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Working Class Returns
Read more: Working Class ReturnsSeven News recently featured a story on rocker Jimmy Barnes. Jimmy was selling up his family home in Sydney to move to his new base in the Southern Highlands of NSW. What was the price to take over the working-class man’s converted Botany warehouse? Jimmy was hoping to get $4 million, after paying $1.61 million 17 years ago and spending another $1.6 million on renovations. The Seven reporter described it as a “clever investment”. If Jimmy and his family hit the $4 million sale mark (being Sydney, they’ll likely blow past it) we still wouldn’t describe it as a “clever investment”. Putting…
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The Blind Leading the Blind
Read more: The Blind Leading the BlindOn the 4th of August, CommSec, Australia’s largest online broker released a statement. It began: The limits on trades without a cash deposit are changing from 04 September, 2021. In light of recent market volatility, CommSec is changing trading limits to help protect our customers and minimise risk associated with investing and settlement. In the good old days, there was something known as T+3. You could buy a stock and your broker would give you 3 days to settle the trade, i.e. come up with the money. It provided an open window for retail traders to chance their arm on buying…
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One Hit Wonders
Read more: One Hit WondersThe one hit wonder is a particular phenomenon in music that can be traced back to the inception of the Billboard Hot 100 music chart during the late 1950’s in the US. Generally speaking, it’s a singer or band who may have topped the music charts (or at least made the top 10) in a particular country, or even around the world, with one song, but never came close to reaching those heights ever again. It can be a subjective measure. Maybe an artist had a big hit across the world or in the US and was never really heard…
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2021 June Quarter Review
Read more: 2021 June Quarter ReviewEconomic Overview Attention turned to vaccinations and reopening economies in the second quarter of 2021, by the end of the quarter over 3 billion vaccine doses had been administered globally. There are now strong indicators of a robust and lengthy economic expansion ahead. Around the world there are now businesses desperate to hire new employees, millions of consumers with money burning holes in their pockets, and ongoing fiscal and monetary support from governments and central banks. In the US, the positive news around COVID was vaccinations. While President Biden had set a goal of 70% of all adults vaccinated by…
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End of Financial Year Reminder 2020/21
Read more: End of Financial Year Reminder 2020/21Salary Sacrificing a Bonus Awarded a bonus at work? Depending on circumstances, it may be worth salary sacrificing the bonus into superannuation. This can increase retirement savings & lower taxable income. The benefit depends on the difference between the 15% tax on super contributions and your marginal tax rate. Also be aware of the concessional contributions cap of $25k (increasing to $27.5k on July 1). Lump Sum Contributions & Carry Forward Cap If you haven’t used your concessional contribution limit of $25k and have money available to contribute, this is the opportunity. Further, if you have a larger sum of…
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