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Friday, 21 January 2022
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Value v growth investors, managing the $1.6m cap, tips on managed accounts, Douglass macro update, sovereign defaults coming, carer inherits estate.
The idea that stocks should be divided into growth and yield categories diverts us from fundamentals. Intrinsic value eventually manifests in higher cash flow, whether or not share price appreciation anticipates it.
The $1.6 million Transfer Balance Cap (TBC) on pension accounts affects only capital balances. It’s not affected by income earned and pensions paid, and there are ways to maximise the remaining tax-free status.
Several factors contribute to the growth in managed accounts, which are like ‘implemented advice’ for investors. Despite the fallout from the Royal Commission, these factors are largely unaffected so growth should continue.
Choosing the right managed account can be achieved more effectively by checking certain key features including fee structures, investment strategies, independence, performance and risk metrics.
More advisers want control over their businesses for the benefit of themselves and their clients rather than operating under institutional guidelines, and software providers are facilitating the change.
The fundamentals point toward bankruptcies of major sovereigns like the US and Japan in the next decade. The after effects could be catastrophic on all major asset classes. It’s time to discuss the makeup and costs of insurance.
Carers may have a legitimate claim to an estate even if the deceased suffered from dementia when making a subsequent will. The Court seeks to establish whether testamentary capacity was disabled.
Most people entering retirement do not see a financial adviser, mainly due to cost. It's a major problem because there are small mistakes a retiree can make which are expensive and avoidable if a few tips were known.
Eligibility for the Commonwealth Seniors Health Card has no asset test and a relatively high income test. It's worth checking eligibility and the benefits of qualifying to save on the cost of medications.
The focus is on Magellan for its investment performance and departure of the CEO, but Douglass says the pandemic, inflation, rising rates and Middle East tensions have not played out. Vindication is always long term.
This is our annual checklist of what retirees need to be aware of in 2022. It is a long list of 25 items and not everything will apply to your situation. Run your eye over the benefits and entitlements.
The Warren Buffett/Charlie Munger partnership is the stuff of legends, but even Charlie admits it is coming to an end ("I'm nearly dead"). He is one of the few people in investing prepared to say what he thinks.
Depending on personal circumstances, it may be time to rethink the bias to paying down housing debt over wealth accumulation in super. Do the sums and ask these four questions to plan for your future.