The Barefoot Investor: The Only Money Guide You'll Ever Need
And here's the kicker: AFIC's fees are around 90 per cent less than the fees of managed funds — and yet AFIC outperforms the majority of these funds. (Kind of strange, isn't it? You pay more for these other funds and get less … that's quite often the way in the financial world.) And once you've got your toes wet with AFIC, you can start building yo
... See moreScott Pape • The Barefoot Investor: The Only Money Guide You'll Ever Need
Up-to-date will: Remember to include the name of your executor and your enduring power of attorney. A video of your parents (this one's for my wife, Liz).
Scott Pape • The Barefoot Investor: The Only Money Guide You'll Ever Need
That's fine. Then again, your brother-in-law hasn't achieved a mind-boggling 1 598 284 per cent return over his investing career now has he? The truth is this: Debt always makes things more complicated.
Scott Pape • The Barefoot Investor: The Only Money Guide You'll Ever Need
He once described debt as like ‘driving a car at 100 miles per hour down a hill with no seatbelt … with a dagger taped to the middle of the steering wheel'.
Scott Pape • The Barefoot Investor: The Only Money Guide You'll Ever Need
By the end of Barefoot Step 6 you've: made a commitment to boosting your current salary by at least $5000 in the next 12 months got a paint-by-numbers approach to saving for a deposit and avoiding lenders' mortgage insurance called your super fund and put your retirement savings on autopilot at 15 per cent, boosted your end payout by potentially hu
... See moreScott Pape • The Barefoot Investor: The Only Money Guide You'll Ever Need
They traded precious hours with their families and friends — hours they'll never get back — just so they could buy crap they'd eventually toss out.
Scott Pape • The Barefoot Investor: The Only Money Guide You'll Ever Need
In his book Affluenza, author Clive Hamilton states: Sixty-two per cent of Australians believe they cannot afford to buy everything they really need. When we consider that Australia is one of the world's richest countries and that Australians today have incomes three times higher than in 1950, it is remarkable that so many
Scott Pape • The Barefoot Investor: The Only Money Guide You'll Ever Need
As discussed, your main job tonight is to convince your partner just how important it is to have this money in Mojo — even if you never, ever use it. The payoff is that you'll never, ever have to worry about money again. You'll be free.
Scott Pape • The Barefoot Investor: The Only Money Guide You'll Ever Need
Weird? Maybe, though I would remind you that you're reading a finance book from a guy who doesn't wear shoes, so we're in this together. Besides, people can justify spending $8000 to upgrade to business class for a 14-hour flight. Why not fly business class in your undies every day?