In almost every area of life – whether it's marriage, the workplace, or taking care of our health – we are often our own worst enemies. The realm of personal finance is no different. What's the biggest threat to achieving financial independence? Unfortunately, it's your own brain.
The Mexican fisherman parable
To re-evaluate what really matters in life and to discuss the psychology or mindsets that got us to where we are today, there's no better explanation than the story of the Mexican Fisherman.
Financial planning should be the natural friend of good insurance coverage
I had a friend who said that the trick to sailing in all conditions around the world was to know that sometime your boat would sink. He felt that keeping that fact at the forefront of his mind kept him prepared.
Why is it so hard to talk about money?
Over the course of our lives, there are many uncomfortable questions and conversations to be had. Those dealing with money are perhaps the most persistent and difficult. The repercussions of not talking about our finances can be severe, with negative consequences to our health, wealth and happiness.
Ignoring advice can have consequences
A good adviser doesn't give advice unless it's aimed at improving someone's situation. Ignoring advice will generally come with a self-inflicted penalty. Somewhere down the track, not taking action will be to the detriment of that person or their family.
Investment lessons from betting on the nags
The Tarzino Trophy Daffodil Raceday on September 1 launches Group 1 racing for the season, bringing the big guns of New Zealand racing to Hastings, to battle at one of the country's stellar racing events.
The Fortnite power of attorney
A power of attorney (POA) can be a difficult topic on several levels, especially for those who don't or won't understand it because they don't think anyone should act on their behalf. Or in the case of an offspring, have their eyes on a financial prize when the elder departs.
The top 10 excuses we make about bad money decisions
Human beings have an astounding facility for self-deception when it comes to their own money. People who make bad money decisions can often rationalise them. Here are 10 common excuses.
Q and A: Canadian pension expert Barry LaValley
Canadian retirement expert, author and founder of the Retirement Lifestyle Center Barry LaValley was in Hawke's Bay this week, talking to clients of the Hastings-based Stewart Group, and addressing about 60 people at a public meeting on retirement issues in Hastings.
The vacationer's guide to investing
Two colleagues went on holiday separately. One had a great time. The other had a miserable experience. Their respective stories provide valuable lessons, not just about taking a vacation, but about investment.
The Value of Portfolio Modelling Simulations in Financial Planning
As part of our financial planning process, when clients have to make important decisions, we like to “stress test” their plan. One of the tools that we may use is a Monte Carlo simulation.
Financial plan is like a voyage - so have navigator onboard
Embarking on a financial plan is like sailing around the world. The voyage won't always go to plan and there will be rough seas, but those who are prepared, flexible, patient and well advised greatly increase the odds of reaching their destinations.
The Devil wears nada
The global fashion industry is fickle by nature, pushing and then pulling trends to keep hapless consumers forever turning over their wardrobes. Some people in the financial services industry work the same way.
Busy investing is not smart investing
A big part of the financial services industry has a vested interest in convincing you that the key to a successful investment experience is staying busy. Where you stand in the debate about staying "busy" by thinking like a trader often depends on whether you see investment as the means to an end or as an end in itself!
Going green with your investments
According to a global sustainable investment group that covers Australia, New Zealand and other developed nations, assets managed under "responsible investment" strategies increased by 25 per cent between 2014-16 to US$22.89 trillion.
Money talks with your kids
Providing our kids with a strong financial foundation starts early and at home. To become a positive financial mentor for children means understanding how to approach the conversations.
The espresso portfolio
When you haven't got much capital of your own, the road to financial security can seem long, hard and complex. But the truth is that wealth building is relatively simple. All it takes is time and the price of a cup of coffee.
Which hat are you wearing?
Most of us have multiple roles — as business owners, professionals, workers, consumers, citizens, students, parents, and investors. So, our views of the world can differ according to whatever hat we're wearing at any one time.
Rainy-day Investing
Like farmers planning a harvest, investors pinning their expectations on statements about arithmetical "average" investment returns can be disappointed. As with rainfall, market returns are rarely evenly distributed either across time or place.
A retirement confab with the folks
It's easy to avoid discussing money with your parents, and in some families, the subject is almost taboo.The topic doesn't become easier to broach as parents and children age, but it does become more important.
