Money Over 50: Recent Episodes
Dallas & Michael of Money Over 50 Financial Advisers
An Australian podcast that provides useful information on retirement planning, superannuation, and the financial world in an easy-to-understand manner. Contact the financial planning experts Michael Hogue or Dallas Davison of Money Over 50 Financial Advisers via email podcast@mo50.com.au
Have you ever looked out over a city skyline and got lost in thought about all the houses in the distance, wondering what the people inside are doing, and thinking how each night the city looks so peaceful and calm and yet the following morning those people will be up and about getting on with their daily lives again?
This was the case for Dallas last week when he went up to Castle Hill in Townsville to look out over the city. Except, of course, his daydreaming didn’t last very long – he was driving around slowly, trying to get his four-month-old daughter to sleep.
In this episode, Dallas and Michael discuss how, even during bad times in the sharemarket, the world still keeps moving, and things aren’t as dire as they seem.
For more information, please visit www.mo50.com.au
What makes prices fluctuate? Why is petrol so expensive right now? Do companies ever run out of shares? Why do some countries ration supplies?
In this episode, Dallas and Michael answer all of these questions and more, looking at the impact that supply and demand has on our everyday lives.
For more information, please visit www.mo50.com.au
Do you own a commercial property, or thought about using the incoming rent from one when you retire? While rentals can bring in a good income, there’s a big difference between commercial and residential rental income. And it’s important to know how that difference will affect you once you have retired.
In this episode, Dallas and Michael discuss drawing an income from rent during retirement, and whether commercial or residential is the better option.
For more information, please visit www.mo50.com.au
Sometimes, you need to put your happiness before your job. Easier said than done, right? But if you’re close to retirement and you’re extremely unhappy in your job, perhaps it’s time to let it go. But how do you make that call, and how do you know if you’ll have enough money to retire with?
In this episode, Dallas and Michael discuss why money isn’t everything (yes, they are still financial advisers!), why it’s okay to give yourself a break, and how to navigate big decisions about work and retirement.
For more information, please visit www.mo50.com.au
We need to talk.
That sounds a little awkward, doesn’t it?
If you have a partner and you want to have a discussion about your finances, perhaps start with a slightly less scary phrase! That said, it can still be a very difficult topic to approach with your partner, especially if they think they have everything under control and are used to taking care of the financial side of things.
But could it be time for you to take over? Is it your turn?
In this episode, Michael and Dallas discuss how to approach this conversation, and why it’s imperative that you do it sooner rather than later.
For more information, please visit www.mo50.com.au
What does MC Hammer and your superannuation have in common? You guessed it – you can’t touch either of them!
Well, that is, until you are of retirement age. In this episode, Dallas and Michael will not only get a catchy song in your head, they’ll also discuss why not being able to touch your superannuation is an advantage rather than a hindrance.
For more information, please visit www.mo50.com.au
Do you have a financial adviser or a financial salesperson? And what exactly is a chameleon adviser?
In this episode, Michael and Dallas discuss what chameleon advisers do and why you should avoid them. Who is actually telling you the truth and giving you good advice when it comes to your money?
For more information, please visit www.mo50.com.au
Tax evasion or tax minimisation – what’s the difference? According to Kerry Packer’s famous speech during a parliamentary hearing, a lot. And if you’re not trying to minimise your tax, there might even be something wrong with you, according to Packer.
In this episode Michael and Dallas discuss the difference between the two, and why you should be trying to do one of them (hint: it’s not the illegal one).
For more information, please visit www.mo50.com.au
In this episode Dallas and Michael visit why it is important to Diversify. By diversifying we mean spreading your eggs in more than one basket!
Michael and Dallas discuss the benefits of investing your money in the market, ensuring it is well spread across the top major companies, hence minimising potential losses, whilst still making returns.
For more information, please visit www.mo50.com.au
It’s easy to see retirement and work as being black and white – you’re either working or you’re not. But when you retire, things don’t have to be that way.
In this episode Dallas and Michael discuss why working during your retirement can be a good thing, how to balance it, and some things you could do to earn money that you may have never considered before.
For more information, please visit www.mo50.com.au
How much can you REALLY work during retirement without paying a cent in tax?
Many people know that their account-based pension is a tax-free income. But you can also earn a significant amount of money by working part time to boost your bank balance once you’ve retired. In this episode, Dallas and Michael respond to a listener's question and discuss SAPTO (Seniors and Pensioners Tax Offset), super and income tax.
For more information, please visit www.mo50.com.au
Jerry Seinfeld is a hero when it comes to comedy. In our eyes, he can do no wrong! But when it comes to stocks, his strategy on the show is slightly more like gambling than investing …
In this episode, Dallas and Michael discuss how you can be smarter than Jerry when you invest, and why a diversified portfolio is less volatile than a term deposit.
For more information, please visit www.mo50.com.au
If you had a choice between going out for a nice dinner once a week and having a new car every three years, which would you choose? What about if you had to choose between going on a three-month holiday around the world and getting a full renovation on your house, including brand new furniture?
In this episode, Dallas and Michael discuss how you can use your money as a medium to buy possessions or experiences. You’re in the driver’s seat. Which would you choose?
You may earn a ton of cash and still be broke in retirement. How is that possible? Well, your retirement wealth depends not just on the money you make, but on how you transfer those hard-earned bucks into experiences and possessions.
People have different ways of viewing money. But money is simply a “medium for transferring work and enterprise into possessions and experiences”. In this episode, Michael and Dallas discuss why your income isn’t the only thing dictating how wealthy you will be in retirement.
When you were a kid, do you remember visiting friends’ fancy houses and comparing them to your own? For Dallas, the epitome of a fancy house was one that had an ice maker. If one of his friends had a house that featured one of these, in his eyes, they had really “made it” in life.
As an adult, Dallas is now contemplating becoming one of these people. Yes, he wants a fridge with an ice maker, because – well, they’re pretty cool. So should he spend the money on it, and when? And is it really worthwhile?
This episode is not about fancy fridges or rich friends – it’s about making thoughtful financial decisions. Dallas and Michael discuss what and when to spend your money on (and when to hold onto it, instead). Spoiler alert: when it comes to your money, financial advisers are not always as frugal as you may think!
If you are married or in a long-term relationship, then your money is all in ‘one bucket’. According to family law (and Centrelink), you and your partner don’t have separate money – regardless of who earns more.
However, there are ways that you can benefit from paying less tax based on how you treat certain assets and whose super you put more money into. Don’t worry – it’s all legal! In this episode, Dallas and Michael explore how to keep as much of your taxable income as possible, and why your money is really all in one bucket.
Need to send money overseas? Or going travelling? Are you prepared to lose thousands in currency conversion fees, and happy to keep the big banks in business, who – for far too long – have controlled international transfers?
As you can see by our excessive use of questions, we’ve been looking for a cheaper way to deal with overseas money transfers for a very long time. In this episode, Dallas and Michael discuss who to use and why (we’ll show you how to save thousands, literally). For more information, please visit www.mo50.com.au
Do you keep your car neat, clean and polished? Or do your kids, pets and habits stop it from keeping its new car smell and appearance beyond its first week?
Don’t worry – we understand. Surely, if you bought a brand new car, you’d look after it better. Right?
Well, actually, you probably wouldn’t! In this episode, Dallas and Michael discuss how possessions affect us as people, and us as decision-makers – and how advertising fuels us to make purchases that won’t necessarily fulfil our needs.
For more information please visit www.mo50.com.au
Predictions and projections we make about money are always wrong. In fact, they are wrong from the minute they’re produced. So why do financial advisers use them, if they’re never right? In this episode, Michael and Dallas look at why projections are important, and how to use them even when we know they will be incorrect.
For more information please visit www.mo50.com.au
On average, we see a drop in company prices of about 30% every 5 years. If you’ve listened to us for a while, you’ll know we often talk about not panicking when this happens. But why is this important, and exactly how important is it? In this episode we discuss how not preparing for a drop in the share market is like not listening to the lifeboat drill on a cruise ship. Spoiler alert: it doesn’t end well.
