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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Duck the Cova

The financial turmoil of the last month or so has touched all of our lives at least in some small measure and will continue to do so in larger measures for a long time to come. Every single action or reaction to the world wide virus by governments, medical experts, idiotic celebrities and individuals must bring to front and centre the fact that “no man is an island”. When I had just turned six I was sent off to a country boarding school. I was unknowingly carrying mumps which didn’t show up for about a week, by which time there was an epidemic among the four boarding schools in town – two each for boys and girls. My sister did her share of spreading the illness! That was fairly dramatic, but

Money Isn’t Everything

Every so often I remove from their tiny cases, so that I can wear them, a pair of gold cufflinks that I bought in Hong Kong in the days when the price of gold bullion was fixed at $US30 an ounce. I am not going to melt them down (they weigh only 9 grams together) but today even that amount of gold would buy a very respectable case of superior wine. A Dutch friend of mine who grew up in German occupied Amsterdam told me that one of the major items of currency at that time was household soap. You could at least wash with soap – all you can do with gold is admire it. We should remind ourselves regularly that money is basically a “means of exchange”, but people worldwide (beginning in childhood)

Skiing

The first time I ever went skiing I met an 80 year old gentleman whose personal “bunny slope” was the front lawn of the communal dormitory which gave him a “run” of about 20 metres, including turns. The hundreds, maybe thousands? of 80 year olds who "ski" now, do not don skis and parkas but grab their passports and head off to sun soaked Hawaii or the shops of London, Paris and New York. This kind of skiing is, of course, “spending the kid’s inheritance”. I suspect that the vehement statements by parents that they have given their kids an upbringing, including the education and above all the opportunity to meet all their goals in middle age without relying on a substantial inheritance, are o

Looking Forward to Today

The fact that I can remember the attack on Pearl Harbour puts me in a clearly defined age bracket. The first time I meet them people often ask me “What did you do?” There is a basic assumption in our society (set in concrete by the government paying age pensions to 65 year olds) that we all have a use-by date. Our society is structured in such a way that a very high percentage of our population who have a career (as opposed to a job or a series of jobs) aspire to and maybe even enjoy about 25% of their entire life on this planet in retirement, that is, without work. Unless you can bounce out of bed each day and utter the words “whoopee I’m going to work today” then you should be looking to d