Financial Insights & Updates - February 2024
Welcome to the February issue of Financial Insights and Updates of 2024.
Our video this month 'How to Create a Zero-based Budget', along with our article 'Zero-based budgeting - Making every dollar count', provides you with information on a method of budgeting that is ideal for people who love details and want to know where every single cent goes. This method will help you to review existing expenses, justify new expenses, understand your spending, limit impulse buying and achieve your savings goals.
Other interesting articles this month include ‘Ranked - The top 25 countries for retirement’, have a read to see how Australia compares to the rest of the world, and ‘Picking your retirement point’ which discusses one of the biggest decision points in everyone's lives.
As always, feel free to forward any articles to friends and/or family that you feel may benefit from the information.
In signing off, please remember that we are always available to answer any questions or queries you may have and to come speak with us before making any major investment decisions.
Warm regards,
The Team at Nixon Financial Services Pty Ltd
Warm regards,
The Team at Nixon Financial Services Pty Ltd
Feature Video
Zero-based budgeting - Making every dollar count
Ever heard of zero-based budgeting? No? Originally developed in the late 1960s, zero-based budgeting is an accounting method that has experienced a revival in recent times.
Ranked - The top 25 countries for retirement
In 1881, Otto von Bismarck proposed a radical idea for retirement: people above the age of 70 would be given a state pension, encouraging them to stop working.
This model has since been adopted en masse and most countries now have a retirement age, after which workers can claim benefits paid through years of their work.
Picking your retirement point
Moving into pension mode is a big decision. Here’s some options and considerations.
One of the hardest decisions for many people – excluding those who want to keep on working – is choosing when to stop.
Plan to make super catch-ups, if you can
There aren’t too many free kicks when it comes to superannuation.
But there’s a free kick on offer to many Australians saving for retirement that’s there for the taking.
Four timeless principles for investing success
Although investing can seem perplexing and complex, success is largely within your control.
Having a tailored investment strategy can go a long way to reducing the stress and noise associated with investment decisions.
Vanguard has four guiding principles designed to help investors focus on what’s important to them and give them the best chance for investment success.
Is a DIY will kit enough?
More than 50% of Australians don’t have a valid Will. If you die without one, your hard-earned wealth (your estate) will be distributed according to the rules of intestacy – a government-determined formula. That may not divide your estate as you would like, and if your family consists only of distant relatives your assets could end up enriching your state government’s coffers.
If that’s convinced you that a Will is a good idea, how do you go about making one? There are three main options.