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.

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Spreading the benefits

Karl Marx was not a politician but he sure has made his mark on the world. No one could deny his appropriate system for managing society – “From each according to his means, to each according to his needs”, in other words the rich feed the poor. This disdain/dislike/dismissal of capitalism as evil takes us all back to an agrarian equalitarian society, but that is such a Utopian dream for all the old blokes with crook backs who couldn’t pick strawberries even if you offered them $1000 per strawberry. All party political leaders seek to glorify and bend over backwards to help the struggling “hard working Australian”- why are they struggling because if they are hard working they are also very w

Looking after the “Kids”

Whenever I ask a couple how much money they want to leave for their children the most common answer is “we have done lots for them during their lifetime so it doesn’t matter”. Always the lady of the house has her hands behind her back with fingers crossed because she is telling a fib. She wants to leave her (usually adult) children better off than she was. Surely depriving yourself of something you want to do or something you would love to have in favour of your adult children is going above and beyond the reasonable expectations of second generations. If you are lucky enough to inherit $500,000 what universal law says that you must leave that same sum to your kids?

"All that glisters..."

The “gold standard” for many years governed international trade and for a very long time, at least in Australia, the sale of gold was very heavily restricted. If you mined it you had to sell it to the Government and the price paid was fixed for years at $US30 an ounce. Predictions of a gold price of $2000 before Christmas (which Christmas?) are regularly trotted out, but I find the most fascinating part of the gold world is the transfer of pallets in the vaults of London, Paris, Fort Knox or Moscow from one side of a vault to another in satisfaction of one country’s debts to another. My former chemistry teacher was horrified by the thought that platinum (in my school days, worth much more th

The "Great" Depression

I was born while the effects of the “Great Depression” were still being felt but by that time Hitler was starting to be a real nuisance. Bearing in mind that every day and every year we are all subject to the absolutely predictable cycles of 24 hours in each day and 365 ¼ days in each year (congratulations Pope Gregory!), it is equally predictable that futurists and economists will suggest that there are a great many cycles, especially in the fields of weather and economic activity. Some people think these are “acts of God”. After I studied economics at University one of my lasting memories is the comment from Professor Gifford – 65 years after he told my class – “an economic depression is N

Foreign Soil

If you are planning a world tour taking in Singapore, Switzerland, Italy, Germany, England, Canada and the United States, your daily financial needs will require six different currencies. No matter how experienced or switched on to foreign exchange you are you will be faced with serious decisions about your personal finances each time you shift from one country to the next, beginning with the first touchdown in Singapore. Of all the advances in foreign travel made over the past 30 odd years a major one has been the ease of payment using credit cards or, better still, debit cards if you are away for 4 weeks or more. There are some foreign currencies that are hard to sell in Australia (because