• she-said

New (Financial) Year Resolutions!



The 30th June has just past us by a-g-a-i-n ! and for Australians it marks the end of another fiscal (tax) year! Because of my ingrained financial background as a CFO/Finance Director type, and even though now retired, I am again poised for the calendar month rollover so that first thing on 1st July I will be online gathering various bank statements and investment portfolio positions as at close of business on the previous day. Years ago, I would have been involved in year end physical stock-takes and reconciliations with Inventory book balances, and, among other things, calculations of prepayments and accruals to ensure strict adherence to the "matching concept" of income and expenses within generally accepted accounting principles. And whilst I no longer have the rigours of business imposed upon me, I still apply these long-learned disciplines in managing my personal finances as well as to any honorary financial positions I might hold from time to time. Presently I am also treasurer of a large car club and so I will also soon be finalising its books for the year and preparing the annual financial statements for independent audit before presenting them to the membership for adoption.

Now I really don't want to bore you silly with boring accounting matters, but I have written previously on the benefits of taking some time occasionally to review your retirement "nest-egg" (your superannuation or pension fund) and, if necessary, to make any prudent adjustments (tweak!) your investment portfolio and your underlying investment strategy as you deem necessary. In particular, have another look at:

"Keeping your balance....financially!!"


And the end of the fiscal/financial/tax year when you are having to undertake regulatory reporting anyway, might be a really opportune time for that to happen! As I've previously advocated, you may be well advised to do this in consultation with a trained professional (as She and I do) - an accredited financial planner, who is armed with the latest financial market knowledge to assist you with best protecting your hard-earned capital and to maximise its performance returns, in terms of both its growth and income.

I've also previously shared with you some of the really worthwhile information my good friend and trusted financial adviser, Rob MacLean, Principal of Equitas Wealth Management here in Sydney has posted through his own website, and this week Rob has circularised a list of resolutions to help get your personal finances in order for 2013 and beyond - His top 5 personal finance resolutions for the Financial New Year - and I encourage to take these on board for your own financial affairs:

Rob knows I am already a "stickler" for such practices but I hope that as a result of this article and in particular your reading Rob's advice, you will be too. In this post-GFC age of financial uncertainty we all need to take a little time and care to protect what we've all worked so long and hard to accumulate - after all, it is our retirement "nest-egg" and we need it to prosper!

...and remember...have a fabulous retirementLIFE....


#retirementplanning #retirementlife #retirementmessages #retirementincome #workingretirement