Money Over 50

When it comes to retirement savings, there are a select few numbers that are more important to your retirement savings than others: 8% - Average a return of 8% every year through investment. 5% - Draw an income of 5%. 0% - Pay 0% tax on your income. $1.6M - The amount a couple may need for a comfortable retirement. Keep in mind, these are just the average figures that we tend to see. In reality, t...

When borrowing money, you are making a decision now that your future self will need to pay for (in the form of loan repayments). It's important to truly think about whether or not your future self, which is still you (don't forget), will be happy with the purchase you make today. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

In this episode, Michael and Dallas discuss why 60 year olds are much more employable than they think, especially in regards to doing part-time work in retirement. When you are 60 and actively pursuing work, it is most likely that you are full of desirable traits e.g. great work ethic, reliability, & enthusiasm. Just go for it, and you'll surprise yourself. For all listener questions/feedback, ple...

The old saying "no news is good news" holds true in the world of financial planning. The benefit of a good financial adviser is that they are able to put effective plans in place that make sure you are doing all the right things. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

When you are 45 years old, you're life goals and focus are distracted from retirement as you tend to have so many more things to worry about. Once someone hits 50, they tend to switch their focuses on planning for retirement and doing what they need to get in the right position. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

Clients often wonder why I'm able to predict how certain decisions will affect them financially and emotionally in the future. A combination of expertise and experience has given us a type of "muscle memory" allowing us to see the consequences of most actions. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .  

It's unfortunate that we live in a world where service providers are able to take advantage of an information imbalance between them and the consumer, and effectively "steal" from them. This episode provides some tips on how to avoid the crook/charlatan. For all listener questions/feedback, please contact the team at podcast@mo50.com.au . 

I think it is relatively safe to say that most people would prefer to not go to any doctor's appointments, they just want to be healthy. The same is likely to apply in financial advising, they just want to make sure that they are going to be OK. It's our job to make sure that our clients are doing well; if we can determine that they are financially "healthy" then we'll give them the option to come...

Getting your retirement savings to where you need to, requires both hard work and good work. Are you doing the work that you need to do, and are you doing it in the most effective way? A combination of your hard work and our good work can ensure you make the most out of your wealth-building efforts. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

When it comes to growing your retirement savings, there are many steps that you will need to take! Here, Michael and Dallas break down these steps and help you understand what it is that you need to do to really make a difference to your wealth. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

Dallas and Michael discuss the difference that an extra $100,000 (or any other amount) can make to your retirement income. They reveal how long this money could last to help fund extra discretionary expenses, such as travel. How much income can you draw from an extra $100,000 in retirement savings. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

Dallas & Michael discuss interest rates, more specifically, they focus on some of the reasons why you might be better off with a variable interest rate loan. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

Your home is a consumption item in the same way that you're car is a consumption item. Just as you are not going to expect your car to generate you a return, you should also realise that your house will have it's own running costs &/or depreciation costs. It's not to say you shouldn't own your home, because it's an important lifestyle choice of many Australians, you just need to be honest to yours...

In retirement, if you can run one vehicle rather than two, you'll be able to save yourselves a few thousand dollars each year to spend on something you'd enjoy much more. Of course there'll be times you and your partner may need a separate car, but owning a second vehicle isn't the only option. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

David Lee Roth from the band Van Halen set up an ingenious visual safety clue inside the contract given to venue staff/promoters to ensure that everything was set up correctly... there were to be no brown M&M's in the bowl they'd receive an hour before their show. We have to rely on third parties such as superannuation funds for the safe custody of our client’s life savings.  As our clients work f...

As a person living in our current age, it is pretty easy to fall into the trap of constantly worrying about money. However, when you have a really good think about what's available to us now (modern medicine, air-conditioning, surplus of food, machines that drive us between locations, etc.), you can see that life is actually pretty good. For all listener questions/feedback, please contact the team...

Capital Gains Tax can cause the net earnings from the sale of a business asset to be significantly reduced. In this episode, we discuss small business CGT concessions that can help provide HUGE tax savings if you were to meet the eligibility requirements. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

We've discussed why someone should setup their own business in semi-retirement and type of people who would benefit the most from this. Now we'll discuss how to do this, or more specifically, what things you should look out for and what to avoid. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

In the previous episode, we discussed why someone should setup their own business in semi-retirement. In this episode we discuss who can really benefit from having this in their financial/life plan, and looking at who this might be a bad idea for. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

One option that a lot of people tend to not think about, leading up to retirement, is to setup their own business doing something that they are passionate about and enjoy.  For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

Spending is down and savings are up….  Your typical news headline during a recession.  This is always portrayed as kryptonite for companies, however, the last time that we checked, "no one is raking up cash and setting fire to it!" (Michael Hogue 2008).  Since the dawn of time (another classic claim that Michael often overuses to start a sentence) companies have been adept at moving quickly to red...

Setting up an investment for the kids/grandkids used to be a fairly hard and costly process. Nowadays, there are programs out there that are easy to use and allow you to start the investing process with only a small sum of money. One of the programs that we like to use for small investments for our kids is RAIZ. For details about RAIZ, please click on the following link https://raizinvest.com.au/b...

March 2020 the entire country was in fear of not having a job with the outbreak of Covid-19 around the world. In the short space of 12-months to March 2021, the country has gone from "scarcity" mentality to an "abundance" mentality. One such area of expenditure that has increased is luxury cars. Michael and Dallas have observed the significant increase of Dodge Rams (amongst other luxury cars). Wh...

This episode discusses the new changes to the Australian superannuation contribution caps. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .

There's no point wasting your energy on stressing about saving money when you're not going to do it. For all listener questions/feedback, please contact the team at podcast@mo50.com.au .