Indholdsfortegnelse for September 2023 i Money Magazine

NIKKI EDWARDS Partnerships manager, Rainmaker For as long as I can remember I have always been in love with shoes and I am known for this among my friends and family. At least my husband has finally accepted the fact (I think) “we” will always have a shoe storage problem. I'm not getting any younger and the reality is that I have more than enough pairs to choose from, but I still feed this addiction – instead of putting my money into something more worthwhile (husband's words), like my super. It's good advice from him, I guess. At least I'll be well-heeled when I retire. SCOTT PHILLIPS Chief investment officer, Motley Fool I'm red hot on people making sure they don't pay too much for their everyday expenses – think…

During my time as an accountant, I saw how many of us fall into the trap of procrastinating when it comes to our finances and ending up with a mountain of taxtime stress. New research from Intuit QuickBooks puts figures to this trend, revealing that 31% of Aussies say that the end of the financial year (EOFY) is one of the most stressful times of the year. Too often we think, “I'll sort the finances later…” and, before you know it, Halloween, Christmas and Easter have come and gone and your receipts are still sitting in a pile. By connecting with an accountant or bookkeeper, you get expert advice and planning help to take the sting out of doing the books. Combined with a solid accounting software program to track…

Thinking about jumping head first into investing? Read this book before you take the plunge. Investing doesn't have to be hard or timeconsuming. Technology has made the stockmarket more accessible than ever and even a few cents is enough to get you started. Co-authors and investment podcasters Alec Renehan and Bryce Leske launched their first podcast in 2017. In this book, they pass on their expert knowledge and show you the simplest way to invest in the stockmarket in four easy steps and explain why this straightforward, automated strategy works. Seven readers can win a copy. In 25 words or less, tell us if you prefer to invest in the sharemarket or in property and why. Enter online at moneymag.com.au/win or send entries to Money, Level 7, 55 Clarence Street,…

MORE MONEY STORIES ON P72-80 Following 12 interest rate rises since May last year, almost 1 million Australians are juggling a second job or a side hustle to make ends meet, new data from the Australian Bureau of Statistics (ABS) shows. There were 947,300 multiplejob holders in March (or 6.6% of the population) – nearly 20,000 more than in December last year, according to ABS data released in August. Of these multiple-job holders, 7.7% were employed women, compared with 5.7% of employed men. Young workers were most likely to be working multiple jobs (8.9% of 20- to 24-year-olds and 7.9% of 15- to 19-year-olds). People whose main job was in agriculture, forestry and fishing or administrative and support services had the highest multiple-job rates in March 2023 (9.2% and 9.1% respectively).…

Many Australians are suffering housing stress, according to a new report. An internationally accepted benchmark of stress is that housing needs to be no more than 30% of a household budget to avoid financial worries and difficult choices. Brutal Reality: the Human Cost of Australia's Housing Crisis found that the majority of survey respondents (67%) were in housing stress. The 749 respondents were drawn from supporters of Everybody's Home, a national campaign launched in 2018 by a coalition of housing, homelessness and welfare organisations to fix the housing crisis, meaning they were already concerned about housing availability and affordability. Of the respondents renting and in share houses, 295 (82%) said they were spending more than 30% on rent. The report found that over the past three years, asking rents for…

ASK PAUL Q&A Gillian has received a TPD payout and feels overwhelmed by her financial situation Q I think my only option is to buy a house with cash – but is this ever a good idea? I am 32, single and searching for my first home. However, due to being on the disability support pension, my borrowing capacity is incredibly low, especially in this climate ($110,000). Thankfully, after receiving a total and permanent disability payment to my super, I now have $750,000 of superannuation, in addition to $60,000 in shares outside super and about $50,000 in cash. I have read that property only outperforms the sharemarket when it's leveraged, so I'm not sure whether it's worth investigating starting a pension stream from my super to get a mortgage (although this would…

