All the latest posts from your favourite Kiwi personal finance blogs in one place!
- Updates to pricing for accounting services
Hi there accounting fans! Many of you who follow my blog will know that about a month ago I started offering accounting services as I had a small number of NZ-based individuals who wanted me to help them with their tax returns. Well, the good news is that business is doing well and I find … Continue reading Updates to pricing for accounting services
- May 2020: Journey to Financial Freedom update
Welcome to Passive Income NZ, my Journey to Financial Independence. Every month I share how I am tracking towards financial freedom by providing you with an update of where my portfolio is at and how far I am from financial freedom, and how my spending is tracking. My definition of financial freedom is not really the same as everyone definition. It’s not to just stop working, it is much more ...Read MoreMay 2020: Journey to Financial Freedom update
- One step forward, two steps back
Last weekend we made an interesting decision. As you’ll probably know if you’ve read some of our story and any of our net worth posts, we are aiming to pay [...]
- Achieving FIRE in NZ
Hey there accounting fans! It looks like we’re running another webinar again! You will remember that last week I ran an interview with the author/operator of Fire Life NZ, Milan Kruger and he shared with us some really useful information about what FIRE (Financial Independence, Retire Early) is all about and how he’s trying to … Continue reading Achieving FIRE in NZ
- Fairhaven Wealth – a 3 year retrospective, and thoughts about the future
I recently celebrated Fairhaven Wealth’s third birthday. I’ve been reflecting on the past of the business, and its future. In this article I’m going to share some of my thoughts. The early days I founded Fairhaven Wealth in 2017. My first day working on the business coincided with my son’s first day at primary school. The post Fairhaven Wealth – a 3 year retrospective, and thoughts about the future appeared first on NZ Wealth & Risk.
- Before you take a loan – read this!
So here we are, in the midst of a financial crisis. Shops are closing, people are losing their jobs and there is a lot of fear and uncertainty in the air. But there is a glimmer of hope! Interest rates in general have fallen. Here in NZ, a quick search of home loan interest rates … Continue reading Before you take a loan – read this!
- An ode to the ex-flatmate
It’s funny how things turn out sometimes. We set up the larger of our spare rooms on Airbnb at the start of 2017. Got our first guest, and then, boom – a friend of T’s needed a place to live because his flat was breaking up. So he moved in with us … just overlapping ...
- The Risk in Not Quitting: Opportunity and Sunk Costs
So there’s one idea that I’ve recently brought into my life that has completely changed how I look at both long-term commitments as well as short-term failures. It’s reshaped how I think about success and how I make commitments going forward. It’s not being afraid to quit. Most people, like me, don’t follow through with their aspirations because we’re afraid. We’re afraid about what other people might think. So instead ...Read MoreThe Risk in Not Quitting: Opportunity and Sunk Costs
- Eid Mubarak!
To all my Muslim brothers and sisters and to everyone else, I would like to wish you Eid Mubarak or a very Happy Eid! We have successfully come to the end of Ramadan this year! Congratulations! Ramadan this year was particularly challenging due to the movement control orders and lock downs we all had to … Continue reading Eid Mubarak!
- Tax benefits of starting a business
Kia ora tatou. Sorry I’m a bit late on this post. It’s been a busy week. Recently we’ve been thinking about what would happen if we were to start a [...]
- In defense of the tall poppies
‘Don’t be a tall poppy’ ‘Quit being such a show-off’ ‘So you think you’re so smart?’ Have you heard any of these before? Maybe they were directed towards you. Maybe you might have said them to someone else. But why do people feel a need to say these kinds of things? Having grown up in … Continue reading In defense of the tall poppies
- You can’t short the apocalypse – so why not be optimistic?
Remember 2017? It feels like decades ago. There was a time in 2017 when we were wondering whether Donald Trump and Kim Jong-un of North Korea might go nuclear. We may be dealing with a pandemic, but I guess one consolation is that we’re not dealing with COVID-19 while also dealing with the fallout of The post You can’t short the apocalypse – so why not be optimistic? appeared first on NZ Wealth & Risk.
- DIY Investing in Funds and Shares in New Zealand: Popular Investment Platforms for Kiwis
Investing is an excellent way to grow your wealth over time- and this is especially true with shares. But where do you begin- which investing service or platform should you use? How do you start “do it yourself investing”. I am going to introduce you to some of the best services and platforms to invest with as a DIY investor in New Zealand that you can use for DIY investing ...Read MoreDIY Investing in Funds and Shares in New Zealand: Popular Investment Platforms for Kiwis
- Efficiency ratios explained!
It is time for the next in the ratio analysis series – efficiency ratios! So if you have been following the ratio analysis series, you will remember that we first discussed profitability ratios, to measure how profitable the business is. Then we looked at gearing/liquidity ratios which helps us determine whether or not the business … Continue reading Efficiency ratios explained!
- 42. Coming a long way in a short space of time.
In this final podcast of this series, I’m doing a recap of two people that I’ve spoken with earlier. Firstly there was Bret from episode #20, a guy who had gone from being a super consumer to someone who is finally, much to the relief of his partner Shelley, in control of money. And secondly, I spoke with Lucas from episode #28 who last time we met was staring down the barrel of a $1.2 million dollar mortgage. Both of these couples have come an extremely long way in a very short space of time and I think that hearing from them will help many people who are currently finding themselves in tough situations of their own.
