You’re pulling my leg, right? You’re asking me, Debt Man, a Generation Xer, whether debt is evil? Debt, like greed and Miley Cyrus, get bad reputations in times of crisis. Thanks to Gordon Gekko and Wall Street, greed got it in the 1980s stockmarket crash. Debt copped it more recently with the Global Financial Crisis. […]
SUMMARY: Anti-detriment payment after death from your SMSF are a way of recouping tax paid for your beneficiaries. Taxation can be a funny thing. Some tax rules seem particularly unfair. Others … you are sometimes left to wonder how legislators dreamt up something so sensible and generous. The latter is the case with what’s known […]
Fair time to be alive, ain’t it? Australia’s in reasonable shape. Technology is making life faster, longer and more fun. You want something, you go get it. Queen told us we can want it all and demand it now. We Generation Xers live that motto. If we don’t have the cash, credit’s a cinch. We […]
EXPENSE: Purchasing an investment property. Paid for: With a truckload of debt. That might not be repaid. Ever. It had been a while since Mrs DebtMan and I had made a significant investment. Some parcels of shares here and there. But in recent years, our focus has been elsewhere, not on investment strategies. After the […]
SUMMARY: When the Reserve Bank airs its concerns on the stability of our superannuation system, take note. What is the risk of Australian superannuation funds imploding? How much damage would it do? What can be done to minimise the risks? Systemic risk is a constant background fear for anyone with a superannuation fund. Some verbalise […]
SUMMARY: The ATO is targetting your offshore earnings, no matter how small. You have until December to take part in an amnesty … or roll the dice on bigger penalties. The word “amnesty” suggests a few things when its offered by a government authority. Firstly, it states they know that an activity is happening. Second, […]
Apparently, life begins at 40. But the party doesn’t last long. Soon after, you sink into a well of depression and want to top yourself. So says a survey of two million people from 80 countries. Our 40s is the peak of our unhappiness. Age 44, on average, is us at our grumpiest. We hit […]
SUMMARY: A speed gun would clock it at marginally faster than glacial, but SMSF money is moving out of cash. To where is the surprise. There are two assets that Australian SMSF trustees love more than any other – cash and Australian equities. Often, SMSFs will hold 100% of their funds in these two assets […]
WHOA! Bring out the big scales for Generation X on this one. This is a tough balancing act, because Xers financial commitments are monstrous – huge home loans, income-ravenous tin lids to raise, and pathetic superannuation balances. But my answer is both. Emphatically. Like Meg Ryan’s “yeessss!” in the deli in When Harry Met Sally. […]
DEATH! Hey, can we lighten this up a bit? To Salt ’N’ Pepa’s classic: “Let’s talk about death, baby. Let’s talk about you and me …” About once a month, DebtBoy makes me squirm. “Dad, I hope you don’t die.” He means it as an “I love you” comment, but I wince every time. I’m […]
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