ASK PAUL Q&A Jack, at 26, is doing well and is keen to set up an income stream for his later years Q I'm 26 and earn $100,000plus, of which I dollarcost-average about 10% a month into a portfolio of exchange traded funds. It consists of around 70% S&P500/ASX300 indexes, 15% small caps, 5% emerging markets and 10% in a couple of thematic exchange traded funds (ETFs) following industries I believe are set for high growth in the next 10 or so years. However, as I get into my late 40s to 50s I want to pivot from a high-risk/growth strategy to more of a passive income strategy. What's an efficient way to make this transition without triggering a tax event from selling down my higher-risk ETFs, which (I hope) would…

What is it? The Kids’ Cancer Project has a vision: “To see a 100% survival rate for children with cancer while eradicating the harmful impacts treatment can bring.” It is in this quest that the organisation, which recently marked its 30th anniversary, supports “bold science”. To mark Childhood Cancer Awareness Month in September, the Kids’ Cancer Project is calling on Aussies to go gold on social media, buy and wear a gold ribbon, raise money, or download an advocate kit for tips on how you can help spread awareness. Where your money goes: According to thekidscancerproject.org.au, $108 funds a researcher for two hours to help find better cancer treatments, $237 funds pharmaceutical prep of a new clinical drug and $1078 funds tests to see if a new drug works for…

COVER STORY BUY, KEEP, OR SELL: YOUR PROPERTY GOALS Traditionally, Australians have built wealth for their later years by buying a family home and paying it off. Having a mortgage-free home going into retirement not only gives you the security of your own place to live in, it opens up opportunities to increase the amount of money you have available to enjoy your life. But rising house prices – combined with steeply But rising house prices – combined with steeply rising interest rates over the past year – mean many people, especially the young, find it much harder to pursue the great Australian dream of owning their own home. Homeowners are facing the worst housing affordability since 2008, as mortgage repayments eat a huge chunk of their income, according to the…

Australia has a dire shortage of affordable housing. While governments fund the bulk of the social housing our country needs, private investors can also play an important role. Rents for affordable housing are below market levels, but this is offset to some extent by lower risk and strong demand for this type of accommodation. There are also tax incentives to encourage investment. Glen McCrea, deputy chief executive of the Association of Superannuation Funds of Australia, says there is a distinction between social housing, which typically goes to lowincome people in the form of public housing financed by governments, and affordable housing, which is used by lower to middle income people who can't afford the rents in areas where they need to live. The latter presents the main opportunity for private…

We are delighted to bring you this year's Consumer Finance Awards, which are designed to recognise the country's leading banks and insurers. In determining this year's winners, we've strengthened our selection criteria by incorporating the results of a readership survey on banking preferences conducted in May and June this year. This survey yielded 3382 responses, which were then analysed by our research partner Rainmaker Information, the publisher of Money (see methodology). We'd like to thank our readers for their participation, as their valuable feedback added extra depth and dimension to the awards. The outcome of the readership survey also gave us an opportunity to introduce six new banking awards this year, namely Bank of the Year – Savers, Bank of the Year – Young People, Bank of the Year –…

As society has moved away from cash, electronic transactions have naturally boomed. So much so that the average number of electronic transactions made by Australians has jumped from 300 to 650 each year over the past decade, according to the Reserve Bank. Keeping track of these transactions can be tricky, especially for people who bank across multiple institutions. But for Australians looking to stick to a budget, it can be crucial. To cater to people's digital budgeting needs, an array of budget and money management apps has sprung up in recent years, including Buddy, Frollo, Goodbudget, PocketSmith, WeMoney and You Need A Budget (YNAB), to name a few. Peter Marshall, a banking expert at comparison website Mozo, has researched money management apps as part of an annual awards program and…

Excellent question, Aimee. In fact, it's one of the most important for any young family. As you know, life is a series of moments and decisions. You go one way and it is rarely possible to look back and analyse the impact of the other path. But if you are in a position – after the mortgage, bills and other generally expensive stuff to do with young kids – to put money aside for them, no matter how little, it will be so valuable to them. Long-time readers will have heard this before, but my parents put a few dollars aside for my sister and me. It was just a few pounds a year back in the late 1950s, which I guess, adjusted for inflation, is about $10 a week…