If you wanted to lose weight, would you sit on the couch eating donuts, or have a salad and do some exercise? The answer is simple, yet many people don’t achieve their goals. Often, we want things to happen right away. This is instant gratification. And like losing weight, saving money and preparing for retirement is a long game.
In this episode, Dallas and Michael discuss the difficulties of investing in the long term – and why some people succeed while others don’t.
What happens when your finances are on track and you’re getting your 8% rate of return? Is it time to spread your eggs and diversify further? Or perhaps buy a property? Is being invested in super really enough – and what if my fund goes broke?
In this episode, Michael and Dallas discuss these questions in relation to those close to retirement.
For more information, please visit www.mo50.com.au
Do you remember when Mcdonald's ice cream cones were 30 cents? Dallas and Michael certainly do. But if you were to go and buy one today, you’d be handing over 75 of your hard-earned cents.
In this episode, Dallas and Michael discuss how bigger expenses in life (though potentially less enjoyable than a Maccas soft serve cone) go up with inflation, and exactly what this means for you and your retirement planning.
For more information, please visit www.mo50.com.au
We've all had a stock tip for some speculative company before, with some being winners and some losers... But should we be basing our retirement strategy on this?
For more information, please visit www.mo50.com.au
In financial planning, it is almost impossible for you to be absolutely precise in what the future will look like. For example, there is no way to figure out what inflation will be each year in the next 10 years. However, we do know that it will likely increase, therefore, we must include this in our calculations to help prepare for the future. You will never be exactly right, but heading in the right direction using the information at hand is absolutely important.
For more information, please visit www.mo50.com.au
When it comes to living a long life, eating healthy is one way to help make that happen. However, it does not guarantee that you will not get sick or become a victim of an unfortunate event. Saving money and making the right financial decisions is similar to this, as there is never any guarantee that something might not happen in the future to derail your plan. Even though this is the case, giving yourself the best opportunity for positive outcomes can still pay off!
For more information, please visit www.mo50.com.au
Volatility is a natural occurrence when it comes to investing, especially when invested in companies. We know that if you want to achieve long-term positive returns, you will be met with short-term volatility. You must accept and embrace the knowledge that a drop of 50% WILL happen; it's a matter of when not if.
For more information, please visit www.mo50.com.au
Some listeners to the podcast will tend to think of money as either a safety blanket that can protect us from the dangers of the world, while others may think of money as something that is unreliable. It can become hard to manoeuvre when each member of a couple sit on the opposite sides of these conflicting thoughts, or an individual is stuck with these conflicting thoughts internally.
For more information, please visit www.mo50.com.au
In 1992, the Superannuation Guarantee (SG) was introduced in Australia which required employers to contribute money into their employee's super fund. A large amount of our advice is focused on taking advantage of this amazing low-to-no tax environment to help you build your retirement savings.
For more information, please visit www.mo50.com.au
Michael speaks to Dallas about the visible and hidden benefits of going back to paid work (in some form) after already retiring.
For more information, please visit www.mo50.com.au
One of the quickest ways to derail your retirement or investment plans is to PANIC! It might be hard not to react, but panicking at the sight of downturns can undo all of your hard work.
For more information, please visit www.mo50.com.au
Dallas discusses with Michael his thoughts on the planning of providing an inheritance to children. There is no right or wrong answer on whether you should leave an inheritance, however, there are a few things to take into account when planning for this.
For more information, please visit www.mo50.com.au
In this episode, Dallas & Michael explain why "stock-picking" questions can be some of the least valuable questions that you can ask at a particular time. Our objective for our clients is to increase the outperformance of long-term outcomes by looking at their goals, creating a suitable plan, then determining the portfolio.
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
We had a prospective client show us retirement savings projections from their industry super financial adviser who had factored the client running out of money into the plan. We think this is a dangerous plan, and in this episode, we'll explain why. Note, we are not saying that all industry advisers do this; this is only based on what we have seen.
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Michael & Dallas answer the following listener question from Adam: "Where do you draw your pension from (investment options) & what stage of a downturn would you decide to draw from your cash reserves?"
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
This listener question from Darren asks about the specifics of drawing an income from your superannuation when you retire. Michael and Dallas discuss the the account-based pension (not to be confused with Centrelink Age Pension) and answer the following question:
- How is income normally distributed?
- How does an account-based pension work?
- Do you constantly need to sell down shares?
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
In financial planning, a lot of the decisions you make involve giving something up to get something back. For example, you may have to reduce your income by $10,000-$20,000 p.a. while you're working to be able to get into the position that you need to retire comfortably. Life is full of trade-offs, financial planning gives you the information to make those fully informed decisions, but there will always be some form of pain. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Michael & Dallas discuss the benefits of discipline when investing for the long term. When it comes to building wealth, delayed gratification tends to play a huge role.
The Baltic Dry Index (BDI) is an index of average prices paid for the transport of dry bulk materials across more than 20 routes. It can be used as an indicator of global economic activity. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Dallas & Michael discuss a client case study of Dallas'. Dallas goes through all the steps that were involved in getting them into a position to work part-time, allowing them to do more of the things that they enjoy, such as travelling. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
We believe that you should be invested predominantly in companies throughout your lifetime. In this episode, we tell you how much company prices and dividends have grown over 30 years, and why this is important to protect yourself against the rising costs of living (inflation). For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
We now charge a fee for your Initial Consultation with Money Over 50 Financial Advisers of $990 inc. GST. This fee covers our time to prepare for the meeting, hold the meeting, and provide any follow-up information necessary. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
In our industry, it is common to see investors become fearful that bad times will last forever. There will always be forces at play that will work against this. Things will never get as bad you think they will, and if they do, there's nothing we can do about it. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Relying on cash to support you throughout your retirement can be incredibly hard; there is little to no growth, and the world is only getting more expensive as time goes on. You want to be able to set yourself up in a sustainable way that can continue to grow and build throughout the long term; this is where investing in companies can help. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
It's easy to get used to any surplus cash and to spend it on things that hold no value to you. That's why it is important to invest any surplus cash that you may be earning, to prepare for those times when you do need it.For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Michael and Dallas discuss the odd thought that "large companies are incredibly greedy, and are risky to invest in". If a company is greedy and earns a lot of profit, why would it be considered risky? For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
When it comes to saving for your retirement, one of the easiest mistakes to make is to not have a role for your money. A common example of this is to have more cash than needed sitting in your bank account earning an interest rate much lower than inflation; it could be put to much better use being invested in the top companies of Australia and the world. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Whenever we see grocery prices down at the supermarket, our instinct is to scoop up more of the discounted items that we want. In investing, however, a large drop in prices tends to deter the average person. What if it could be an opportunity to purchase company shares at a lower price? For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Just like in racing, it may seem like you've landed yourself a win, however, things can change unexpectedly and leave the results out of your favour. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
The media loves to tell you how badly you need to get out, but never give you any accurate details. In fact, when it comes to listening to the fearmongering that the media and so-called industry experts spread, more harm is done than good.
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Michael and Dallas discuss a few reasons as to why being invested in balanced funds are not in the best interests of retirees. These disadvantages range from the investment strategy being more invested in cash than you may be able to afford, to not being to determine where you draw your income from during periods of low prices. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Michael & Dallas discuss the huge difference between the financial position of a person who has & who does not have "thoughtful, considered & delayed spending". Impulse buying can be detrimental to your retirement savings; keep in mind, it's not the small costs that have this impact, it's the LARGE purchases.
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Investing your money in the right assets and having those dividends reinvested has a HUGE impact on what your future retirement savings look like. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Your life is full of personal milestones, and your retirement plan is built with goals that you need to meet. So, when it comes to reaching your retirement, the time is yours to enjoy. You need to become comfortable with the idea of there being no "next thing" or you need to find something that helps you feel valuable.
