The book describes 100 important financial strategies that are relevant to a wide range of ages. Some are intended primarily for teenagers and young adults in their first jobs, others for young couples starting families, others for families and singles in wealth building mode, and still others are for pre-retirees, retirees and for those whose health needs are increasing later in life. The strategiesa re grouped into chapters, according to the main demographic who may be interested in them.
The structure of the content about each of the 100 strategies is the same. Each strategy commences with a few bullet points that outline who that particular strategy may be relevant for. This is to enable readers to quickly identify the strategies that may be of the most interest to themselves. Then, the "background" to the strategy is described - this may mean the social or legislative or tax or other aspects that the reader needs to be aware of, in order to fully understand the strategy. Next, the key point of the strategy is explained: why should the reader even consider it? Then, the book tells the reader how to implement the strategy; what steps does the reader need to take to "make it happen". For most of the strategies, there is a sample numerical calculation of the benefit of applying the strategy both in a single year, but also over longer timeframes of 5 years, 10 years, 20, 30, 40 and 50 years. Often these calculations show that a strategy that doesnt seem to make such a huge difference in the short term makes a very large difference in the long term.
Finally, for each strategy, there is a section that describes the factors that a reader would need to take into account before taking the decision to implement that strategy.
The book contains almost 500 references to websites that may help the reader implement the strategies in the book (for example, there are many references to comparison websites).
The author expects that most readers will identify a small number of strategies, perhaps between one and five, that they may decide to implement, but that even though the number of strategies may be small, they will confer significant financial benefit, especially over the longer term.
The author lives in Roseville, Sydney. He is a recently retired actuary whose career commenced in the Office of the Australian Government Actuary (7 years) but who worked mainly in reinsurance for a total of about 30 years (in Appointed Actuary roles for Munich Reinsurance, and later, Swiss Reinsurance). He also worked for briefer periods with MLC Life and in the Commonwealth Banks Comminsure general insurance operation.
He has long had an interest in personal financial planning and is currently an active member of the Actuaries Institutes Retirement Incomes Working Group.
His academic qualifications include Bachelor of Science (Hons) and Bachelor of Economics from the ANU and an MBA from Macquarie University. He is also a Fellow of the Actuaries Institute, a Fellow of the Financial Services Institute, and a CPA. He won numerous school and university prizes and scholarships and twice won the Parker Prize from the Actuaries Institute for the best paper presented to the Institute in the year.
He would love his book to be a resource that helps thousands of Australians to identify ways of improving their financial strategies and achieving their financial goals.
* Clear explanation of critical personal financial strategies
* Most readers will find between one and five strategies which will make a real difference for them
* Each strategy may yield hundreds or thousands of dollars impact in a year and tens or hundreds of thousands in the longer term
* Written by an actuary - actuaries are experts in compound interest and financial projections
* Hundreds of footnotes direct readers to online resources to help understand and implement strategies
* Acclaimed for comprehensive research
* Ideally suited to readers who are somewhat engaged with their personal finances
* The thinking persons "Barefoot Investor"