Many people dream of becoming a millionaire. For most people, it stays a dream. Why? A million dollars is certainly a lot of money, but despite how impressive it sounds it’s a target which is well within reach if you take into account the three key factors.
As a parent, you try to ensure your children have the skills to make smart financial decisions. For example, you tell them about the importance of saving or the power of compounding interest. But did you know that you could be sending them negative money messages without meaning to?
Did you know, Australia is a generous country and spends nearly $20 billion a year on gifts? That’s about $1,200 per person per year or equivalent to buying a $4 coffee every weekday! Discover interesting insights around Australians and their spending habits as well as attitudes towards giving and receiving gifts.
Global equities increased modestly in July, with Overseas Developed Shares rising 1.1% in hedged terms. US equities in particular reached fresh highs in the second half of July, largely driven by technology stocks, however markets pulled back following an indication from the US Federal Reserve (Fed) that the 0.25% rate cut, to a range of 2.00% to 2.25%, was not necessarily the beginning of an easing cycle.
If investment had a magic number, it would be 72. Here’s why.
The rule of 72 is used to calculate approximately how many years it will take for an investment to double at a particular rate of return.