WealthSpring Financial in Sydney, Australia | Investing service

WealthSpring Financial

Locality: Sydney, Australia

Address: Level 25, 88 Phillip Street 2000 Sydney, NSW, Australia

Website: http://wealthspringfinancial.com.au

Likes: 81

Add/Update information

Reviews

Tags

• Local service
• Investing service
• Financial planner

25.01.2022 Bushfire victims are being drowned in people's good intentions. Please send cash rather than items that are not necessarily needed. Cash donations made to registered charities also have the added benefit of being tax deductible so they give you more donation bang for your (net) buck. Here are two charities I have been directing funds towards: https://www.redcross.org.au//disaster-relief-and-recovery-... https://www.wires.org.au/donate/emergency-fund https://www.abc.net.au//unsolicited-donations-sp/11848180

22.01.2022 My observation from most financial blogs, media and financial information services over the past few years is that we've moved into an extreme focus on frugality. Don't get me wrong, controlling your spending is super duper important for sure, but there are other levers you shouldn't ignore when considering your overall financial plan. Reducing your spending is just one lever you can pull to improve your financial position. Moving towards peak financial fitness should also ...include looking at how you might increase your income (e.g. through further education, experience or simply marketing yourself better), and also working to ensure that: - your investments are appropriate (risk versus return), - the interest rates on your debts are competitive and the structure is appropriate, - your income and assets are protected (e.g. via insurance), - your taxes are legally minimised and - you have a wealth distribution plan in place for your family (i.e. via proper estate planning including a valid Will as a bare minimum). See more

21.01.2022 Are you an Age Pensioner who lives in regional NSW? This initiative from the NSW state government might be worth a look: https://www.service.nsw.gov.au/regionalseniorstravel

14.01.2022 Sooo...is this genius? Or a sign that you need to communicate more with your significant other about expectations around discretionary spending?

14.01.2022 I had a client today thank me for an email I sent him some 6 months ago. He and his friend had been contacted about some super nifty software that would tell them which stocks to buy based on technical analysis and all they would have to do is follow the trading instructions and sit back and watch the cash roll in. As it turns out, he heeded my opinion and his friend did not. My client said that my email had turned out to be "spot on". I went back and dug out the email and... thought "yes, that was a pretty good email Liz" and I figured it's worth sharing here in case it helps anyone else: "The Program uses technical analysis, which is essentially a large number of complex algorithms that are applied to thousands of stocks every day. The program then displays which of the stocks has the greatest probability of making a profit over a short-term period. It's very difficult to find any third party reviews on this software, so it’s impossible for me to say whether their claims are accurate or not but I personally avoid these types of programmes for the following reasons: 1. Their results rely on frequent trading. This takes time and gardening i.e. you can’t just walk away and leave the portfolio. There will also be transaction costs incurred. 2. Reporting on frequent direct trades for tax purposes isn’t my idea of fun (although it is a bit easier these days given broking platforms have upped their game). 3. Day traders often do amazingly for a while, but very frequently have something blow up on them in a very big way at some point. Nassim Taleb is a former trader turned philosopher who wrote a book about this phenomenon called Fooled by Randomness. 4. These strategies work better in rising markets. 5. Technical analysis is used by fund managers (with very deep pockets to develop complex algorithms) but they rarely consistently outperform the index over the long term. This software may well be legitimate, but it is not something any financial planner I know would consider as part of a long term financial plan. Behaviour will have by far the biggest impact on your position in the long term. By that I mean sticking with your portfolio during difficult markets (and not crystallising losses out of fear) and controlling your expenses. Not very sexy I know, but these are the things we can control which will have the most impact." Another thing to remember, if the software is as effective as they say it is, they certainly would not be wanting to sell their secrets and distort the market. Furthermore, they'd have no need to sell the software, because they'd be too busy sitting around counting the money from all their successful trades.

13.01.2022 Lovely setting for a client review meeting! (Manly)

13.01.2022 Truth. Here at WealthSpring Financial, we can help you with one of these three things - let us know if you've managed to fix the other two credit: Kristen@Kica333

11.01.2022 Last week I had the honour of being voted 2019's most valuable contributor to @XY Adviser - an online community of financial advisers seeking to collaborate and work together to improve the quality of advice in our industry. I was legitimately shocked because there are so many great people in that group who contribute so much. I'm so pleased to be able engage with other forward thinking advisers and I've always gotten more out of this group than what I've put in. In this corner of the industry at least, it's truly an ethos of #collaborationovercompetiton. Also recognised the technical and marketing categories respectively were Liam Shorte of Verante Financial Planning and Adele Martin of Money Mentor. Oh and if you don't believe I was shocked, check out the truly unflattering reaction shot with multiple chins in the comments

09.01.2022 Pro tip for anyone intending to contribute to Super before the end of the Financial Year - June 30 falls on a Sunday this year and contributions have to be in the fund before June 30 to count under this year's caps. Many banks and super funds do not process anything over the weekend and EFT and BPay can take up to 48 hours in a worst case scenario. Getting your contributions made by COB Wednesday the 26th should ensure success for most funds but please also check your own super fund's cut-off dates as these will also vary. The clock is ticking...

09.01.2022 I attended a seminar today where I was reminded of the sobering statistic that 50% of us won't get to choose our retirement date due to age discrimination / employment risk, or personal or family ill-health or disability. Another reason not to leave our retirement planning to the last minute since we might need to access our retirement capital sooner than we think.

08.01.2022 I'm at a productivity workshop this morning and it's amazing how one simple phrase can shift one's mindset. "There's no such thing as time management - it's all about choice management" Same goes for money.... For me this was like...

05.01.2022 I was asked today for few thoughts on retirement villages so I thought I'd share them here as well: 1) My clients who live in retirement villages are on the whole very happy there and they make use of the facilities and opportunities to socialise. 2) Financially, they are almost always an inferior choice to an owner occupied property but, it’s not all about money, and as long as the resident understands the costs going in and can afford it, they can still be a valid choice... since they seem to enhance quality of life. 3) I strongly recommend enlisting the help of a solicitor to go through the fine print. The contracts are often lengthy and complex and there are usually significant exit costs involved. These costs may include a requirement to give up a share of any capital growth and to cover the costs of restoring the unit to its "original condition" regardless of whether you've actually caused any wear and tear. When making the decision to move to one of these facilities, it's important to note that depending on market conditions and the contract offered by your preferred facility, you may not get all of your capital back when you move on. That said, if you are likely to use the facilities on offer and the opportunities to socialise, it may still be well worth it.

03.01.2022 Changes to Centrelink deeming rates have been announced today. These will be back-dated to 1 July 2019. The deeming rate on the first $51,800 of a single pensioner's financial investments - and the first $86,200 of a couple's - will drop from 1.75 percent to 1 percent. A deeming rate of 3.0 percent will apply to all financial assets above these amounts.

03.01.2022 "Fashion designer Lisa Ho also fell prey to McLaren and had $850,000 taken from her after he said he would invest her superannuation in a low-risk way and give her a high return." If you hear the words "low-risk" and "high return" in the same sentence, you are more than likely dealing with a charlatan. I'm very sorry for what has happened to this man's victims - it's awful - but there are no free lunches when it comes to investing.... https://www.smh.com.au//label-of-conman-is-deserved-frauds