This book is full of stories from everyday Aussies — single people, young families, empty nesters, retirees — who have applied the simple steps in this book and achieved amazing, life-changing results. Still, that’s how most of our biggest super funds roll: they throw everyone – young and old – into a one-size-fits-all investment pot. However, what most Australians are really worried about – and what the media have jumped on – is whether this move by the Government is the ‘thin edge of the wedge’. Well, the Government just released a (long, confusing, boring) report card on your super fund card - it’s called the APRA External Report ( www.apra.gov.au), and the worst super funds are hoping that you never read the report.

He doesn't half like to waffle on about himself and make crap jokes. I really don't care that he shops at Harvey Norman, what kind of pillow he has or that he didn't care for his wife's first oven. Is is a finance book or a biography?Pape has also hosted and produced the shows Money School and Money Movement for Foxtel. [6] Newspaper column [ edit ] It’s another nail in the coffin for hopeless funds that should have been shut down long ago … and that’s good news in my book. It’s not perfect, and only covers MySuper products at this stage (more funds will be added over time). And the data on the dud funds won’t be out until later in the year … but it’s a great first step. Neil, a suburban accountant, wrote to me saying: “You’re nothing but a government stooge for promoting their tools. You should be ashamed of yourself. You disgust me.”

Some of the funds that were singled out for charging high admin fees include Verve Super (who market to women), Spaceship Super (who target millennials), Student Super (who need a detention), and the ironically named Cruelty Free Super (well, except for their barbaric admin fees). Most of the stuff we buy ends up in the garage/garbage in a landfill and is a waste so stop buying so much stuff Clearly I’d hit a nerve. After all, the number one question every pre-retiree wants to know is this: Regardless, there’s a very good chance your super fund has dumped any Russian assets it was holding. Since the start of the crisis, most funds have written off hundreds of millions of dollars of Russian investments. Yet the only way to be really sure is to call your fund and ask them.

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The option to invest your money into a high-growth index fund.And no life insurance until you have dependents (cats don’t qualify).

However, the media has not ignored it – it has instead entrenched it. And in doing so it’s created a much bigger problem that affects millions of retirees, both wealthy and poor: they spend the little time they have left worrying about money, and hoarding it, instead of enjoying it.It is an inspiring book, well-written with a wonderful sense of purpose, and most importantly imparts practical and easy-to-implement advice, which is what we are after in the first place. It works like this: our 17-year-old apprentice would start out aggressively invested in shares to build her nest egg, and then throughout her working life the fund would gradually – and automatically – become more conservative to protect her nest egg by beefing up her defensive assets like cash and fixed interest as she nears retirement. As with any holy text, the book is based on a few core tenets. Readers are instructed to embark on monthly date nights, replete with garlic bread and wine, to discuss their finances and put the Barefoot theology into practice. This is a really great read. It’s a finance book but just so... altruistic. It’s sure to make a lot of financial planners and bankers mad, with clear explanations of all the ways we’re getting ripped off. It’s also really easy to read and the author clearly has a good understanding of what average Australians are like, based on the thousands of people he’s talked to about their finances. I also like that it applies to almost anyone who has a job, from teenagers to those about to retire.