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One of the greatest myths of wealth creation is that being as frugal as possible is the key to riches and a happy life. There are countless articles written about how to save money and become wealthy by recycling materials, making your own household cleaners, growing your own vegetables, upcycling furniture and so on.

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As every seasoned investor knows, the four major classes of investment assets are cash, fixed interest, property and shares. In a fully diversified investment portfolio, cash and property usually count for a much lesser proportion than fixed interest and shares.

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Baby boomers should by now be well aware that as they move towards and through retirement, they will place huge pressure on NZ Superannuation.

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Events in Europe have caused many investors to question the safety of their bank deposits due to fears of a global collapse of banking systems.

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Whether you have a small KiwiSaver balance or a huge fortune, it is important to plan your investment portfolio so as to get the right balance between risk and return.

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It wasn’t so long ago that most people had an expectation of retiring completely from the work force the day they became eligible for NZ Superannuation.

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The question on the tip of everyone’s tongue is, “Should I buy shares in Mighty River Power?” Like children at a lolly scramble, thousands of prospective investors have rushed to pre-register, for fear of missing out if they don’t act quickly.

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Whether you are running a business or managing the household finances, cash flow is critical. The difference between cash coming in and cash going out in any given period of time is the net cash flow. If it is positive, your cash balances will increase and if it is negative, your cash balances will decrease.

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Kiwis are being urged to “Think, Shrink, Grow’ by the Commission for Financial Literacy and Retirement Income in their campaign to improve our money habits.

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For first year tertiary students, one of the most daunting challenges is how to get financial assistance without being burdened with a lifetime of debt. A student loan is inevitable for most students. Student loans are available for compulsory course fees, course related costs and living costs, subject to eligibility criteria. There is no interest charged if you are based in New Zealand and if you make the required repayments on time once you are earning above the income threshold.

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Getting yourself on the path to financial freedom is not just about getting your money sorted; it is about sorting your life as well.

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The principles of wealth creation haven’t changed since money was first invented. Some of the most insightful and inspirational books were written decades ago yet they are still relevant today. One of the most enduring classics is The Richest Man in Babylon by George S Clason, first published in 1926 and more recently published by Penguin.

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When I was young, I used to go fishing with my father in his boat. Not being much of a sailor, I often succumbed to the motion of the waves when there was a big swell. All I wanted to do then was to get my feet back on firm ground. I still remember the advice my father gave me to help me last the distance back to land.

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One of the best investments you can make in life is to invest in yourself. Being physically and mentally in good shape makes you happier and improves your chances of financial success. Think of the personal attributes of the most financially successful people you know.

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Last week we looked at the first four steps you need to take if you want financial freedom; something that most Kiwis aspire to. They were: (1) Spend less than you earn; (2) Join a subsidised superannuation scheme;

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Living from payday to payday is nobody’s idea of an ideal life. What most Kiwis aspire to is to have a comfortable life free of financial stress. There are eight simple steps that will help take you on your way to financial freedom and here are the first four:

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Holidays can very often prompt a desire for life changes ranging from a commitment to changing bad habits to major changes such as a career change, geographic relocation or change in relationship status. No doubt these changes stem from the opportunities holidays give to reflect on life and happiness.

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One of the keys to success in life is the ability to find your passions. It is almost impossible to achieve financial success without clearly identifying your goals in life, and your goals are determined by your passions. The simplest method I have found for finding your passions is one developed by Janet and Chris Attwood (The PassionTest: The Effortless Path to Discovering Your Life Purpose).

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