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Category: Your Money Gen X

“About 40 per cent of marriages end in divorce, but is a pre-nuptial a good idea or does it indicate distrust from the start?”

Judging by the number of billboards, there’s enough trouble going around with sexual dysfunction without throwing in the great knee-closer that is pre-nups. Younger Xers haven’t had time to accumulate much wealth yet. If neither has anything, don’t worry about the divvy up. Older Xers might have had their first divorce party and are considering […]

“If you’re going to be thinking anything, you might as well think big,” says billionaire investor Donald Trump. Should Australian investors follow his advice?

Depends. Did that billionaire bigmouth make that “think big” quote before or after the 1974 Melbourne Cup? Anyhooo … yes, people aiming to create real wealth should set their sights high. Aim for mediocrity only if your name is Homer J Simpson. Ol’ Combover certainly aims big. Yes, he’s a billionaire, but he’s had a […]

Setting goals can help people achieve their dreams, financial and otherwise. What is the best way to do this and how do you start?

Incense? Meditation? Thppppt! Definite Mars and Venus thing happening here. A journey of a thousand miles (or even one half that length, like The Proclaimers’ 500 miles) starts with a single … list. No shame here – I’m a lists person. Got ’em everywhere. I make them on notepads, scraps of paper, napkins, newspaper margins, […]

“‘Tis the season for a holiday hangover. How do we get our credit cards and personal budget back on track for the new year?”

Remember Hugh Grant’s immortal line in Four Weddings and a Funeral? “Bugger! Bugger! Bugger, bugger, bugger, bugger!” If you uttered that line, or worse, after seeing your credit card bill or bank account balance in recent weeks, then there’s a little story you need to read about Humpty Dumpty falling off a wall and the […]

“Reverse mortgages are growing in popularity among retirees who need extra cash. What do families need to know about them?”

As teenagers, my brother Dirk and I had two permanent threats hanging over our heads from Mum. “Get a tattoo or a motorbike and you’re out of the will.” Years ago, my brother got inked. Bizarrely, some time after that, Mum joined Dirk and Dad on motorbikes. I did neither. I’ve argued for years that […]

“The silly season is about to start, so how do we avoid our personal finances becoming a joke this Christmas?”

This fat bloke’s been waiting all year! A little unconventional, but here are my five tips. Tip #1: Drink. Heavily. While it’s all free or cheap at work and industry Christmas parties. Immediate savings on entertainment bills from now to Christmas. If you continue going hard through to New Year, you’ll probably swear off booze […]

“Finance is a word that sparks fear and uncertainty in many minds. How do we overcome our fear of financial matters?”

Gen Xers can no more afford to ignore their personal finances than they can walk around their office naked. Strippers being the obvious exception. But getting in the trenches with your finances ranks alongside public speaking and talking about death for so many people. There is really only one way to overcome your fear of […]

“Blue chips versus speculative stocks – where do investors get the biggest share market gains?”

You’ll always make the biggest killings and blow the most dough in the same darn place – where the risks are highest. The following stats from the top of the market (November 2007) to the bottom (March 2009) and then back to recent peaks (October 2009) are telling. The ASX20 index – Australia’s 20 largest, […]

Children are information sponges, so how do we transfer positive values about money to them and help them avoid our bad habits?

Start them young. If their first full sentence isn’t “Dad, show me the money!”, then you’ve been a neglectful parent. You should probably be jailed. In Monopoly prison. “Learned behaviour” is an incredibly powerful force. It explains how children pick up their parents’ behaviour by osmosis. Shame on Andre Agassi for teaching his kids that […]

“Partnerships in property: What do you think about taking a three or four-way share in residential real estate?”

No problem at all – so long as all partners promise never to change any of their personal circumstances. Ever. Nobody is to get married, divorced, have any more children, lose their jobs, or die. They’re not allowed to develop gambling addictions, poor tickers, a life-threatening illness, or a thing for the cute nanny/gym instructor. […]