REAL ESTATE Pam Walkley Listed real estate investment trusts (REITs) enable investors to buy stakes in diverse property assets without having to invest the huge sums involved in buying property directly. REITs primarily hold big commercial and residential property assets, which they lease to tenants. The rental income, less expenses, is generally passed onto investors, and this regular income is a major reason many investors are attracted to this sector. But the opportunities to invest in international property through buying an Australian REIT are limited, with A-REITs accounting for just 3% of the world's REIT opportunity. Global real estate investment trusts (G-REITs) account for the lion's share, 97%, of the total REIT sector. Not only is the G-REIT sector much bigger, it is also much more diverse. About 85% of…

MANAGED FUNDS Max Riaz Finding enduring success in anything in life requires a set of good habits (process), necessary skills and a winning mindset (emotional intelligence). This applies to being a successful investor. This month's article is inspired by Greg H, a reader who shared his view that finance skill is but a minor part of what it takes to be a good investor. My response is that it really depends on how you are investing and what you are investing in. Certain types of investing will require you to have negligible or basic-level knowledge of finance, while in other cases you will need to be fully across the financial statements of your invested company – for in it will lie the opportunities and the material (existential) risks. Option 1:…

While ASIC's analysis found a base of fairly consistent label usage, with the five main labels having reasonably well-established meanings, it also picked up some “divergent behaviours and practices” that could make it more difficult for consumers to understand and compare their super fund options. Beyond the misuse of labels for singleasset class options where the assets aren't within that class, which is potentially misleading and deceptive, the regulator recommended super funds avoid: • Using unusual or unique labels • Using common labels in a manner inconsistent with general market practice • Using common terms in odd or contradictory combinations or missed language. ASIC said super funds risk confusing consumers if their investment option labels use terms that are not meaningful, or worse, meaningful but misleading, such as by making…

THE HOT SEAT Q How did you come up with the idea for the Oodie? Did you expect it to become as big as it has? At the time, I was selling weighted blankets as I saw how helpful they were to people. Knowing that the big box retailers were going to copy our product, I knew we needed to expand the product range. We knew fabrics and we knew blankets, so we decided to create an incredibly soft, tactile wearable blanket. When I saw how well they were selling, I spun it off into its own brand. I had no idea how viral it could go and I am very grateful to the team and our amazing customers for the support they have given the brand and the product.…

Great article by Vita Palestrant regarding insurance within your super account (“Check your insurance cover too”, August 2023). I'd like to add a couple of points from my own “insurance journey”. Many of us have income protection insurance (IP) through super, as well as total and permanent disability insurance (TPD). IP often looks more and more like junk insurance as you get closer to retirement because the cost gradually outweighs the payout benefit as you age. Many super funds do not advise you of this and simply increase the cost of this insurance each year. It pays to take a very close look at your IP cost/ benefit, especially when you get to your late 50s to 60s. Additionally, at the opposite end of the age scale, if you have…

BACK TO BASICS Serina Bird Remember that ad about the new mum expecting visitors who was stressed out about the state of her loo? Many of us want our homes to be clean, and worry about what others think of us. Having a neat, clean home can be satisfying. During Covid lockdowns, we noticed the state of our homes even more because we were spending more time in them. Pre-Covid, we spent around $4.6 billion a year on household cleaning products, according to the Australian Bureau of Statistics. The market continues to grow, with Australians having a love affair with clean homes (or at least the aspiration of having one). Who hasn't been transfixed by a cleanfluencer Instagram reel or YouTube clip showing how to clean an oven or a…

“I am a 55-year-old single mother of a pre-teen child. I work two jobs to pay the mortgage I have now after [my] divorce. My interest rates are about to increase and I am preparing to sell my house … It is terrifying.” From Brutal Reality: The Human Cost of Australia's Housing Crisis NEWS BITES A tight labour market and higher wages (increase in the super guarantee and minimum wage) are forcing close to half of Australian businesses to look offshore for labour, reveals a study by comparison service Money Transfer Comparison. “It has been evident, after the pandemic, that staffing is one of the biggest challenges for Australian businesses,” said Russell Gous, spokesperson for Money Transfer Comparison. Retailers are feeling the pressure to reduce their environmental impact, with more…

