At age 44 it feels like a bit of a milestone, to finally turn my back on ANY access to credit and lending of any kind. I seriously feel a bit like a grown up now and I’m kicking another Australian owned bank to the curb and chopping up my credit card.
I have reached a point where I’ve learned a bit more about myself. When I heard that the stock market had “plummeted” it actually didn’t unnerve me at all. Warren Buffet would say that I have not lost anything, because I didn’t sell, the value of my investments has simply changed and by my calculations, I’m down 4%. If I freaked out and sold then I would have locked in my losses. But I didn’t and I won’t.
Once WE as adults become better with money then it’s natural that we want to enlighten our kids, grandkids, nieces and nephews so this book is a must read in my view because it guides you through the steps of how to do it WITHOUT annoying the hell out of the child.
My 16 year old nephew needed a bank account, so I said I would help him out if he wanted me to. An aunt who loves anything personal finance related could not bear leaving a 16 year old in charge because I knew that absolutely NOTHING would happen. So I devised him his very own “master banking plan”.
I don’t subscribe to the view of “leaving my daughter to it”; that when she is old enough she can earn her own money and save for herself and she will miraculously become wealthy. In my view starting young, learning how money works and investing over a long period of time is the way to get ahead.
I received an email in August from a woman who finds herself moving on from a 20 year marriage. She is discovering the freedom of now going it alone, but the journey is certainly not an easy one.
Recently I had an excellent question from a fellow Happy Saver who had been comparing SmartShares, SuperLife and Sharesies, not so much to find the lowest fees, but to work out which has the smoothest and easiest system and which one allowed him to purchase shares in the fastest time.
Today I wanted to answer a question that was asked by Linda. She is interested in looking at the pros and cons of taking her KiwiSaver as a PENSION versus a LUMP SUM invested in the bank and using the interest to supplement her government super…
