A 2012 Study conducted by fund manager Challenger identified that the average Australian is retiring with just $60,000 in superannuation. Now many of the people retiring today have not had the lifelong benefit of employer superannuation which only became compulsory in 1992, however $60,000 is still a depressingly low figure. While most of us will have the benefit of compulsory employer contributions to help bolster our retirement savings you can be absolutely certain that employer contributions alone will not be enough to give you a comfortable retirement.
How to Budget : Physically Have the Money to Cover Your Expenses
How to Budget Principle #5 In Grandma’s days, budgeting was always a very tangible task. Either the money was in her jars or wallet to spend or it wasn’t. It was always very clear if you had the money to cover an expense. In today’s world of virtual jars and online banking it is easy for there to be a disconnect between what our budget says we have to spend and what our bank account says we really have available.
How to Budget: Have a System for Tracking Your Spending
How to Budget Principle # 4 At the beginning of this “How to Budget like Grandma” series, I shared with you how my Grandma used a simple system of glass jars to manage her finances. Grandma knew how much she needed to put in each Jar every payday to ensure that she had sufficient money set aside to pay each bill as it turned up.
The Power of Healthy Habits
‘Chains of habits are too light to be felt until they are too heavy to be broken’ – Warren Buffett As a financial adviser, I have read many of Warren Buffett’s books and quotes but it wasn’t until recently that I came across this one.