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
It's important for your investable assets to have a job i.e. to grow your wealth or to remain as a buffer in case of volatile times. A lot of investors have this down pat when it comes to their assets outside of superannuation, but they have no idea about the asset allocation of their superannuation. If you have a significant cash buffer outside of superannuation, it may be worth having a look at how your superannuation is invested (especially if you have a pre-mixed option, such as conservative or balanced).
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
When sellers in the share market or any market (e.g. fruit market) outweigh the number of people willing to buy, then the price will need to reduce in order for someone to sell that share. However, if you do not have any plans to sell during that particular time, the volatility (reduced selling price) should not even be relevant to you and your shares.
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Michael speaks to Dallas about the power of consistently making small incremental moves towards your retirement plans rather than feeling the need to overextend yourself and risking derailing your retirement.
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
The role of media is to serve those tuning in with stories that will keep them coming back, 9 times out of 10 it is a horror story of some sort because this is what keeps people coming back (especially when it comes to the economy). This paints a negative picture of the future, even though life is generally getting better for the world. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
We believe in making sure that we are the right fit and that we can add value to your retirement savings. That's why our 1st meetings with potential clients are always free. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
In this episode, Dallas & Michale discuss retirement fears - fear, loss & limitation.
Lack - is the fear/belief that you will never have enough to retire.
Loss - is the fear of losing money through events such as volatility.
Limitation - is the fear that when the assets you are invested in a drop in price, and that they never come back up. It is also the fear that when you retire, no one will want to employ you again.
For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
This episode has Michael & Dallas discussing how simple it can be to get ahead financially, but also how hard it can be to not make an error through panic. Michael uses a real-life example of investing at the worst possible point in time (i.e. right before the Global Financial Crisis), explaining how keeping to the plan and not panicking creates a positive outcome. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Using boxing/fighting as an analogy, Dallas & Michael explains how there will always be a pain when investing in companies through the effects of volatility, however, staying invested in great companies and sticking to a plan allow them to have the best chance to reach their goals. On the other hand, those who stay on the defensive and invest heavily in assets like cash (to reduce volatility), open up the risk of not lasting the whole retirement. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
In this episode, Michael & Dallas speak about how long it takes to earn $100,000 from your investments. They demonstrate the amazing benefits of compounding, showing the reduced time it takes to make the "next" $100,000 as your investments continue to grow. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
As we all know, we are constantly being fed with horror stories about our future, particularly when it comes to economics. However, true poverty is reduced each year allowing people to meet their basic needs (e.g. food and water); further to that point, more and more people are reaching the middle-class. The increase of other people's wealth is great for those who own shares in great companies, as people now have the ability to spend, therefore, increasing the value of companies. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Michael and Dallas discuss fear in investing in companies using real-life examples of the GFC and the Covid-19 Pandemic. They explain that volatility is a part of long-term investing, and the mistake usually comes from panicking at the wrong time. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
You shouldn't be planning for your retirement to be a lesser lifestyle than what you are currently living. Retirement should be a time of abundance and doing the things that you actually enjoy, this is why it's important to have a carefully considered plan that focuses on this. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
In this episode, Michael & Dallas discuss the differences in returns between having invested the same amount of money in a Sydney Property and CBA shares. The results will surprise you, especially if you belong to a specific demographic! For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
When you think of saving for retirement, you'll think of saving with money/capital. However, there are some people that have worked hard and helped others throughout their life to such an extent that they tend to receive help from those others whenever they need it. These people tend to continue to do some form of work until the day they die; they truly enjoy living this way because they value being an involved & contributing member of their society/community. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
This episode has Michael & Dallas discuss the risk of investing too conservatively, comparing it to fighting for sport, and how it can become a huge factor in why a retirement plan can get derailed. They also discuss the importance of never panicking during times of extreme volatility. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
Not long ago, many people believed cash and term deposits to be the "safer" option when it comes to investing. Nowadays, low interest rates have made these assets some of the most dangerous due to creating the risk of people running out of money prematurely. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
If you were to spend $80,000 p.a. in your retirement, you'd spend almost a quarter of a million dollars in the first 3 years of retirement. This is why it is essential that you have your money invested in assets that not only grow up to your retirement date but throughout your retirement as well. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
One of the roles of a good financial adviser is to help you build better habits with your money; the job becomes hard when they have no idea what your current habits are. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
When it comes to making decisions, it's often hard to make the right financial decisions because you'll usually feel uncomfortable in the short term, but after a bit of consistency and effort, it becomes easy and you'll be glad you have done so; much like eating healthier or exercising more. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
As we have said many many times, diversification is important to any investment portfolio. Global companies offer diversification away from Australia and can help protect you from market/economic issues that only affect the Australian economy. *Please note, we are not providing advice in this episode. This is general information only. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
The question discussed in this episode: "I am a regular listener and have you given you the 5 * rating. Thanks for the latest podcast, interesting. A big gap for me however was, you are assuming everyone is working until they are at least 60. What about those people who want to retire before they are 60, where investments outside of super are essential, or where there is an age gap between the partners and one retires at 60, but the other's super can't be accessed for a few years. Investments outside of super may be required for supplementation. Can you provide some thoughts on this?" Thanks Glenn for the excellent topic. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
The role of a portfolio/fund manager is purely to work money and get the best return. We believe a good financial adviser spends most of their time with clients discussing what is most important to them and personalising strategies based on a client's needs. For all listener questions/feedback or to book a meeting with us to discuss your plans, please contact the team at podcast@mo50.com.au.
QSuper and many other superannuation funds have a default investment strategy that automatically invests your money in different assets determined by your age. These strategies, commonly known as life cycle investment strategies, assume that you are becoming a short term investor with the goal to reduce your investments in growth assets (such as company shares). What it fails to mention is that you lose the ability to grow your retirement savings leading up to and throughout retirement, increasing the long-term risk of running out of money. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Industry funds around the board have pushed the message that "everything we do is for our members" implying they are doing what's best for you and that they are providing you with the lowest costs. However, when it comes to costs, industry funds aren't necessarily giving you the cheapest costs. In this episode, we list the largest industry funds and their costs and comparing them with other (more affordable) products. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
We have come a long way from our first podcast "001 Downsizing your home, instead of your lifestyle", especially with the quality of our production and the number of real listeners. However, the goal has remained the same, to provide useful information to our listeners that can help put them on track to the retirement they deserve. This episode discusses some of the main points over the years, our growth as podcasters, but more importantly our growth as a business. We have evolved from providing financial advice to our local area, to having clients all over Australia. Thank you for being a part of the podcast, and we look forward to speaking to you soon! If you wish to book a meeting with Money Over 50 Financial Advisers to discuss your retirement plans, please contact podcast@mo50.com.au or visit www.mo50.com.au
A great listener question to discuss, but the answer can vary greatly depending on the particular person this relates to. However, a few of the main options for you to look at.
- Going back to work (even if it is a small amount of part-time work).
- Looking at your Centrelink eligibility and determining how much work you can do without negatively affecting your Centrelink payments.
- Looking at your budget and spending less money.
- Selling down your assets and turning them into useable cash.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
When it comes to buying a car, a lot of people tend to look past the opportunity costs and how much of a difference they could possibly make to their retirement savings. We practice what we preach, and can vouch for the huge amount of ongoing savings made from driving a $15,000 car. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
If you haven't already, have a listen to one of our earlier related classics: 003 Drive a $15,000 car to draw an extra $717,000 in retirement.
