We keep hearing that the rich are getting richer, don’t we? And it seems that the gap is only getting wider. Forbes reports that it’s been an outstanding year for the planet’s billionaires, whose fortunes continue to swell as global stock markets shrug off war, political unrest and lingering inflation. There are now more billionaires…
Australia is among the strongest global performers in terms of income mobility between the generations, according to a new Productivity Commission report. The country’s long-term economic growth has led to each generation earning more than the last, on average. Our report finds 67% of the so-called “Xennial” generation – those born in 1976–1982, on the…
Starting a family is one of the most significant financial commitments you’ll ever make, especially in today’s climate where the cost of living continues to rise, causing many Australians to tighten their budgets. According to a July 2024 survey by Canstar Blue, which gathered insights from 2,356 Australian parents, the average monthly cost of raising…
I am about to shatter your very understanding of happiness. For some this may be discomforting; for others this may be a revelation. On any given day, if you ask someone if they are happy, their response will be dictated by their current state of happiness. If they are nearing, or in the midst of…
Interestingly, studies have confirmed people have two beliefs about how intelligence works. Some believe it is “fixed” and others believe it is more “malleable” and can alter over time, depending on your life experiences. A “growth mindset” is the key. Students who believe that intelligence is fixed, are less resilient. If you truly don’t believe…
We teach our kids how to behave in public, how to have manners and the importance of working hard at school. But why don’t more of us teach our kids how to invest? We spend our lives investing. We invest in our homes, in our businesses and in our relationships with others. Almost everything we…
All parents want to provide for their children and hopefully create wealth to leave to them and their children, too. These days, with higher property prices, many people also want to help their children financially so they can buy their first home or property investment. However, sometimes these desires outweigh practicalities, such as tax planning…
Why do we do the things that we do? What are the drivers behind our very existence? In 1943 American psychologist, Abraham Maslow threw a pebble in a pond by releasing his research paper titled A Theory of Human Motivation in Psychological Review. Commonly referred to as Maslow’s Hierarchy of Needs, his research paper theorized that there were five levels…
Money. I write about it a lot, don’t I? Yet there are many things in life that are far more important than how much money you have or the size of your investment portfolio. Sure money is important in those areas of life where money is important, but it’s not at all important in those…
The rich get richer. You’ve no doubt heard that soundbite many times. Is it true? The short answer is no. Still, those raised in wealthy households have a huge advantage over those raised in poverty. Advantages Better Education – Those raised in wealthy households generally live in wealthier neighbourhoods. These neighbourhoods typically have better school…
