A great quote came my way yesterday by spiritualist/writer Byron Katie.
“Nothing comes ahead of its time, and nothing ever happened that didn’t need to happen.”
It’s a reassuring thought amid the uncertainty and confusion of life and during those times when we are plagued with the whys, and whens and hows and grating impatience at things not happening in the time frame that we want or expect.
Last week I wrote about overcoming self limiting thinking and self-doubt. I think that mountain is possibly more challenging than Everest. Mental mind traps are the greatest obstacles to success. It’s not lack of money, or shortage of time, or x, y, z that holds most of us back. It’s fear standing in the way of you realising your full potential, and your dreams.
I’m still climbing that mountain and here’s the depressing news: Unless you are fully enlightened (and not many are) that journey never ends. You either give up and give into the herd mentality and behaviour or you keep climbing, deflecting those toxic thoughts as soon as they come your way. It gets easier and easier to defeat them when your awareness of them grows.
My BF has a lot of original ideas. He’s one of those idea junkies. He also has a lot of one-liners that he enjoys tossing around; some good, some bad but they still evoke a smile or at the very least a smirk.
One that I never tire of hearing even though I hear it a lot is “No ask, no get.” We haven’t known each other too long but I assume he’s asked a lot over the years, because he has always seems to get his way. Not only does he have a lot of stuff but he always seems to rope people in doing stuff for him, usually free.
What makes some people better savers than others?
It’s a question experts have pondered long and hard about particularly in the face of the looming demographic problem of too many old people living longer and longer and too little Government savings to support them all in retirement.
The solution that many OECD nations have adopted, including Canada, the U.K., Australia, Japan and the U.S., is to extend the age of eligibility for Government superannuation schemes, forcing people to work longer (and thus pay more taxes to feed pension funds) and to save more for themselves.
Okay, I’m the first to admit that fees on financial products is probably the least sexiest topic on the internet (except to advisors and fund managers maybe) but really it ought to be and I was reminded again why today in a conversation with a so called “wealth manager.”
Let me just say firstly that I don’t blame the investing public for not taking more of an active interest in this area. I mean the industry is so rife with technical jargon and mumbo jumbo that it’s hard for a financial journalist to follow the plot on fees let alone someone who is just cutting their teeth on KiwiSaver.
An insurance story with a happy ending? Amanda Morrall on how not to get ripped off by your insurance company
In the financial media, it’s good sport to slag insurers. Let’s face it, they’re easy targets.
We pay, and we pay and we pay… and then when we make a claim, they tear it to pieces with loopholes and exemptions written in microprint on the back page of page 10 and we’re left high and dry, and still paying. Okay, yes there are exceptions and there were some happy stories to come out of Christchurch, although they were more like War and Peace length epics by the time the pay outs were made.
So what am I on about this week and why?
Last week at the dinner table my financial philosophy (see about me) was challenged by my two sons, ages 10 and 11.
I’m not sure how it came up but one of them (probably the eldest who aspires to be the next Donald Trump) said it was nonsense that money doesn’t make you happy. “Of course money makes you happier mum, look at all the stuff it can buy you and places you can visit when you have lots of it! You can’t do all that fun stuff when you’re poor.”
When I turned to son No.2 for backup, he took big brother’s position, which is rare. Given both are obsessed with super cars right now, I guess I shouldn’t be surprised. If they won the lottery tomorrow, and were old enough to drive, they’d rush out to buy their favourite racing cars and live happily ever after, so profound is their love for super cars. I had to concede the point. Yes, money can buy happiness but there’s a big BUT to follow. They won’t get it until they’re adults.
This week I was approached by a friend looking for some advice on money matters. I had to emphasise the fact that I am not an authorised financial advisor (AFA). Why should they or you care whether or not I am an AFA? Because new rules introduced in the last few years specify that any professional giving you personalised advice has to be authorised to do so. What this means in plain English is they have passed certain tests and meet criteria laid out by regulators with the Financial Markets Authority. Previously, anyone could call themselves a financial advisor, regardless of their background, qualifications and experience. New Zealand was the wild west of the financial services sector. Thankfully, there are now rules and system in place meant to restore confidence to the financial advisory sector and to raise the bar in general.
Amanda on blessings in disguise; Defining success; the power of words and honey money; working for love.
Following last week’s confessional blog, I decided this week (I have good intentions for once a week blogging now) to shower you with some link love.
Other bloggers will know well the virtues of link love. Outbound links to other writer’s good work offers some karma kickbacks. By generating traffic for others looking to build their readership, you in turn create some of your own. i.e. You follow me, I’ll follow you.
I’m not a Catholic, a Buddhist rather, but I feel like I need to start this blog as though I were going to confession:
Please forgive me. It’s been five long months in between blogs.
This is what happens when you’re not on a deadline! It’s also what happens when you are trying to find a linear route through a dense and confusing forest of seemingly conflicting paths. Eventually we arrive where we are meant to be long before we make the realisation that we’re there.
Amanda Morrall is a New Zealand based personal finance expert. Her first book Money Matters was published in 2013 by Penguin Random House in NZ.