30:30 Hindsight!
Today is my 30th Anniversary as a Financial Planner, and this is my 721st Money Matters column for the Trans.
Following is a reprint of the very 1st Money Matters, word for word.
Money Matters no 1
There is nothing so complicated about money that a person of average intelligence should not be able to comprehend. Through this column, I will attempt to explain, in simple terms, some of the realities of money and to dispel some of the myths that surround it.
Money means different things to different people. Unfortunately, high personal tax rates, complicated tax and social security laws, bad experiences with previous investments and advisers, and a fear of inflation combine to confuse and frighten people about their own personal financial planning.
Fear not! If you spend some time to work out exactly what your dreams and goals are, and you know what you want your money to do for you, then with a little help from a competent financial adviser, your dreams and goals can become a reality.
In the next few issues, we will discuss such things as choosing a financial adviser, how taxation, inflation and social security laws affect you, retirement planning, negative gearing, buying real estate, life insurance, unit trusts, shares and a host of other topics that affect our financial well-being. We will not be discussing high finance and complex economics, just simple strategies and ideas about money as it affects everyone in their daily lives.
The Treasurer tells us we are in recession. Now, more than ever, investors must realise their greatest enemy is lack of knowledge and experience. This column is intended to provide both. With the right tools and skills, there is a lot of wealth created in hard economic times! Two of the strongest rises ever in the U.S. sharemarket took place in 1933 and 1935, during the Great Depression, creating huge fortunes for a few ordinary people that had little knowledge and luck and a lot of fortitude.
BY MAURICE NISTICO