The Latest News and Views from Ascent Wealth Management
Welcome to the latest News and Views, in what as been a roller- coaster of a week in world markets. The standoff between the US and China seems to be claiming the majority of attention lately, with both sides trading barbs,where it counts most, in the media! Times certainly have changed in the world where media power takes over from the power of good old fashion diplomacy; but there's a lot in the world that is changing- not always for the better.
We expand on the macro economic picture in the Market Update from ThreeSixty research. There is no doubt that we have had a very good run so far this calendar year; for how long this can continue is anyone's guess with so much riding on the moves of Trump and Ping.
Not withstanding, having global diversification is always a good objective for a long term portfolio. There are entire industries that do not exist here and can only be invested in overseas. Further, as a percentage of the world market, Australia is miniscule; you cannot adequately diversify if you don't also invest globally; be that in shares, fixed interest or property. Our next article delves into this a little deeper.
Self- managing your super is a very legitimate strategy for some people. There's a lot involved though, and sometimes there are matters and advice needs concerning super, and particularly retirement phase, that go unmet in the Self Managed Fund space. My next article is a timely reminder to trustees of the need to consider bringing in a financial advice specialist to assist with advice on the areas where they have some difficulty "doing it themselves". A recent survey highlighted that things like picking investments, ensuring their estate planning was appropriate and just the day to day administrative requirements were areas where specialist suppport may be valuable.
Many of us have investments outside the superannuation system. With the 2017 changes where the amount that can be used to start a pension was limited, many people have been seeking out alternate options. Making the right choice depends on what you're trying to achieve. Having someone to guide your choices became even more important with the 2017 changes. Our next article looks at the concept of not holding all of your wealth in super. You'll see that there are a number of interesting alternatives emerging; again, what is right for you, will depend on what you are trying to achieve.
Lastly, post- work life is changing, and Baby Boomers are different; I'm being complimentary here! With the attitude that "there's no time to be old in this world, theres too much to get done", the Baby Boomers are attacking their lives with vitality and vigour. Being "old" is so 1970's, our retiring people are travelling, some are returning to part time work and most cannot forsee times of inactivity. You only have to visit the Hamilton wharves on departure day for a cruise. The profile of today's cruiser is one of a person who enjoys splurging on travel and is really intent on living it up, and I reckon it's great ! My last article this month celebrates this vigour, and may even give you a few ideas!
And that's it for another month. As always, thanks for your support, it means everything.
Steve and Katrina