Anyone approaching retirement will hopefully have done their research to find out how to live comfortably in their golden years with the perfect balance of super and age pension. But what about those who want to go beyond comfortable and enjoy their non-working years living the good life? The key is retiring rich … $99,000 a year rich. On this episode, Sharon Nutter, head of Vanguard Super, shares her strategies for generating a large income for retirement. How to mitigate the effects of parental breaks on your wealth accumulation and how a little confidence goes a long way. SCAN THIS CODE TO ACCESS ALL OUR FRIENDS WITH MONEY PODCASTS…

Sharemarket analysts have traditionally been pessimistic about the outlook for consumer electronics during a downturn, as big-ticket purchases tend to be one of the first expenses cut. But sales of phones and gaming consoles at JB Hi-Fi and the Good Guys continued strongly in July, while the store experienced a slight drop in sales of electronics and whitegoods. Sales growth at Australian JB Hi-Fi stores was down by 1.8% for July, while the Good Guys declined by 12%. JB Hi-Fi chief executive Terry Smart told analysts during a call in August that less discretionary consumer electronics products continued to perform well. “Mobile phones continued to be solid … it really was technology and some continuation of gaming [sales strength] that came into the JB results,” he said.…

All epic tales involve a little tragedy. Achilles had his heel. Samson had a haircut. And ResMed has its gross margin. It was down more than two percentage points in the three months to June – a mudslide by historical standards. At 55% it's the lowest in more than 20 years. The fall was due to a mix of factors, including some outside management's control, such as currency movements. Device sales have essentially flatlined over the past six months, but the gross margin continued to fall in each of the two most recent quarters. Management admitted to challenges posed by higher inventory costs, supply chain disruptions and increased component expenses, but says these costs are gradually working through the system. Chief executive Mick Farrell pointed to several tailwinds that should…

Rocky is stressing over the investment property he bought to help his daughter Q My wife and I bought an investment property a couple of years ago, hoping that our young daughter might be able to move into it when she finishes school. But the rent doesn't come close to covering the mortgage, and our other costs are spiralling out of control. Should we hang onto it at all costs, or is it okay to recognise that things haven't gone to plan and sell the second property so we can sleep at night? Another challenging question. Technically, there is little doubt that holding well-located property in the long term is a winner. Inflation plus a growing population will, over the decades, see property continue its role as a store of…

In 2022, the ‘Applejack’ is my pick of three impressive single-vineyard pinots from the Yarra's Giant Steps, where winemaker Mel Chester has comfortably moved into the big shoes of Steve Flamsteed. Her talent shines in the individuality of these wines. This is intense, fine and deep, with blackberry brambles and dark cherry flavours that persist in the mid-palate and linger on a finish to which gentle tannins give definition. PETER FORRESTAL…

SPONSORED CONTENT DIVERSIFICATION Ask Australians about their next holiday destination, and many will name an ASEAN nation – maybe Indonesia, Vietnam, Thailand, the Philippines or Singapore. These countries offer vibrant experiences, and are literally on Australia's doorstep. Yet few of us have these same ASEAN nations in our investment portfolio, and this can mean missing out on opportunities to tap into the growth and diversity these markets offer. ASEAN (Association of Southeast Asian Nations) is made up of 10 member states – Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. What's remarkable about many of these nations is the rapid growth they are experiencing. A recent report by the Organisation for Economic Co-operation and Development (OECD) says ASEAN economies have “shown resilience in the face of…

CASE STUDY Graham (single non-homeowner) Graham didn't buy a home and has always rented. In 1993, he started investing in the ASX, starting with $2000 and regularly investing $6000 a year. After 30 years, this is worth $953,739 (The ASX has returned an average 9.64% a year over that time). Graham's current position at pension age is: Share portfolio $954,000 Super (average balance, man 65-74) $435,900 Total assets $1,389,900 With assets above the cut-off level for a non-homeowner and a deemed income of $30,055 a year, Graham is not eligible for an age pension. He's likely to earn more than this for his assets. For example, $900,000 invested in the Vanguard Australian Shares High Yield ETF (ASX: VHY) – which pays a dividend yield of around 5.5% a year – would yield…

