It looks like the reduction in the cash rate down to 0.75% hasn’t been the kick starter that the Australian Federal government was hoping for. There’s more talk of printing money and the Treasurer is nervous about the economic data because it looks like the predicted surplus may not eventuate (oops). So, he is asking the states to try and bring some infrastructure spending forward (like building highways, roads and rail lines), to boost employment and spur consumer demand for goods and services – we won’t mention the word stimulus.
We’ve already tried the sugar hit of tax refunds. Remember how some of us received a tax refund because the federal government increased the low and middle-income tax offset from $580 to $1080? You got the maximum amount if you earnt $48,000 in 2019 but lesser amounts as your income increased. If you’re fortunate enough to be earning more than $126,000 you don’t get a rebate or even a thank you card for the tax you pay!
In short, the Australian government is facing the same challenges that governments the world over are facing – How to crank the economy up a notch, get business investing, people employed and consumers spending. Several things are complicating the challenge like the drought, lack of a proper national energy policy, the US-China trade war, flip-flop US international policy in the Middle East and climate change to name a few. If governments are finding it challenging what about investors? How do we block out the noise, obtain the correct advice and invest so that we keep our noses in front financially?
If you simply want the best superannuation fund, you can shop around using sites like Canstar for a fund that will yield good returns over the long term. Exchange Traded Funds (ETFs) that reflect various industry sectors (e.g real estate investment trusts, or stock market indices -ASX 200) spread risk and provide you with a one-stop shop approach to investing. There are plenty of advisory firms (shares and real estate) that have good track records and community focused investor groups like the Barefoot Investor, which can provide members with unbiased independent advice.
But if you are looking for that edge in today’s market you need to consider Argyle Pink diamonds. They are a unique, tangible asset that has stood the test of time by outperforming other asset classes over the last 15 years. Argyle pinks have one distinct advantage over their competitors – their rarity. This fact, matched with low price volatility continues to ensure an enviable capital growth rate, that will only increase in the years after the Argyle Diamond mine closes. Make the call and speak with an Argyle Diamond Investment consultant today – we have a range of investment options to suit all budgets.