The Barefoot Investor: The Only Money Guide You'll Ever Need

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Scott Pape OAM (born 1978) [ citation needed] is an author, television presenter and radio commentator focused on personal finance. He is best known through the persona, The Barefoot Investor. 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.” You need to outrun inflation, and historically the best way to do that is by investing in the share market. If you have read Pape's previous books you may be disappointed as this book is a lot of the same, however the influence of Pape's own experiences in life have clearly shaped the changes in this edition as we can see his perspective is now far more family focused with new chapters on leaving a legacy for your children and notes on insurance that will protect your family if something happens to your income.

Ideally, you’ll host your money with a bank that offers you accounts with a zero card and ATM fee, good interest savings accounts, and online-only accounts. These vary from country to country. In The Barefoot Investor book it recommends using ING if you’re in Australia.With house prices at a record high the year the book came out, should young people even try and enter the housing market? “I meet a lot of people in their 60s, 70s and 80s and if you don’t own a home then, life is really tough,” he says. “So: yes. Just get a mortgage that you can manage.”

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? My dad and I are classic doomers. Dad would often speak around the dining table about the looming subprime mortgage crisis — among other things, like public debt, and the devil in credit cards — when I was a teen. Now I am a Millennial who turned 30 this year. Overall, it's an easy to read and fairly sound financial strategy, if a little unnecessarily convoluted in places. He is a pig though so you'll need to get past that. He's big on people freelancing and giving up massive amounts of their time to try and pull in some extra money and very dismissive of the criticisms that not everybody can or should freelance. I work in healthcare, I can't exactly start running a clinic out of my garage now can I? and why would I want to? Money is awesome and all but honestly, living within your means and having free time to spend with friends and family is more awesome. If you only ever read one personal finance book, make sure it is this one. Scott Pape once again blows every expectation out of the water with his latest book, a definitive introduction to personal finance.Well, you won't be overwhelmed with a bunch of 'tips' … or a strict budget (that you won't follow). This is the best non-fiction book I've read in a long time - and I actually didn't intend to read it. I only started reading out of boredom eating my breakfast where my sister had left it from the day before. OnePath was joined in veggie maths by BT Funds Management, Colonial First State, Auscol (Mine Super), Perpetual Super, MLC Super – whose report cards revealed “significantly poor performance”. One thing I disagreed with him on was he believes that paying off the smallest debt is always the best way. This might work on people with mounds of debt that feel hopeless and need a confidence boost on paying off one of the debts and cutting up the credit card. BUT... rationally and logically it's always best to pay off the debt with the highest interest rate first... Today he’s Australia most trusted finance expert, frequently speaks on national TV, has advised the government and world-class sports teams, and, once again, lives on a farm with his wife and kids.

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. Last month they received regulatory approval to launch a super fund. They're still fine tuning things, but later in the year they expect to launch a target date index super fund that will automatically adjust your portfolio all the way through to your 85th birthday. This book is amazing. It's clear, practical, effective and an easy read. After reading Unshakeable and MONEY Master the Game: 7 Simple Steps to Financial Freedom, this was a bit more easy to implement as it is specifically targeted towards Australia, where the above two books are targeted towards the American economy. Additionally, Scott provides advice that is easy to action. Second, the people who calculate the ASFA figure are … the super fund lobby. It’s a bit like asking old Dr Kellogg, “What’s the most important meal of the day?” (Breakfast, of course!)Look, I'm sure you could do a lot worse than follow Scott's advice, especially if you don't have any clear financial goals and want to feel more in control of your money. A good chunk of what he suggests is common sense, and I have started implementing some of his suggestions. But as someone not even remotely close to buying my own home yet, I won't even get past Step 3 of his 9-step plan for several years yet. So more than half the book is only theoretically useful at this stage of my life.

And that one bit of information is incredibly valuable: it can stop you from having hundreds of thousands of dollars of your retirement savings smoked by high fees and poor performance. The Barefoot Blueprint – Take the Next Step". Archived from the original on 10 August 2013 . Retrieved 7 October 2013. I say ‘almost’ because most of the current funds have their target date set at age 65, when you retire. (If I was a cynic I’d say it’s set at that age so you go see a financial planner.)

The Sydney Morning Herald

Instead, Vanguard’s offering is a life cycle fund that invests your super based on your age. In simple terms, they automatically reduce the amount of riskier assets, like shares, in your portfolio as you get older and closer to retirement. In all, they make 36 of these adjustments up to your 83rd birthday (with no switching fees), which is far and away the most comprehensive of any Australian super offering.