WEALTH CREATION STRATEGIES| SPECIALTIES| TOPICS

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WEALTH CREATION STRATEGIES| SPECIALTIES| TOPICS

A basic investing principle is to diversify, to vary your strategies and investments. Some options and issues in the wealth industry include:

If an asset class, strategy, specialty or topic isn’t covered here (Book #1 Wealth Creation) you may find it in another BiG Book. Because wealth creation usually involves:

    • Businesses (BiG Book #2)
    • Real Estate/Property (BiG Book #3), and
    • Shares, Funds and related financial products (such as Cash, Foreign exchange ‘Forex’, Gold and other commodities) (BiG Book #4)

Wealth Creation Topics and Strategies:

Ready to manage your money better and/or start investing? Check out:

MoneySmart “a website run by the Australian Securities and Investments Commission (ASIC) to help people make the most of their money.” It covers Managing your Money| Borrowing and Credit| Superannuationn and Retirement| Investing| Scams| Life Events and You| Teaching| Tools and Resources (eg Budget Planner and Calculators: Savings Goals, Superannuation, Mortgage, Credit Card, Pay Day Loans (see comedian John Oliver’s video warning  of their dangers). Heaps of great FREE resources:

Investing Basics | Develop an investing plan | Investing Between the Flags | Meeting with a financial adviser | Choosing a Super Fund

The Australian Investors Association (AIA) is a fantastic resource/community.

“The AIA believes that anyone can learn to invest and pave their way to financial freedom with a modest amount of time and effort.

Financial education is relevant to all ages, so whether you are young and have an interest in making a start on your investment journey or if you are about to retire and don’t know what to do with your superannuation, then this site is for you.”

It has a lot of FREE STUFF  in its Education Section including:

  It also has extensive investing books list and reviews and Useful Websites & Newsletters covering:

General

Market  Reports &/or Financials

Company Reports & Financials Data

Share Prices 20 minutes Delayed

Company Announcements to ASX

Company Price history daily

Company Price Charts

Watchlists

Portfolio Records

Finance & Business News and Commentary Australian

Finance & Business News and Commentary International

Fundamental Analysis & Recommendations

Administration/Educational Material

Company Operations Details

General details of Company Products

Details of Company major Shareholders, Directors Etc

Superannuation

Business News

Analyst, Newsletters and Software

Superannuation, Government, Regulators

Newsletters

Software

Brokers

Television Business Channels

ASX Listed Companies

Scott Pape, The Barefoot Investor – explains often complex financial and investing information clearly and simply, making it sound fun and achievable. Check out:
  • 6 Step Money Plan – ‘a plan to lead you to financial freedom’
  • His book The Barefoot Investor – Five Steps to Financial Freedom
  • His ‘serviette investing strategy’ Serviette Strategy – Bonus Report – v1.3 (1) has helped many people take hold of their finances and strat investing successfully. He suggests boosting your income (eg promotion, extra business) and breaking down your income into 3 money buckets:
    • ‘blow’ – house , car, spending (use cash)
    • ‘mojo’ – online saver, property trust (aim 6 mths)
    • ‘grow’ – superannuation, shares, property investment (compound 7-10 yrs)
  • You can subscribe to his Free Weekly Wealth Letter
  • You can subscribe (pay) to his membership site barefootblueprint which entitles you to join the Barefoot Investor Face Book site.

Eureka Report (now combined with InvestSmart) “provides astute investors with strategies and advice to grow their wealth.”

In 2015 the Eureka team set up brightday (#Book1 Gurus) which has fabulous tools for beginner and advanced investors and has an affiliation with OneVue ” an independent investment and superannuation platform business…” see Investing with brightday 4 Steps

InvestEd “Investing Strategies is about techniques and methods for investing money with the goal of building wealth. Where to invest, how to invest, when to invest, what to invest in, and even why to invest. This is a good place to look for information to help you get started with investing, or to look for new ideas to improve you wealth.”

It’s About Wealth and Me Noel Whittaker

MoneyMinded (ANZ & others)

Here’s The Smart Way To Start Investing Young – Christian Hudspeth Business Insider

How to get started investing – BT Financial Group

How to invest – Money Morning

Managing My Investments – Future Learn“Gain the skills to manage your investments: analyse portfolio risk and plan your pension, with this free online course.”

wikiHow How to invest (USA, basic – but cute graphics!)

Money Management

InvestEd “Money Management is about caring for your money, keeping expenses under control, saving and budgeting. These are all important first steps before investing, whether for accumulating a deposit on an investment property or to buy shares, or simply determining what levels of debt you can realistically service to maintain your investments. Even if you want to just get ahead a bit and have more control over your money – the money management section of InvestEd can help.”

