Murray Williams has retired from teaching, is working on a PhD in architectural history, and has a part time job.
Like many RaboDirect customers Murray has a mixture of on-call savings and term deposits as well as some money in the Cash Advantage Fund. The other side of his financial life is a share portfolio.
Attitudes towards investing
Murray has always been willing to take a calculated risk with his share portfolio. As he built up the portfolio he paid considerable attention to the markets. Currently he has a defensive portfolio of quality shares.
When it comes to risk, Murray believes he is “half way along the continuum of risk”, although he was comfortable taking more risk in his younger days.
Even so, he realises the need for capital gain as well as income at his age and stage in life.
Preferred asset classes
Murray is a equities man and enjoys cruising financial websites. Two of the great advantages of equities for Murray are the dividend yields and the imputation credits.
Term deposits make up the secure half of his portfolio. Murray’s term deposits are all less than one year in duration because he’s expecting the OCR to go higher, sooner rather than later.
Murray joined Kiwisaver even though he doesn’t get employer contributions. “It was too good a deal and I joined virtually as soon as it started.”
Views on the current economy
“The doom and gloom merchants are centre stage at the moment,” he says. “On the whole I would be reasonably optimistic. The nation is an efficient food producer and the rest of the world needs food.”
Outlook for the next few months
Murray is “reasonably positive” from a personal point of view and is happy with the share market rises and increased dividend flow of recent times. On a macroeconomic scale he’s concerned about the high dollar’s effect on the New Zealand economy.