Most of you will have watched those initial TV ads for the NZ Lotteries Commission’s new Big Wednesday lottery by now: he says he’d like a Porsche, she says she’d like a Range Rover. They decide they’d like both. Winning lotteries is one way of achieving personal wealth but the reality is the majority of us won’t achieve the lifestyle we dream about without setting some pretty stringent financial goals.
Sunday, December 11th 2005, 6:50AM
by The Landlord
Unlimited approached four top financial planners and investment advisors to provide some basic advice to two families (their names have been changed for privacy reasons) who have just received a $100,000 inheritance from their grandmother (this bit is made up).
The aim is to give readers some idea of where to start with their own financial goals.
In real life, though, all four experts say they’d ask for more information on your personal circumstances and aims than that provided in these two examples before providing advice. Paying off the mortgage as a first step was the strong theme in the advice from the four experts, and the amount we’re all going to need to generate to maintain our existing lifestyles on retirement is truly scary.