Budgeting

Financial Planners Association of Australia Ask an Expert

MoneyMinded “Develop your money skills for free … If you’re looking to create a budget, reduce your debt or save more regularly.”

MoneySmart Free Budget Planner and TrackMySPEND “Track your personal expenses on the go with this free easy-to-use app.”

Personal Capital (USA) “Free software to help you make smarter financial decisions. See all your accounts in one place with our award-winning software. Our free tools let you manage your entire financial life from one secure place – so you can reach your goals faster.”

PocketBook “By connecting to your banks, we give you a real-time health-check of your personal finances – any time and at your finger tips.”

Financial Literacy

The National Financial Literacy Strategy is led by the Australian Securities and Investments Commission (ASIC). It provides a practical framework for action to guide and encourage all those with a role to play in improving financial literacy for Australians. Improving financial literacy is a long-term behavioural change initiative. It requires a multi-faceted approach and sustained action over time to bring about gradual improvement.” Extensive research on a broad range of topics including – Australians Understanding Money

Australian Centre for Financial Studies

Compound interest

Diversification

Kids and Money

Risk

Insurance

Life, TPD, Trauma, Income Protection

Investing Myths

Property vs Shares

Why invest in shares – some ‘pros’:

  • liquidity
  • low entry and exit costs
  • little active management
  • enter the property market through vehicles such as real estate investment trusts (REITs/(Australian) AREITs) and Exchange Traded Funds (ETFs)

Why not to invest in shares – some ‘cons’:

  • volatility/risk
  • lack of personal control and ability to add value
  • too much or too little knowledge and understanding about the company, its business, its board and management

You might invest in shares because you’re not comfortable investing in property because of:

  • pressures on borrowing, affordability and capital growth – in current financial times (see Michael McNamara below)
  • property bubbles (see Michael McNamara below)
  • the need for active management
  • vacancy and tenancy risks

Commentry and resources:

Sydney University: Understanding investing for long term gain

Dale Gillham: Three golden rules to sharemarket success

James Leitz: The Stock Market vs Real Estate Investing

Michael Pascoe: Shares soar over Bricks’n’mortar

Nigel Ward (InvestEd): Property vs shares the real story!

Caroline Munro: Listed versus unlisted property

Chris Vedelago: Osama Bin Laden and 1001 other property excuses

Australian Property Investor (API): Investing in property or shares

Property Man: Why property investment is better than shares!!

Michael McNamara: Peak Debt marks the limits of affordability and Bubble or paradigm shift?

Kris Sayce: Why Property Investing is for Mugs and Why Contrarian Investing Isn’t Just About Being Different vs Christopher Joye: Damned Lies and Statistics

Superannuation

How much will you need to retire? ASFA Retirement Standard benchmarks the annual budget needed by Australians to fund either a comfortable or modest standard of living in the post-work years. It is updated quarterly to reflect inflation, and provides detailed budgets of what singles and couples would need to spend to support their chosen lifestyle.

Super Reality Check Busting the $1 million retirement myth August 2015 AIST (Aus. Institute of Superannuation Trustees) and VPR have considered the value of superannuation to members facing retirement with relatively low balances. We aim to debunk the myth that $1 million is necessary for a dignified retirement and provide much-needed
clarity about how even small amounts of super can make a big difference in retirement. ”

* Investment Bonds Scott Pape “an alternative/addition to superannuation that financial planners won’t recommend! 10yr set and forget investment …

Pros – more flexible and doesn’t lock up your $ (like super), great tax advantages for high income earners, great for 20-30yr olds”

As a rule BiG doesn’t recommend superannuation fund services and managers. But because brightday is an off shoot of the highly credible Eureka Report, Alan Kohler and team – we will! Their wealth of useful resources and no doubt (although we haven’t used them to manage our shares or SMSF) expertise will be a  great advantage for investors (basic and advanced). Here’s how: brightday (How they work) provide different levels of investor control and education. Tailored to whether you’re a beginner, experienced, or advanced. They have fabulous free resources such as:

Fees v. Performance after fee performance is the main issue – not just the % fee.

Start managing your super

  • Superannuation generally

SuperGuide “is Australia’s only INDEPENDENT website for consumers on superannuation. SuperGuide was founded by Trish Power, author of Superannuation for Dummies, DIY Super for Dummies, Super Freedom, and many other books on super and investing, and Robert Barnes.”