In this episode, Michael and Dallas respond to a listener question on investing money outside of superannuation. They explain why they believe in the same investment philosophy (in terms of assets), but reiterate the huge tax benefits of having that money in superannuation rather than outside of superannuation. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
We often have people wanting to book a meeting with us but have a partner who is not too keen on seeing a financial adviser. We make it a rule to have both partners on board with the idea of seeing a financial adviser because it becomes incredibly hard trying to provide advice to people who have very different ideas on what their retirement plans should look like. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
In recent times, people have been thinking of $100,000 as a small amount of money when it comes to spending. So, why not think of it as an amount that can be saved in your superannuation? An extra $100,000 investment could mean extra holiday money of $20,000 each year for 25 years! For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Retirement is a huge change in somebody's life and their current lifestyle, in many cases this adjustment might be too much. Michael and Dallas discuss different ways that you could test out your retirement lifestyle before actually retiring, and figuring out whether your retirement plans might be right for you. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
This episode discusses the big difference that a small change can make to your retirement savings balance, and how a combination of these can make an even larger difference. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
All the data and information needed to create a financial plan is accessible, however, it usually isn't put together in a way that can help you make a well-informed decision. It's our role to pick apart all of this data and piece it together in a way that allows us to provide you with actionable steps. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
When a bank does something that reveals a lack of care or understanding, don't be shocked or surprised; it's their role. Their primary role is to bring money in and lend it out at a "mark-up", so don't assume that the bank will have your best interest at heart. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Thank you for the listener question Colette. This episode explores Life & TPD cover and the types of questions you need to ask yourself when it comes to determining how much insurance cover you may need for yourself. Please note, we are not providing any insurance advice in this episode; we are only exploring different thought processes and trade-offs in the decision making process. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
One of our abilities that we pride ourselves in having, is being able to see what our client's natural strengths/attitudes are, as well as their weaknesses. These can range from savings abilities, capacity to earn income, or even the ability to follow instructions well. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
When it comes to retirement savings, there are a select few numbers that are more important to your retirement savings than others:
- 8% - Average a return of 8% every year through investment.
- 5% - Draw an income of 5%.
- 0% - Pay 0% tax on your income.
- $1.6M - The amount a couple may need for a comfortable retirement.
Keep in mind, these are just the average figures that we tend to see. In reality, these can look very different depending on your lifestyle and goals but the concept remains the same. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
When borrowing money, you are making a decision now that your future self will need to pay for (in the form of loan repayments). It's important to truly think about whether or not your future self, which is still you (don't forget), will be happy with the purchase you make today. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
In this episode, Michael and Dallas discuss why 60 year olds are much more employable than they think, especially in regards to doing part-time work in retirement. When you are 60 and actively pursuing work, it is most likely that you are full of desirable traits e.g. great work ethic, reliability, & enthusiasm. Just go for it, and you'll surprise yourself. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
The old saying "no news is good news" holds true in the world of financial planning. The benefit of a good financial adviser is that they are able to put effective plans in place that make sure you are doing all the right things. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
When you are 45 years old, you're life goals and focus are distracted from retirement as you tend to have so many more things to worry about. Once someone hits 50, they tend to switch their focuses on planning for retirement and doing what they need to get in the right position. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Clients often wonder why I'm able to predict how certain decisions will affect them financially and emotionally in the future. A combination of expertise and experience has given us a type of "muscle memory" allowing us to see the consequences of most actions. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
It's unfortunate that we live in a world where service providers are able to take advantage of an information imbalance between them and the consumer, and effectively "steal" from them. This episode provides some tips on how to avoid the crook/charlatan. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
I think it is relatively safe to say that most people would prefer to not go to any doctor's appointments, they just want to be healthy. The same is likely to apply in financial advising, they just want to make sure that they are going to be OK. It's our job to make sure that our clients are doing well; if we can determine that they are financially "healthy" then we'll give them the option to come in for their meeting or enjoy their life. If you don't need or want to see us, go ahead and enjoy your financial freedom. We'll still be here making sure that you're going to be OK. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Getting your retirement savings to where you need to, requires both hard work and good work. Are you doing the work that you need to do, and are you doing it in the most effective way? A combination of your hard work and our good work can ensure you make the most out of your wealth-building efforts. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
When it comes to growing your retirement savings, there are many steps that you will need to take! Here, Michael and Dallas break down these steps and help you understand what it is that you need to do to really make a difference to your wealth. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Dallas and Michael discuss the difference that an extra $100,000 (or any other amount) can make to your retirement income. They reveal how long this money could last to help fund extra discretionary expenses, such as travel. How much income can you draw from an extra $100,000 in retirement savings. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Dallas & Michael discuss interest rates, more specifically, they focus on some of the reasons why you might be better off with a variable interest rate loan. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Your home is a consumption item in the same way that you're car is a consumption item. Just as you are not going to expect your car to generate you a return, you should also realise that your house will have it's own running costs &/or depreciation costs. It's not to say you shouldn't own your home, because it's an important lifestyle choice of many Australians, you just need to be honest to yourself on the costs and can sustainably do that through your retirement. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
In retirement, if you can run one vehicle rather than two, you'll be able to save yourselves a few thousand dollars each year to spend on something you'd enjoy much more. Of course there'll be times you and your partner may need a separate car, but owning a second vehicle isn't the only option. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
David Lee Roth from the band Van Halen set up an ingenious visual safety clue inside the contract given to venue staff/promoters to ensure that everything was set up correctly... there were to be no brown M&M's in the bowl they'd receive an hour before their show. We have to rely on third parties such as superannuation funds for the safe custody of our client’s life savings. As our clients work for all manner of different employers who have different preferred third-party superannuation funds as default providers, we have gotten to know which providers remove the brown M&M’s and which providers don’t. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
As a person living in our current age, it is pretty easy to fall into the trap of constantly worrying about money. However, when you have a really good think about what's available to us now (modern medicine, air-conditioning, surplus of food, machines that drive us between locations, etc.), you can see that life is actually pretty good. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Capital Gains Tax can cause the net earnings from the sale of a business asset to be significantly reduced. In this episode, we discuss small business CGT concessions that can help provide HUGE tax savings if you were to meet the eligibility requirements. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
We've discussed why someone should setup their own business in semi-retirement and type of people who would benefit the most from this. Now we'll discuss how to do this, or more specifically, what things you should look out for and what to avoid. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
In the previous episode, we discussed why someone should setup their own business in semi-retirement. In this episode we discuss who can really benefit from having this in their financial/life plan, and looking at who this might be a bad idea for. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
One option that a lot of people tend to not think about, leading up to retirement, is to setup their own business doing something that they are passionate about and enjoy. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Spending is down and savings are up…. Your typical news headline during a recession. This is always portrayed as kryptonite for companies, however, the last time that we checked, "no one is raking up cash and setting fire to it!" (Michael Hogue 2008). Since the dawn of time (another classic claim that Michael often overuses to start a sentence) companies have been adept at moving quickly to reduce costs when spending is down, then ramping up quickly when spending is up. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Setting up an investment for the kids/grandkids used to be a fairly hard and costly process. Nowadays, there are programs out there that are easy to use and allow you to start the investing process with only a small sum of money. One of the programs that we like to use for small investments for our kids is RAIZ. For details about RAIZ, please click on the following link https://raizinvest.com.au/blog/how-raiz-works/
For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
March 2020 the entire country was in fear of not having a job with the outbreak of Covid-19 around the world. In the short space of 12-months to March 2021, the country has gone from "scarcity" mentality to an "abundance" mentality. One such area of expenditure that has increased is luxury cars. Michael and Dallas have observed the significant increase of Dodge Rams (amongst other luxury cars). What's telling about this is that Dodge only launched the Ram in recent years. At the start of 2020, not many Rams were on the road, now, it seems like 5% of vehicles on the road are Dodge Rams. With the average Superannuation balance per couple (age bracket 55-64) being
This episode discusses the new changes to the Australian superannuation contribution caps. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
