Latest news with #financialfuture
News.com.au
6 hours ago
- Business
- News.com.au
‘Death of the middle class': Tradie's drastic action to get ahead financially
Sam Harper was earning $90,000 a year when he decided he needed to do something drastic to secure his financial future, believing the 'death of the middle class' was looming. Mr Harper, 27, was working as an electrician in Perth when he became sick of earning just enough to be able to pay his mortgage and weekly expenses. 'My partner and I both had a mortgage of like $480,000 and, once you paid for that, and your groceries and living expenses, yeah, you can live comfortably, but there are no overseas trips,' he told Mr Harper had always worked hard. He'd learned a trade and slogged it out as an electrician, but he didn't feel like he was getting ahead. 'We are going down that path (where there is going to be) the death of the middle class because the gap is getting bigger between the rich and poor,' he said. 'The way I look at it is, that is out of my control, so you have to start looking at different ways to get ahead. 'At some point last year I had this realisation that no one is coming to save me.' The only time he'd really made a big amount of money was from the sale of a duplex he bought when he was 22 years old and during the pandemic. 'I got lucky buying a duplex in Victoria, and it felt like a lot of money back then, but I paid like $270,000, which is absolutely nothing,' he said. 'I sold it 18 months later and I definitely got market growth for that one. It sold for $400,000.' The young Aussie was stoked with the sale and the profit he made from it, but he wasn't real estate savvy and viewed it as a one-off than a way to continually make money. 'I was pretty stupid back then,' he said. 'I thought it was great but it wasn't until later down the line that I started looking at real estate a bit more.' Alongside his partner, and with the profits from the sale of his Victoria property, Mr Harper purchased a home in Perth in late 2024 for $520,000. The plan back then was to get some equity into the property, use that equity to buy an investment property, and eventually amass a real estate portfolio. It wasn't a bad plan, but the electrician realised that he would have to cover multiple mortgages, even if he rented them out. 'I realised I'd be stuck in my job and in more and more debt and I didn't really like the job' he explained. Around this time, he had his primary property revalued after spending around $30,000 in renovations. To his delight, the property was reappraised at $700,000. 'I was surprised by the $700,000. I thought mid $600,000. It was definitely life-changing,' he said. The tradie had been able to save money because he was able to do a lot of the renovations himself, using his skills as sparky and watching YouTube tutorials for the parts he wasn't as sure about. That staggering evaluation made Mr Harper realise house flipping was a really simple and clear way to make money. Ultimately, he decided not to sell that property, with the couple instead refinancing and then flipping another home shortly afterwards. He struck a deal with a homeowner where he renovated the property and then they agreed to share some of the profits. 'If it sold above $530,000, we'd split the profits, and it sold for $610,000,' he said. The young tradie pocketed $98,000 from that sale, which gave him the confidence to start buying properties to flip. In the past 12 months, the 27-year-old has purchased two separate properties in Perth. From the first, he made $85,000 in pure profit, and from the second, he made $125,000. 'It is a lot more than I was getting paid as a sparky,' he pointed out. Mr Harper is pragmatic about his success. Yes, a lot of money is coming in, but he also needs to use that money to keep house flipping. 'It is the type of business where, once you get the money, you reinvest it back in,' he said. That doesn't mean he has quite gotten used to seeing over six-figures pour into his savings account. 'Once the money hits the account, it is still pretty crazy,' he said. 'We definitely have a long way to go, but looking back to where we were 12 months ago is pretty surreal.' Financial planner Alex Jamieson told that Australia's wealth gap is widening. 'The middle class used to buy from a purchasing power perspective in today's standards is no longer anywhere close to the purchasing power,' he said. Mr Jamieson argued that 'if you don't own a house', you're unfortunately missing out on amassing wealth. The problem being that it is becoming increasingly difficult for Aussies to break into the market. The financial planner argued that the middle class is having a tougher time these days due to the cost of living. 'Historically, one income was able to achieve a lot more in purchasing power than what the combined income of today can achieve for a couple,' he said.
