Hey team,
Happy Monday.
This week has been a big one for Pivot, with us celebrating our sixth birthday. When this time of the year rolls around I find myself reflecting on the year that has been and what we have coming up.
To say the last six years have been a whirlwind would be a drastic understatement, it’s been a life-changing journey that’s challenged me on every possible level. The last year, in particular, has been pretty wild bouncing out of COVID but has seen us help 5 times the number of new clients as last year, and our team grow over 300% from 5 to 17 today, all through the raging pandemic where there were times we were forced to ask big questions around WTactualF we were doing…
Firstly I want to say a massive thank you to our amazing clients for trusting us to help them achieve their most important money goals to drive the lifestyle they want for themselves and their families. It’s a privilege we don’t take lightly, and we look forward to building on the relationships we’ve built to help you all create a life not limited by money.
And I have to say that none of this would have been possible without our amazing team, and a special shout out to my sidekick and supermum the amazing Yang Nash and the special group of human beings that make up team Pivot Wealth OR without our epic extended support team of coaches and partners that have been there every step of the way – massive love to you all.
I’m pumped to see what the next year has in store for us and thank you all for being part of our journey.
Giving update of the week
This week as part of our sixth birthday celebrations we wanted to create 60,000 positive impacts around the world as part of our partnership with Buy 1 Give 1. We discounted our 45 minute 1-on-1 ‘Money Breakthrough’ sessions and through the month of August will be giving all the money raised through these sessions to people in need around the world. I’m extremely PUMPED to say we’ve been blown away by the results, with the people getting behind this cause have helped us provide over 75,000 days of access to clean, safe water to families in Cambodia SMASHING OUR MONTHLY GIVING GOAL IN LESS THAN A WEEK WHOOOOOOOOOOTTTTT 
I want to say a MASSIVE THANK YOU to the peeps that have got behind our cause, taking the opportunity to up their money game and do some good on the planet at the same time. I’m now keen to see how far we can push this, so would love you to get behind this worthy cause here.
Upcoming events:
Our Cryptocurrency Investing 101 event is next week. These sessions will help you learn more about cryptocurrency, how to invest smarter, money mistakes and a healthy dose of tips, tricks and hacks to help you take the smartest next step with your money.
Event schedule and links to book here:
Cryptocurrency Investing 101 – Thursday 12th August 11:30 am -12:30 pm AEST
Make More Money: Personal Investing 101 – Thursday 2nd September 11:30 am – 12:30 pm AEST
Finding the right investment for you – Thursday 16th September 11:30 am – 12:30 pm AEST
How to be smarter with money – Thursday 14th October 11:30 am – 12:30 pm AEST
Avoid key money mistakes – Thursday 4th November 11:30 am – 12:30 pm AEST
Money Hack of the week: How To Start Ethical Investing on the ASX
Finding investment options that align with your values can be tricky, especially if you’re thinking in terms of ‘right’ and ‘wrong’. Instead, you need to think of the pros and cons. I sat down with Rory Cunningham from the ASX to discuss decision making when choosing responsible investment products and the ASX education resources. Check out our full chat here.
Share market wrap
The ASX opened down this week after a soft US market close last Friday. However, it quickly bounced back by Thursday with a record close. The biggest winners on Friday were mining stocks Evolution and Nickel mines after some takeover announcements and one of the biggest losers were Crown after The Star Entertainment Group withdrew its merger announcement.
Key sharemarket numbers:
- The ASX ‘All Ords’ (top 500 shares in Australia) finished the week 1.2% higher than last Friday, on 7,790.70 points.
- The US ‘S&P 500’ (Top 500 shares in America) finished the week 0.77% higher than last week (Friday AEDT), at 4,429.10 points.
- The US ‘Nasdaq’ (Top 2500+ mainly tech shares in America) finished the week 1.9005% higher than last week (Friday AEDT), on 14,895.12 points.
- The Global FTSE ‘All World’ index (largest 3100 companies in the world) finished the week 0.58% lower than last week (Friday AEDT), at 7,120.43%
- The S&P Cryptocurrency ‘Mega Cap’ Index (tracking market value of Bitcoin and Ethereum) is currently at 6.64% for the month, up 4384.79% from last week
Investment story of the week: Nick Scali Ltd (ASX: NCK)
With consumers sitting in with lockdowns and redirecting their travel and restaurant budgets into furniture, homewares and appliances, this has seen retail stocks booming across the last 12 months. Last Thursday, Nick Scali Ltd announced a net profit of $84.2mil which was double the previous year and exceeded its guidance only issued 3 months ago. At the time of writing this, the stock is up almost 60% across the last 12 months.
