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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Betting on Certainties

The expression “betting on certainties” should never refer to horses, dogs, racing cars or bikes, and I prefer to interpret that expression to mean betting on the existence of the object of the bet. I don’t gamble but I once had a $100 bet with a mate that my golf partner would be the winner of the nearest the pin shot on two of the holes we had recently finished. One shot left him with a 3 inch putt and the other with a longer 12 inches. I had seen the shots, my mate had not. Of course I won the bet but after an hour of argument my mate wore me down and we agreed to buy $100 worth of lottery tickets. Being interested in numbers I grabbed a copy of the most recent newspaper giving results fo

Gift or Income ?

In the April issue of CPA Australia’s “In The Black” magazine there was an interesting article on tipping - something you have never done if you have never eaten in a restaurant, taken a taxi, or had your bags taken to a hotel room by a porter. The first time I visited the United States I was shocked to find bar staff who weren’t paid a wage at all – they lived on tips, but as a teenager I was equally shocked to hear the rumour that the doorman at one of Sydney’s leading hotels owned two rental properties at Vaucluse. The standard tip to him for whistling up a taxi or opening the car door for an arriving guest was 2 shillings! We don’t have gift duty in Australia any longer. If you consider

Insure Your Biggest Asset – Your Salary

In Napoleon Hill’s classic book “Think and Grow Rich” he takes a well-structured swipe at insurance companies, particularly in relation to life insurance. While studying law 30 odd years ago I was amazed at how many insurance companies featured as defendants in breach of contract cases. Our own Banking Royal Commission understandably turned up a few bad eggs. I once encouraged a client to cancel his million dollar life policy because he had so much money that this payout would just make his estate even more impressive. Despite his firm conviction that he would live another 20 years, he died 18 months later. I got no thanks from his family for saving them $14,000 in insurance payments! In my