Seems it has been the political hot potato all week with the various factions stating their view. Tough measures reflected from tough leadership – doing what needs to be done irrespective of whether people will like you for it, is what separates leaders from wannabes.
From our angle, how did the stock market respond?
Click here to see our article on the impacts of the Australian Federal Budget on the Stock Market.
Is paying $7 to see the Dr that material in the scheme of things?
Let’s look at an alternative:
18,000 Australians die prematurely because of smoking (50 people a day).
Estimated 5.3m smokers in Australia (around 25% of the population)
Average smoker smokes 18 cigarettes a day
Average cost of packet of cigarettes is $22
Cost for the average smoker (25% of the population) for smoking $8030 a year.
On average, Australians visit the doctor 11 times per year.
Cost of visiting the Doctor will be $7
Cost for the average Australian visiting the Doctor $77 a year
So let’s get past the smokescreen (No pun intended)
Where does all this leave your approach to investing?
The key element as is generally the case with Budget and Government policy is that now more than ever, is the time for you to be taking control of your outcome and investment future, rather than running the risk of the Government handouts assisting.
Getting your money working for you may seem to hard – she’ll be right mate cash in the bank certainly wont do it. Nobody has ever saved their way to wealth, that is for sure.
So when to start, after all it is all a bit uncertain out there…
Here’ s the thing, many of us are busy and have built a life, or lifestyle, and have neglected to build a future. Getting started now is straightforward and requires one thing – a decision – either to start or to not start.
The benefit of starting now, is that you have compounding working for you. Over time, your money will grow. By not starting now, you are accepting a missed opportunity and as we all know, a missed opportunity is as good as a loss.
If you are not happy with the path you are on, why go further along it?
And let’s face it, even putting away a few extra dollars a week could help you get underway – for the typical smoker, there is currently more than $8,000 a year, literally going up in smoke.
Imagine over a decade, with some pretty steady investing would be more than a $100,000 in assets.
Why stress about the Budget and what it means for you?
By taking action and getting things under your control, you are in the enviable position of being able to expand your income potential and not at the mercy of social and economic policy.
So if your financial future is going up in smoke, now is the time to do something about it. Equally, if you have been wondering how to start, let us make it easy for you and give you an immediate and free access to our Market Foundations Program.