John Cameron's personal blog

Serious discussion about your financial position now - and in the future.

Amended Super Amendments Pass

Miracle of Miracles, Wonder of Wonders -  the much debated, and heavily criticised (by some) changes to the superannuation system have passed Parliament and are set to become law. The original changes (amendments) were announced in the May budget. As a result of heavy criticism, the original amendments have been amended sufficiently to pass through the Parliament.

Passage through Parliament at this time indicates a degree of cooperation between the various political parties. It was starting to look like they may not pass until the March sitting of Parliament, and this would have put their implementation date under pressure, as the changes are due to start on 1st July, 2017.

Now the work begins of looking closely at the details. On first glance, it looks like the effects of the changes will vary greatly between different individuals. Some people will see no change at all. For others, the changes will be substantial. More to come.

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Black Swan Event Financial Planning - Proud to be a sponsor of the Mosman Park Bowling Club

 

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Was Trump’s Win A Black Swan Event?

“Black Swans and Stunned Mullets - Two Species Often Found Together”

Black Swan Events occur when something that was totally unforeseen, or at least very unlikely, happens.

On that basis, if you had listened to the experts, the win by Trump, certainly qualifies. The airwaves were full of forecasts of a Clinton win. The smug certainty of all the pollsters and forecasters before the election is now matched only by their “stunned mullet” demeanour since the election. Talk about egg on face, or any of dozens of other metaphors, but the message is clear – the experts often get it wrong – way wrong.

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What Is It With Banks And Their Culture?

ASIC has recently penalised banks (again) for failures in their financial planning divisions.

This time it was for charging customers “advice fees”, which entitled the customers to annual reviews. However, no reviews were carried out.

Whatever happened to good old fashioned service? you might ask.

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5 Things To Think About When Choosing Between Active And Passive Investment.

One of the most hotly debated areas in investment is whether you should invest in actively managed funds, or index funds. As is often the case, these debates often generate much more heat than light.

The difference is that actively managed funds seek to select assets (let’s focus on shares, but the same principle applies to other asset classes such as bonds), whereas index funds simply look to track a given index and buy shares to mirror the index, without worrying about the merits of any particular company.

Let’s look at the logic.

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