If you have ever flown Economy Class on a long haul flight and looked with envy at the First Class passengers enjoying their extra leg room, fancy meals with real plates and cutlery and personalised service, you will know what it will probably be like in rest homes and retirement villages of the not too distant future.
Tag Archives | money management
An interest-only mortgage, as the name suggests, is one where no principal repayments are required to be made during the term of the loan. It is usual for an interest-only mortgage to be interest-only for a fixed period of time, such as two years or five years, after which it can either be converted to a table loan (principal and interest) or rolled over as interest-only with the approval of the lender.
Proposed new IRD rules which may take effect from 1 April, 2014 will treat transfers or payments from overseas pensions as taxable income with certain exceptions. For the first four years of being in New Zealand the portion treated as income will be 0%.
There is a plethora of options available for investors wishing to place their money in a managed fund or portfolio. Differences in the way fees are charged and returns reported have made comparisons between funds akin to comparing apples with oranges.
Insurance is one of those things that most people need but resent having to pay for. When money is tight, it is often insurance premiums that get cut from the budget. With an increasing amount of insurance being bought online or over the phone without advice there is a real danger that more and more people will be either over-insured or under-insured.
The party is over and it is time to take stock of the financial damage done by holiday excesses. If you are feeling as though you have a money hangover, here is what to do so you can get back in control of your finances.
The start of a new year is often a trigger to re-evaluate life in general, to set new goals, and to think about what needs to be done differently. Throughout the year there can be other triggers such as the end of a relationship, the birth of a child, or a financial catastrophe which demand that things be done differently.
There is a good chance, in fact about a 50% chance if the psychologists are correct, that some time in the New Year you will make at least one resolution. Researchers have found that the most popular resolutions fall broadly speaking into four categories: health and lifestyle, personal development, relationships and money.
It’s time to down tools, tidy the office, leave a holiday message on the answer phone, prepare for guests or pack suitcases. It’s as if 2013 can be put in a box and filed away, with a clean start to be made in 2014. Now is a good time to think about tidying up your financial records, particularly if you are intending to travel.
Lending money is risky business. Earlier this month, The Aleph Blog provided some great insight as to why one should never co-sign for even their loved ones in Don’t Co-sign, Ever, but just as this type of lending is risky to the co-signor, so too is the process of personal loans risky for the bank.
Being self employed comes with greater independence and flexibility of working hours but it can also mean an irregular income. Real estate agents, commission sales people, contractors, temporary or casual workers and a host of other occupations come into the same category as small business owners in this respect.
One of the world’s most successful investors, Warren Buffet, made a pledge in 2006 to give away 99% of his fortune during his lifetime or on his death since making this decision to give away his wealth, Buffet says he ‘couldn’t be happier’ and ‘the asset I most value, aside from health, is interesting, diverse, and long-standing friends’.
When money is limited, we need to make choices. By spending money on something we want, we forego being able to spend the same money on something else. Wouldn’t it be great, though, to have your cake and eat it too! Believe it or not, there is a way.
While it is now possible to transfer funds from your Australian superannuation scheme to KiwiSaver, this is not something that should be done without consideration of a number of important factors.
One of the most important relationships you will have in your life is your relationship with money. Everybody’s relationship with money is different. It can be influenced by things you learned about money when you were a child, your family circumstances when you were growing up, good and bad experiences with money, your values, how conservative you are, and many other factors.
New Zealand’s failure to bring home the America’s Cup is truly disappointing and also a reminder of what it takes to succeed. Winning a yachting regatta has many parallels to achieving financial success. To begin with, you need to be absolutely determined and focussed on achieving your goals.
Human beings are curious people. We secure all our assets including our home, cars, and boats. We use banks and safes to protect our valuables. Most of our personal possessions are insured against contingencies such as fire, damage and theft. In the main, it is incomprehensible for us not protect all our material possessions.
Jokes about Spending the Kids’ Inheritance (SKI) abound, however when it comes to the crunch, many retirees find it difficult to watch their dollars slowly dwindle. Saving regularly over a period of many years does two things. Firstly, it builds up a nice retirement nest egg. Secondly, it creates a well entrenched habit of not spending.