While the National Rental Affordability Scheme, under which the federal government paid incentives for providers of affordable housing, is being phased out, private owners who provide affordable housing are still eligible for some tax concessions. Along with the standard tax deductions on rental properties, the Tax Office says individuals and entities eligible for the 50% capital gains tax discount can get an extra 10% for the period they rent it out as affordable housing. They must have used their property for affordable housing for at least three years since January 2018. It says the three years doesn't have to be continuous – they can be any 1095 days during this period. The property must be managed by a registered community housing provider, which will send you a certificate each year…

FAMILY MONEY Susan Hely In my last two years of high school, I worked two or three nights a week as a kitchenhand in a local restaurant. I loved the job, the money and the independence it gave me. It taught me how to juggle my time and the money I was earning. But it was hard to sustain the late hours while going to school five days a week. It wasn't great for my grades either. As the restaurant's dishwasher and plater of entrees and desserts, I worked until all the diners finished. Then I would have to get home: a very slow bus trip and a long walk. Sometimes I would get a lift, which meant waiting around for others to finish. Around half of all Aussie school…

Aims to achieve long-term capital growth exceeding the return of the market by investing in global equities. Since 1986, the manager has maintained a unique investment philosophy based on selective stock picking coupled with thematic tailwinds and a long-term horizon. GQG Partners Emerging Markets Equity Fund (APIR: ETL4207AU) Seeks to invest in high-quality companies with attractively priced future growth prospects in emerging markets. It takes conviction positions in high-growth economies such as India. Perennial Better Future Trust (APIR: WPC5600AU) An actively managed portfolio of mainly smaller and mid-cap ASX listed (and unlisted) companies. The fund invests in sustainable themes, such as healthcare, education, renewable energy, low-carbon technology, water management, environmental services and social welfare.…

OUTLOOK Alex Dunnin The ASX closed the 2023 financial year with a total return of 14.8% (S&P/ASX 200 index) and international shares delivered a whopping 23%, defying the doomers who failed to understand the difference between the financial capital markets, the real economy, inflation and interest rates. While the real economy is all about the prices we pay on the street for real-life things such as housing, food, labour and household appliances and services, the financial market is where we buy and sell securities like shares and bonds. Inflation is the rate at which things in the real economy are going up in price and interest rates are the price we pay to lenders if we want to borrow money. There are a few rules of thumb we should remember.…

The tables on these pages contain data and information to help you compare managed funds, which are pooled funds managed professionally by investment experts. Managed funds displayed in these tables are multi-sector or asset class specific. Multi-sector managed funds invest across a diversified mix of asset types spanning equities, property, bonds, cash, infrastructure, private equity and alternatives. Managed funds are normally set up as unit trusts. You may be able to invest in them directly or through a platform. Source: Rainmaker Information. Data sourced June 30, 2023. *Numbers stated here depict averages, other than the Rank column, which is the total number of funds in the category. For any queries on these tables, please contact info@rainmaker.com.au. These products may be recommended to you by a financial adviser. The performance results…

Australian Communications and Media Authority 1300 850 115 acma.gov.au Australian Competition and Consumer Commission 1300 302 502 accc.gov.au Australian Energy Regulator aer.gov.au/consumers/making-a-complaint Australian Financial Complaints Authority 1800 931 678 afca.org.au Australian Securities and Investments Commission (ASIC) 1300 300 630 asic.gov.au Australian Securities Exchange (ASX) 131 279 asx.com.au Association of Superannuation Funds of Australia (ASFA) 1800 812 798 (outside Sydney) 9264 9300 (Sydney) superannuation.asn.au CPA Australia 1300 737 373 (within Australia) +61 3 9606 9677 (outside Australia) cpaaustralia.com.au Do Not Call Register To reduce telemarketing calls 1300 792 958 donotcall.gov.au/contact-us/contact-details Fair trading/ consumer affairs ACT: 132 281 NSW: 133 220 NT: 1800 019 319 QLD: 137 468 SA: 131 882 TAS: 1300 654 499 VIC: 1300 558 181 WA: 1300 304 054 Financial Counselling Australia National Debt Helpline: 1800 007 007…

