Barefoot Investor encourages clergy to tread their own path

Bishop Andrew was privileged to welcome Scott Pape to Bendigo in March to give the clergy some helpful financial advice, particularly in relation to retirement and housing.

Better known as the ‘Barefoot Investor’, Scott writes a weekly column for News Limited newspapers and his most recent book has been the bestselling book for the best part of 2017. He is known for being fiercely independent and giving straight forward common sense advice to everyday Australians to help them be financially secure.

In keeping with his often entertaining approach to giving advice, Scott structured the session around the ‘Three Barefoot Commandments’, explaining that managing your money doesn’t need to be complicated and that the more control you have over your finances, and therefore your life, the happier you will be.

He gave some simple tips on setting up a low fee superannuation fund and making extra contributions to provide for a secure retirement, as well as outlining strategies to purchase a house in retirement and still live comfortably.

He also demonstrated how small changes can make a significant difference over the long term, for example reducing superannuation fees, or adding as little as $30 a week.

Scott then responded to variety of questions from the clergy relating to insurance, investment properties, shares and superannuation in what was a very helpful question and answer session.

Sarah Crutch