Super Guru

Mark Bouris:

Money Guru – online calculator to assess your current circumstances and where you’ll be financially at 65 yrs, and

Stay Informed about your super “We have a responsibility to ensure people understand superannuation. “

Ethical Superannuation: funds such as Australian Ethical Superannuation

Transition to Retirement:

Transition to Retirement Pensions (TRIPS) SuperGuide

  •  Property  investing and superannuation 

Larry Schlesinger, Property Observer: “SMSF property spruikers competing with charity muggers on Melbourne street corners” and “Melbourne sandbelt SMSF property spruikers face ASIC probe over seminar advertising

  • Women and superannuation

“I am largely concerned that we are pushing women away from super, especially if the current system is forcing them to turn away, or turn off completely.” Mark Bouris and other Bouris articles:

Give Women the chance to Retire Right

Women are disadvantaged in our superannuation system

7 Ways to improve Women’s Superannuation

Fixing the super gender gap – Christine St Anne Switzer Daily

Simple Solutions to Fix Women’s Super – Noel Whittaker

ASIC turns focus to women’s finances “According to the Association of Superannuation Funds of Australia, women aged 60-64 have on average $104,734 in their super balances, while men have $197,054.”

It’s Time to Lean In – Tracy Spicer

Women retire with 43% less super – Stephanie Zillman

Let’s not pretend the ‘bad decisions’ of women are to blame for the gap in super balances – Richard Denniss

Women – money, leadership, business and investing:

MoneySmart (ASIC)

Women and Money Infographic

Women’s money toolkit

Women’s Wealth MoneyManagement

Women with Cents

The secret to Warren Buffett’s success? He invests like a woman.

8 TED Talks women need to watch

Top 50 Australian female entrepreneurs under 40

Adelaide Oval: where women count for nought

Dr Joanna Martin One of Many Shift Lifestyle

Some great articles:

50 Motivational Quotes From Disruptive, Trailblazing, Inspiring Women Leaders

Motivators/Coaches/Mentors – wealth, business, finance and other

The lists of finance, success and motivational books, CDs etc are endless. You’ll find them at Amazon, Random House and many other sites. In Analysts and Commentators and the Gurus for each BiG Book – you will find more.

Some popular and often quoted books and authors are:

James Allen – As a Man Thinketh

Dale Carnegie – How to Win Friends and Influence People

Dr. Robert Cialdini – Influence: The Psychology of Persuasion

George S. Classon – The richest man in Babylon

Stephen R. Covey – 7 Habits of highly effective people

Wayne Dyer – Your erroneous zones

Napoleon Hill – Think and grow rich and W. Clement Stone Success through positive mental attitude.  78 years ago, a journalist studied 500 rich men and boiled down their success into 13 steps Kathleen Elkins, Business Insider

Dr Spencer Johnson – Who moved my cheese? Watch the movie.

Og Mandino – The greatest miracle in the world

Tony Robbins – Awaken the giant within and MONEY Master the Game: 7 Simple Steps to Financial Freedom

Bodo Schafer – The Road to Financial Freedom

David J Schwartz – The Magic of Thinking Big

Brian Tracy – Personal Success Made Simple 

Here are some more general authors and publications to help you with planning, motivation and inspiration (more in Book #5 Investing in Yourself):

Achieving goals/Brain training/Critical Thinking 

Mark Bouris podcast– love it! F#* goals and goal setting – ‘lofty ideals’ better!

Dr Stephanie A. Burns  Some interesting ideas about goal achievement  and Life exerts itself  – just in case you meet obstacles in achieving your goals.

Neuroplasticity and brain training:

Podcasts you will love: Music for your ears and food for your brain

Todd Sampson – can modern science turn your brain into a super brain? TV series Redesign My Brain

Qi. – No such thing as a Fish (podcasts)

Critical Thinking | Information and the Internet

The Internet Makes Us Stupid and Here’s Why Kabir Sehgal-  Fortune

How to teach students to think critically

Dreams and passions

Dr Seuss Oh, the Places You’ll Go at Burning Man!

Alan Watts  What if money didn’t matter

Dr George Blair-West “Did he live with passion?” “The Greeks, when someone died, asked one question: Did he live with passion? … I attended the funeral of a close friend of more than 30 years who suicided … under the influence of the most severe, treatment-resistant depression I have ever come across…. part of a larger, complicated condition of Bipolar Disorder…”

Guru Cops  – here you’ll find warnings, complaints or other information on those in the investment industry. Government regulators, consumer advocates or others such as (their links are on Guru Cops):

  • ACCC (Smart Money, ScamWatch)
  • ASIC MoneySmart
  • Choice
  • Financial Ombudsman Service (FOS)

plus various industry bodies and regulators:

  • ADPIAAFA
  • AIA
  • API
  • IFAAA

ANALYSTS and COMMENTATORS put in names or keywords to find people and organisations who either provide data, or look at investing in general in various markets. They may be economists, financial planners, journalists, or have some other financial qualifications.

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