Do you thank Robbie?

Yes just maybe Robbie the coach could be a reason that the Wallabies won the Tri-nations for the first time in 10 years. Of course it can always be argued that playing @ home or a new captain or it was a damp ball that contributed  to the result. 

We certainly have seen some revolving doors recently in the AFL when teams don’t perform & the coaches are marched. Hence there is some correlation between coaches & results & the Arsenal recent result was a one off we hope.

As we do we have recently attended various professional seminars as that is an expectation of ourselves & clients to be able to provide not only the macro picture but also the micro. We could easily expand on each one but it was our last attendance at a technical seminar run by a major organization that really had us thinking.

The presentation had the theme how much better off clients will be after they have had financial advice. So in the kit for that day which started with a disclaimer was a strategic update, a 160 page superannuation guide, a 46 page pocket guide& a regulatory insurance guide website.

These are all only summaries of Canberra red tape.

Now we used to love detail & our 1^st degree is in pure maths. However this stuff is pure strangulation.  At least with maths the rules doesn’t change. However this stuff changes daily which is why 80% have no interest in their super as it is out of control.

Canberra is suggesting that clients be ‘player coaches’ & should be able to do their taxx returns on line & they shouldn’t need any advice on all matters financial. This could be on their possible largest asset which is their super or their biggest liability which is their mortgage or how do we retire on more than the pension or the ‘what ifs?’ of life.

How often does that work? Whose benefit is in when the maximum taxx refund isn’t claimed or if there is a better taxx effective way to be paid? Is there a better solution than a chook raffle after a personal tragedy?

 Have you ever filled out a Centrelink form & how often do they want to be updated & what are the consequences?

If the fallback is Canberra then that is the solution that only Canberra wants.

As the presentation discussed the major reason for advice is strategic.

One page of the presentation was that strategies are not ‘set & forget’.

·         Strategies are meant to optimize your position

·         They can be affected by changes in taxx, super & social security. I.e. Canberra

·         Strategies can be affected by age, employment status & other variables

·         Certainly cashflow affects all families & businesses.

As Robbie coaches it is the big picture which is reviewed on every Monday after the game & how to prepare for the next game. The details are then refined & acted on. As recent Wallaby events have shown there are always variables that should have been  handled  correctly.

As discussed previously preparation means the outcome should be better. This means for you that at every financial decision some guidance is wise. Isn’t your time & your money so valuable & important that you would not like to waste it.

A conclusion also made was that a review every second year did provide an improved outcome compared to those who ‘set & forget’.

I.e. there is a cost to not meet & review. Canberra is suggesting that clients opt in every second year. If they don’t then clients will be generally worse off in end benefits. We will certainly opt in to opt out should clients opt out.

Peter  this week is a believer in focusing on what he can control during times of market turmoil. This means concentrating on buying opportunities, keeping investment costs and taxes to a minimum --.

Other points in the article are

·         to maximise super as you have to play by today’s rules

·         focus on asset allocation [e.g. you could argue is your industry fund is balanced?]

·         controlling the income flow of investments

·         retiring latter as assets values have fallen. This means health is essential.

You might note ‘Having  a takeaway coffee twice day costs Sydneysiders more than annual electricity bill | is a simple strategy.

Reviewing if your super bats for the other side is another idea when we read of misuse of union funds.

We have just been asked if Sandra was our dentist. As all know the dentist suggests every 6 months. The car requires a service every 6 months & if we recall correctly where Robbie’s grandstand is they require ‘road worthies’ every 6 months. Coaches need to on the training paddock with the players.

We suggested after the Tri Nations that maybe Robbie out coached the All Black coaches.

This week we have had very useful reviews which have generally settled any doubts. Any communication is good & no communication builds up the negatives.

If you ‘are stuck’ & want to improve your financial game then you are welcome to call us on 07 3848 1088 or email us or visit our websites.

We promise that your time won’t be wasted & you will know more about your money.

It costs not to contact us & we are non- aligned & servicing clients for 27 years.

John McAuliffe