Money Magazine February 2020

Sometimes “aha!” moments can happen around the proverbial office water cooler. My latest one came during the requisite sharing of new year’s resolutions and a look back at the year that was. Challenged about whether resolutions are worth it, a work colleague trumped us all: one of her 2019 goals for had been to reach a certain net worth; she hit that number and is now looking at a higher target for 2020. Saving an extra $10,000 in 12 months is impressive, but projecting your net worth year on year doesn’t have to be the stuff of dreams. It’s that kind of thinking that can sustain a long-term financial plan. I used to associate any references to net worth with the ultra-wealthy, a legacy of my days doing research for the annual Rich…

Sometimes “aha!” moments can happen around the proverbial office water cooler. My latest one came during the requisite sharing of new year’s resolutions and a look back at the year that was. Challenged about whether resolutions are worth it, a work colleague trumped us all: one of her 2019 goals for had been to reach a certain net worth; she hit that number and is now looking at a higher target for 2020. Saving an extra $10,000 in 12 months is impressive, but projecting your net worth year on year doesn’t have to be the stuff of dreams. It’s that kind of thinking that can sustain a long-term financial plan. I used to associate any references to net worth with the ultra-wealthy, a legacy of my days doing research for…

Tale of two nans reveals the bigger picture I must confess that I am sometimes frustrated by the broad platter of financial material in Money magazine. Partly I suppose because I follow other material that is very much focused down a particular bent. What is the purpose of travel tips, for example? They are not going to make one wealthier. However, I had the healthy reminder of the bigger picture in Greg Hoffman’s “Rich Nan, Poor Nan” article in the September issue. I always enjoy his columns, but this was particularly sensitively written. Rich Nan was the money savvy one – and he valued her contribution to his life. Poor Nan was not money savvy, but she “invested” in other ways, putting her energies into enriching the life of her grandchildren, for…

Tale of two nans reveals the bigger picture I must confess that I am sometimes frustrated by the broad platter of financial material in Money magazine. Partly I suppose because I follow other material that is very much focused down a particular bent. What is the purpose of travel tips, for example? They are not going to make one wealthier. However, I had the healthy reminder of the bigger picture in Greg Hoffman’s “Rich Nan, Poor Nan” article in the September issue. I always enjoy his columns, but this was particularly sensitively written. Rich Nan was the money savvy one – and he valued her contribution to his life. Poor Nan was not money savvy, but she “invested” in other ways, putting her energies into enriching the life of her…

JULIA NEWBOULD Julia is Money magazine’s editor-at-large. She says: “If it’s something special it would be a nice drink to set the mood – a martini, champagne or negroni. Food-wise, it’s hard to go past fresh oysters, fish or duck, but my weakness is a side of fries. Or it just might be a good laksa.” TERRY RYDER Terry is the founder of property investment website hotspotting.com.au. He says: “A liquid refreshment – a good supply of water, then something a little more potent, usually red wine in my case, and whatever others at the table regard as their favourite. Then we can focus on the menu. Good wine and good food were made to be together.” MARCUS PADLEY In the 1980’s restaurants were simple. Posh eating meant ordering a…

JULIA NEWBOULD Julia is Money magazine’s editor-at-large. She says: “If it’s something special it would be a nice drink to set the mood – a martini, champagne or negroni. Food-wise, it’s hard to go past fresh oysters, fish or duck, but my weakness is a side of fries. Or it just might be a good laksa.” TERRY RYDER Terry is the founder of property investment website hotspotting.com.au. He says: “A liquid refreshment – a good supply of water, then something a little more potent, usually red wine in my case, and whatever others at the table regard as their favourite. Then we can focus on the menu. Good wine and good food were made to be together.” MARCUS PADLEY In the 1980’s restaurants were simple. Posh eating meant ordering a prawn cocktail in a wine…