The Latest News and Views from Ascent Wealth ManagementWelcome back to the real world after the Christmas break. I hope the transition has been an easy one and you are now back in the swing of everyday life. Our family had a great break in Caloundra just after New Years for a couple of weeks. Personally, my first few weeks back have been a struggle, but I have next Christmas to look forward to! Our markets have been eventful as always. We've seen elections in Greece with new leadership. Just as the world was working out what that means for the EU recovery, significant oversupply has forced oil prices down significantly. This has caused an upturn in daily market volatility. While we have seen this before (and will again) it is always a worry when it pops up. This month, we lead with an article that reinforces the need for long term thinking. The analogy that the daily price movements on markets is akin to the weather, whilst long term wealth accumulation, being more of a long term trend, is more like the climate. As Jim highlights, we have seen the full gamut of emotion in the headlines in the financial press; but really none of this changes the long term outlook or trendline. New years is typically a time for making resolutions to improve your life and circumstances. Frequently thinking at this time involves getting better control of debt, rather than it controlling you. There are means by which debt can benefit your long term prospects and financial achievement. My next article looks at some of the initiatives that can help. We work with a number of people, helping them to understand how they can make debt work to their advantage- it may be time to start a conversation. Progression toward reducing or finishing work involves debt reduction. Another characteristic is the consideration of small business owners about selling and realising the value they have created. Carrying forward the theme of long term planning, we next look at the tips and traps for small business owners in planning their transitions. With some benefits potentially available to minimise tax on sale proceeds, advice is very valuable before making any decisions. We've had some success over the last 12 months in helping small business owners with effective strategy to maximise their move to retirement and assure the continuation of required income into leisure time. Lastly we move into retirement. A fairly universal requirement is to maximise the longevity of retirement income, ensuring that you don't outlive your money. There are a variety of strategies to assist, and our next article showcases some of the work that we do to help people, not just at the point of retirement, but to maintain income and even build wealth in retirement. Retirement is the time to enjoy the fruits of your labours; to travel, spend time with the family and just be fulfilled. Sometimes the best- laid plans can come under pressure through sickness befalling a loved one. Dementia is a general term for a decline in mental ability severe enough to interfere with daily life. Memory loss is an example, with Alzheimer's being the most common diagnosis. The impact on retirement can be significant; my last article seeks to provide some information about managing the condition. More than ever before there is better support and treatment options which may help. There are also implications for "getting your house in order" as your wills, powers of attorney and other estate planning can only be done while the maker is of sound mind. So there are some things to think about and discuss with each other, and ourselves if we can help. Thanks for reading again. As always, if there is anything here you feel might benefit friends or family, please pass on; I'd be happy to help if I can. See you next month Steve |
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