Money Over 50

193 The 1% extras in saving for your retirement

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.

192 A good financial planning business is like a think-tank (we pull the data and give you the best directions)

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. 

191 Your bank doesn't care about you and that's OK

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.

190 Listener Question: Life & TPD insurance inside superannuation

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.

189 Why a good financial adviser is like a good cornerman in boxing

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.

188 The only numbers that matter (to your retirement savings)

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.

187 Every time you borrow money, you take it from your future self

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.

186 The average 60 year old is far more employable than they think

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.