If, like me, you've worked hard and, even after all the drinking, managed to put some money away for your old age, you don't want it gobbled up by those "experts" who charge you a king's ransom (and still lose you money!) for the "management" of your hard-earned cash. I started my own Self-Managed Superannuation Fund several years ago which costs me no more than the annual fee to have the books drawn up and audited once a year. And even that needn't cost you an arm and a leg if you stick with the people who specialise in this service and do it expertly and fast at a fraction of the cost of some of the other accountants around. I have my work done by SuperHelp who have been SuperHelpful and offer a great service at a very low fee. They're located in Sydney but you don't have to live there as all the work is done through the mail. (No, there's nothing in it for me; it's just that we live in such a sh*@@# dog-eat-dog world (remember how it used to be the other way around? :-) that when you come across a really helpful bunch of people, they deserve to be recommended - and you deserve to know about them.) Another plug must go to Trish Power and her free consumer website www.superguide.com.au. Trish has written several books on superannuation.
Retirement? I've often been asked, "what do you old folks do now that you're retired?" Well...I'm fortunate to have a few friends who have chemical engineering backgrounds, and one of the things we enjoy most is turning beer, wine, bourbon, and martinis into urine. And, we're pretty damn good at it too!
Of course, all things financial have been rather gloomy in recent months. Maybe in years to come psychologists will look back on this moment when the concept of being happy became separated from money and the stock market. When asked whether or not they were happy, people may simply say “yes” or “no” without first consulting stock prices. Fear, like euphoria, is a transient emotion. The difference between fear and euphoria is that people in the midst of a euphoric event know that it’s likely their joy will eventually become tempered. But, people who are filled with fear think it’s a permanent state – a world without end – a place utterly desolate. Not so! Things will get better even though there is little to be gained from trying to predict the future. You might as well read horoscopes, tealeaves, tarot cards, or crystal balls. Collectively, these methods are known as ‘nutty methods.’ Or you can put well-researched facts into sophisticated computer models, more commonly referred to as ‘a complete waste of time.' Don't believe everything you read and hear! It was none other than the chairman of IBM who declared in 1943, “I think there is a world market for maybe five computers.” Yeah, right, and I own two of them! (not counting the two broken-down ones in the attic) So stop living in fear. Trust your common sense! The world will not end! Life as we know it will continue! With some small adjustments! Here at "Riverbend" we have already taken appropriate measures to cope with the new situation as you can see from the above picture.