There's no point wasting your energy on stressing about saving money when you're not going to do it. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
In this episode, we discuss the similarities between retirement plans that fail and the restaurants that fail (as seen on Gordon Ramsay's Kitchen Nightmares), as well as looking at the similarities between a successful retirement plan and a successful restaurant. P.S. we don't yell at our clients the way Gordon Ramsay does. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Investment return is simply a means to achieving a good retirement goal., it is not the goal itself. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Accountants and financial advisers have different goals in mind when it comes to taxes. For an accountant, it may be that they are tax focused for that particular financial year, while the financial adviser may be looking over the longer-term. This isn't necessarily always the case, but it's good to keep in mind that both professions are usually experts in different areas of tax. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
It can be hard to fully grasp the concept of money... thinking of it as a form energy, however, might be an easier way of understanding what it is and how it works. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Adding onto Episode 138 What if I retired and my super dropped by 30% where we looked at the returns you would have achieved if you invested at the WORST time in the last 30 years (e.g. at the top of the investment cycle right before the 1987 Stock market crash and also right before the GFC crash). In this podcast we look at the most likely returns that you would have received over rolling periods of time during the last 30 years. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Focussing on too many things at once is a quick-and-easy way to not get anything done at all. Narrowing your focus can help you fix/improve your weaknesses whilst keeping you from getting overwhelmed. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Using the term "try" can have an affect on the outcome of what it is you're trying to do. Consciously, you want to do this thing but subconsciously you may be giving your self an easy way out. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Our typical 55 year old client usually feels scared when starting their retirement plan, but they come out on the other side with happiness after conquering their fears and being proud of what they achieve. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
It's not difficult to come up with a plan/portfolio but if they don't align with your goals, what's the point? For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
You can do all the planning in the world, but you won't get any further without you actually "doing". For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Being a lender to a company, you can get paid a rate of interest. However, you do not share in the company's profits, that stays with the owner. Would you prefer to be a lender or an owner? For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
The way a human's brain works is fantastic, but they're not all the same; there are some things that are easy for us to understand and some that are a difficult for us. You definitely will not be seeing me paint like Leonardo Da Vinci unfortunately. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
This episode follows on from our previous episode where we discuss "bolting it all together" while you're working. We now dive into the nuts and bolts of the retirement phase. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
We often speak about buying the great companies of Australia and the world, but also super and tax planning, so how does it all bolt together? For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
The final instalment of our "Biases" mini-series has us discussing groupthink, restraint bias, & neglect of probability! A lot of investors may have experienced this firsthand during the Covid-19 pandemic. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
There is nothing quite like how easy it is to own some of the greatest companies of the world. There's not many things that you can be interested in and buy a portion of ownership from without having to do any work related to that business/asset. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Tax deductions are some of the most misunderstood parts of finances in Australia. When people think tax deductions, they think about spending $1 on an item and receiving 39c back whilst losing the $1; when we talk about tax deductions we mean putting $1 away, receiving 24c back & watching the $1 grow to $2. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Retirement is a HUGE chapter in all of our lives... here are 5 rules of thumb to ensure a good retirement. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In this episode, we discuss a hidden tax benefit when turning age 60 and deciding to change job (that you may be able to take advantage of). For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The third episode of the "Biases" explores the biases that push to believe FAKE NEWS. The biases that are explored and how to minimise their effects are incentive bias, hindsight bias, self-serving bias, & narrative fallacy. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
In this episode, we discuss our experience of using one another (Michael & Dallas) as our own financial advisers and reveal some of the advantages we have found. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
As a person saving up for retirement, it is easy to get stuck in the trap of thinking you will be fine because your balance is going up each year. In reality, there is a target you need to hit and a plan that needs to be followed. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
When it comes to holding equities, you'd rather the share price not move upward so fast until you are ready to access them. Cheaper prices = more share purchased. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The second part of our "Biases" mini-series explores why it is hard for us, as investors, to fix our mistake. Our subconscious mind is full of instincts that has been created through thousands of years' worth of evolution; created to help us survive the world. However, a lot of the problems that once affected us are no longer existent/relevant, but our instincts are still there. The biases discussed are: loss aversion, endowment effect, anchoring bias, status quo bias, & familiarity bias. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
When it comes to equities, the media and "analysts" love to try their hand at predicting what is happening with the markets. Last year should have been proof enough that we don't really know what will happen in the short-term. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss the long-term benefits of being invested in largely diversified equities, and the methods to help reduce the impact of a huge market drop while invested. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode discusses the importance of having a plan personalised to your needs, and not having a multitude of options for you to choose from. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The first of our "Biases" mini-series focuses on why we, as investors make mistakes. This episode discusses and gives tips on how to minimise/avoid the effects of confirmation bias, information bias and oversimplification bias. For all listener questions/feedback, please contact the team at podcast@mo50.com.au.
Michael and Dallas respond to a a listener question from Linda in regards to building a 2 bedroom cottage. We discuss the pro's and con's and weigh this up against her other options. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
When it comes to life and taking control of your finances, don't rely on someone to come and magically save you. It is up to you to realise that you can take control and make a significant change to your life!
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas briefly discuss the Federal Budget 2020 tax cuts and how you can take advantage of it for your retirement savings.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
It's easy to find and create savings to your budget. But, unless you put those savings somewhere and invest (like in your superannuation), you'll find that you'll just spend that money on something else.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Everyone is entitled to their own opinion, however, the facts are the facts. Let's have a look back over the past 30 years and see what this has done for investors.. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael discuss the likelihoods of a lot "what if" scenarios that appear and how much energy an investor should put into these problems. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Last year provided the world with many challenges and reasons for panic. The largest of these being the Covid-19 pandemic which has changed the world we live in and is still affecting our lives to this very day. It was the main cause of the Covid-19 recession, a global economic crisis, which seen some of the fastest plunges in the world's markets ever seen. But the world chugged on, adapted, and seen it's great companies become even greater. We hope your financial adviser advised you not to panic, remain invested, and stick to the plan; if so, we know you're doing OK.
Michael and Dallas discuss the importance of having a financial planner who prescribes you with the "medicine" you need to assist your financial health, rather than a financial planner who gives you exactly what you think you want even if the advice is not necessarily in your best interest (much like a waiter). For all listener questions/feedback, please contact the team at podcast@mo50.com.au
You are fighting a losing battle if you believe that protecting your principal is the goal; you should be focusing on protecting the growth on the income your income produces.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
It's easy to think that financial advisers only crunch numbers to come up with a complex financial plan suited for their clients. In reality, a large part of being a financial adviser is the behavioural advising side. It's all well and good to be able to write up a technical plan for a client, but if we aren't able to remove bad habits and develop good ones, there will be no point providing the client with the plan. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Focusing on the long-term goals, can make life in the investing world a lot easier. It allows you to keep on track with your plans and prevents you from making any rash decisions that may come with short-term issues (such as market volatility). For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Imagine being a part owner of some of the greatest companies in the world and earning an income from them with little to no work. This is the beauty of owning shares in some of the greatest companies in the world.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In this episode, Dallas and Michael discuss the importance of protecting the purchasing power of your retirement savings. As we all know, inflation is a very real thing, and the $1 that you spend this year will be worth waaaaay less in the future. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The simple answer is no. In this episode, Michael and Dallas discuss why Money Over 50 Financial Advisers (previously Lighthouse Financial Advisers Townsville) isn't owned by big corporate and why it never will be. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael discuss the legality of "product kickbacks" and talk about why they never accepted kickbacks, even before they became illegal. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss some dodgy term deposits which are offering more than what our current interest rates usually provide. Smell test: Hogue's Law - "If it seems too good to be true , it ALWAYS IS!" For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss why the biggest problems with our retirement system actually involve us as individual Australians such as:
- We believe it is something that the government takes care of.
- Because super is a legislated 9.5% on your wages.