Bloomberg
7 hours ago
- Business
- Bloomberg
Generali Offers a Perfect Venue to Fight for Europe's Financial Future
It's no exaggeration to say that what happens at Assicurazioni Generali SpA in the next few months will determine the financial and political map of Italy for years to come – and exert a strong pull on the strategic direction of Europe as a whole. The country's biggest insurer is the key domino in a matrix of banking deals: Which way it falls will affect most of the other proposed alliances. Generali's hometown of Trieste in the northeast corner of Italy is the perfect setting for a decision around which a constellation of corporate deals will turn. This glorious and strange city's patchwork past echoes the fluid history of European nations – it's been Austrian, Napoleonic and Balkan, as well as Italian. The next step for the insurer could leave it chained to a fractious past, or open up a bigger, more European future.
Khaleej Times
3 days ago
- Business
- Khaleej Times
To make money with crypto, you may need to fire the experts
I had a meeting with a financial adviser sometime in my early 40s , the trauma of which still lives in my body. I was living in the UAE, working hard, making decent money, and ready to get serious about my financial future. I walked into the meeting completely unsuspecting and she didn't waste time. She drew a mountain on a piece of paper and placed a little stick figure — my sad little financial avatar — only halfway up the side. 'This is where you are now,' she said. 'And, if you don't start investing much, much more, this is where you'll be.' Then she drew the rest of the scenario: a steep cliff face, the sad little stick figure barely clinging to the side. I left the meeting and sat in my car and cried. I felt so frustrated and confused. How could someone in their early 40s with no debt and a good salary be in this kind of doomsday scenario? Looking back, I can see I wasn't hopeless — I was manipulated. These kinds of financial 'wake-up calls' are designed not to inform or empower, but to shame, scare, and sell. And this one did lasting damage. The financial confusion and manipulation I faced when I arrived in the UAE changed my behaviour for years. That's why I want to talk about something I've only recently come to understand, which has helped me take my power back. It's called 'low time preference'. The financial confusion and manipulation I faced when I arrived in the UAE changed my behaviour for years" Low time preference is a term from economics and behavioural psychology that refers to a person's ability to delay gratification and prioritise long-term rewards over short-term pleasures. Someone with low time preference is more likely to invest, save, and plan ahead rather than spend impulsively or chase instant rewards. The concept originates in Austrian economics, particularly in the work of Ludwig von Mises and Hans-Hermann Hoppe. I first read about it in the Saifedean Ammous 2018 book The Bitcoin Standard. Before moving to the UAE, I was a regular investor. In Canada, I opened a registered retirement savings plan as soon as I started working at 26. I invested every time I got paid and upped the amount when I got a raise. I was far from perfect and bought a lot of useless things. I got in credit card debt at one point, but I also managed to get out with the help of a second job. As I've written about earlier, I struggled with life-long money fears. When I arrived in the UAE, with no financial plan for my expat life other than being scared that I would mess up the opportunity, I was a very easy mark. That's when the slick financial advisers I engaged, the ones introduced by my workplace, tried to sell me investment products that required 15-year commitments and huge monthly payments. If I ever moved back to Canada, and I was always sure I would be doing that soon, I knew I'd struggle to keep up. So, I said no — again and again, and each time, I got the same amount of shame that I did from the stick-figure artist. The advisers kept saying if I wouldn't do the regular plans, I needed $10,000 (Dh36,729) minimum to invest. I kept telling myself I'd save up, and sometimes I would. But then, I wouldn't. It was a vicious circle that went on for years and because of it I missed the wonder of compounding interest for far too long. It's a small consolation that those products were later revealed to be predatory at worst and poorly structured at best, with up-front fees that people were usually not made aware of. I have heard of people who got through the 15 years, with some regret, and others who couldn't keep up the payments and lost almost everything. As for me, it's clear now that during the move overseas I lost my savings rhythm. Like many people, I also got caught up somewhat in the brunches and the bags – the opposite of low time preference. I could be much farther ahead were things different. And that is one of my deeper regrets. It wasn't until much later that I realised: the entire time, all I needed to do to save regularly again was to open my own investment account. Getting rid of all outside financial 'advisers', facing, and processing my money fears head-on, and figuring out personal finance for myself has helped build hard-won low time preference for me. Being able to invest regularly in Bitcoin without needing a third party has definitely helped. Doing this gives me more peace and clarity than anything I've done financially in years. Now, I don't want to spend on clothes or expensive meals — I want to invest. Bitcoin, with its sound structure and long-term potential, has helped me rediscover the discipline I had before I moved here. I wish I could turn back time – but I'm also of the opinion that it's never too late. That stick figure is not clinging to the edge anymore. She's on the move now, climbing slowly, steadily, and one forward-looking step at a time.
