Try Out New Ways To Save Money

1st August 2018 Lifestyle & Budgeting. MyDeal.com.au

Try out New Ways to Save

Here are just a couple of tips on how you can save money, contributed by Peter Horsfield, that you should try out if you’re looking to save a substantial amount of money over time:

· Instead of buying books join a library. Libraries today have way more than books; they have DVDs, newspapers, free internet, books of course. Free. Savings estimated $250 pa+
· Make lunch with from previous dinner and bring to work. Savings estimated $2,500 pa+
· If you live close enough to walk/run/ride to work or public transport, only use the car on weekends or alternatively car share. Savings estimated $1,000 pa+
· Ensure bank accounts, credit cards have no annual fees or ATM withdrawal fees, only withdraw from Banks ATM or affiliates so not to attract transaction fees. Savings estimated $250 pa+

To find out more about being smart when saving read the full article at https://www.mydeal.com.au/blog/post/financial-advice-family-households

Worry Free Naturally

27th July 2017 Health & Fitness. My Deal.com.au 

Worry Free NaturallyStress is a funny thing. You can’t see it, but golly can you feel it. It’s one of those feelings that can creep up on you slowly, or hit you like a bus. There’s no inbetween. There are so many ways you can deal with stress and anxiety, whether it be with meditation, medication or just pretending that it doesn’t exist. The last option is definitely not the best one to go with, so here are some ways you can reduce stress the natural way.

Align Your Values
Sometimes you have to take a step back and see what you’re stressing about. Is it worth the stress? Is it worth the worry? 

 “You have to align your choices with your values. Then have a game plan to keep you on track and a checklist so to ensure nothing is falling through the cracks. Says Peter Horsfield of SMARTadvice.

Ask yourself "What's important about money to me?" then ask what's important about that last answer to you?

Continue till you reach your aspirations self. After you have identified your goals, time frame and where you are today. You will have clarity about what is missing.

Start to then identify the evidence "aligned with your values" that you are making smart choices about your money i.e. if you said Security is your first value then ask yourself how much money you need to have in the bank "for the unknown" for you to feel secure. Then put that money aside or build it up.

Then move onto your next value or an additional evidence you need to have aligned to your value.

There are many moving parts to people's values and finances, let alone the noise and distractions of others and the media.

So it's vital to spend your time and efforts doing the activities you control rather than what you can't i.e. saving regularly vs market returns & economic events etc.

Other best practice activities is to create a checklist so that you can ensure you always stay on top of your "financial house".

Doing your financial chores well can esure your finaces are well maintained and you'll probably better enjoy the environment you live in.

Doing these are the basics of not only good financial management and planning they are also good for one’s relationships and quality of life.

 With the bonus that you'll get the direct benefit from spending time with loved ones and friends, exercising, eating healthily, improving your skills, and spiritual side. By being better by default you increase your chances of experiencing a better quality of life. We can’t change time but we can change what we do with it.”  

Read on for more Blessed not stressed

Don’t leave! Stop clients from walking, or at least learn trying

Professional Planner Article 27th Feb 2017

Ali-leave-900

The path the adviser should follow when a client wants to leave the firm depends on the relationship. But, Peter Horsfield from SMART Advice says, best practice is to approach the situation with an open mind and as a learning process.

Clients have many reasons for leaving their adviser,” Horsfield says. “These can include a change in their financial situation or in their relationship or career.”

He recommends phoning clients as soon as you know they are leaving, to find out why.

The conversation may lead to the client remaining, or minimise a run of other clients leaving. This would be particularly important if clients are departing the business after the firm has recently bought a new practice,” he says.

