Wealth creation strategies, topics and specialties

An investment guide for your 30s Eureka Report

Financially independent and retire early (FIRE)

• Aussie Firebug They say “Aussie Firebug is an anonymous blog detailing the journey to financial independence through investing in real estate, low-cost index funds and Super. By investing at a young age and consistently it is possible to reach a point where your investments pay you enough money to live off. Once you get to this point you are financially independent (FI) and can retire early (RE) or do better things without the constraint of your job…[I] am trying to condense the 45 years of reckless spending into 5-10 years of aggressive saving/investing in order to reach the retirement part years ahead of the current trend. I will be blogging about my frugal lifestyle and investing techniques along the way to reaching financial independence. ” and Podcast.

• Strong Money Australia and their FIRE&Chill Podcast they say: “we break down exactly how to reach Financial Independence and Retire Early in Australia. We cover everything from saving, spending, investments and living a great life.
  Our favourite bits from the show are uploaded regularly to the FIRE & Chill YouTube channel”
• Millennial Revolution (Canada)

Other bits and Pieces

5 ways to have more money |Glen James shares 5 tips to have more cash Millenial Money or watch on YouTube

Why it’s important for millennial investors to define their goals The Motley Fool, April 2020

Creating an investment plan and Investment Policy Statement (IPS) Passive Investing Australia

Millennials struggle to invest, but property top priority Ross Fox, FirstLinks Morningstar which has got lots of great research into areas millenials are interested in investing in so fund managers can target them.
It’s refers to an extensive survey of 3,000, 22-34yr olds around the world THE IMPACT OF TECHNOLOGY ON INVESTMENT FUNDS.

Managing your money

• Finacial Capability implements The National Financial Capability Strategy, they say: “led by ASIC, informs and drives actions to improve the financial capability of Australians. [it] identifies three behavioural areas in which Australians can be empowered to take control of their financial lives:
  Managing money day-to-day
  Making informed money decisions
  Planning for the future
• Understanding Money – How to make it work for you Australian Government
• 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

Financial and other impacts of Covid-19 and other disasters

• Covid-19 and Credit Equifax
• As the COVID-19 crisis deepens, few Australians have much cash in the bank Grattan Institute
• Supporting people making financial decisions during COVID-19 (FC)Financial Capability (ASIC)
• COVID-19 making financial decisions Steps to look after yourself and your money MoneySmart (ASIC)
• ‘Money’ coronavirus news
• 18 tips for buying and selling shares during a pandemic Marcus Padley, Moneymag

Help with financial decisions after bushfires

Managing your money after a bushfire (YouTube) MoneySmart (ASIC) and Scott Pape (plus others in the 6 video series )

ASIC’s useful Glossary – help understand some tricky money and investing words and phrases
They say “We’re committed to helping Australians of all ages, backgrounds and incomes to increase their financial wellbeing and build a better life. Through the Moneysmart website we:

• encourage saving
• provide simple steps for the 1 in 3 people who feel stressed and overwhelmed by money
• encourage informed use of financial products and services
• increase retirement preparedness
• provide specialist support for priority audiences”

Some of their extensive, useful resources and topics:

Banking and budgeting
Loans, credit and debt

How to invest

• How to plan, choose and track your investments
• Golden rules of investing
• Investor toolkit (Love it!)
• Develop an investing plan
• Six steps to get ready to invest
• Choose your investments
• Diversification
• Investing and tax
• Borrowing to invest
• Keep track of your investments

Financial advice

• Financial advisers register
• Choosing a financial adviser
• Working with a financial adviser
• Financial advice costs
• Problems with a financial adviser

Shares

• Choosing shares to buy
• How to buy and sell shares
• Keeping track of your shares
• Employee share schemes

Managed funds and ETFs

• Managed funds fee calculator
• Choosing a managed fund
• Exchange traded funds (ETFs)
• Hedge funds
• Listed investment companies (LICs)
• Peer to peer lending