- Apathy by individuals. Disinterest in our retirement.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Legislative risk is the risk that if legislation were to change it would have a significant negative effect on your investments / retirement savings. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
One of the risks involved with retirement planning is "liquidity risk". Liquidity is the ability to be able to turn an investment into readily available cash, an example of an illiquid asset is property. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode focuses on the frequently asked question of "what if I disagree with what the adviser says?". Michael and Dallas discuss the importance of collaboration and communication in financial planning. The client has every right to disagree with certain things and it is up to the adviser to discuss the trade-offs between a client's decision and figure out a plan that is most suitable to their goals.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss elections and why they do not have an affect on the price of companies in the long-term. Of course individual companies can be affected, but overall the long-term health of a company will usually not be affected. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
When it comes to handling superannuation, simple is best! Simple strategies actually work and when a financial plan becomes over complicated, not only does it make the plan harder to follow but it can also create negative value (think, an unnecessary SMSF). For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In this episode, Dallas and Michael discuss index funds explaining their pros/cons and why they prefer to invest using index funds. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss diversity and how it can lead to better decision making through different experiences, knowledge, point-of-views etc. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss the differences in value and price changes between gold, property and companies. A bar of gold may be worth more now than it was in the past, but it is still just a bar of gold; a Woolworths share, however, is worth much more not just because of a price shift but because Woolworths has moved from just a few stores to hundreds (increase in value).
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Another one of the retirement planning risks... sequencing risk. Sequencing risk is the risk that your withdrawals of your retirement savings are done at the wrong time, causing an undesirable effect to your retirement savings future returns. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Another type of risk involved in the world of investing... business risk. Dallas and Michael discuss how the value of a particular company can fall and steps you can take to avoid this from happening. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This frequently asked question has Michael and Dallas discussing what it is they really do and why they prefer to have their clients living a sustainable lifestyle that can continue on throughout their retirement instead of saving way more or less than necessary. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode discusses one of the more commonly known and feared retirement risks... market risk. The team also explain how the fear of this risk can also cause people to make the wrong decisions when regarding their investments. For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode has Dallas ranting to Michael about why the answer "no" is more than enough reasoning to decline something. This topic focuses on why it is important for someone saving up for retirement to say no and not feel the need to explain themselves all the time. You have a goal and saying "no" will help you reach that goal.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode explains how giving up a relatively small amount of money per week can yield many multiples once you have retired. Give-up X-amount and Get-Back 3x or more!
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This is one of the more underrated, yet important, risks that needs to be taken into account when planning for retirement. This risk is dangerous because it happens slowly through the effects of inflation; now that we are living longer, these effects are much more profound.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Another listener question, this one coming in from Kerry! Michael and Dallas discuss some of the tips and traps involved in owning a small business when it comes to setting yourself up for retirement. An incredibly common example of this is not paying yourself any superannuation.
Michael and Dallas elaborate on the frequently asked questions by prospective and current clients. This particular episode discusses the types of clients Dallas and Michael take in and some of the more common aspects of clients of Lighthouse Financial Advisers.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
If you had the choice of investing in a way that gives the highest likelihood of $2,000,000 in retirement OR invest in a way that gives you a 50/50 chance of having $3,000,000 or $1,000,000 at retirement, which would you choose?
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode discusses 5 luxury goods people have while in retirement, but usually do not realise why it is a luxury. These 5 things are: having more than 10% in cash; owning your own home; having a spare room in your residence; having 2 cars; overseas travel.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
100 episodes for the Money Over 50 podcast! Michael and Dallas have enjoyed being able to provide valuable information to their listeners and are eager to keep on going. This episode will highlight some of their favourite episodes ever recorded, while discussing some of their most important points. We thank you all for tuning in! For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Depreciation is what happens when an asset loses value over time. Some may see depreciation only as the tax deduction that they can claim, but fail to realise that depreciation is really there because the asset in question is dropping in value (through things like wear and tear).
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The last episode discussed when it is a good time to give some money to your kids. This episode goes into detail on how you should be giving money to your kids to ensure you are acting in the best interest of both yourself and your kids.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael discuss the topic of giving money to your kids and give examples of situations that really work well and times that don't necessarily work well.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
On this episode, Dallas discusses with Michael why he has decided to rent again instead of buying his own home and explains why his reasoning sits in line with those a retiree should keep in mind. It all comes back to trade-offs and the lifestyle you truly wish to have in retirement.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
A fantastic listener question coming in from Mike, asking Dallas and Michael to discuss his some options in regards to his situation. This topic explores the situation those who have most of their retirement savings tied up in investment property and the options that they have to help secure a comfortable retirement using Mike and his wife Jannene's situation as an example.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael discuss what it is that a financial adviser actually does for their clients. The role of guidance and direction is just as important as the technical-know-how.
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This episode provides some background on the Money Over 50 podcasters, diving into what their business actually looks like in terms of size.
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This episode discusses the logistics of "profit first" and how you can put the theory into place in your household.
Reference: Book "Profit First" by Michael Michalowicz
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This episode discusses the theory of "profit first" Revenue - Profit = Expenses and why it is better than the old way of thinking of basing your profits off your revenue and expenses Revenue - Expenses = Profit (Michalowicz, 2017). The theory was originally based at a company level, but has been adapted by Michael and Dallas to suit a household.
Reference: Book "Profit First" by Michael Michalowicz
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We know that when betting on a 'sure-thing' racehorse, there is still a large chance that it won't win and you'll lose the gamble. But when it comes to investing in a single company, people struggle to see that it very similar to a gamble. The gamble can be educated, but there is still a very real risk of you losing.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss how a big of a difference a regular investment of $100 can make to your future savings. Have a look at your expenses, is there a spare $100 that is being spent each week on something with little to no value that you could invest instead?
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In life, you'll find yourself making mistakes often and it is no different in the world of investing. But, it is the lessons learnt and the decisions made afterwards that can make a positive impact on your plans.
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Michael and Dallas discuss the importance of looking at the short term objectives and doing the best you can do during those periods. Focusing on your short term objectives can help make that long term goal become more achievable.
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This episode has Dallas and Michael discusses the troubles that can be involved when making financial decisions that are influenced by your fears.
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Michael and Dallas discuss a number of different types of taxes involved in retirement, revealing the most tax effective ways to use your money during this time.
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Dallas and Michael explain how successful investing is not just about buying shares at a cheaper price. To become a successful investor, it is more likely the long term plan that you follow will do you more good.
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This listener question gets Michael and Dallas discussing some of the time frames one might look at when it comes to moving some of their retirement savings into cash. It might not be the answer you have been lead to believe!
Please note, this episode is the 2nd version as the original file had multiple audio glitches.
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This episode reveals 5 legal loopholes/tax-savings that you can use in order to maximise your retirement savings!
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Michael and Dallas discuss how the current day and age makes the possibility of providing financial advice to people outside of Townsville so much easier. They emphasise the fact that their clients who live outside of Townsville or Queensland still receive the same quality of financial advice as a Townsville resident would. There are no location boundaries in Australia when it comes to financial planning with Lighthouse Financial Advisers.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The first of our new "Listener Question" episodes has Michael and Dallas discussing the importance of building your retirement savings even as a low income earner. They reveal strategies and tips that can help these low income earners maximise their retirement savings as much as possible.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In this episode Michael and Dallas discuss how being a risk-averse investor doesn't get rid of risk for you as an investor. Instead, you create a trade-off and shift that risk over to a different area.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss the importance of being in a position to meet living expenses and unexpected costs when things change, without needing to sell down your investments at discounted costs. Dallas emphasises that it does not mean for you to hold off investing to try and time the market.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Financial planning is all about trade-offs, and a lot of the time people don't understand the ramifications their financial actions can make. Having an understanding of what matters and what doesn't can help you see the big picture.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode looks at a case study for a stereotypical client couple of Dallas'. Using their example to highlight the importance of having a viable retirement plan and taking the steps needed to achieve it.
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When it comes to saving money a lot of people think that it's their willpower or lack thereof that dictates how much they save. But in reality, it's a persons processes and habits that actually make the difference.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
It is said that when breeding cattle, especially in North West Queensland, you want the base of your cattle to be a tough breed (Brahman) that can withstand drought and low nutrition, and you want a softer British breed (Charolais) to go over those cows. The theory is that the progeny of that first cross will be better than both original parents, and would be better than the offspring of a cross bred cow and bull. This is how we look at the way our clients money should be invested, where short-term and long-term money should be separated in different asset classes and not mixed together.
