All in Saving
Have you ever thought “How much do I need to save for my retirement”? I certainly have. Professor’s from Trinity University in America created a study that looked into a sustainable withdrawal rate and to cut a long story short, they came up with the 4% Rule.
KiwiSaver is one of many investment tools you can put in your little kiddies tool box. I have a daughter who is now ten and I signed her up when she was born. It was darn hard holding her little cute pudgy hand and getting her to sign the paperwork I can tell you, but we got there in the end!
People tell me that they are investing quite large sums of money in order to get a return but at the same time they have a mortgage. My short and sweet response is typically that “in my humble opinion, you can’t make money while you owe money”. Once I’ve uttered my opinion the fireworks often start.
I have recommended this book to a lot of people and everyone I recommend this book to loves it! And more importantly they act upon the advice inside the book. You need to add this book to your reading list.
I’ve blogged before about ways I teach my daughter to be good with money and it remains a regular topic in our house. I’m always looking for opportunities to teach her more and I thought if you have children of your own then you might like to see how I go about it?
Tracking every cent makes me calculate each and every time whether we made a good decision with our money. Money is hard to earn and easy to spend so I want to know that I use it as wisely as possible and not look at my bank account and wonder where the hell it all went.
Finding those who are “receptive to your message” is a very delicate task so over Easter maybe put yourself out on a limb and drop a few words like “index fund, net worth, spending less than I earn” into the conversation and watch closely for the response.
Because I threw off the shackles of debt some time ago I have become a little out of touch with mortgages. I’ve had enough emails about “Offset Mortgages” to make me think that this is something I need to look into because there are obviously a few of you out there who either use this system of banking or want to know what it is all about. This blog post may ruffle a few feathers...
Olivia spent the school holidays working hard and she has found herself with that wonderful problem, too much cash sitting in the bank. In this blog post, I detail a strategy to show her how to make her hard earned money work for her and create a strong financial future for herself.