Malay Mail
3 days ago
- Business
- Malay Mail
A Decade of Excellence: Huatai Securities Celebrates H-Share Anniversary
Huatai Securities has continuously expanded its international presence since its H-share listing a decade ago. Over the past ten years, Huatai Securities has facilitated nearly 600 domestic and international financing deals for enterprises globally, with a total fundraising volume of approximately USD 280 billion. [1] Source: Dealogic data. HONG KONG SAR - Media OutReach Newswire - 30 May 2025 - As Huatai Securities approaches the 10th anniversary of its H-share listing, the Company recently hosted a forum in Hong Kong themed "Technology Reshaping Hong Kong's Financial Future," underscoring its commitment to expanding its international presence by fostering innovation and collaboration in Hong Kong and event convened guests from the government, academia, business partners, and the investment community to explore strategic pathways for Chinese enterprises to leverage Hong Kong in the restructuring of global industrial chains., delivered the opening remarks at the forum, stating: "Over the past decade, Hong Kong's capital market has continuously advanced through reforms, significantly enhancing its role in connecting the Mainland and the world. Amidst rapid global changes, China's innovative technology sector and its emerging enterprise value are creating new development opportunities for Hong Kong's financial market. Chinese financial institutions are key to this progress, and the SAR government anticipates collaborative efforts to accelerate our capital markets' development.", emphasized the importance of Hong Kong as the Mainland's preferred offshore financing destination: "In the past decade, Hong Kong has raised over USD 300 billion in IPOs, primarily driven by Chinese enterprises. With technological innovation increasingly shaping our capital market, Hong Kong continues to provide vital financing channels for the global expansion of outstanding Chinese tech companies through ongoing institutional innovation."Over the past decade, Hong Kong has solidified its position as a leading financial hub, achieving HKD 2.2 trillion in IPO fundraising and ranking first globally on four occasions. As the IPO market regains its status as the second-largest globally in 2025, the increasing interest of Chinese technology companies in international capital reflects a broader transformation within Hong Kong's financial this dynamic environment, Huatai Securities has emerged as one of the main participants in Hong Kong's capital markets. Since the Company's H-Share listing, Huatai has facilitated nearly 600 financing deals, amassing a total fundraising volume of approximately USD 280 billion. Since 2022, the Company has sponsored 29 IPOs in Hong Kong, ranking second among all market participants. In the first five months of 2025 alone, the Company sponsored 6 IPOs, maintaining its second-place ranking.[1] Its international footprint extends beyond Hong Kong, with operations in the United States, a GDR listing on the London Stock Exchange, and a licensed subsidiary in Singapore., remarked: "Hong Kong's strengths as an international financial center have been instrumental in helping Chinese enterprises, including Huatai Securities, grow and succeed globally over the past decade. Our focus on client service, innovation, technology, and international expansion has driven our transformation into a global firm. Looking forward, we will continue to partner with domestic and international players to explore new opportunities and create mutual value."The forum also featured insights from, who shared key achievements from his decade-long efforts to integrate industry, academia, and research. Entrepreneurs from sectors including biopharmaceuticals, consumption, and autonomous driving gathered to discuss how industrial trends and technology shifts are reshaping global strategies and competitiveness for #Huatai #HuataiSecurities The issuer is solely responsible for the content of this announcement. About Huatai Securities Incorporated in April 1991, Huatai Securities is a leading technology-driven securities group in China, with a highly collaborative business model, a cutting-edge digital platform and an extensive and engaging customer base. It provides comprehensive financial services to individual and institutional clients, including wealth management, investment banking, sales and trading, investment management, among others, with a substantial international presence.
CNN
21-05-2025
- Business
- CNN
Expert: 3 finance mistakes women are more likely to make in their lifetime
Did you know that women couldn't have their own credit cards until 1974? Haley Sacks, known as 'Mrs. Dow Jones' and the creator of The Money Book 2.0, shares the three ways women can secure their financial future.
