t need as high a lump sum to generate the necessary income at retirement. We like to think that Australian workers typically … Read More