National cabinet last month backed a deal on housing that sets a new target of building 1.2 million homes over five years. There is $3 billion in federal incentives up for grabs for states and territories that help meet the goal, and the federal government will also pay $500 million for essential services such as basic amenities in new projects. The federal government has also agreed to set national principles on renters’ rights, but it will be up to each state/ territory to harmonise laws to prevent landlords from increasing rents more than once a year and from making “no-grounds” evictions. The new rental protections would be introduced “as soon as we can”. Housing is one of the major challenges of our time. Since 2005, the median house price in…

Compounding is one of the most valuable lessons an investor can learn. $50,000 invested at a 20% annual return and left to compound will be worth $2 million in 20 years. In a business context, compounding relies on reinvestment. Earnings are reinvested to generate additional earnings over time. Highly profitable businesses have a greater capacity to reinvest in expanding their business. Profits increase gradually at first, but over time this accelerates. Successful investors like Warren Buffett look for quality compounding businesses – ones that can consistently earn good profits and then reinvest those profits to generate more profits. Finding them and holding them for the long term can lead to significant wealth accumulation. Quality businesses will exhibit decent sales growth, wide margins, reliable profits and strong balance sheets. An example…

Do you make money from your hobby? If so, you should consider the tax consequences. People who make money from their hobby are in the ATO's sights this year, on the grounds that they are really conducting a small business and should be taxed accordingly. If, for example, you bake a few cakes and sell them at a local market on a Saturday morning, or cook meals that you sell through a website to people in your local area, you might think that you're doing something purely to pass a few relaxing hours. Any income you earn might be incidental – it can't possibly be taxable, you might think. Sadly, you'd probably be wrong. Every year, the ATO pursues thousands of taxpayers who thought they had a hobby while it…

The number of Australians trading shares and exchange traded funds (ETFs) online has dropped by 15% in a matter of months. While 1.28 million investors placed a trade in the year to May, according to the latest Australian Online Investing Report from Investment Trends, that number is down from 1.51 million towards the end of last year. “The primary cause of the decline is a remarkable surge in dormancy – 423,000 previously active investors did not participate during the reporting period – combined with lower inflows of new-to-market investors,” says Irene Guiamatsia, head of research at Investment Trends. More than a third (34%) of dormant investors surveyed by Investment Trends said they simply didn't have the money to spare because of rising living costs. A similar number (36%) of would-be…

COVER STORY The latest census data reveals some startling property trends that upend many of the long-held assumptions about home ownership. While home ownership in Australia has kept pace with global trends, it has declined at an alarming rate across all age brackets. Over the past 50 years, it has fallen from 64% to 50% for those aged 30 to 34 years and from 50% to a low 36% for those aged 25 to 29. Aussies aged 50 to 54 are holding the fort – for now – with a 72% home ownership rate, although this is still down from 80% in the past. Housing prices, evolving lifestyles and rising living expenses all combine to create an environment where property ownership is no longer the simple financial decision it once…

It can take the average first home buyer more than five years to save for a house deposit. That's five more years of paying rent, watching your dollars and hoping house prices don't shoot upwards again. But there are ways to get into the home ownership game sooner. Lenders mortgage insurance When we talk about saving for a home deposit, we usually mean 20% of the purchase price, because this is what you need to take out a home loan without lenders mortgage insurance (LMI). However, if you're prepared to pay for the insurance you can borrow up to 95% of the property price and get into the market sooner. The smaller the deposit and the more valuable the property, the more you will have to pay. Some lenders have…

BANK OF THE YEAR The winner had the highest overall composite ratings scores across products and features, customer service and digital experience. Only national full-service banks were eligible to win this premier award. WINNER: MACQUARIE BANK CUSTOMER-OWNED INSTITUTION OF THE YEAR Similar to Bank of the Year, but only full-service customerowned banks were eligible to win this premier award. WINNER: HERITAGE BANK BUSINESS BANK OF THE YEAR There's more to being a leading business bank than just offering a good deal on business accounts and loans. This is why this year Rainmaker enhanced the methodology for this award category to identify the leading national full-service business banks that offered the most comprehensive services across business accounts, loans, credit cards, term deposits, currency management, cyber risk protection, fraud protection, point-of-sale and…

