RYLC Posted March 31, 2017 Report Share Posted March 31, 2017 I know that, other than finding a job, the next biggest worry is how to start again in a new country with where to put your money, how things work here etc. Two people I have followed for years are Noel Whittaker and Scott Pape. I'm not saying they are the bee all and end all of financial "advice" out there. They just offer a quick read on how to get started. Their books are aimed at young adults starting out but since you are starting out in a new country the advice may be a good starting point... You decide. ------------------------------------------------------------------------------------- Noel Whittaker has a special on the "Making Money Made Simple" and "Beginners $ Guide to Wealth" books: https://noelwhittakerebooks.com.au/products/bundle-making-money-made-simple-and-the-beginner-guide-to-wealth If you use the code GIFT50 then you get 50% off, this offer is only valid for a short time. It can be downloaded for Kindle, Epub or PDF. Offer expires 12 April Scott Pape: https://barefootinvestor.com ------------------------------------------------------------------------------------- PLEASE NOTE: This is not financial advice from me. It is just a starting point. You don't have to buy anything (even the books) as you'll be able to borrow them from the local library here. The advice is simple and may not suit all circumstances. Cherry pick the bits that gel with you or discard the whole thing. There is nothing in this for me. #JustWantToHelp 5 Quote Link to comment Share on other sites More sharing options...
Husky Posted March 31, 2017 Report Share Posted March 31, 2017 Great timing. Thank you @RYLC Was just saying to a friend of mine last night that we are well aware that we are starting again. Being in our mid 40s, the thought is both terrifying and liberating. Looking forward to cleaning out. At the same time, following the sage advice of experts is critical. Going to take hard work to ensure we plan sufficiently for retirement one day. Quote Link to comment Share on other sites More sharing options...
RedPanda Posted April 2, 2017 Report Share Posted April 2, 2017 @GenDemo this is the thread with the two book recommendations. Quote Link to comment Share on other sites More sharing options...
monsta Posted April 4, 2017 Report Share Posted April 4, 2017 (edited) I highly recomend seeing a professional financial adviser when you arrive. Aussie companies are often out to screw you over. For example, if you renew your car insurance for another year, you often pay more than if you switched companies. You would think that loyalty would reward you? nope. If you don't swith cell phone plans and internet plans every year you could eventually land up paying 2x or 3x as much. Another example is you can make 2x as much money by buying shares in your bank, than if you open a savings account with them. I had a savings account paying an amazingly high interest rate... 3 years later they had nearly halved the rate. I signed up to my new bank to get "2% cash back on all paypass transactions". That "promotion" has since ended. They have a term here ... a "set and forgetter", i.e. someone who signs up for insurance, superannuation, cell phone, etc... and never shops around. Don't be one of those. Oh and once you have been here a while, update your CV every few months and upload it to seek.com.au or equivalent sites. You may have learnt a new skill in your job that is highly sort after and can get you a job with more money. A recruiter may just call you up and say " I see you have learnt the new xxx accounting package, I have a few clients who need staff who know how to use it ". I guess you just have to be a lot more money smart here. But start by paying for a consultation with an independent financial advisor. Edited April 4, 2017 by monsta 3 Quote Link to comment Share on other sites More sharing options...
RYLC Posted April 4, 2017 Author Report Share Posted April 4, 2017 The good news about the two people I mentioned are that they are both licensed financial planners. Noel Whittaker is of retirement age so his blog contains a lot of information about superannuation and retirement planning. Scott Pape is probably mid to late 30's, focuses more on young adults, has been through losing everything in a bush fire a few years ago and no longer offers paid advice as he sees himself as having less bias if he doesn't stand to gain financially. This is why I have suggested both these people: They don't stand to gain from a one-on-one consultation. Scott Pape's tag line is "Thread your own path" which to me means doing your own research first. 1 Quote Link to comment Share on other sites More sharing options...
monsta Posted April 5, 2017 Report Share Posted April 5, 2017 even better.. Quote Link to comment Share on other sites More sharing options...
RichardH Posted April 5, 2017 Report Share Posted April 5, 2017 19 hours ago, monsta said: They have a term here ... a "set and forgetter", i.e. someone who signs up for insurance, superannuation, cell phone, etc... and never shops around. Don't be one of those. This is very true. The loyal people here get shafted big time. With the power of the internet it is very easy to re-look at these options regularly and to change them. Insurance is a classic one. Quote Link to comment Share on other sites More sharing options...
RedPanda Posted April 5, 2017 Report Share Posted April 5, 2017 And if you join your local library you could get FREE access to resources like Choice Magazine Online, which is a comparison forum. Not to mention access to Audio books, ebooks and Lynda. At least, this is what the Belgrave library offers, it might vary from suburb to suburb, but it's totally worth checking it out! Quote Link to comment Share on other sites More sharing options...
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