There is no doubt
that the very thought of claiming on your own insurance policy is depressing,
but extensive research tells us that you (and even me) may be unable to work
for an extended period during your life due to sickness or an accident. The
problem is that nobody has any idea of when that might happen. Please try to
fight the urge to stop reading now and ‘worry about it later’because there is an important message here.
It’s a confronting topic that makes us think
about our own mortality. However, as a financial adviser I have helped many
clients through the process.
For previous generations of Australians, retirement
usually meant ceasing work and hoping to live long enough to qualify for the
age pension. Apart from the family home and personal belongings there were
usually no substantial assets to leave behind for children or other family
members. Superannuation has changed all of that.
The super impact
Superannuation became compulsory over 20 years ago, and
as a result, retirement funds have grown exponentially. There is also a
plethora of retirement income products that offer more choice in how money is
This time of the year is always very special to me, as I know it is to many, many people.
I will be attending the Dawn Service at Mt Macedon tomorrow morning, together with my family...the kids look forward to this event every year, and it is now a tradition in our household. They don't mind getting up early, and heading up the mountain in the dark to remember the soldiers...they understand that the small amount of discomfort that we feel, just by getting out of bed earlier than usual, is just our way of honouring the enormous sacrifice of all those brave men and women who have fought in the conflicts of the past, as well as in more recent times.
Do you wonder how all the information collected by the Australian Bureau of Statistics translates into data that means something?
Click on the link below and you can view a video put together by McCrindle Research...it's very cool!
A reflection on interest rates
With the constant
public focus on interest rates, particularly the first week of every month when
the Board of the Reserve Bank of Australia (RBA) meets to determine its
movement, many people don’t fully understand the power of the term “cash rate”.
Here is an explanation.
In most developed
countries, the official interest rate sets a benchmark from which mortgage,
credit card and other loan rates are based. If interest rates are “low”,
individuals, businesses and governments will borrow to invest or increase
exchange rates affect us
Our Aussie dollar
moves up and down against the US dollar, euro, pound and yen daily – but what
does it all mean and how does it affect everyday Australians? Here is a simple
explanation of the impact of different exchange rates.
you wanted to buy a product online for US$100. You have Australian dollars, so in
effect you actually make two purchases – firstly, you buy US$ and then you buy
exchange rate of the Australian dollar is, say $1.
This could be just what you've been waiting for...
It is said that six-year-olds
laugh on average 300 times per day but by the time we reach adulthood we’ve
reduced our daily giggles to just 15… if we’re lucky! So what, you might say,
what’s there to laugh at? Well, it’s not just a case of what there is to laugh
at, but what happens when we forget to laugh… basically, life becomes a drudge.
It’s a bit of a
Catch-22 situation - by focusing on the constant bad news we’re exposed to via
the media, it becomes very difficult to raise a smile. So it might be time to
rise above the doom and gloom, turn the TV off and pick up a comic or a Dr Seuss
This morning I sent my kids off to school proudly displaying poppies pinned to their jumpers. They know that today, like Anzac Day, is a special day to "remember the soldiers".
Here's a link to a website providing information and a little bit of history to remind us why this day is so special...
In Flanders Fields
In Flanders fields the poppies blow
Between the crosses, row on row,
That mark our place: and in the sky