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When coming into retirement a lot of questions may run through the heads of the near retirees both consciously and subconsciously. These thoughts can be associated with financials, or even just wondering what you are going to fill your time with.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael share 3 common strategies that they use with new clients to help them reach their retirement goals. These immediate changes can also be put into place by you, the listener.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Creating the plan is all well and good but without any action being taken, the plan doesn't mean too much. We are lucky enough to have Kylie, our Director of Financial Doing, and she is the one who gets things done.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
At Lighthouse Financial Advisers Townsville we pride ourselves in being retirement specialists, focusing on people over 50. This episode dives into our reasoning as to why we decided to focus our time on these people.
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This episode discusses the importance of utilising the concessional contributions cap each year, and the new carry forward rule which allows you to make use of missed concessional contributions from previous years.
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It has been 3 weeks since our final Covid-19 update, but after seeing such positive movements in the financial market recently, we thought it would be good to discuss how the world has finally got some wind back in its sails.
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Another real-life case study on a client couple of ours who achieved their retirement goals even with job changes happening late in their working life.
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This case study focuses on the retirement plans and outcome of a single woman who wanted to be able to retire early and still have the ability to travel each year up until retirement, retaining a good balance of life.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode discusses why investing in growth assets is not a perfect form of retirement planning, but compared to the other forms it is the best way.
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Dallas and Michael discuss two different methods of maximising your concessional contributions in order to increase your tax savings, explaining why they prefer claiming a deduction on after-tax personal contributions to salary sacrificing.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Providing hand outs to your adult children is not necessarily in the best financial interest of either parties. But there are ways to 'hand up' this money to benefit the receiving party and not cement bad financial habits.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In this episode we discuss different examples of when it is/isn't suitable to leave your current financial adviser.
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This episode is the last of the weekly Covid-19 episodes that were keeping you in touch with what's happening in the financial markets during this time.
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Michael and Dallas discuss risk and how changing your investment plan to reduce market risk (volatility) is simply shifting your risk over to somewhere else i.e. possibility of running out of money due to purchasing power risk.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This week has seen some easing of restrictions and plans for more to lift in the near future. We are still in discount territory for investing, with the market being down 24%.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The term account based pension can confuse a lot of retirees, in this episode we aim to break it down for you in a way that you can understand.
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In this episode, we discuss why we have decided to utilise our language to remind our clients that they are invested into companies and not just a number on piece of paper.
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The week started off well with a 5% rise in the market to start it off, but by Friday it went back down to where it started at the week at 27% off everything. This is volatility at its finest.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In the world of investing there are two major types of fear: the fear of loss, and; the fear of missing out. It would be safe to say that as investor's we have all felt these fears in some instance.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode is another update on the financial world during the Covid-19 pandemic. You can see the pattern in our terminology; seeing the low market values as an opportunity instead of issue, can do wonders for your retirement planning.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Adding half a million dollars to your retirement savings may seem like a foreign thought during times like these (Covid-19). However, we'll discuss why having a well thought out and executed plan can help you achieve that.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Moving your super into cash may feel like a safe move because you avoid the worries caused by volatility, but in reality, it opens up a whole new risk and can have a negative impact on your retirement savings.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The Australian market is still on sale for those wanting to invest, now sitting at 23% under it's previous high. On top of that, the S&P 500 (top American companies) is down by only 17% even though they have a large and very serious threat with Covid-19.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In this episode Dallas and Michael discuss owning residential property in retirement, and highlight the many negatives that come with owning this type of asset.
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This 3 part series involves Dallas Davison interviewing Michael Hogue on his experience through times of significant market drops. The final part of this series focuses on the recovery from the GFC (2009 to now).
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Just recently we had done a podcast talking about the volatility caused by Covid-19 where the market was 35% down from the top; it is now at 25% down from the top. Yet we still can't predict whether it has hit the bottom or not, all we know is that there is still a "discount" on shares at the moment and it may be a great time to start planning for your future.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This 3 part series involves Dallas Davison interviewing Michael Hogue on his experience through times of significant market drops. The second part of this series focuses on Michael's experience during the Global Financial Crisis (2007-2009).
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This 3 part series involves Dallas Davison interviewing Michael Hogue on his experience through times of significant market drops. The 1st part of this series focuses on the boom years (2001 to 2007).
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
We're in a stressful time due to Covid-19, and the thought of retirement planning might be pushed to the back of your mind with so much going on. However, it might actually be a really good to establish or enhance your retirement plan.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This is the first update of our weekly financially-related Covid-19 discussions. This episode's focus is on how a different mentality regarding the market price drops caused by Covid-19 can become an advantage to your retirement savings.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
During periods of high volatility and uncertainty, it's understandable why some people want to reduce that pain by pulling their money out into cash and reinvesting it when things settle down. Unfortunately, this a quick way to crystallise your losses, therefore, losing retirement savings in the process
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Volatility is a part of every day life... When it comes to investing, it becomes apparent even more. But just as there are highs, there will be lows, it does not mean you have done something wrong
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The old fashioned 'cash' method of payment for certain expenses might be a massive help with your bad spending habits. The convenience of technological advances, such as tap and go, blinds you from seeing yourself blow your budget out, but visually watching your cash go down is an excellent way to cap your expenses.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
When you pass away, if your money is being passed onto a non-dependant beneficiary (e.g. adult children) a portion of these funds will be taxed. Dallas and Michael discuss a way to avoid this inheritance tax.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
How time flies, the first of Generation X turns 55 this year (2020). This is a significant time because this is when the thought of retirement really creeps up in someones mind.
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Market volatility is an unavoidable aspect of investing in shares, but don't let your panic dictate the decisions you make.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode refers to the classic Seinfeld episode "The Soup Nazi" and explains why it is important for the financial planners and their clients to create and follow processes to ensure that the work that we do is done correctly and to a high standard
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
When it comes to building up your retirement savings, investing in shares can be really effective. However, there are things to avoid and precautions to take to ensure you don't lose money in shares. This episode looks into a few of the main reasons people lose money in shares.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Being in a relationship will bring forward unavoidable individual differences that may lead to arguments. Michael and Dallas discuss some reasons why couples argue over money.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Life is full of finite resources, with money being no different. This episode explores some the decision making process needed before deciding to use your spare cash flow to pay off your mortgage or contribute to super. This ranges from interest rates to tax savings and more. There is an answer for everyone, but the answer depends on the circumstances surrounding you.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Hearing "we don't live an extravagant lifestyle" is usually followed by a deviation to the plan or a denial in one's spending habits. Whatever your lifestyle is, and whatever you choose to spend your money on are simply the facts. The best predictor of your future spending habits is to look at what you're spending is like now.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss the common question they receive "what's a good investment?". They discuss whether or not there is a perfect investment and how different plans may require different investment plans.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
It's a new decade! Michael and Dallas discuss a story about a couple's 9 year experience as some of Lighthouse Financial Advisers earliest clients. They use their real-life story as an example to prove that you can make a significant difference to your future retirement if you stay consistent and focused.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
This episode, posted in mid-July 2019, was our most popular of the year. We've decided to replay this episode for our new listeners and for our long-time followers who might be in need of a refresher. These podcasts are so enjoyable, and we're looking forward to providing some useful information for many more years to come.
Episode Description: Perhaps the biggest question to be answered as you head into retirement is “How do I draw enough income in my retirement without ever running out of money?”. Dallas and Michael discuss the various ways in which retirees can draw a consistent income during a likely 30-year retirement time-frame, along with the trade-offs that can be made, and the rules-of-thumb that work best to avoid running out of money early.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
It is now 2020, a brand new year, and here begins the wave of New Year's resolutions. Michael and Dallas give some handy tips in creating and sticking to some financial related New Year's resolutions to help you get ahead and stay ahead.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael Hogue and Dallas Davison dive straight into the world of "financial myths" discussing and/or debunking them for their listeners. Some of these common myths have stuck around for a long time and include topics such as vehicles (e.g. turn your car over every 3 years), property (e.g. you have to break into the property market early), super (e.g. you should move all your super into cash when you retire), and many more!
