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Purpose Over Details
Read more: Purpose Over DetailsIt was a Wednesday morning, and the coffee and biscuits were all laid out. The room was filled with about twenty over fifties. It was a retirement information session put on by a local council for their employees. After accepting the invitation a few weeks earlier, we were speaking third. The topic was obviously retirement, but the question was: what should we speak about? As we waited to present, the rep from the superfund went through the stuff you’d expect to hear from a superfund. They touched on the income test and assets test, making reference to the fact we’d…
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Greenlights & Redlights
Read more: Greenlights & RedlightsA great relationship, a newborn son, and a successful career as an actor. In 2008, Matthew McConaughey was feeling pretty good about his life in California. Then an unexpected family health emergency took him back to his home state of Texas. Of all places, McConaughey and his young family ended up renting a home in a retirement community to be closer to his mother. There he found a motley group of retirees who lived life without pretence and offered plenty of unsolicited advice about good living. The family emergency, the newborn and the experience with the seniors had him reconsidering…
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Superannuation & Immediate Gratification
Read more: Superannuation & Immediate GratificationOne of the most well-known psychological studies ever done is the Stanford Marshmallow Experiment from the 1970’s. You’ve likely heard of it, know a variation of it, or have watched an interpretation of it somewhere in the media. Testing out the will power of small children or dogs can be entertaining. Dogs being tempted with food are a staple on social media. In the Stanford experiment, the idea was to test the ability to delay gratification. In the first iteration, children were offered an immediate treat (cookies or pretzels) or the choice to wait 15 minutes and be rewarded with…
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Lawyers & Superannuation Insurance Claims
Read more: Lawyers & Superannuation Insurance ClaimsFees. Charges. Costs. How much should someone charge for a service? Whatever the terminology used, the psychology around charging for a service is fascinating. Some service providers can charge without question. High costs from engaging certain service providers have become customary. A small service can take a large financial bite. A fact of life and accepted. What can you do? We’re talking about some lawyers. Before any lawyers feel the need to defend themselves. We’re not quibbling about your fees. It’s like when the mechanic gets a car going in 2 minutes. The owner doesn’t get a discount because they’re…
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Super Problems
Read more: Super ProblemsFor the past few years there has been a battle raging. Certain superannuation funds have not been backward about coming forward about their performance. Their ‘balanced’ options are the headline generators. Take out top spot and it’s plenty of media attention. The fund’s chief investment officer can pose for flattering photos. Even better, they’ll be quoted on market direction and what they see as emerging investment themes. This attention will attract new investors. People switching their super to the winner. For some, the term ‘balanced’ is misleading. True defensive assets are fixed interest (bonds) and cash. Some superfunds have snuck…
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