It’s your money: Kohler in town with some sage financial advice
THOSE of a certain vintage will recall the phrase “It’s your money Ralph” from the 1980s television ad campaign for the former State Bank of Victoria. The sentiment remains relevant with many of us needing the occasional prod to make sure our finances are protected and growing.
Unfortunately, this important priority often gets put in the too-hard basket because of the complexity of information and options.
Enter Alan Kohler – one of Australia’s most trusted financial experts – with his new book It’s your money: how banking went rogue, where it is now and how to protect and grow your money.
Alan demystifies the financial services sector and offers his advice on assessing your financial plans, growing your super and finding ethical investments. His new book is a comprehensive guide that will help you take control and make the most of your money. Alan also helps to unpack the findings of the Financial Services Royal Commission and what it means.
He helps us to feel more confident as we wonder who and what institutions we can trust, in an industry facing a massive trust-deficit.
Alan Kohler is the editor-in-chief of InvestSMART Group, business editor-at-large of The Australian, finance presenter on ABC News, and adjunct professor in the business faculty of Victoria University.
He is known for his advocacy demanding fairer fees, greater transparency and stronger investor protection.
Alan will appear as a guest of the City of Greater Geelong for The City Presents: It’s Your Money – breakfast with Alan Kohler, on Monday August 19 from 7am to 9am at the Geelong Events Centre, Rydges Geelong. Bookings via the website at geelongaustrali.com.au.
Five quick questions with Alan Kohler
1. What gets you out of bed each morning?
The alarm, then curiosity. The world is endlessly fascinating – I’m dying to see what’s going to happen today.
2. What book are your reading at the moment?
Brave New World for book club, and A History of Philosophy to get me to sleep.
3. Can banks regain our trust?
Yes, but it will take a while. There’s also a difference between trust in banks in general, and trust in our own bank. We usually trust our own bank, but don’t trust the industry.
4. Will our children ever afford their own homes?
Yes, but it’s harder and it’s going to be a manifestation of inequality, both generational and social, for a long time.
5. Have we forgotten the art of saving?
Well, we all save 9.5 per cent of our salary through compulsory super. I think that’s tended to replace non-super saving, so we think we’re not saving, but we are, and at least it’s something.