PAUL'S VERDICT Paul Clitheroe YOUR QUESTION My partner and I have two young children: a threeyear-old and a new baby. We have a $500,000 mortgage on a house currently valued at $780,000. We have $50,000 in cash savings and no other debt. My partner's salary is $120,000 and I am presently a stay-at-home mum planning to return to two days a week in administration towards the end of the year. We'd love to know what our most impactful move is in regard to a long-term investment for our children to cash in on in 25 years for home deposits, etc. Options we are considering include $20,000$40,000 in mutual funds or exchange traded funds or, purchasing an investment property (to transfer to the kids in 25-plus years, or to sell and give…

Young people are so keen for a job in industries such as media, public relations, law, creative arts and not-forprofits that they will gladly take an unpaid internship to gain experience and have it on their CV. As well, internships are now a compulsory part of some courses, such as communications, some health services and social work. But parents and kids need to recognise that not only do interns have to support themselves during their unpaid work, they must also pay their own travel costs. Parents also have to make sure their kids are covered by their health insurance. This can lead to kids and young adults weighing up whether to take an internship or work part-time. Fair Work Australia's investigation into internships found a growing number of businesses that…

South Australian Maureen Mills and her husband have been customers of Heritage and People's Choice for more than 30 years. That may be something of a record, but Mills admits she started out with some of Australia's biggest banks. “We didn't have good experiences,” she says. “So we went to Heritage and People's Choice, which back then was Australian Central Credit Union, and we have never looked back.” Mills says the bank has always welcomed them with open arms, and bent over backwards to help them through a variety of life stages. “They have helped us buy homes, set up and grow a business, and now they are helping us with bridging finance as we downsize our home in retirement. “I'd always go with a customer-owned bank. They are great…

At the end of the day, rental properties are investments. So it is essential that the numbers stack up. While converting your property to a smart home with all the bells and whistles may not be achievable, it is worth working out which investments will return the most favourable benefits to your tenants – and in turn a higher rental yield for you. Remember, rental properties exist within the context of their local market, which will have a median rental for comparable properties. When it's time to increase the rent, it often puts the landlord in an awkward situation with a tenant (especially if you have always maintained a friendly relationship). This is why you need justification for your rental movements. In addition to the suggested property upgrades, the following…

SUPER Vita Palestrant When it comes to choosing an appropriate investment option, super fund members rely on labels such as high growth, growth, balanced, moderate and conservative. They indicate that option's key features and its underlying risks. These five pre-mixed, diversified options are invested in a range of growth and defensive assets. The high-growth option invests 90%-100% of your money in shares and property, while the conservative option allocates 70% to cash and fixed interest and the rest in growth assets. Remarkably, there are no regulatory rules or standards governing these labels. Instead, super trustees apply a growth/ defensive categorisation to their labels that is commonly agreed upon by the industry. Xavier O'Halloran, director of Super Consumers Australia, says this categorisation doesn't always work for consumers and can be unreliable.…

BEST IN BREED Scott Phillips SECTOR UTILITIES You probably know by now that I'm a bit of a sceptic when it comes to the idea of a “new normal”. Most such pronouncements tend, in my experience, to be a “temporary abnormal” before the “old normal” resumes. Most are short-term fads and too often take investors’ money with them. But not all. There's a difference between a fad and a trend. Actually, a lot of differences, but in general trends tend to be of the Aesop's tortoise type, rather than the faddish hare. They often arrive without fanfare. They tend to proceed slowly. And they tend to be of the “I think I can” variety, rolling on steadily and changing things permanently as they do. Think about the rush to cannabis stocks.…

Marcus Padley THIS MONTH I think everyone who has ever traded in the stockmarket remembers the ones that got away. I, for instance, once held 250,000 Oil Search at 50c, sold them at 60c; they went to 950c. I also once held 50,000 Zinifex at $2. Sold them at $2.40; they hit $21.60. That's before we get to the 200,000 Davnet at 40c. They went to $6 and the 300,000 Voicenet at 38c – they hit $3.80. Hindsight really is a wonderful thing in the stockmarket because it's empirical, absolute, gloriously accurate and painful. When you look back, you can say, “I had my chances, I held that stock, it could have been.” I could have made a million here and a million there and, most tortuous of all, all…