Property investment

• Property schemes
• Timeshares
• SMSFs and property

Investments paying interest

• Bonds
• Debentures, secured and unsecured notes

Hybrid securities and notes

Investment warnings

• Investment scams
• Cryptocurrencies and ICOs
• Investment seminars
• Binary options
• Land banking
• Ponzi schemes
• Company director fraud
• Forex tradingSuper and retirement
• How super works
• Choosing a super fund
• Types of super funds
• Self-managed super funds (SMSF)
• Getting your super
• Find lost super
• Consolidating super funds
• Tax and super
• Superannuation scams
• Superannuation calculator
• MySuper funds listGrow your super
• Employer contributions calculator
• How much super you need
• Super contributions
• Super for self-employed people
• Super investment options
• Super contributions optimiserRetirement income
• Age Pension and government benefits
• Super and pension age calculator
• Transition to retirement
• Retirement planner
• Account-based pensions
• Account-based pension calculator
• Annuities
• Super lump sum
• Retirement income and tax
• Downsizing in retirement
• Reverse mortgage and home equity release
• Reverse mortgage calculatorInsurance
• How life insurance works
• Life insurance calculator
• Income protection insurance
• Life cover
• Total and permanent disability (TPD) insurance
• Insurance through super
• Life insurance claims comparison tool
• Trauma insurance
• Making a life insurance claim
• Car insurance
• Choosing car insurance
• Claiming on your car insurance
• No claim bonus on car insurance
• Add-on insurance
• Home insurance
• Choosing home insurance
• Contents insurance
• Storm, flood and fire insurance
• Health insurance
• Funeral insurance
• Pet insurance
• Mobile phone, tablet and laptop insurance
• Travel insurance
• Consumer credit insuranceMoneysmart for teachers
• About Moneysmart for teachers
• Teaching resources
• Professional development for teachers
• Moneysmart in schools

MoneySmart (ASIC) Here’s their About video  (where you can subscribe to their YouTube Channel and access some helpful videos) where they say “As a key initiative under the National Financial Capability Strategy, the Australian Securities and Investments Commission’s [ASIC] Moneysmart program helps you take control of your financial life. The Moneysmart website provides free calculators, tips and guidance for all Australians so you can make informed decisions, manage your money day to day and plan for the future. Moneysmart also supports teachers across the country to teach students about money to prepare them for the real world. And ASIC works closely with Indigenous communities to tackle some of the most pressing financial issues affecting Aboriginal and Torres Strait Islander peoples’. Moneysmart is for all Australians, whatever your situation, wherever you find yourself in life. Because when it comes to managing your money we all need a place to start.”

Here’s the MoneySmart Playlist if you want to check out some investing basics, tips and tools: (I’ve added some links – you’re welcome!)

• MoneySmartRookie They say “Are you going through some first-time experiences like buying your first car, moving out of home, first job or getting your first big bill? Everyone’s a rookie first time around and it’s easy to make mistakes – mistakes that could cost you a lot. Be a MoneySmart Rookie and make smart decisions about your money.” see Kate gets scammed (YouTube) overseas online subscription scam http vs https and many more.
• Finance 101 videos
  • What is super?
  • The difference between a financial adviser and a financial counsellor
  • How to spot a scam
  • Quick ways to start a budget
  • Pay off your mortgage faster
  • Using a buy now pay later service
  • What are shares?
  • What are Exchange Traded Funds [ETFs]?
  • Smart ways to invest $10,000
  • Helping your kids buy a property
  • Increase yor super balance
  • Super investment options explained
  • What are term deposits?
  • Hidden costs of buying a car
  • Pay off your credit card faster
  • Choosing a Home Loan
  • How to check your bank statement
  • What is diversification?
  • How do you buy shares?
• Student life and money such as:
  • Superannuation – what are you owed?
  • Consolidate your super – it’s easy!
  • Do you need to pay for insurance in super?
• Financial literacy education
• Indigeneous Videos
• Women talk money