For all listener questions/feedback, please contact the team at podcast@mo50.com.au In Part 3 of our Frequently Asked Questions series, Michael and Dallas discuss the reasons as to why they don't believe in using lock-in contracts, and how continually adding value to the work they do for their clients is what they prefer when it comes to retaining them.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In Part 2 of our Frequently Asked Questions series, Michael and Dallas discuss the information that clients need to bring in order for them to get a rough picture of where you currently sit, where you want to be in the future, and whether or not your goal needs to be adjusted.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Part 1 of the Frequently Asked Question podcast series, Michael Hogue and Dallas Davison discuss the big question "what are your fees?". They briefly explain common fee structures for financial advisers and provide the fee structure that they use. "Are we locked in forever?" is the next question they discuss on this episode, explaining their reasons as to why they do not believe in a lock-in contract.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas Davison and Michael Hogue discuss one of the more common debates in the world of financial planning, Active management VS Index management. They look at the pros and cons of each type, covering things such as: costs, long-term efficiency and the rarity of good active managers. The preferred method they both use is revealed and they explain why it suits them best.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael Hogue and Dallas Davison discuss some of the issues that people are being told to worry about. As human beings, it is in our nature to always need to have something to worry about! But a deeper look shows that things in the economic world are going well at the moment. Topics discussed include: inflation & returns; unemployment & wage growth; the inverted yield curve; and some other worries.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael Hogue and Dallas Davison discuss reasons as to why owning a Self Managed Super Fund becomes a burden with increased complexity and mention some of the costs that are involved in owning one.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael Hogue invites Maria Pandalai from Travel Managers in to speak about traveling in your 70s. Maria, a professional in her industry, discusses the best locations to travel in this age bracket, the things people tend to not think about when planning a holiday, and how custom-made packages may be the best option for you.
Resources:
- Maria Pandalai: https://www.travelmanagers.com.au/ptm/MariaPandalai/ pandalai@travelmanagers.com.au
- Michael Hogue: michael@lighthouseadvisers.com.au
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael Hogue invites Maria Pandalai from Travel Managers in to speak about traveling in your 60s. Maria, a professional in her industry, discusses the best locations to travel in this age bracket, the things people tend to not think about when planning a holiday, and how custom-made packages may be the best option for you.
Resources:
- Maria Pandalai: https://www.travelmanagers.com.au/ptm/MariaPandalai/ pandalai@travelmanagers.com.au
- Michael Hogue: michael@lighthouseadvisers.com.au
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael Hogue invites Maria Pandalai from Travel Managers in to speak about traveling in your 50s. Maria, a professional in her industry, discusses the best locations to travel in this age bracket, the things people tend to not think about when planning a holiday, and how custom-made packages may be the best option for you.
Resources:
- Maria Pandalai: https://www.travelmanagers.com.au/ptm/MariaPandalai/ maria.pandalai@travelmanagers.com.au
- Michael Hogue: michael@lighthouseadvisers.com.au
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael Hogue sits down with Cathy Boyce to discuss Cathy’s story. Cathy and her husband David are clients of Michael’s. Cathy talks about how she resigned from a regular paycheque and changed career later in life, starting not one, but two businesses: Silver Fluoride CPD and Townsville Orofacial Myology “TOfM”. Cathy speaks about the benefits of the career change including: greater flexibility; the ability to be able to pick-up, put-down work; and the increased satisfaction she receives from being able to help others through these new directions. Michael talks about the challenge that a career change creates to someone’s retirement (financial) plans, but how this can be overcome through a process of trade-offs designed to achieve the ‘balance of life’. Finally, Cathy shares her plans to start a podcast (Beyond Brushing) aimed at increasing the awareness amongst consumers of overall oral health wellness.
Resources:
- Silver Fluoride: www.armer.com.au and Facebook Black.diamonds.rock
- TofM website : www.townsvilleofm.com.au
- Cathy’s Podcast: Beyond Brushing: Optimal Oral Health Outcomes
- Michael Hogue: michael@lighthouseadvisers.com.au
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
You may ask “What is the difference between Financial Stress and Financial Problems?” Dallas explains what the differences are and what you can do to overcome these.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Perhaps the biggest question to be answered as you head into retirement is “How do I draw enough income in my retirement without ever running out of money?”. Dallas and Michael discuss the various ways in which retirees can draw a consistent income during a likely 30-year retirement timeframe, along with the trade-offs that can be made, and the rules-of-thumb that work best to avoid running out of money early.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas Davison and Michael Hogue discuss how to have a budget that works for you. In particular, we look at: Whether to use a DETAILED budget or a GOALS based budget; how to automate your budget; the benefits of using pay cycle transfers.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In this episode, Dallas and Michael discuss the various “character actors” that tend to be in the play: the “Yes” woman; the man with a hammer; and the Jones’s are just some of the typical characters that influence the decisions of those around them. We discuss the things to watch out for when making financial decisions.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In the final installment of this 5 part series, Michael Hogue and Dallas Davison discuss the importance of moving from planning phase to doing phase.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Your hosts Dallas Davison and Michael Hogue point out how not working backwards can derail your retirement plans. This is the fourth episode in this 5 part series.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
In episode 3 of the 5 part series Dallas Davison and Michael Hogue comment on the importance of getting started today.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Leaving money on the table is a key reason retirement plans get derailed. In part 2 of this 5 part series, Dallas Davison and Michael Hogue discuss the ways this can be avoided.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
The first episode in a 5 part series, Dallas Davison and Michael Hogue talk through the risks of an inaccurate budget and what this can mean for your retirement.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael pontificate over the cost of private school and university for your children and look at alternatives of spending (assumed) $20,000 pa. on education versus adding this amount to your children’s superannuation funds. This podcast is a bit of fun in that there is certainly no right or wrong answer.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
One of the common mistakes that Dallas and Michael see with aspiring retirees, is that they have an inaccurate estimate of how much they will spend each year in their retirement. Most often than not, people underestimate how much they will really spend leading to less than ideal outcomes. The podcast discusses three ways to make a more accurate estimate.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael discuss the common attributes of people who tend to need help with planning for their retirement:
- don’t have the time to do the research.
- don’t have a ‘head for numbers’.
- don’t want to, or don’t enjoy, working on their finances.
- don’t have a good understanding of our taxation system.
- don’t have a good understanding of super legislation.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael discuss how this common question is not actually the best question to ask. Other questions to ask that will have a larger impact are: What types and amounts of contributions should I be making to super?; What asset allocation and investment strategies should I be choosing inside my super fund?; Am I on track to have enough to retire?; What should my expectations for retirement income be?
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Michael and Dallas discuss a strategy whereby driving a lower-cost car during the last 15 years of your working life, and contributing what you would have spent in car repayments to your superannuation fund, can allow you draw an additional $30,000 pa. each year for the first 24 years of your retirement. Resulting in extra income drawn in retirement. How many great memories could be created with $717,000 of extra dollars to travel with? VS The fading memory of the “new car smell”.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael talk about the generational shift of aged 50's and 60's seeking career changes. Often changing to a part-time role that they are super passionate about. With increased job satisfaction, reduced stress levels, and a newfound purpose, these career changers often work in semi-retirement beyond the traditional retirement age of 65. The podcast explains how taking a pay-cut can actually benefit someone who finds a new part-time job that they are happy doing beyond age 65.
For all listener questions/feedback, please contact the team at podcast@mo50.com.au
Dallas and Michael talk about the three main options that you have for your family home in retirement: keep; downsize; or rent. These options are compared with the pro’s and con’s of each. The podcast explores how downsizing your home would ideally lead to an increased retirement income of at least $10,000 pa. and looks at the optimal sequence to downsizing.