Money Magazine February 2018

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.

Rainmaker Information Pty Limited
11 号


could life skills advice be the key to success?

Susan Hely’s article (“Hard job choosing a career”, October) struck a chord for me. I think back to the time I was 14 or 15 and being nudged toward choosing a career. I was pretty sure it was the IT industry at the time. Two years later I was not so sure. Instead I took a fairly windy road that, at this point, has me working as a hearing clinician. Fortunately, my parents taught me to work hard and save money so I find myself in my mid 30s with a good base. Many 15-year-olds are simply not able to identify a career path. I do not believe it is fair to make them choose. The end result is often many wasted years at university before they discover what they want…

rise to the savings challenge

“You can be young without money, but you can’t be old without it.” – TENNESSEE WILLIAMS Challenge yourself! That’s how we want readers to start the new year. If you’ve set yourself a savings goal and just need a little nudge to help you stay on track, then I urge you to register for Money’s 8 Week Savings Challenge. Signing up is free, and the practical tips and guidance are all there for the taking. The dedication and hard work, of course, rests with you. Full details can be found on page 56. For those who have already saved, your mission would be where to invest your hard-earned cash. Last year turned out to be a good one for investors. The S&P/ASX 200 climbed about 5.7% to 6077.1 in the year to…


Free advice for all and sundry In the December/January issue you answered a question from a 40-year-old reader Henry who has more than $4 million in assets and an annual income of $250,000! Any wonder he has $4 million when he writes to a column asking for free advice. I think sometimes they are just skiting, to let everyone know how well off they are and for the rest of us to feel like a bunch of underachievers. I see this time and again. Why don’t you tell these people to stick their hands in their deep pockets and pay for advice. They annoy me no end, as you can probably tell. They are in the same category as the affluent retirees who try and hide assets to qualify for the aged…

what is one thing you’d like to do to improve your finances in 2018?

EFFIE ZAHOS Effie is Money’s editor and author of The Great $20 Adventure. Effie says: “2018 will be the year of investing for me. I plan to move some cash onto a P2P lending platform, add some more ETFs to my portfolio, reshuffle my asset allocation in my super and then explore the option of setting up my own fund with the intention of buying property.” PETER DOCKRILL Peter is Money’s tech columnist with more than a decade of experience writing about technology. Peter says: “This year I’m determined to not buy anything I don’t need. It’s so easy to get distracted by minor purchases we want but don’t actually require. For 2018, I’m committing to ignoring them – and saving that money instead.” TERRY RYDER Terry is the founder of and PropertyU, and…

it worries me that people who have worked hard and saved for decades can’t get out of the habit

The combined December/January issue of Money is without doubt my favourite issue of the year. The Best of the Best awards summarise what the magazine is all about: saving money. The other part, of course, is making money. Both have to be a good thing but the joy of saving money is the certainty and instant payback. If you switch to a cheaper mortgage, insurance policy, credit card, internet provider and so on, you save money immediately. And you also save an amount you can calculate. Even better, money you save is tax free. For the average working Aussie, saving $3000 is pretty much the same as earning an extra $4500 from work or investment income. So saving money just makes sense. But here we are in February 2018. I hope you…

beware the retirement spree

Self-funded retirees can be affected by a “mid-term retirement extravagance” syndrome, which can have an impact on their otherwise carefully managed finances. Sometimes, after about a decade in retirement, some retirees can be tempted to go on a spending spree. It might be buying the luxury car they have always wanted, or taking an extravagant holiday while they feel able. This is fine and indeed should be encouraged if they can easily afford it. However, they need to ensure such spending does not affect their longer term financial situation, including the quality of care they will be able to afford in their final years. It is a mistake to think they will need less income in the later years of their life, as they become less active. Quality of life for retirees needing…