Five must-read books on the banking royal commission Susan Healy, Moneymag She says: If you have a bank account, insurance policy, and financial planner or belong to a superannuation fund, you want to avoid the wrong ones. One way is to understand the DNA of the companies behind these financial services. But up until last year, journalists had limited evidence of bad practices, extortionate fees and detrimental, inflexible terms.Enter the royal commission into misconduct in the banking, superannuation and financial services, along with commissioner Kenneth Hayne and his legal team. They uncovered so much corruption, self-interest and excess that an estimated $10 billion compensation will be paid to back to customers.
Banking Bad, Adele Ferguson
A Wunch of Bankers: A Year In The Hayne Royal Commission, Daniel Ziffer
Money Spinners, Annelise Nielsen
It’s Your Money, Alan Kohler
The People Versus The Banks, Michael Roddan

The lists of finance, success and motivational books, CDs etc are endless. You’ll find them at Amazon, Penguin Random House and many other sites.

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?

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

Note: Scott has changed paths a little, so this section will need updating

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 start investing successfully. He suggests boosting your income (e.g. 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. (gone now I think!)

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:

Investment basics – be clear on the basic principles of investing, improve your investing skills over time and avoid the costly pitfalls

Fixed interest – consider fixed income alternatives that may best suit your investing needs

Shares – learn how to invest in shares and the different ways ways you can approach share investing

Property – learn about the various type of property investments including residential and commercial property

Other investments – understand the range of investment options and make informed investment choices

Portfolio management – learn about investment strategies, administering your portfolio and the pros and cons of the DIY option

Superannuation – learn about superannuation to help you make the the most appropriate decisions on how to save your money, particularly for your retirement

Estate planning – learn about wills, powers of attorney, testamentary trusts and other important estate planning issues

The AIA will also help if you’re looking for 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.

All set out in the categories:

• Business NewsAnalyst,
• Newsletters and Software
• Superannuation, Government, Regulators
• Newsletters
• Software
• Brokers
• Television Business Channels
• ASX Listed Companies

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

 In 2015 the Eureka team set up brightday Superannuation and Superannuation Advice online(rated in our Guru section) 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

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 by 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…”

The power of compounding by brightday

How it can work for you! by MoneySmart (ASIC)

Compound interest calculator by MoneySmart (ASIC)

Investing 101: The Concept of Compounding (Investopedia)

MoneySmart (ASIC)

4 key questions to get your insurance right by Christine St Anne Switzer Daily

Journey Skills Leading Young People With Additional Needs Toward Greater Independence Debra and Graham Caldow

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

Commentary and resources:

• How a 30-something couple got rich and retired by not joining home ownership ‘cult’ watch Ditch the Home Ownership Dream You Tube
• Dale Gillham: Three golden rules to share market success
• James Leitz: The Stock Market vs Real Estate Investing
• 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?
• Christopher Joye: Damned Lies and Statistics

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:

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

One of many™ Website, Blog, Podcast.  They claim to be “women leading the change they want to see in the world”. Some of their stuff:

How Does Money Stop You Making a Difference? (Podcast) Joanna Martin and Ann Wilson

Ellevest (USA) Their tagline “A new way to money Invest, bank, and do more for your career. Ellevest was built by women, for women.The financial industry wasn’t.. Ellevest is a financial company on a mission to get more money in the hands of women… Founded in 2014, Ellevest is led by CEO and Wall Street veteran Sallie Krawcheck, who realized that financial products weren’t serving women. Ellevest’s monthly membership provides access to personalized investing tools, banking services, coaching expertise, and learning resources. Ellevest also offers Private Wealth Management for those looking to invest [US] $1M or more. The company is made up of a diverse team from product, engineering, design, and finance backgrounds. In 2018 and 2019, Ellevest was named to LinkedIn’s list of top start-ups and CNBC’s Disruptor 50 list..”

MoneySmart (ASIC):
Women and Money Infographic
Women’s money toolkit
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

Some great articles: (Any you want to share? I’ll add more as I find them)
50 Motivational Quotes From Disruptive, Trailblazing, Inspiring Women Leaders