Meredith Ward with her family. Picture: Adam Armstrong Source: National Features
MEREDITH Ward, a financial planner with QT Financial Planning, says her main investment goal is to be able to send her children to a private school.
Q: What was your first investment and how did it go?
A: It was great. I had a managed fund for no fixed goal and ended up having a decent deposit for my first house.
Q: What is your favourite type of investment and why?
A: I have done all three shares, property, cash and made money in all three, but I prefer cash for a buffer and shares because it is liquid. For me, property is a lot of responsibility and a drain on cash flow.
Q: What is the best investment advice you have received and who was it from?
A: Believe it or not, Paul Clitheroe's advice to save at least 10 per cent of your income.
Q: How do you approach investment risk?
A: It depends on the goal. Short term cash all the way. I like to make sure that I can survive, then I will invest for the longer term on things such as cars, houses, kids' education. I'm not a high-risk person.
Q: What has been your best-performing investment?
A: My own home, bought at a low and sold at the right time, which gave me a bigger deposit for the next home. It is not really an investment but it gave me the biggest tax-free gain. After that, it is my managed funds and regularly putting money away into them.
Q: And the worst?
A: An investment property bad tenants who did not care for the place coupled with the fact that, when I changed careers, I had to sell my property because I did not have the income to maintain the expenses.
Q: How would you invest $25,000 if you were given it tomorrow?
A: Put it against the home loan. You can't beat the interest rate.
Q: How do you feel about investing overseas?
A: International shares are good. There are lots of opportunities outside Australia.
Q: How well do you treat your credit card?
A: I put everything on it and pay it off at the end of the month.
Q: How do you feel about life and disability insurance?
A: Essential. I have two kids under three and if I could not work or died, I would hate to see their opportunities disappear.
Q: What's your most extravagant purchase?
A: The big items such as houses are well thought out and are not extravagant. I have, on occasions, been known to go on a shopping spree and buy five dresses and three pairs of shoes in one hit.
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