The Barefoot Investor: The Only Money Guide You'll Ever Need

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Most of the stuff we buy ends up in the garage/garbage in a landfill and is a waste so stop buying so much stuff

Depressingly, Treasury figures show that almost half a million people under the age of 30 have accessed their super. Now I understand the motivation to own a home, but I don’t really like raiding your super to do it. In this case, if you’ve satisfied the requirement for early release, it also means you need to work on boosting your income so you can get a loan.First, Vanguard has said they’ll look to lower their fees over time as they grow. I’m inclined to believe them, because that’s what they have a history of doing. My husband and I have been with Christian Super Fund for the past 20 years. Today they sent us a letter saying that they’ve been underperforming and that we should change funds. My husband is 61 and I’m 59. We don’t have much super. Should we be worried about this? He also has this weird hang-up with - what he calls - 'handouts.' As someone who lost their house to a natural disaster, you'd think he would be more sensitive to people who need extra help. Such an odd hill to die on. Just say you're rich and move on.

The financial advice is basically common sense. There is nothing in it that is particularly groundbreaking or revolutionary. It's essentially reduce debt, save your money and invest in your future.Yet, while I’ve got the tin-foil hat on, let me tell you that for well over a decade the super industry fought tooth and nail against laws that required them to disclose to investors where they were investing their money. Second, the people who calculate the ASFA figure are … the super fund lobby. It’s a bit like asking old Dr Kellogg, “What’s the most important meal of the day?” (Breakfast, of course!)

So now is a very good time to talk about what’s going on with your super fund. And a word of warning: it’s not good news if you’re in one of the large, top-performing funds … The Barefoot Blueprint – Take the Next Step". Archived from the original on 10 August 2013 . Retrieved 7 October 2013.

Perhaps it’s safe to assume that financial structures will be similar for the next decade or two, so the advice about investing in super etc is good for anyone retiring in that time, but I’m 32, and frankly am not confident that we won’t see the collapse of global financial systems between now and my retirement, which makes planning more difficult. In 40 years, superannuation could collapse and governments may not have the money to bail everyone out - it’s riskier for us youngens. Scott Pape is pretty funny and entertaining :P Richard Branson was right that he makes finance fun lol BUT... this whole book is based on Australian rules, government rules, finance rules, culture, housing marking, etc which is completely useless to me and the majority of the world lol =/ Pape is out of touch. He has a 'pull yourself up by your bootstraps' mentally that is unrealistic. For example, he recommends a side-hustle (feeding into the toxic work culture that already exists around buying a house). He specifically calls out my profession - teaching. I should start tutoring. Okay, with a) what time? and b) what students? I am already putting an insane amount of hours into my job. Taking on extra responsibilities would mean sacrificing my teaching standards. I also live in a rural area. The kids here can't afford tutoring. This is just one example. Also, he continually brings up how he had a fire and lost his house and had to start from scratch. But at one point he says he had insurance for all that and was handed a very large payout. So honestly he never had to use his "fire extinguisher" and start again with nothing. That's rubbish. This article may rely excessively on sources too closely associated with the subject, potentially preventing the article from being verifiable and neutral. Please help improve it by replacing them with more appropriate citations to reliable, independent, third-party sources. ( October 2018) ( Learn how and when to remove this template message)

Splurge. Set up an automatic transaction so that 10% of your salary goes here, this money is for short term use (think a night out with your partner, a round of drinks for your friends or a small luxury item/service). Yet for the generations of Australians such as myself who were offered credit cards as soon as we left school, who start to snooze as soon as someone mentions superannuation, and who have never really been debt-free, a lot of what Pape espouses seems revolutionary. I meet a lot of old people who end up at the end of their life owning their home, but have nothing else to live on. I also meet a lot of older, divorced women who don’t have a home or enough super.It sounds like you have an awesome dad. So learn from his wisdom, plan for the worst, and hope for the best. Pape has also hosted and produced the shows Money School and Money Movement for Foxtel. [6] Newspaper column [ edit ] Reason being, Australia has a rapidly aging population. Looking after old people is expensive. As are programs like the NDIS. Someone needs to pay for it, and the heavy lifting will come from the wealthiest people in our country. Scott is a straight shooter and will give it to you bluntly, but his writing is also full of compassion and understanding. Chapters and paragraphs are dedicated to the positive effect controlling your finances gives to your life, and how these bad habits are not attached to us forever.