The Barefoot Investor: The Only Money Guide You'll Ever Need

£8.475
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The Barefoot Investor: The Only Money Guide You'll Ever Need

The Barefoot Investor: The Only Money Guide You'll Ever Need

RRP: £16.95
Price: £8.475
£8.475 FREE Shipping

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I sped through this!! May have accidentally stayed up til 3 one night reading it... Super easy to read and unexpectedly funny. I enjoyed how Pape guides you in a very straightforward path towards financial control, which to me is a good foundation on how I can manage my income to both save & spend guilt-free. Ways to make more income - 'career compounding' - set goals that matter with your boss, every week branch out how to work on them, pay raise by end of year, climbing the corporate ladder. Or do your own thing and freelance doing stuff you're good at

The key to building long-term wealth is to spread your money around: property and shares (through super). Most of the advice assumes you’re working fulltime while someone else looks after the kids. The idea of freelancing or working extra hours etc is fine for people without disabilities or caring responsibilities but as a parent of a young child it’s just an infuriating reminder of how everyone else is getting ahead while we clean weetbix off the floor. This book is amazing. It's clear, practical, effective and an easy read. After reading Unshakeable and MONEY Master the Game: 7 Simple Steps to Financial Freedom, this was a bit more easy to implement as it is specifically targeted towards Australia, where the above two books are targeted towards the American economy. Additionally, Scott provides advice that is easy to action. Hopefully now that one of the world’s biggest fund managers – with a relentless focus on lowering costs – has set up shop, they’ll keep everyone on their toes. Instead, Vanguard’s offering is a life cycle fund that invests your super based on your age. In simple terms, they automatically reduce the amount of riskier assets, like shares, in your portfolio as you get older and closer to retirement. In all, they make 36 of these adjustments up to your 83rd birthday (with no switching fees), which is far and away the most comprehensive of any Australian super offering.

It's about this point that I start to understand why he encourages the reader to drink so much. You need a glass or two under your belt just to get past all the bullshit. It nails down to scripts to empower you to talk with your bank manager, super-fund manager, insurance brokers etc; and what to look out for in terms of fees and costs on everyday bank accounts/credit cards etc etc. Beating the banker is a key aim, and who doesn't like the idea of that? With house prices at a record high the year the book came out, should young people even try and enter the housing market? “I meet a lot of people in their 60s, 70s and 80s and if you don’t own a home then, life is really tough,” he says. “So: yes. Just get a mortgage that you can manage.” Losing everything changes your focus,” he says. “When you see all your worldly possessions burn in front of you, it changes your perspective on ‘stuff’. It made me realise the only thing left is memories and experiences. Everything else is replaceable.”

Find the super fund with the lowest fees and roll everything over to that. The author recommends Hostplus. The recommendation is also to salary sacrifice into your superannuation so that 15% is going in. If you're in the public service you won't need to do this, but the rationale is that the mandatory 9.5% is often insufficient to build a big enough nest egg for retirement. I’m writing on behalf of my mum, who is distressed about the upcoming changes to superannuation. She is a widower who has worked hard all her life, saving like crazy to ensure she had a secure retirement (believing it was her responsibility not to be a burden to society via the pension) and to leave a tidy nest egg for her kids.Reason being, Australia has a rapidly aging population. Looking after old people is expensive. As are programs like the NDIS. Someone needs to pay for it, and the heavy lifting will come from the wealthiest people in our country. As with any holy text, the book is based on a few core tenets. Readers are instructed to embark on monthly date nights, replete with garlic bread and wine, to discuss their finances and put the Barefoot theology into practice. Still, that’s how most of our biggest super funds roll: they throw everyone – young and old – into a one-size-fits-all investment pot. You’re an awesome, well-meaning dad trying to help out your kid, and it’s a disgrace that it’s this hard.

Pape has also hosted and produced the shows Money School and Money Movement for Foxtel. [6] Newspaper column [ edit ]Most of the stuff we buy ends up in the garage/garbage in a landfill and is a waste so stop buying so much stuff Perhaps it’s safe to assume that financial structures will be similar for the next decade or two, so the advice about investing in super etc is good for anyone retiring in that time, but I’m 32, and frankly am not confident that we won’t see the collapse of global financial systems between now and my retirement, which makes planning more difficult. In 40 years, superannuation could collapse and governments may not have the money to bail everyone out - it’s riskier for us youngens.

However, what most Australians are really worried about – and what the media have jumped on – is whether this move by the Government is the ‘thin edge of the wedge’. Reason being, in the current climate there’s a very real possibility that you could be underwater for many years. And the truth is that whether you’re 35 or 65, once you’ve comfortably covered the basics, having more money won’t necessarily make you any happier. stars for the financial advice, 1 star for tone, which is probably best described as 'patronising Aussie bloke'. God knows there are enough of those around already. His weekly finance column, syndicated in News Corp papers, and his newsletter (sent to clients in his financial advisory firm) helped with book sales, but Pape’s approach to publishing has been novel from the start. He put his current book out to tender, paying publishers to print and distribute it, but he retained ownership of all the rights. This is in contrast with a typical publishing deal, where authors get an advance on royalties but a much smaller cut of any profits.However, the media has not ignored it – it has instead entrenched it. And in doing so it’s created a much bigger problem that affects millions of retirees, both wealthy and poor: they spend the little time they have left worrying about money, and hoarding it, instead of enjoying it. Postcode povvos’ are the people that live in places like Balmain and Toorak. They live in trophy suburbs but they don’t have enough money for a coffee. These are the most financially insecure people I meet. They are borrowing too much to get in to one of these suburbs.”



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