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:

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

  • Estate Management

  • Taxation advice

  • Investment advice, including superannuation

  • Business structure advice

 

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

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Old Father Time at Work

About 35 years ago, a friend who was also a client, asked my advice about how to structure his borrowing and investing following his recent purchase of a house. Working on the principle that although DEBT is a four-letter word, it is not one of those four-letter words, I recommended a substantial borrowing for life, coupled with a matching substantial investment, also for life. Those people who grab the Financial Review and read it from front to back page daily, will hate the idea of setting and forgetting (albeit accompanied by an occasional look to see how things are going). My plan involved having a $100,000 debt, a line of credit secured by mortgage, coupled with a $100,000 investment w

Whose Money Is It?

Last week I raised the age-old question of whether we have a basic right to manage our money in any way we wish it’s ours. The more this question is asked the more we are challenging the organization of our community and the society in which we live. Karl Marx, apart from being a sociologist, also had claims to being an economist and his concept of profits linked with state owned enterprises was significantly tested when the Berlin Wall was knocked down and Germany, East and West, returned to a single central government. Every single dollar that finishes up in the government coffers is our money and our government holds its wealth IN TRUST for current citizens. The government wealth is our w

Saving and Super

The COVID-19 crisis prompted the Federal Government to allow people of all ages, not just those over 65, to access their super early. I understand that at this time the sale of motorbikes took a significant jump. I’m fairly certain that very few people past retirement age were responsible for this hike. As Treasurer, Paul Keating was responsible for introducing our current system of superannuation, and I’ve never ceased to declare this the most significant financial event of my lifetime. This is the classic win/win situation for both the government and the pensionable populace. Noel Whittaker’s classic guide to wealth creation/preservation recommends saving 10% of your income starting with y

Habits

One of the characteristics of the human race, and also for some members of the animal kingdom, is the regular repetition of activities which can clearly be defined as habits. Some of these habits are bad or at least not especially beneficial. Some are charming – they “grease the wheels” and make our social life happy. Some are good – they are beneficial for our wellness and economic survival. For all of us, our life is guided by habits, conscious or otherwise, which have become part and parcel of our person over our lifetime. My one single conscious habit is that I NEVER offer silver coins for payment of any purchase. I have a 25cm high money box into which I empty all silver coins and they