Warren Buffett is arguably one of the best investors of all time and has an excellent track record of creating and maintaining his wealth dating back to his early entrepreneurial days starting at just five years old. You’d think that the hugely successful magnate and philanthropist would be too strapped for time to mentor as…
I have a crazy idea I want to run by you. Imagine that a cultural anthropologist finds one of your credit card statements in 100 years. What would your spending suggest you value the most? Based on your spending, what assumptions might someone make about how you live your life? Our credit card statements (really,…
Make sure to ‘die with zero’ for optimal happiness – that’s the idea behind Bill Perkins book – Die with Zero. In short, Perkins wants to rescue you from over-saving and under-living. So let’s dive into a challenging yet enlightening perspective on retirement, personal finance, and life priorities, inspired by Simon Kuestenmacher’s article in The…
Young Australians who would have once been locked out of homeownership are increasingly relying on the so-called Bank of Mum and Dad to get a deposit or to guarantee a bank loan. The Bank of Mum and Dad has become so large as a home loan enabler that the Productivity Commission says if it was…
We all have a friend or know someone who is a bit unique. They’re the kind of person that other people describe as slightly eccentric and who don’t seem to care what others think. But it’s not that they’re different from other people. It’s that they just refuse to do what most of us do,…
Earlier this month, a Hong Kong company lost HK$200 million (A$40 million) in a deepfake scam. An employee transferred funds following a video conference call with scammers who looked and sounded like senior company officials. Generative AI tools can create image, video and voice replicas of real people saying and doing things they never would…
![Wealth Needed to Join the Top 1%, by Country [Infographic]](https://cdn.propertyupdate.com.au/wp-content/uploads/2023/08/rich-people-270x200.jpg)
The last decade has witnessed a remarkable surge in the global number of millionaires. By 2022, 1.1% of the world’s adults were millionaires, up from 0.6% in 2012. So, how to know if you belong to the top 1% in your country? In this infographic, we illustrate the net wealth required to enter the club in selected…
Women are set to be the primary beneficiaries of Australia’s intergenerational wealth transfer, claiming about 65% of nearly $5 trillion by 2034, a groundbreaking report by JBWere published in the AFR reveals. This shift is fueled by factors such as longevity—women generally outlive men—and evolving divorce outcomes. Additionally, the ‘older daughter effect’ plays a significant role,…
According to researchers from the University of Illinois, the more sleep a person gets, the more optimistic they are about life. Why is optimism, and thus sleep, so important? Reason #1 Optimists Are More Successful. Martin Seligman was a Psychologist at the University of Pennsylvania. In the mid-1980s, he created a Style Questionnaire that MetLife’s…
Remember that kid in your high-school geometry class who raised his hand and asked the question everyone knew the answer to? Remember how the class laughed and thought he was so dumb? It turns out that kid wasn’t dumb. That kid was humble. More humble than most of us. And being humble, when it comes to money,…