For more read the full article at https://www.professionalplanner.com.au/featured-posts/2017/02/23/dont-leave-stop-clients-from-walking-or-at-least-learn-trying-54353/

22 Resources If You're Considering A Career Change

International Career Institute 28th November 2016

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Trusted financial advisor and Certified Financial Planner Peter Horsfield shares in his blog his many years of experience in finding career satisfaction and success. On his blog you can read his insights on everything from money management, achieving your goals in life, entrepreneurialism, and practical tips on finding the right financial products. His blog articles contain many useful insights on finding career success and the psychology behind resilience and other essential qualities.

Horsfield focuses on making choices in alignment with one’s values, in order to life a more fulfilling life. As he puts it, “Making choices aligned to my values has enabled me to make better decisions, in less time and with greater confidence. This has also lead me onto experiencing greater peace, enriched experiences, deeper relationships and much more.”

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A Financial Adviser’s Guide To Investing Your Cash

GQ Magazine Finance 29th November 2016

48445-1 lWe are told, “cash is King,” but with current interest rates at historical lows, and some countries like Japan and Switzerland having negative interest rates, is the King dead?

While these low interest rates are great for borrowers, investors in cash are experiencing continuing declines in their investment returns, at the same time as seeing other asset classes such as property, shares and bonds, rise. So where is the best place to invest your hard-earned cash while waiting for interest rates to rise?

We asked Peter Horsfield, a Platinum Adviser on Adviser Ratings and Senior Financial Planner at Infocus, to give us the basics.

For more read the full artictle at http://www.gq.com.au/success/finance/a+financial+advisers+guide+to+investing+your+cash,48445

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Rebuilding your finances after a late life divorce

25th January 2016 NRMA Living Well Magazine

Late Life Divorce

Start by determining your current position, Smart Advice principal Peter Horsfield advises: "Sit down with some paper, a pen, a calculator and all your important financial documents – pay slips, tax returns, super statements, insurances, loans, credit cards, shares, bank statements," he says. "You need to know exactly where you are now, before you can begin to plan for the future."

This may also be an opportune time to seek professional advice. It's an emotionally fraught time for many folk and while family and friends play a valuable support role, the dispassionate counsel of an independent adviser can help ensure you don't make major financial decisions you'll come to regret.

Read full article: https://www.mynrma.com.au/living-well-navigator/financial-wellbeing/rebuilding-finances-after-late-life-divorce.htm

 

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Fun Investments

1st April 2016 AMAFA

Financial planner Peter Horsfield says coins are a popular investment choices for collectors. “The obvious risk with this investment is fraud and theft,” he warns.

For more read the full article : http://amafa.com.au/ten-fun-investments/

What to consider before moving into a granny flat

1st March 2016 Living Well Magazine

Granny Flat

If you and your family plan on building, then you’ll need to check out the state and local government planning laws before proceeding.

General regulations dictate there can be only one flat per house and the living space of the flat cannot exceed 60m2 in New South Wales, Victoria and Western Australia and 70m2 in Queensland, according to financial adviser Peter Horsfield.

There are also regulations regarding the height of the flat and its distance from the boundaries of the property, Horsfield says.

“These differ so much between councils that you should look into your local guidelines before making any decisions,” he says.

Read the full article: https://startsat60.com/stories/living/what-to-consider-before-moving-into-a-granny-flat

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Kick More Goals

1st December Banjo Loans Blog

Financial CoachPeter Horsfield, a financial planner with SMART Advice is one business owner who has used a coach as a business consultant to help improve his enterprise.

 “During my youth I had a swimming coach and through commitment, following instructions and building momentum I improved. Over time I rose above my competitors and in doing so felt more empowered and successful, evidenced by my results,” says Horsfield.

 “Every great athlete has a coach and if you want to be the best in your field you need a business coach. In my youth I liked to swim. In my career I like to help people reach their goals and coaching helps me achieve that,” he adds.

Accountability makes good business sense 

Horsfield says having a business coach ensures his clients gets the highest return possible from his advice. “Clients and my business coach hold me accountable to delivering value.”

