The Latest News and Views from Ascent Wealth Management
Welcome to the 60th Edition of our News and Views!
Excitement is building as the rubber hits the road in the Federal Election Campaign. More than in the past several campaigns, there is a clear choice being put by both major parties. What will remain regardless of which party wins government is an economy that while improving, is still quite sluggish. Our April Market update opens this newsletter setting out some of the uncertainties, not just here but across the world.
With the recent round of US company profits showing continued improvement, global growth (both inflationary and wages) is not really following. There are many commentators that are viewing the recent gains as more about hope than strong fundamentals. Bob Cuneen examines the situation where nearly 100% of surveyed economists are actually forecasting a rate cut in the US prior to the end of the calendar year as a response to the sluggish growth.
Over the past few years, we have become increasingly involved in helping families plan for the needs of ageing. While the coalition plan to fund another 10,000 home care packages and an additional 13,500 aged care beds in residential care facilities, this will only scratch the surface of the growing demand being brought to bear by the Baby Boomers. Planning therefore needs to start early as my next article highlights.
As our economy changes, the chances of facing a redundancy at some point during our working life has increased. As hard as it might seem, there is life after being retrenched; for many it is the opportunity to be debt free, for others it is time to breathe and consider what you really want to be doing. Budgets quite often require reviewing and these changes can be both positive and the different priorities, life-changing. The first step in the journey following retrenchment is acceptance; both of the decision and also the opportunities it creates for you. This is a matter with which I am very familiar, having been the recipient of the "gift" of redundancy earlier in my career. If you are facing a similar challenge, I know where you're coming from!
One of frustrations of modern life is the need to always be on your guard against those who attempt to rip you off. Whether it be internet security and online payments, or the more traditional investment schemes that appear too good to be true. My next article looks at one of the oldest tricks in the book, the Ponzi scheme. This is where an investor is duped into investing into something that is either not real or turns out to be not quite as it was presented. While protections are improving, there is always a need to remember that if it sounds too good to be true, it probably is !
Lastly, the MS Bike ride is approaching with just over a month to go. I'd like that thank people that have already made a donation; your thoughts will make a huge difference to people living with this illness. There is still time to make a donation if you feel like it. My fund raising page is as follows. Please click the link to have a look and donate if you wish;
Thanks for your ongoing support!
Steve and Katrina