My 16 year old nephew needed a bank account, so I said I would help him out if he wanted me to. An aunt who loves anything personal finance related could not bear leaving a 16 year old in charge because I knew that absolutely NOTHING would happen. So I devised him his very own “master banking plan”.
I don’t subscribe to the view of “leaving my daughter to it”; that when she is old enough she can earn her own money and save for herself and she will miraculously become wealthy. In my view starting young, learning how money works and investing over a long period of time is the way to get ahead.
I received an email in August from a woman who finds herself moving on from a 20 year marriage. She is discovering the freedom of now going it alone, but the journey is certainly not an easy one.
Recently I had an excellent question from a fellow Happy Saver who had been comparing SmartShares, SuperLife and Sharesies, not so much to find the lowest fees, but to work out which has the smoothest and easiest system and which one allowed him to purchase shares in the fastest time.
Today I wanted to answer a question that was asked by Linda. She is interested in looking at the pros and cons of taking her KiwiSaver as a PENSION versus a LUMP SUM invested in the bank and using the interest to supplement her government super…
The very first thing I would do is set up an automatic transfer to syphon off a set amount of money each week into a sub account with your bank and give it a flash name like “IKMSMOI” (investments keep my sticky mitts off it).
A conversation I had a month or so ago is still buzzing round in my head. I was asked about my preference towards passive investing versus active investing. So, I’ve spent a lot of time over the last couple of weeks thinking this through so I can get it clear in my head.
I had a catch up with Martin Hawes recently and I could not have been more delighted. Having the opportunity to talk about money related topics is my kind of way to spend a Friday morning…
