I only read non-fiction.
This wasn’t always true. I remember being a fan of Stephen King but the last book of his that I read was Four Past Midnight, which was published in 1990 when I was still a teenager – just.
Since then, I have read countless books, and I’m always looking for a new one that can satisfy my curiosity and love of learning.
One such book that I have been enjoying recently is Don’t Trust Your Gut by Seth Stephens Davidowitz.
For our business, where one of the six core values is “Follow the Evidence”, which applies to everything we do, particularly how we advise and invest, this book title appealed to me. It hasn’t disappointed.
There is a lot to like in this book, and here is just one snippet that I wanted to share.
The Easterlin Paradox, first proposed by economist Richard Easterlin in 1974, explores the relationship between income and happiness. While individuals with higher incomes report greater happiness within a society, average happiness does not increase significantly as a society’s income grows over time.
But the real insight is in the recommendations that flow from this.
These are:
- Reduce social comparison by limiting exposure to social media that amplifies income or lifestyle disparities. Instead, focus on personal growth and intrinsic goals rather than external validation;
- Set meaningful goals by aligning career and financial ambitions with personal values and life satisfaction rather than societal benchmarks; and
- Invest in relationships by prioritising time with family, friends, and community over excessive work or material pursuits.
There are no real revelations here and nothing you won’t have heard before, but as we approach the Christmas holiday period, perhaps there will be a little more time to reflect and “Follow the Evidence” that leads to a fulfilling life.
Rob Pyne
Global Events and Market Returns: A Reflection Since 2020
Since January 1, 2020, the world has faced an extraordinary series of economic and geopolitical challenges that have tested global resilience. Despite the gravity of these events, the MSCI All Country World Index has delivered a significant return, climbing to over 1.6 times its initial value. This strong performance stands in sharp contrast to the bleak headlines of the past few years. It highlights the capacity of global equity markets to weather storms and capitalise on long-term growth drivers, even amid widespread turmoil.
Opportunity before 5th April 2025 – UK State Pension voluntary contributions
The UK New State Pension is a regular payment from the UK government that people can claim after reaching a certain age and paying enough National Insurance (NI) contributions.
While working in the UK, NICs are normally paid by your employer. But you don’t have to have worked in the UK for 10 years. You may be eligible to make voluntary contributions to top up gaps in your NI history so that you are entitled to a UK part-pension.
Normally, you can only fill gaps in the past 6 years, but there is currently a window of opportunity where you can fill up to 16 years. This opportunity closes in April 2025 and reverts back to the standard 6 years after that.
Case Study: Reducing a $300k tax bill to $0
In May 2024, a couple of entrepreneurial clients (let’s call them Jen and Jerry) approached us to help develop a strategy to best utilise the proceeds from the recent sale of their business.
Their business journey had been an incredible ride, but they were facing a significant hurdle—a looming tax bill exceeding $300,000 as a result of selling their business.
Find out how we helped them here.
Trump 2.0: What we can expect
The results of the recent US election have brought with them many queries about what Donald Trump’s second Presidency will mean for world markets. As always, it’s impossible to predict these things. But AMP Economist Shane Oliver’s summary is as good a reflection as any we’ve seen.
Meet the team: Nicola Hynes
Nicola Hynes thought the health profession would be a natural fit for her as she always liked helping people. She thought working inside an office environment wouldn’t be an ideal fit, because she also likes a good chat! But an interest in personal finance led her to reach out and chat with some financial planners, which led Nicola to realise that this was a profession in which she could genuinely help people and make a positive impact on their lives. While Nicola’s love of a good chat hasn’t gone away, it doesn’t affect the amazing impact she also has here in the HPH office. She’s now a qualified and registered financial adviser and currently working as a Senior Associate. And is a great teammate too!
Find out more about Nicola here.