AUTUMN 2013
Money Works Financial Planning Pty Ltd MARCH 2013
Are We Heading In The Right Direction? There have been many changes in the finan-
when I say that you will be in the same finan-
cial world in the last decade, from the GFC to cial situation in the next 12 months if you the legislative changes (FOFA, Future of Fidon’t save. If you do accept this advice, you nancial Advice) now coming into effect, which will start to see amazing changes. will have major implications of giving financial Invest: The old adage ‘money makes money’ advice (as mentioned on page 3). Not to and I believe their this no better time than mention the changing landscape with Europe now to invest. Remember that there is only still struggling and the impending ‘fiscal cliff’
two ways to make money, you work for it or it
America is still faced with. If you are still wait- works you. ing for something to happen before you inBudget: Let’s be honest, if you don’t have a vest or reinvest or start to save, then you are budget, you don’t have a plan. We all need to missing the boat. A mentor and business budget, this way we know where our hard coach of ours puts it this way
earn dollars are going.
“How old is your street directory? If you are still
Seek Professional Advice: Most people I talk to outside my business, ie non clients
using one that is 5,6,7 or 8 years old, or even older? Every year a new street directory is made available, why? Because the landscape has changed, the addition of new streets, highways and byways. So the best way to move between two points is different now.”
Inside This Issue:
This relates to the changes in the financial Are We Heading In The Right Direction?
1
By Chris Harris
Australia stock market outlook& forecast for 2013 Greg Atkinson
2
Home prices up 1.3% in 2013 Craig James, Chief Economist, CommSec January 22, 2013
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world how? Simply put, do you really think that the opportunities you seek, such as
The truth is that most people fail because of wrong information, trembling with fear still
areas for wealth creation. So shift your focus to the following in the next 12 months to ensure financial growth.
3
Money Works & Adelaide Book Works Luncheon
4
take massive commissions. Well let me help you here because the industry has changed massively. The Government has brought in a new legislation to cut commissions, to encourage a fee for service, to make you (the
client) more aware of how, when and what capital growth in today’s market are the same type of service you will receive. Most importantly it is all about you AND the advice given as 2010, 2009 or even 2008? The answer, its called BEST INTEREST (applicable as of No Way.
and because this is the way of ‘the old street directory.’ I believe that there are four major
FOFA—Changes to Fees and Commissions
seem to think that financial advisers/planners will ‘sell’ them something and charge fees or
July 1 2013) , which means ‘A person providing personal advice to a retail client will be required to advice in the best interests of the retail client”. As Lao-tzu once said “If you don’t change your direction, you may end up where you’re heading.”
Savings, Invest, Budget and Seek Professional Advice
Wishing you as always, Great Financial
Let’s look at each of these and why.
Success,
Save: A part of what you earn is yours to keep. Save a minimum of 10% of your total
Chris Harris
income and pay yourself first. Believe me