BMG Financial Planning and Accounting Albury Wodonga

February 2018

Travelling retirees | Super-linking | Marshmallow finance | Perspective | Aesop investing

In this month’s newsletter, we start by providing several savings tips to those that are thinking about their next trip away. Personal insurances held inside superannuation can be helpful. In our animation, we discuss the super-linking strategy with regards to Total and Permanent Disability (TPD) insurance. Given self-control is an important part of managing your personal finances, especially in relation to decisions on how you spend your money, we look at several of the results from the renowned Marshmallow Experiment. We explore the financial attitudes and behaviours of everyday Australians because whilst on the path to financial freedom, occasionally it can be helpful to gain perspective along the way, by considering the financial attitudes and behaviours of others. There are a number of fables that have stood the test of time, many we remember being told as kids. There were often important life lessons to be learnt. We showcase a funny video that brings to life one of the most famous fables, ‘The Hare and The Tortoise’.

Financially-savvy travelling in retirement

For some retirees, travel can be a high priority, especially early on in retirement. You may want to capitalise on the time and resources available to you by travelling whilst you are still fit and healthy. Here are some savings tips to help with planning that next trip away (wealth accumulators may find it helpful too!).

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Super-linked TPD insurance

Many important considerations are taken into account when establishing a Total and Permanent Disability (TPD) insurance policy that appropriately reflects your needs. In this animation, we illustrate the super-linking strategy when considering claim definitions and the subsequent structuring of TPD insurance.

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The marshmallow experiment and personal finance

In our daily lives, we are constantly confronted with situations in which we are required, or in some instances encouraged, to make a decision about what we spend our money on. We discuss several of the results from the renowned Marshmallow Experiment and how they may apply to your personal finances.

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Financial attitudes and behaviours: The power of perspective

Perspective can be a powerful tool when used appropriately. Have you ever wondered how you compare to the average Australian in terms of financial attitudes and behaviours? We look at several of the findings from ASIC’s latest Australian Financial Attitudes and Behaviour Tracker (Wave 5).

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Long-term investing: The hare and the tortoise race

In this video, we see a famous fable come to life with a race between a hare and a tortoise. This is a timely reminder of the importance of long-term investment fundamentals, for example, diversification, asset allocation, risk versus return, liquidity, compound interest and dollar cost averaging.

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