Your Wealth

A great company in a great market doesn’t always present a great investment opportunity; the value of a stock is often determined by how much you pay for it. As Morningstar’s equity expert Adam Fleck explains, valuations can vary dramatically with sentiment, market movements and changes in sector and company fundamentals. ----more---- In our latest episode of Your Wealth, Gemma Dale interviews Adam about the companies Morningstar favours in the Australian market, and his thoughts on: Several overlooked companies that Morningstar currently recommends, Which sectors represent good value in the current market, The Big Australian companies he’s avoiding right now, Why he thinks the global market is over-valued, and How Morningstar undertakes both quantitative and qualitative research, including methods you can also apply. As a nabtrade investor, you have complimentary access to Morningstar quantitative research on over 180 Australian companies. If you are not a nabtrade customer and you’d like to access this research, join now. You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean or at nabtrade.com.au/yourwealth.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au

With capital city house prices having doubled in the last five years, many parents despair of their children ever being able to afford their first home, and wonder if they should be reaching into their own pockets to help. According to Digital Finance Analytics, the ‘Bank of Mum and Dad’ is providing up to $85,000 each to nearly 56% of first home buyers, and most of those buyers are already in their thirties1. ----more---- In our latest episode of Your Wealth, Gemma Dale interviews popular guest Katie Whiffen about how to tackle this critical issue: How to determine if you can really afford to help your kids Cash-free ways of helping your kids save for their first home Which strategies of helping are fraught with danger How to deal with complex family structures, and How to structure your affairs so you and your kids can live happily ever after You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean or at nabtrade.com.au/yourwealth. 1 Digital Finance Analytics, 2 May 2018 (quoted in AFR and Domain.com.au) The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au

Treasurer Scott Morrison’s third budget features personal tax cuts as one of the Government’s core measures. Gemma Dale, discusses the key takeaways from the Budget announcement and specifically takes a deep dive into the proposed changes to the taxation, superannuation and pension systems. ----more----  Any advice and information in this publication is of a general nature only. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of an individual’s liabilities, obligations or claim entitlements that arises, or could arise, under taxation law, and we recommend that you consult a registered tax agent. nabtrade is not a registered tax agent.©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514. The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au

What do French trams, the Bank of Internet and a Pakinstani cement company have in common? They’ve all found their way into the global equity portfolios managed by Morphic Asset Management’s Jack Lowenstein. Morphic’s portfolios are global, ethically screened and allow for shorting, representing an expansive view of the world’s current investment opportunities. ----more---- In our latest episode of Your Wealth, Gemma Dale interviews Jack about his current favourite stocks and his thoughts on: Why an ethical screen makes good investment sense, and how to apply your own Why he avoids the big names in technology, such as Apple and Google Which strategies he recommends investors ‘don’t try at home’ Why he believes sharing his investment tips is a social responsibility, Where he sees the most value in markets right now… and much more. Access this and previous episodes now on iTunes, Podbean or at nabtrade.com.au/yourwealth.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au ©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

After five years of unprecedented growth in house prices in some of Australia’s largest cities, many investors are more exposed to residential property values than ever before. Others who may be looking to buy a first home or investment property are hopeful price growth has moderated. ----more---- In our latest podcast, NAB Chief Economist Alan Oster discusses the key takeaways from the latest NAB Residential Property Survey report, which condenses the views of hundreds of property experts from around the country. In this episode, Alan covers: Both positive and negative sentiment in the current housing market The likely composition of new property buyers over the next year The outlook for house and apartment prices, and rents across major cities Potential implications of proposed policy changes by Labor on domestic house prices, and ‘Black swan’ events that could rock the sector. To download the latest NAB Residential Property Survey report, click here. You can access more of NAB’s economic insights on this page.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au ©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

In part 1 of this must-listen podcast, renowned finance expert Paul Clitheroe, Chair of InvestSmart and the Government’s Financial Literacy Board, outlined the critical steps for creating your own financial plan – and achieving your goal of financial independence. In part 2 of this two part series, Paul goes further to explain some of the critical concepts of building wealth. ----more---- Part 2 continues Paul's explanation, including: His thoughts on the future of the Australian property market How to determine what financial independence means for you How Paul invests his money, including the asset allocation strategy he has used for decades The Rule of 17 What financial topics he doesn’t feel competent to advise on… and much more. If you missed Part 1, you can find it here.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au ©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

Most Australians know that a good financial plan will set them up for the life they dream of, but are nervous about seeking advice from a financial planner. Renowned finance expert Paul Clitheroe, Chair of InvestSmart and the Government’s Financial Literacy Board, is passionate about helping all Australians reach their financial goals – the smart way. ----more---- In part one of this two part series, Paul outlines the critical steps to ensuring your own financial success, and answers your questions: Do you really need a financial plan? How to get value for money if you choose to see a financial planner How to become financially free Why he hates the term ‘retirement’ Why budgeting always fails, and what you should do instead How to complete your own financial stocktake The savings strategy he and his wife have used for 40 years… and much more. Please enjoy this podcast with Paul Clitheroe, and join us for part 2 next week.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au ©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

Global markets have entered a critical juncture due to the uncertainty involving trade tariffs announced by the Trump administration. The U.S. argues that trade barriers are warranted in order to reduce its deficits against its trading partners as well as to protect American jobs and intellectual property. However, the risk is that as other countries retaliate against tariffs, there could be unintended consequences for various industries and workers and global growth is impacted. ----more---- In this podcast, Gemma Dale speaks to Mark Todd, Head of Customer Direct at NAB, about: an overview of free trade versus protectionism further detail behind why Trump has announced tariffs the potential consequences for global growth and interest rates potential implications for Australia, given China and the U.S. are its two biggest trading partners what investors can do to protect their portfolios This podcast was recorded on 23 March 2018.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au ©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