- Get Your Personal Finances Sorted in Five Stages
It takes time to get your personal finances sorted. And often you don’t know where to start. And the thing is that no one can really show you how you should sort your personal finance, after all, personal finance is exactly that- Personal. However, there are several key stages in personal finance that you do need to get sorted. These are the stages that I have gone through to get ...Read MoreGet Your Personal Finances Sorted in Five Stages
- Interview with the man on FIRE
Hi there accounting fans! Are you familiar with the FIRE (Financial Independence, Retire Early) Movement? For just a bit of background – the FIRE movement came about as part of a drive towards financial independence via increased savings and increased earnings. Also it has a pretty cool acronym. The FIRE movement is quite big in … Continue reading Interview with the man on FIRE
- Should emergency funds be included in net worth?
If you keep track of your net worth, well done! It’s important to do, how else can you know whether you’re amassing a nest egg for later in life or [...]
- Gearing/Liquidity ratios explained!
Having looked at profitability ratios in our last article, today we shall look at the next article in the financial ratios series: Gearing/Liquidity ratios! To start off with – let me explain the weird sounding names for this particular group of ratios. What is liquidity? Liquidity (from a business perspective) looks at how ‘liquid’ the … Continue reading Gearing/Liquidity ratios explained!
- Financial literacy and financial confidence
Many people think they lack financial literacy when what they really lack is financial confidence. This may not be representative of the country at large. But in the sample of people I deal with professionally (ie, clients) or personally (friends and loved ones), the issue is often confidence rather than knowledge or ability. In fact, the main The post Financial literacy and financial confidence appeared first on NZ Wealth & Risk.
- AMP NZ Share index fund vs SmartShares NZ Top 50: Fee Update
A little over two years ago AMP Capital NZ introduced three new low-cost index fund for Kiwi investors. They were the; NZ Shares Index Fund with a management fee at 0.33% and Buy/Sell spread of 0.10% All Country Global Shares Index Fund with management fee at 0.38% and a Buy/Sell spread 0.15% Hedged Global Fixed Interest Index Fund with a managed fee at 0.39% and a Buy/Sell spread 0.10% The ...Read MoreAMP NZ Share index fund vs SmartShares NZ Top 50: Fee Update
- 41. Turbulent Times
This week I tell you all about Catherine and her husband Luke. Both of them had been enjoying successful careers and had been working to a financial plan that had them thinking years into the future. Life was sailing along pretty well, all things considered, until very recently when they hit a major roadblock, due to a job loss caused by COVID-19. Sometimes we think we are heading in one direction but a fork in the road throws up a few other suggestions and we have no choice but to adapt.
- How to apply for the SBC loan on My IR
Hi there accounting fans! Now the process of applying for the SBC loan is SUPER simple. But that being said, I will still walk you through the process step by step to help you clear any doubts, misgivings or confusion you may have about the whole process. So let’s get started now! First of all … Continue reading How to apply for the SBC loan on My IR
- The small business cash flow loan scheme explained
Starting from 12 May 2020 until 12 June 2020, small businesses in NZ may be eligible to apply for a Small Business Cash Flow Loan Scheme (SBC) to help them maintain and support their business operations. So today that’s exactly what we will be discussing. A lot of the information is available on the IRD … Continue reading The small business cash flow loan scheme explained
- Should You Invest in an Electric Bike?
Electric bikes are all the rage today- In fact, anything electric. Scooters, bikes, cars- There is a lot of hype around all of them. But should you buy one? Electric bikes make riding a bike effortless, at any speed, almost up any hill. You don’t even need to be an athlete to get all the glorious benefits of cycling. And think about what would traffic be like if everyone had ...Read MoreShould You Invest in an Electric Bike?
- Net Worth – May 2020
We’ve had a good month for investing. Our KiwiSavers have regained more ground and we socked quite a bit away into Sharesies. As the total portfolio there is now over [...]
- April 2020 was the S&P 500’s best month in over 30 years. Huh?! How is that possible?
April 2020 was the S&P 500’s best month in over 30 years. (Since January 1987, to be specific.) During that same month, tens of millions of Americans claimed unemployment benefits. Huh?! How is that possible? Many people would (reasonably) think that state of affairs is crazy. This sounds crazy, but it’s not as weird as The post April 2020 was the S&P 500’s best month in over 30 years. Huh?! How is that possible? appeared first on NZ Wealth & Risk.
- NZX50 Past Percentage Returns table
The year by year returns of the NZX 50 Index, an index representing the 50 largest stocks listed on the New Zealand Exchange.Table of returns for the NZX50. As of April 2020- the NZX 50 has returned 476% since the year 2002. Historically, the New Zealand Stock Market (NZX 50) reached an all-time high of 12107.45 in February of 2020- just before COVID 19- which was a 545% return since 2002. Year Open Close Gain/Loss Percentage ...Read MoreNZX50 Past Percentage Returns table
- 40. It's never too late to change.
This week I’m going to share the story of Linda, a woman in her early 50’s who has had a huge shift in mindset over the last ten months. Linda’s journey with money had just been trundling along year in year out for, oh I don’t know, about 52 years! But in July 2019 there was to be a bit of a change in direction when she started to question the status quo and wondered if not paying her house off until she was in her mid 70’s was the best idea after all?
- Make yourself scarce
Scarce things tend to be valuable. Sometimes there's no rational reason for this. As Robert Cialdini points out in Influence: The Psychology of Persuasion, perceived scarcity has a whirr-click effect on people, and this is often weaponised by marketers and salespeople. A key message: any time something is marketed as scarce, your BS radar should be The post Make yourself scarce appeared first on NZ Wealth & Risk.