Imagine if what we know now about finances, we knew back in our teen years – how much better off would we all be? When most of us were in high school, we didn’t learn anything about money, budgeting, or investing. However, nowadays, by the time you leave your teenage years, you’re hopefully no longer financially clueless.
Here are six of the best financial lessons you wish you knew as...
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Financial mistakes to avoid in your 40s, 50s, and 60s
If you’re interested in the mistakes to avoid before you reach your 40s, 50s, and 60s, you can learn more about the financial mistakes to avoid in your 20s and 30s. Read more
We all know that sinking feeling of knowing you’ve been ripped off. Unfortunately, in the financial world there are quite a few offerings, products, services, and outright rip offs that you should be aware of. Awareness can help you avoid that sinking feeling.
While many of these financial offerings are appropriate under the right circumstances, it can sometimes still be difficult to...
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Financial traps and scams to avoid
Like a pack of sharks who smell blood, the scammers are already circling.
A decade or so ago during the Global Financial Crisis, investment fraud and other consumer scams were rampant. As any crisis spurs a degree of fear among at least some of the population, it’s no surprise the scammers are back in force to prey on people’s uncertainties, fears, and lack of knowledge in some areas...
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Financial wellbeing in retirement
Despite financial wellbeing in retirement being essential, you’ll still frequently see some concerning headlines about funding retirement or retirement planning. For those of you who’ll retire soon, or have just retired, read on for eight secrets to ensure your golden years are free from financial worry – and can become the best years of your life.
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The financial markets took a tumble over the past month and have since recovered much of what was lost. However, many in the media largely focussed on the share market falls, talking it up as being catastrophic and unprecedented and warning of impending doom and gloom. However, the recent market fall (technically called a correction) is perfectly normal and historically occurs when...
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Future looking brighter for first home buyers
First home buyers with a ready deposit and stable employment have been making the most of record low interest rates and a yearlong loosening of deposit rules. This is part of the reason there has been a surge in housing market activity since the Covid crisis first struck.
Younger Kiwi’s still love property
Before Covid, some had suggested that younger generations might...
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Traditionally, term deposits have been a popular strategy for many retirees and Kiwis who weren’t quite sure about how to choose or access other investments or needed to access the money in the near future.
What has happened with term deposits?
Before the Global Financial Crisis (GFC), New Zealand’s Official Cash Rate was sitting at 8.25%. The official cash rate tends to...
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How much further can investment portfolios rise?
We have seen a substantial rise in investment portfolios over the past 12 months. However, a new government is now in place and it intends to make a number of sweeping changes to the social structure of New Zealand.
We know from past experience that there is a long-term trend line with investment values for different assets and if markets rise or fall too dramatically, then they will...
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How our brains lose us money
None of us are perfect – that’s what makes us all human! We all make mistakes (big or small) every day. Sometimes our mistakes are minor with few consequences, and other times our mistakes are major, perhaps we make a mistake which impacts our health, those close to us, or somehow costs us money?
We improve our chances of avoiding such mistakes if we’re aware of the common mistakes...
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How rich are you?
There is a handy online tool that enables us to measure how we stack up financially against other Kiwi’s, though before we get to that, let’s ensure we’re using it for the right reasons…
Comparing our riches – why would we?
Humans are designed to understand ourselves and the world around us. The ability to reflect upon things is one of the defining characteristics of humans....
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How the rich spend their money
Ever wondered how the rich spend their money? Here at Milestone Direct, our advisers see such a wide range of people that we understand the spending habits of a wide range of New Zealanders – including the rich.
To help you replicate the habits of the rich, here are seven ways the wealthy spend their money. For those of you wondering what’s so great about being rich after all, scroll...
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Avoiding investment scams is becoming even more important, as recent Australian data shows investment scams have now overtaken romance and dating scams as the most lucrative method of fraud.
Historically, investment scams have been common both overseas and in New Zealand. In fact, it's nearly the 10-year anniversary of when the world’s largest investment scam was discovered. This...Read moreRead more
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How to avoid being suckered by scams and Ponzi schemes
Investment scams can happen to anyone. They’re often very sophisticated. The people involved sound credible and the websites look very professional, usually including testimonials from other investors. It can be hard to tell a scam apart from a genuine investment opportunity.
What to look out for
The Financial Markets Authority (FMA) advises that an 'investment' is likely to be...
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How to become more wealthy
For many, it can seem like becoming wealthy is an impossible task. This feeling can be made worse by present-day realities such as expensive housing and low interest rates for any money we save in the bank. Thankfully, according to research which canvassed a wide range of millionaires, becoming wealthier requires only two qualities that anyone can develop: perseverance and resilience. That...
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How to choose the right financial adviser
Recently released research by the Financial Services Council suggests that a NZ financial adviser is worth the impressive sum of $1.5m over 25 years to every person they assist. If you haven’t already received the backing of an adviser, what better time than now?
The Financial Markets Authority has developed some initial questions it suggests you ask when selecting a suitable...
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How to diversify
The events of 2020 have been a great reminder that there is no hiding from the challenge’s life will throw at you. This is as true as it is for your finances, career, and investments as it is for any other area.
Against the backdrop of a changing world, diversification is a way to make your finances as indestructible as possible.
What does diversification mean?
With...
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How to improve
The fate of British Cycling changed one day in 2003 when they hired Dave Brailsford as their new performance director.
At the time, professional cyclists in Great Britain had endured nearly a hundred years of mediocrity. Since 1908, British riders had won just a single gold medal at the Olympics, and they had fared even worse in cycling’s biggest race, the Tour de...
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How to increase your wealth
Knowing how to increase your wealth is a challenge in the present environment. The world is still returning to a ‘normal’ state after the global financial crisis of 2008. For example, while New Zealand is still experiencing historically low interest rates, much of the world has negative interest rates. Another example is housing affordability, which is an issue worldwide, not least of all...
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