A managed fund, also known as a unit trust, is simply where you pool your money with other investors into a single fund. The fund has a fund manager who will invest on your behalf. The fund manager is then able to spread their accumulated buying power across a number of different investments.
A fund manager [...]
We have looked at the past, present and future fees associated with private school fees and started to think about at what stage you will send your child to private school—preschool, kindergarten, primary or secondary. In this chapter we will look at the average cost of private school fees as well as additional costs or [...]
Financial planning today is a profession. It has certainly matured and, as an industry, has come a long way over the past 10 years.
The primary aim of a financial planner is to understand the financial objectives you want to achieve. In some instances the adviser may become a close associate of the family or [...]
Names Gerard and Julie Fairlight
Age of children Johanna 4, Brett 5
Total family income $115,000
Employment info Gerard works full time. Julie has recently retired from the workforce—she may return to work at a later stage.
Education stage They want their children to be educated in private schools and hope their children continuing with university.
Current strategy The Fairlight’s have established a discretionary [...]
You now know the four asset classes, you are aware of what asset class you should be investing in. Now let’s investigate four different strategies you can consider when saving for your child’s private school fees. Your situation will determine which strategy may work best for you.
Those strategies are:
• A simple savings plan
• Step on the gas—a [...]
In Chapter 1 we looked at the stages of schooling. All stages have both public and private school options so you may decide to choose a mixture of both public and private education for their child.
When you decide to send your child to a private school, the next question is in what year of their [...]
The following personal insurance cover may be exactly what your non-working spouse may need if they were unable to perform their duties. (arguably the hardest).
Critical illness
Also known as trauma insurance. If a traumatic situation or an injury occur, then a lump sum is paid upon diagnosis. There are a number of prescribed conditions that [...]
As an example, you may have $20,000 from work bonuses or savings. You can combine this amount with additional amount of $20,000 borrowed from a lender. Your total amount to invest will then be $40,000. With this investment amount you may decide to buy shares in eight companies for your first portfolio with a value [...]
The share market appears to be volatile and is always moving up and down based on investor sentiment, the general mood of society and the economic outlook—domestically and internationally. It is this daily movement that concerns and unnerves many people.
This movement and perhaps a major share market correction will happen to you in your [...]
We have looked at the past, present and future fees associated with private school fees and started to think about at what stage you will send your child to private school—preschool, kindergarten, primary or secondary. In this chapter we will look at the average cost of private school fees as well as additional costs or [...]