In this episode Pete and Zac run through their 50 top financial tips in celebration of our 50th episode! Here are our top 50 tips below.
Start Today
Start with the end in mind
Put regular savings towards your future
Automate your regular savings
Diversify your investments
Understand your risk profile
Get your structure right
Have a rainy day cash buffer
Have goals to work towards
Don’t be a reactive seller
Start saving for children as early as possible
Structure your portfolio to meet your objectives, not someone elses
Teach your children about finances
See opportunity when others are panicking
Spend less than you earn
Be an investor, not a speculator
Focus on value, not just what is cheapest
Review your super fund
Check your supers performance against others
Beware of accessibility of super
Don’t ever be left without insurance (Don’t rollover super fully if there are some insurances in there)
Insure your health
Review your insurances regularly
Check your insurance definitions
See what is better for you, stepped or level?
See if you have trauma, if not, think if you need it.
Structure your insurances correctly, inside vs outside of super
Plan for retirement early
Know your number - how much you’ll need/want in retirement
Be aware of your available super contributions
Be aware of sequencing risk
Get the right asset mix in retirement
Have a will
Review your super death nominations
Look at a binding financial agreement
Beware of STD’s (Sexually Transmitted Debt)
Have a yours / mine / ours approach to money if you’re in a couple
Use the first home super saver scheme
Use the downsizer contribution
Check your interest rate
Get an offset account
Try to keep the emotion out of investment properties
Maintain a good credit rating
Track your cashflow
Re evaluate your spending on frivolous purchases
Be wary of credit card debt
Use your tax return wisely
Understand and plan for the impact of tax
Get a good team of professionals around you
Invest in yourself