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Friends With Money #203: Are you recession-ready?
Market jitters got you worried? Money founder Paul Clitheroe is our special guest on this week's episode of the Friends With Money podcast.
Ask Paul: My home was repossessed eight years ago
Eight years after his bank repossessed his house, Nicholas is saving $250 a week towards buying a new one. Should he invest his deposit?
Ask Paul: I’m 16, is this the best way to invest?
At 16, Nathan already ticks "every single goal that makes a person financially literate", writes Paul Clitheroe.
Ask Paul: Should I buy an investment property or a home?
"Any advice on how I could get my foot into the property market as an investor?" Lucille asks Paul Clitheroe. "Or should I aim to purchase my own place as an owner-occupier?"
Ask Paul: Can I help with my child’s house deposit over wedding?
"I would rather see them put the money into a home deposit. I think the security of their own home should take precedence over a big, flashy day," Frances tells Paul Clitheroe.
Ask Paul: I want to invest in annuities but should I trust them?
Harriet is worried about outliving her superannuation in retirement, she tells Paul Clitheroe, but are lifetime annuities the answer?
Ask Paul: Can I give away $400k and still get the pension?
With no super, Peter wants to "lend" his children $400,000 and have them repay it slowly as an "unofficial income" in order to claim the age pension.
Ask Paul: Can I manage my own retirement?
Does Helen need a financial planner to manage her retirement money, she asks Paul Clitheroe, or is this something she can do herself?
Ask Paul: Should we sell our investment properties?
"After fees and costs, together they return about $16,000 a year, where interest would potentially return more without the headache of tenants and repairs," Karen tells Paul Clitheroe.
Ask Paul: Can we afford to have a baby?
"My husband and I have been married for five years and want to start a family ... but I still can't escape the fear that we just don't have enough money to have a baby."