The Anne Files (Blog)

This is the place where I share my opinions, musings and tips.

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When you are in business for yourself you very much have all your eggs in one basket.  You are investing in your own success and putting your money where your mouth is.  There is no employer to look after your payroll admin, no employee benefits, sick pay or long service leave.  There is probably no Superannuation Guarantee. All consuming as running a small business is, it is still important to take the long term view
If only it was possible to predict the future.  Whether it be the lottery, the stock market or even which career to choose, we could always be certain of picking the winner.  Unfortunately life isn’t like that and we can only make decisions based on the information that is available at the time. Some investment advisers may try to give the impression that they have expert or inside knowledge of what is going to happen;
Would you and your family be impacted financially if you were no longer able to work?  If the answer is Yes, it is likely that you need to put some personal insurances in place (or review and update those that you currently have). But what type and how much cover do you actually need? (Hint: It is probably more than you think). Life: This type of insurance pays a lump sum to the policy owner
It is often said that compound interest is the 8th wonder of the world.  What could be better than earning interest on the interest on your interest?  And the longer time you have, the more it works.  Put your money in and leave it to grow all by itself. The superannuation system takes advantage of this; regular saving throughout a person’s working life plus the regular addition of investment returns is designed to help us

September 26, 2016

An Easy Win

As a strategic financial adviser, I am always looking for opportunities to make a difference for clients that do not necessarily involve the purchase of a financial product.  In many cases, the simplest of advice can make a big difference. It is surprising how often people are carrying debts whilst having savings at the same time.  If this is you, it is a good idea to check whether this is placing you in the best
    It is that time of year again! Superannuation fund providers are preparing and sending out their annual statements. When yours arrives, here are a few things to check before filing it away.     1. Did you get more than one statement? If you have multiple superannuation accounts, it really is worth considering consolidating them. This will usually enable you to save on administration fees as well as making it easier to keep
I acquired the graphic accompanying this piece from some on-line learning I have just done on the topic of behavioural finance.  The image is brilliant in its simplicity, even though its underlying message is a complex one.  Your adviser stands between you and “The Big Mistake”.  But what does that mean? The obvious Big Financial Mistake is the catastrophic one; the major investment that goes bad, out of control spending and spiraling debts, or being
I have read a couple of reports this week that discuss the issue of women not taking a proactive interest in their own financial affairs and relying on their partner for financial security. One of the reports (here) talks about newly published research that shows that 70% of women interviewed are relying on their partner financially.  It goes on to say that these women are at risk of financial abuse.  Whilst I disagree with some
I was horrified to see in a recent report (you can read here) that 44% of Self Managed Superannuation Funds (SMSFs) have not returned a profit for their members over the last 7 years (on average).  This means that even without allowing for the effect of inflation, those people’s retirement savings have gone backwards during that time. An SMSF can be extremely effective; you have control over your money in terms of how it is
There are a number of circumstances under which you may suddenly find yourself in possession of a significant lump sum of money.  As well as gaining access to your accumulated superannuation at retirement, lump sums can also arrive in the form of an inheritance or a compensation, insurance or redundancy payout. Here are 6 important things to consider so you can make the most of your lump sum. 1. Does the money need to be