Money Magazine March 2020

Money magazine is Australia’s longest-running, highest-selling and most-read personal finance magazine. Money magazine provides credible, independent, easy-to-understand financial advice to help its readers save money and make the most of their investments.

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11 号


what really matters

Burst water pipes, train disruptions, flash flooding … there’s no shortage of stuff to whinge about if I really wanted to. But I’ve always viewed the world with a “glass half-full” lens and see these issues as mere inconveniences to get what we really want – rain, and lots of it. The bushfires, compounded by fears about the coronavirus outbreak, made things that would otherwise feel important seem trivial by comparison. It’s hard to dwell on commuting hassles when we’re facing the prospect of a pandemic. While it’s early days, two of our regular contributors, Greg Hoffman and Marcus Padley, share their views on what this health emergency means for long-term investors. An economist I know explained it best when he described the coronavirus as an “event”, not a “trend”, so let’s…

letter of the month

I’ve only been a reader for the past eight months, but the magazine has truly helped to solidify my understanding of personal finances. I’m not from a wealthy family and until last year I had barely anything saved. I wanted to build up a safety cushion and with your help I’ve been doing quite well (I’m up to $25,000 now!). As a result of my interest in finances (which is far outside my everyday employment), I’ve become something of a financial adviser to my family. It is thanks to you that I’ve been able to show my parents how to budget, how to pay down debt and seek out the best rate. It is thanks to you that I have uncovered my brother’s overwhelming debt and sat down with him to…


Good trade careers are overlooked Regarding Paul’s In Your Interest column (December/January 2020), one issue in job creation is what jobs young people today are prepared to do. Our two sons both finished high school in the late 1980s and unemployment was high, especially for those leaving school at that time. They both had an idea of what they wanted to do and wrote more than 50 letters each to a lot of different organisations looking for work. It paid off for them as they obtained a career in what they wanted to do – they still work in their chosen careers today. What is disturbing is that our younger son is today trying to employ apprentices, as he once was, and almost nobody applies. When he “won” his job, more than 200 applied…

what’s something you refuse to spend money on?

DAVID THORNTON David Thornton is a staff writer at Money. David says: “I won’t pay for an Uber or taxi if the trip is walking distance. Admittedly, I have a very stretched definition of walking distance, which means up to about 3km if I’m good for time. It’s a no-brainer; I save money and burn some calories.” SUSAN HELY Susan is a senior writer at Money. Susan says: “Home delivery meals. The food never tastes as good in the takeaway containers. It often arrives lukewarm or cold. Sometimes the prices are steeper too. I prefer to go out but mainly cook at home and save the money. I also steer clear of packaged holidays after my honeymoon in Africa, where we splurged but were ripped off badly – often camping with no showers…

wealth needs to be shared in a cohesive country

February is a month I always enjoy. Earlier in the year is a great chance to catch up with our adult kids, new granddaughter and two grandpups, but life is life and the kids need to get back to their work. This gives us a chance to do a bit of travel and catch up on some reading. A lot of my reading is for pleasure, but I can’t resist magazines like The Economist. A recent issue certainly caught my attention with its cover story: “The horrible housing blunder. Why the obsession with home ownership is so harmful.” I suspect this will not cause too many Money magazine readers to race out and buy a copy! Equally, as a long-term enthusiast about the merits of Australians owning a home, I am a…

retirement path set to take a new direction

In early February, Money magazine’s inbox was flooded with press releases about submissions to the government’s retirement income review. Judging by all the super representative groups and associations having their say about future retirement, it’s clear everyone has their own ideas. While each idea has merit, there are loads of policy, economic and personal consequences to consider. One of the big four accounting firms says the review should focus on women. Top suggestions were removing the $450 per month wage threshold for employer super contributions; and requiring the super guarantee to be paid on paid parental leave as well as workers’ compensation payments. Another group says that because self-managed super funds (SMSFs) make up more than one quarter of the $3 trillion super system’s assets, and more than half of the system’s…