Our new book is an inspiring & practical guide for everyone from age 25 to 85
“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the gotta have it scale.” - Zig Ziglar
Asset Class Investing – a method that you can rely on
You cannot get anywhere without savings and an investment method that you can rely on. You need to get your money working properly for you, so you can eventually switch from working for money, to getting your money working for you (passive income).
For retired people the same applies except that now it is also about making your money go a bit further, and also lasting longer than you do.
The book contains an investment section that explains investments that do work, and why 80% of investors, share brokers and fund managers are on the wrong track.
Asset class investing can help you be just that much richer than you might have been.
The 22 big mistakes that people often make
Over the past 24 years we have observed people making BIG mistakes that prevent them from getting ahead while still working.
Even worse we have seen retired people make some grave errors that have really hurt their standard of living in retirement (not just investment mistakes either).
Most of these mistakes are easily avoided; if you know what they are (they’re in the book).
Maybe you can also eliminate them if you seek advice from an AFA – read on.
What is an AFA ?
An AFA is an Authorized Financial Adviser. This is a new license issued by the Securities Commission and means the adviser is appropriately experienced, qualified, and must act in accordance with a new Code of Conduct.
However not all AFA’s are independent, as some advisers will still take commissions, or may be on some sort of bonus to sell their employers products. The book explains why you should look for an independent AFA who does not take commission or bonuses.
How to choose a Caravan or Campervan on a larger or smaller budget
Any book about money should also include how to have some fun with the money you have worked hard for. Hence the book has a section on one of the most popular leisure activities in NZ . It discusses the advantages and disadvantages of each type of motor home and caravan, including all the options from $5,000 and $500,000.
There are quite a few things you should know before you buy one, so that your travels are fun, simple and easy. There are also tips on a cheap way to test a campervan before you buy too.
Leisure 101 (free)
Most travel guides tell you a long list of things you can do in NZ, but so many of them cost $50, $100 or more. If you want to take an extended trip around NZ, you will need a list of things to do that are free.
In the book we have compiled also to 101 free things to do in NZ so you can extend your trip and still have lots of fun things to do.
Property Investments & Tax changes – where to now?
The government is concerned that too much money is being borrowed in NZ to buy investment property and that it is hurting the NZ economy. Consequently the government recently changed some tax rules and made property investment less attractive.
What does this mean for investors & property prices in general ? This issue is discussed in the book.
The 18 BIG mistakes that retired people make, and how to avoid them
Over 24 years, we have seen about 18 BIG mistakes that retired people make that can really hurt (not just investment mistakes either). Most of these mistakes are not well known or visible either, since people have their pride and usually don’t tell anyone about them. These mistakes are easily avoided, and they are all in the book.
Lending money to your children – good and bad ways
Helping our children is what we all do, but we have seen some sad cases where this has gone terribly wrong, and left the parents finances in a mess.
In the book we discuss some things to think over before you do this, especially as it can wreck your finances and also family harmony.
The 17 BIG mistakes that people age 25 to 65 make, and how to avoid them
Over 24 years, we have seen about 17 BIG mistakes that people who are working make. These mistakes stop them getting ahead today, tomorrow, and later on i.e. arriving at retirement ill-prepared. All too often they cannot afford to retire at all.
Most of these mistakes are easily avoided, if you know what they are (they’re in the book).
Kiwisaver – Marvelous or Mediocre – should you be in it?
Everyone under the age of 65 can join, and most of us should. There are some exceptions but overall Kiwisaver is attractive – the government currently give you $1,000 to start off, and put in $20 per week if you put in $20 per week – that is a 100% return! You don’t have to be working either.
Some people don’t realize they can join and some are the wrong investment fund. Pay attention to Kiwisaver, it is worth it.
How to eat your house
As people get older, they sometimes find they have a lot of money tied up in their houses, and not enough invested – not enough income .
How do you unlock this money? Can you unlock this money? This is a big issue and is well covered in the book.
Retirement Villages
There are quite a few things to consider before you buy a unit in a retirement village, and you should get independent legal advice too. Also should you move closer to family, and away from friends? Lots of issues to consider before you make a move.
Investment Diversification – what it really means !
Diversification of investments is the number one step to success. Real diversification means investing across property, cash, bonds, and shares, both in NZ & offshore.
Note that the bonds need to be of high quality, and the shares in the right type of share fund (asset class is best).
Real diversification also means not having too much in any one of these sectors. Since this is so important, it is well and truly covered in the book.
Rest home fees- how do they work & who pays?
About 1 in 10 people eventually go into a rest home, and let’s hope that’s not you. However it might be, or it might be one of your parents that need to. This is not an issue to get overly concerned about, and certainly not a reason to “get rid of money” as some people do.
The book reveals some steps to take that are sensible. In addition, rest home subsidies start at new higher limits, so rest home fees will not completely disinherit your children either.
Health – what the food industry don’t want you to know!
The author has recently lost 15 kg and along the way found out about some myths in the diet and food industry that most of us need to know. Most diets don’t work because the food is awful or too restricted, and low fat foods can be simply a big con – find out why in Chapter 11.
Family Trusts – are they worth the costs & complexity?
Family trusts are not free and they often cost more to set up and run than the benefits that might come from having one.
We have a simple test to work out if you should have a family trust or not.
How your children can “cheat” the banks out of $400,000 in mortgage interest
Most young people today borrow $300,000 to buy their first home and end up paying the banks around $400,000 in mortgage interest. This can be avoided, or at least dramatically reduced.
It takes some planning and some forethought, but it can be done. In the book we illustrate a number of ways to do this.
How to avoid burn out while still working
A common problem in NZ is burnout from working. This often leads to ill health, lack of retirement planning, and many other undesirable side effects.
This can be managed and indeed have a wide range of positive outcomes. We discuss this important subject in the book.
Life Insurance (dead money) vs. savings
Life insurance is often misunderstood – too many people are either poorly covered, or wasting money on premiums that would be better directed to savings and investments instead.
People often pay more attention to their holiday plans than this important subject – review your insurances often - start by reading the book – maybe you can save on premiums now and start saving/ investing the money instead. Savings plans that work are in the book.
Arthritis
Two years ago the author started taking a simple homeopathic remedy and since then has had no colds or flu at all – not even a sniff. And this remedy was recommended by a health professional too !
But the real BONUS was the remedy, combined with fish oil and a low carb diet, has also dramatically improved the arthritis in my hands - an unexpected but very welcome side effect. See chapter 11 in the book.
How to get the book
Go to www.retirericher.co.nz & buy it on line