Money mistake of the week: How FOMO can sabotage your money progress
You don’t know what you don’t know. Before Pivot, Olivia and Sean were back to work after having kids, tracking along with their savings and not doing too much else with their finances. That’s when they realised they could be missing out on opportunities to maximise their money. I chatted with Olivia and Sean about what made them realise they needed expert help. Check out our full chat here.
Jargon Buster of the Week: BID/ASK (via Morgan Stanley)
A pair of prices, where “bid” is the price at which a trader is prepared to buy and “ask” is the price at which the trader is prepared to sell the security (note that “ask” is sometimes referred to as “offer”).
Podcast from last week: #126 w. Lynne Cazaly – “Making sense of uncertainty when it comes to your finances”
In this episode, I chat with Lynne Cazaly. Lynne is a prolific writer, speaker, award-winning author, and communications team expert. Lynne tells me about the nine books that she’s written. We unpack the latest one, which is all about how to cut through overwhelm and we talk about how you can apply that to your money and compartmentalize overwhelm, cut through that, and make better decisions. We also talked about how Lynn has tackled her money journey and some of the lessons that she’s learned along the way. Lynne Cazaly helps individuals, teams, and businesses transition to better ways of thinking and working.
Lynne is an international keynote speaker, multi-award-winning author, and master facilitator. She is the author of 8 books and her latest one is ‘Argh! Too Much Information, Not Enough Brain – A Practical Guide to Outsmarting Overwhelm’
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Smart Money upside #29
Because people don’t often talk about the full ins and outs of their money, it’s hard to learn lessons from hearing what good and bad choices other people make. This story from one of our clients to help you take your money game to the next level.
Numbers/Background
Individual, late 20’s; ; household income ~ 90k; total assets ~ $970k; ~ savings ~ $3k annually
Frustrations
Holding a huge amount of cash from an inheritance, with a low rate of return.
What they wanted from us / the advice process
Passive income, growth from investments and capital growth for the long term.
What success looks like for them
Wealth creation and diversification, with a view to creating a substantial asset position.
What money strategy they were following before we went through the planning process
Building cash alone
What money strategy they chose to pursue from our planning work
Property as an investment; large index investment (exchange traded fund); banking structure and set up; review of superannuation etc.
Key benefits of going through the process
Understanding, clarity, a plan they can achieve and pursue.
Value of advice after all advice fees year one: $8,996
Year 20 upside after advice fees: $1,719,433
If this story resonates and you want to chat about how to get these sorts of results, you can book an intro call here.
Be awesome,
Ben
PS: If you want a hand to get on the front foot with your money in 2021, check out our 45-minute one-on-one sessions here. We’re donating 100% of the money raised to charity, so you can up your money game and do something good on the planet at the same time.
Disclaimer:
I know you’re smarter than someone that would need me to write the words that come next, but our compliance peeps are real hard-asses so here we go… This information is not personal advice, poetry, or a map to where Jimmy Hoffa is buried. It may only be regarded as general advice, and definitely shouldn’t be considered something worthy of inclusion for Donna Hay’s next cookbook or the Archibald prize. This is actually just an email communication that has been sent to a bunch of people and doesn’t even have your name on it. Your personal objectives, needs or financial situation have not been considered when preparing this email, but I want you to know that I have spent a lot of time thinking about the Venn diagram intersection of poetry, landscaping, and essential oils – if you’re fascinated by this same phenomenon please reply so we can compare notes. You should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs, and if necessary, seek advice before acting on it. You should also consider other people when getting on and off public transport, smiling more, eating healthy, and listening to your mum when she tells you that you’ve been working too hard. Where the information relates to a financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product. Where the information relates to a hilarious joke I’ve made, you should consider belly laughing deeply. Worth noting also that past performance is not a reliable indicator of future performance when it comes to investments, and definitely not when it comes to the Wallabies. Financial services guide. All jokes aside and just to be clear, this information may only be regarded as general advice. That is, your personal objectives, needs or financial situations were not considered when preparing it. You should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs, and if necessary, seek advice before acting on it. Where the information relates to a financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product. Past performance is not a reliable indicator of future performance.