For many SMSF experts, the number one question they get from prospective and current SMSF trustees is ‘Can I use my super to borrow to buy property?’ The legislation governing SMSF borrowing is complex and fraught with pitfalls for the unwary investor, and yet there is plenty of potential to use this strategy to grow your retirement savings. ----more---- SMSF guru Meg Heffron, founder of Heffron SMSF Solutions, has decades of experience managing SMSF administration and has consulted to Government and industry on SMSF legislation, policy and regulation, and has seen all the mistakes a trustee can make with the borrowing rules. In this podcast, Gemma Dale asks Meg to discuss many of the issues you can and should consider if you want to use your super to borrow, such as: how do the borrowing rules really work, whether you can develop or renovate a property inside super what kind of property you can rent to yourself inside an SMSF, what risks make borrowing difficult for most SMSFs, and how to minimise the risks and make sure you’re getting the most out of this strategy.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB has a business relationship with Heffron. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au ©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

The Australian dollar is renowned as a volatile currency, having traded as high as $US1.10 and as low as $US0.49 over the last two decades. Over the last two years, however, it has traded in a relatively narrow range – is this lulling investors into a false sense of security? ----more---- In this timely podcast, Gemma Dale interviews Ray Attrill, NAB’s Head of Foreign Exchange Strategy and regular guest on the popular Morning Call podcast, about his views of the current state of the Australian dollar and his thoughts on: Where interest rates are headed in the short to medium term How fluctuations in the $US dollar can impact portfolios, The potential impact of Brexit and Trump trade wars, and NAB’s view on the $USD, UK pound and Euro over the coming twelve months.    The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

Australian listed companies represent approximately only 2% of world share market capitalisation according to MSCI and many great investment opportunities, particularly in sectors such as technology and pharmaceuticals, are available only in markets such as the US and Europe. As a result, Australian investors are increasingly looking offshore to diversify and grow their portfolios. ----more---- In this informative and educational podcast, Gemma Dale interviews James Swan, Manager, International at nabtrade, about the different ways investors can get access to international markets, with discussion topics including: the easiest ways to get started in international share markets the pros and cons of managed funds, ETFs and direct equities managing risks such as currency and sector concentration the features to look for, and be aware of, when choosing how to invest in international equities, and how to manage international exposure in a balanced portfolio   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

There are now over 600,000 SMSFs in Australia, with over 1.1million investors having chosen to manage their own retirement savings. SMSFs offer unprecedented control, flexibility and investment choice, but also come with a long list of responsibilities and obligations, so it’s worth giving considerable thought to whether it’s the right structure for you. ----more---- If you’re thinking about an SMSF, or want to know more, tune in to hear SMSF guru Meg Heffron, who has decades of experience managing SMSF administration and has consulted to Government and industry on SMSF legislation, policy and regulation, give her guidance on how to answer this question. NAB’s SMSF expert Gemma Dale and Meg discuss many of the issues you can and should consider, such as: how much do you really need to start an SMSF how much work it really takes to manage your retirement savings, what risks make an SMSF difficult to manage, and who you should engage to help you, whether you prefer to do it yourself or seek out an expert.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB has a business relationship with Heffron. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

Recent legislation gives older Australians the opportunity to contribute up to $300,000 each to superannuation if they sell their homes. This sounds like a great way to increase your super and free up some capital for a more comfortable retirement, but do the benefits really stack up? ----more---- In Should you consider the new Downsizing Contribution to Super?, Vishal Teckchandani interviews Gemma Dale, nab’s Director, SMSF and Investor Behaviour, about this new strategy and whether it offers an opportunity for you. This conversation covers: the new rules and how you need to meet them the impact of the downsizer contribution on your Age Pension whether the tax savings of super are likely to be beneficial for you, and some scenarios where using the contribution might help – or harm – your situation.    The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

While many of us long for leisurely days playing golf and gardening, or perhaps travelling the world, the reality of retirement presents many challenges for older Australians. Making your savings last a lifetime is a tricky proposition, and both spending too much, and too little, during this stage of life can hugely affect the quality of your post working life. ----more---- After the huge popularity of his recent appearance on this podcast in Busting the $1million Retirement Myth, nab’s Head of Retirement Brian Long is back to answer your most asked question: how much can I afford to spend in retirement? Gemma Dale interviews Brian on such thorny issues as: what the average Australian really spends now in retirement the three stages of retirement expenses, and how they may affect you, what risks can derail your retirement savings and how to plan around them, and what you can do to improve your prospects if you’d like a more aspirational lifestyle.   The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.

Exchange Traded Funds, or ETFs, have become one of the most popular products for investors who are wishing to create long term wealth. Once just simple index trackers, they now offer exposure to currencies, sectors such as robotics and biotechnology, and even allow investors to short or leverage their market exposure. ----more---- In ETFs – Behind the Hype, Gemma Dale interviews Kris Walesby, Head of ETF Securities Australia, about the pros and cons of ETFs, and covers such issues as: how ETFs work and what they offer investors the differences between passive, smart beta and active ETFs some of the sectors and unique exposure ETFs can provide access to, and the risks and costs you need to consider if you are considering these products.    The information provided in this podcast is intended to be of a general nature only. Any advice has been prepared without taking into account your objectives, financial situation or needs. Before acting on any advice, National Australia Bank Limited (ABN 12 004 044 937 AFSL 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any of this information. NAB is not a registered tax agent and any taxation information contained on this website is of a general nature. The tax consequences of investing will depend on your particular circumstances and we recommend that you seek professional tax advice before applying for a financial product. The information in this podcast is not a substitute for reading the relevant terms and conditions and Product Disclosure Statement (PDS) before making any decisions available via our website at www.nab.com.au©National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 89526A0514.