Comfort with Money

by Rodney Gibson Financial Advisor

I am a sole practitioner with 40 years experience in finance, taxation, law, business and accounting. I am currently associated with SALA Financial Services. I provide the following:

  • Estate Planning, including wills and powers of attorney (EPOAs)

  • Estate Management

  • Taxation advice

  • Investment advice, including superannuation

  • Business structure advice

 

My aim is to assist you to live within your means and achieve all your financial goals.

Our Recent Posts

Archive

Tags

Patience, or The Benefits of Time

Back when Gough Whitlam was Prime Minister and I only had 10 grandchildren I decided to put aside $100 a month so that when each of the grandchildren got a vote they could celebrate the occasion with a splurge (if that was their choice). When we had 14 grandchildren I upped the monthly deposit to $140. All 14 grandchildren have received $3,000 on their 18th birthday. I stopped putting money in when the youngest turned 14 (she is now 22) and the fund that was established now stands at $10,600. Wine matures with time. So too does money! PS. I spent what was left over!

Pension Payments

My mother and her mother were both age pensioners and neither of them had, or needed, any further income than that provided by the government. It is my understanding that an age pension as small as $5 a fortnight entitles the pensioner to some worthwhile discounts, some of which are also available to holders of the Seniors Health Card. Some pensioners with a full pension (and I have met many) are terrified of losing ANY of their pension as a matter of principle. The principle stinks! If you lose $5 a fortnight because of the receipt of other income why complain about being $5 a fortnight better off? Those who complain must have missed a few classes of arithmetic at primary school.

Insurance

One of the chapters in Napoleon Hill’s “Think and Grow Rich” basically bags insurance companies for “ripping off” their clients. However, one cannot simply bag the prudent planner who puts in place an appropriate safety net in case something bad happens to him – like dying early! When I die, my wife, children, grandchildren and great grandchildren will (I hope) be sad to see me go, but they may also be sad that there is no million dollar payment from a life policy to help alleviate their grief. If you die as the only breadwinner in your family and leave behind a grieving spouse, a mortgage and a couple of kids to be educated, it would be grossly irresponsible not to have life insurance to co

Home Sweet Home

Whenever I go to a city that is new to me I usually do some window shopping in real estate offices. Over the past 30 or so years I have looked in many windows and observed a curious world-wide correlation between the sale price of a house and its potential weekly rental. This has led me to the conclusion that it would always be cheaper to rent than to sink your cash into buying your home. Two cities that did not conform to this general principle were Riyadh and Port Moresby! Decisions regarding “home” can NEVER be made simply on the basis of money – in, out or borrowed. When making a lifestyle decision I commend to you a piece of advice I received when I was in my 20’s and had just acquired