The No-Regrets Guide Newsletter
Whatever you do, don’t panic!
It’s tempting to think the economy, and the world generally, is suddenly going to hell in a hand basket, and threatening to take everyone near or in retirement with it. The main thing is, don’t panic.
As you will read in this month’s issue of The No-Regrets Guide to Retirement newsletter things are never as bad as they seem and there are steps you can take even in retirement to help get you through.
Five Steps You Must Take in a Downturn is a handy summary of some of the things you should be thinking about if you are finding it’s proving a bit tougher to make ends meet with prices and general living costs taking a step up.
Its not going to solve all your financial problems at once but it will give you some ideas on how you might take back control of your situation and hopefully, feel more confident about the future.
If things are tough, I’d urge you to read my Downsizing Contribution article. I know I’ve written about this before, but there have been some recent changes to the legislation that will allow more Australian’s approaching retirement to downsize and boost their retirement savings.
You do need to be careful as there are lots of rules regarding downsizing contributions, but it can boost your retirement savings by $600,000 for a couple in one simple step, so it is worth knowing about.
As you will see this article is only available to my financial planning clients or those who have subscribed to this newsletter
The Get Rich Slow Club article is a summary of my attitude towards investing and I don’t think I can stress enough just how important it is in retirement to avoid passing fads and get rich quick schemes.
It this article though I highlight not only is this a better, safer way to invest but if you choose the right companies that regularly post double digit growth rates, you will effectively double your money every seven years.
Listening to the Prime Minister, Mr Albanese this week at the press club, and his plans to create a domestic battery making hub, prompted me to think about how important it is to make ethical investments when investing funds.
Recent figures released by the Responsible Investment Association of Australasia, and detailed in my article the Greening of the Australian Investment Landscape, shows there has been a big shift in investment attitudes towards so called ethical investments.
Obviously more and more younger Australians are putting the environment first but interestingly more women are, and more older Australians are considering the impact on the environment and the world in general, when making investment decisions.
This article is also only available for clients and subscribers.
Finally, in The Big Australian Pays Up I provide what I think is a challenging rundown of just how much of a contribution the mining company BHP is making in terms of its tax payments to Federal and State coffers.
It’s easy to dismiss big mining companies as being outdated, relics from the past but BHP is showing it is embracing green technologies to improve the way it manages its mines while still making an enormous contribution to Australia’s prosperity.
As we move to a low carbon economy, with all the exciting opportunities this will bring, it is important to keep in perspective just what a contribution the mining sector makes to Australia’s standard of living.
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