What did you wish you had started do­ing sooner when it comes to money?

Money Magazine Australia - - OUR EXPERTS -

DALE GILL­HAM

Dale Gill­ham is chief an­a­lyst at Wealth Within. Dale says: “This is pretty much a no-brainer for me, as it is not how much money you get, it is what you do with it that counts. So for me it is in­vest­ing sooner in the mar­kets and in my knowl­edge.”

VITA PALESTRANT

Former ed­i­tor of the Money sec­tion of The Syd­ney Morn­ing Her­ald and The Age, Vita says: “Hav­ing a mort­gage and kids makes you care­ful with money. You treat ‘spe­cials’ as if they were a taran­tula: 28% off en­ergy, zero-in­ter­est credit cards, dis­count in­sur­ance, etc. But it’s bet­ter to check the down­side and do the sums.”

NERIDA COLE

Nerida Cole is head of ad­vice, Dixon Ad­vi­sory. Nerida says: “In my early 20s I’d been a bit in­tim­i­dated by shares. As I grad­u­ally worked through each stage – re­search­ing, buy­ing, see­ing the div­i­dends rein­vested and ac­count grow – I got more con­fi­dent and re­alised I could do this and should have started ear­lier.”

SU­SAN HELY

Su­san has been a se­nior writer at Money for more than 10 years. Su­san says: “I like to keep my fi­nances fairly sim­ple. Buy­ing an in­vest­ment prop­erty sounded tricky: an ex­tra mort­gage, main­te­nance costs, find­ing good ten­ants, etc. It never ap­pealed but – with the ben­e­fit of hind­sight – I missed out on the break­neck boom.”

TERRY RY­DER

Terry is the founder of hotspot­ting.com.au and au­thor of four real es­tate books. Terry says: “I wish I’d un­der­stood ear­lier the im­por­tance of ac­cu­mu­lat­ing real es­tate as­sets, rather than trad­ing them. The first house I bought in Bris­bane cost $50,000 – I sold for a strong cap­i­tal gain, but to­day the prop­erty would be worth over $1 mil­lion.”

ROD­NEY HORIN

Rod­ney is an aged care con­sul­tant at Joseph Palmer & Sons (Vic). Rod says: “I should have started putting away su­per con­tri­bu­tions ear­lier. It’s only now, at age 60, with hind­sight and un­der­stand­ing of the power of com­pound­ing in­ter­est, that I re­alise how much cap­i­tal is re­quired to sus­tain a life­style in re­tire­ment.”

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