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Welcome to Bruce Brammall Financial

How much money should young adults receive from their parents as a financial kick-start?

Depends. Who’s reading this? If it’s Boomers and Retirees, then the answer is “lots. You’re too old to enjoy it. Give it to the kids now, you old geezers!” If it’s Generations X and Y, then … sod it, we know we really should make our own way. Our parents did a great job of […]

DIY countdown to June 30

PORTFOLIO POINT: The countdown to 30 June has started. Here’s your SMSF preparation checklist to make the most of this year. While superannuation isn’t a race, there are aspects of it that take on great urgency at times. And, for those who run their own SMSF, that’s especially true. Leaving everything to the last minute […]

Debt from a previous relationship, or a current partner, can cripple your finances. How do you fix it?

Simple: Love ’em and leave ’em. Or is that too cruel? When it comes to finances, one person inevitably has a better understanding of money and tends to take some sort of control. If that happens, the other has to have an open mind and accept that “control” is often for their own good. If […]

Henry Murray bonds

Everyone with an opinion loves to be able to say “I told you so”. Hey, it’s fun. Who would ever tire of getting predictions right? If you had the power to predict, would you use it for evil? Much as I’d want to think I’d only use it for good, I’m pretty sure, at least […]

In-specie transfers: Get in quick

PORTFOLIO POINT: In-specie share transfers will become less appealing and more expensive for SMSFs post June 30. So you might want to act now. Every time rules change, opportunities present themselves. And superannuation rules change constantly. The “opportunities” can flash by. In February (8/2/12), I warned that gearing for SMSFs in property could end later […]

Most of us like flashy cars – is it always a waste of money to buy a brand new one?

Oooh, I haaaate flashy cars! Cars – beautiful shiny cars … are, the greatest way Gen Xers can waste money on this planet. New cars are gigantic wealth suckers. The flashier, the suckier. Financial vacuum cleaners, souped up by Tim “The Tool Man” Taylor. They clean out wallets, bank balances and credit ratings like little […]

Financial Advisers don’t make the grade

PORTFOLIO POINT: Want financial advice on retirement, pensions or Centrelink entitlements? Read this before you make your first phone call. You wouldn’t have believed some of the squealing that followed the release of the latest adviser shadow shopping report. Responses from advisers included gems such as “staggered with the arrogance of ASIC” and “why not […]

FoFA ASIC shadow shop independence

It’s been a big and bruising 10 days in the financial services sector. First, a legislative bomb landed. Then a hand-grenade report was tossed in to finish off the wounded. So, today I’m reporting from the financial advice frontline in the “war of independence”. It’s chaos out there. Looks more like the aliens from “Independence […]

Should we share our money successes and failures with friends and family?

Share the actual monetary reward or loss? Oh, no, no, no, NO! That would be … communism! No commies in these pages, thanks very much. But talking about what created success and failure? Absolutely. In my opinion, your salary/income should be private. Outside of that, friends and family should talk more about investment successes and […]

Take two for a DIY ruling

PORTFOLIO POINT: Here’s another major benefit of SMSFs – managing contributions over two years. The power of super as a retirement vehicle has plenty of boundaries. There are plenty of brakes stopping you getting money in, for a start. But there are a few boundaries that are allowed to be pushed a little further to […]