Welcome to the July issue of the Select Wealth Management Dashboard Newsletter. Football fans the world over have had a month of bliss with the World Cup finally coming to an end this morning. I love the Football World Cup – it really is a special sporting event. This year's tournament made infinitely more enjoyable by watching the English fans living every moment of belief that "it's coming home" (sadly to be let down at the last hurdle… again…). Well done to France for a flawless tournament – certainly worthy champions in my opinion. For a bit of fun, I thought I would look at some interesting financial facts about World Cup football. It's a reminder of how big the business of sport is – the numbers are mind-boggling! The cheapest ticket to a live game in the pool stages was NZ$74 A ticket to the grand final would set you back at least NZ$163 (available only to Russian citizens) right through to NZ$1,621 A total of about 3 million tickets have been sold for the 2018 World Cup The total prize money pool is US$400 million (or NZ$589 million). The winning country receives US$38 million (or NZ$56 million) The projected revenue for FIFA for the 2015 to 2018 budget cycle is a staggering US$6.1 billion – about the same as the GDP of countries like Kosovo, Moldova or Rwanda I could reel off dozens more of these stats, but I'll spare you the pain. Suffice to say – there is plenty of money in sport. In the absence of any significant economic developments over the past 30 days, I thought I would do a slightly more light-hearted newsletter than usual. It's a collection of little truisms, sayings and resources that I've enjoyed over the years. I apply these principals to my financial planning and investment philosophy. Hopefully you find some light humour (and possibly the odd bit of truth or wisdom) in them too. It makes a great deal of sense to compound wealth steadily rather than going for bust. Wouldn't you rather be sure of a good result than hopeful of a great one? The clearer your definition of financial success, the greater your chances of reaching it. If you fail to define financial success, you can never hope to reach it. Spending money to show people how much money you have is the surest way to have less money. Sustaining wealth is harder than getting rich. A few good websites to check out: nytimes.com/by/carl-richards - a collection of fantastic "one page financial plans" by Carl Richards awealthofcommonsense.com - a blog run by economic commentator Ben Carlson homes.co.nz - a super useful resource for property valuations Good books to read: The Richest Man in Babylon – George S Clason. A book published in 1926 which proves that good financial planning is as simple today as it was in ancient Babylonian times. The Inevitable – Kevin Kelly. A book forecasting 12 technological forces that will shape the next generation. Here are the numbers for the past 30 days:   In terms of your Select Wealth Management portfolio, you will receive your performance report for the June quarter soon (if you haven't already). I am pleased to report that after a soft quarter in March, we have had very strong performance for the June quarter. In particular, the equity and property trusts have done exceptionally well with stand out performance from RIT Capital, APN AREIT, Magellan, and Devon. If you have any questions about your performance report or if you want to meet in person to review your report, please do not hesitate to contact me on 04 920 7061 – I am here to help. I am also pleased to confirm that we are starting a new "Giving Back" program for the second half of 2018. We are stoked to be working with Te Omanga Hospice over the next 6 months. Te Omanga Hospice provide palliative care through an interdisciplinary team of specialists doctors, nurses, therapists and specially trained volunteers to those living with a terminal or life limiting illness in the Hutt Valley. They provide care for people in their homes, at their Inpatient Unit, and support the delivery of palliative care in Residential Care Facilities, the Hutt Hospital and in conjunction with General Practitioners. The day to day operational cost of running this amazing service is difficult enough to fund under normal circumstances. This year is even more challenging than usual as Te Omanga Hospice need to rebuild their hospice at 136 Woburn Road. The cost of this is $10 million of which they get no government funding towards. Thanks to the incredible support of the community, 70% of this funding had already been raised by June 2018. Isaacs Financial Planning is aiming to make a small contribution to the outstanding 30% that still needs to be raised, and also to their general funding for the year. It's a privilege to be working with this great organisation, and we are excited about making as meaningful a contribution to this great cause as possible – so keep those referrals coming! You can follow progress at www.mifinancialplanning.co.nz/giving-back.html . Until next time, keep warm and well. Warm regards Dave and the team at Isaacs Financial Planning dave@mifinancialplanning.co.nz

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