When it comes to choosing the right coach he says the first step is to find the best coach relevant to your needs and budget. “Then, do some research into their style. Find out about fees, results, testimonials, their processes and the support they will provide. Many will offer a free first meeting. Take this opportunity to find out more and see if there is a personal fit between you and the coach,” he says.

Then, identify and document what’s important to you, your business’s current position, your personal goals and the milestones you wish to achieve. The coach will help you tailor activities you can control and be held accountable for to help build your business.

“I flew to the US quarterly for two years for intense five-day coaching events with other advisers. I was held accountable with calls every two weeks reviewing activities and my benchmarks,” Horsfield explains.

Tangible results 

In terms of results, he says he now has more meaningful relationships, not just with his clients but with everyone who is important to him. “I have learnt to focus on what I can control and let go of what I can’t.”

In addition, his bottom line has increased by more than 200 per cent since he started coaching, while working fewer hours and achieving greater flexibility thanks to embracing technology.

“I have been able to better focus my time and energy to do more of the things I receive a direct benefit from, including more time to exercise and more time spent on my relationships. This is one of the biggest benefits in having a business coach because I have learnt how to delegate, which has freed up my time. Every great athlete has a coach and if you want to be the best in your field hiring a business coach makes perfect sense,” he adds.

For more read the full article at : https://www.banjoloans.com/info-hub/archive/kick-more-goals-with-a-business-coach/

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Women, confidence and SMSFs

17th March FINSIA

Confident Women

Peter Horsfield from SMART Financial Advice says in his experience women tend to establish an SMSF after attaining a large sum in their employer super or industry super fund from an event like a redundancy or retirement. They can also be thrust into the management of an SMSF due to a relationship breakdown or, as previously discussed, the death of their partner. 

“I have found women approach SMSF trustee responsibilities differently. While men are mostly focused on accumulation, women focus more on the management, complying documentation and administrative tasks of owning and operating an SMSF. This approach makes women better SMSF trustees than the opposite sex,” he argues. 

In terms of the difference in the investing styles between women and men, Horsfield says the majority of men establishing an SMSF have a clear focus on accumulation. They are looking for opportunities to leverage their superannuation funds to purchase assets and direct money so their SMSF outperforms retail and industry fund managers.  

“The majority of women approach investments more cautiously and conservatively. They tend to be more open to the advice of professionals and ask more specific questions about their situation, thereby taking a more consultative approach to forming their investment strategies and styles,” he says.

For the full article read: http://www.finsia.com/news/news-article/2016/03/17/women-not-as-confident-as-men-when-running-smsfs

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SMSFs – Splitting up is hard to do

July 21st 2015 Australian Property Investor

SMSF Spliting up

“If you’re going to have a super fund, you can make it as complicated as you want or as simple as you want,” explains Peter Horsfield, a certified financial planner with expertise in advising on SMSF structures. Like most experts, he prefers a structure that sets up a company to own the property as corporate trustee, with the fund members as directors of that company.

“It comes at a cost, but if anything happens later on, then you have that scope and flexibility later to do things. If not, then it costs more later on because you have to unwind things, including sell assets,” he explains.

Neither path is necessarily simple.

Even where an SMSF is set up with a corporate trustee that allows a member to leave without necessarily dissolving the fund, the member’s balance must be extracted. That means that if the fund doesn’t have other assets of shares or cash, and the other member can’t make a personal contribution into the fund, then the fund must sell a property to raise that balance. But what if the asset has dropped in value, or the timing’s bad?

“If there’s going to be a relationship breakdown,” Horsfield says, “then most of the time there’s a component of money involved. When money is tight, that generally means assets are performing poorly. So you may be, at that high emotional state, selling something as a fire sale.”

Quite apart from the capital gains implications that flow from selling property before retirement, there’s the dreaded spectre of having to sell for less than the fund bought it for. In that case, you could lose not only your expected capital gain but other assets besides.

For more read: http://www.apimagazine.com.au/2015/07/superannuation-property-smsf-self-managed-super/

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