Royal Commission result:

[Bobby]

Some people only think that they are the smartest person on the block. Fiddling around with "shares" and so forth. If you haven't a clue ... don't do it.

When I was about to retire, I sought the opinion of a Financial Adviser and he actually praised me because I had already thought it through and just wanted confirmation that I was "on the right track".

You're so smart Nef.

[sprintcyclist]

Some people only think that they are the smartest person on the block. Fiddling around with "shares" and so forth. If you haven't a clue ... don't do it.

When I was about to retire, I sought the opinion of a Financial Adviser and he actually praised me because I had already thought it through and just wanted confirmation that I was "on the right track".

We are doing that sort of thing too

Leave it to the professionals, do our own research and get some paid advice on the overall aim.

[brian ross]

[Gordon]

I don't mind if brokers get a commission on the original deal but certainly not for the life of the mortgage.

I agree.
A loan broker helped me once - a long tome ago -
to get my foot into the market.
I never looked back.

I've had a mortgage broker get me 1% lower than I could directly negotiate with the bank. I go a discount but the broker got the beat possible rate. In that case, why would I care what commission he gets?

Plus some are magicians at arranging loans for lo-doc applicants .

Loan brokers can very handy to know if you're not all cashed up.

They can also be good if you're doing something big and complex.

[Bobby]

I don't mind if brokers get a commission on the original deal but certainly not for the life of the mortgage.

I agree.
A loan broker helped me once - a long tome ago -
to get my foot into the market.
I never looked back.

I've had a mortgage broker get me 1% lower than I could directly negotiate with the bank. I go a discount but the broker got the beat possible rate. In that case, why would I care what commission he gets?

Plus some are magicians at arranging loans for lo-doc applicants .

Loan brokers can very handy to know if you're not all cashed up.

They can also be good if you're doing something big and complex.

Of course.
They wouldn't exist unless they were needed.

My last bank mortgage loan had about 50 pages long of fine print -
I just closed my eyes and signed it.

Yes - the contract did rip me off for a small sum of $300 that I didn't have to pay but
it would have cost me $10,000 in court & legal fees to get it back -
so I copped it on the chin.
The Banks are bastards but you just have to bend over and take it
or you'll never get a loan.

[Valkie]

Once the criminal stood on the public side of the counter and held up banks with guns and a mask.

Now the criminals stand on the other side of the counter, protected by shields and smile as they Rob you blind.

Criminal gangs used to wear colours and Rob and kill people on the street

Criminal gangs now wear suits, lie to people they tricked into voting for them and still rob and kill people, on a much larger scale.

[Neferti]

Some people only think that they are the smartest person on the block. Fiddling around with "shares" and so forth. If you haven't a clue ... don't do it.

When I was about to retire, I sought the opinion of a Financial Adviser and he actually praised me because I had already thought it through and just wanted confirmation that I was "on the right track".

We are doing that sort of thing too

Leave it to the professionals, do our own research and get some paid advice on the overall aim.

Thanks, Sprint. I am not a gambler ... playing the Stock Market is a form of gambling, I think.

My Financial Advisor told me to "take the Superannuation Pension" and since I had only been employed by The Government for 10 years, it wasn't huge ... I paid off a Mortgage and rolled the rest over and have never had to draw on it.

The last thing anybody wants to be is Old AND Poor! Make sure that you have somewhere to live your life out, without paying rent ...

I need a gardener, does anybody know anyone in Canberra who will weed, prune and enjoy it?

[Neferti]

Once the criminal stood on the public side of the counter and held up banks with guns and a mask.

Now the criminals stand on the other side of the counter, protected by shields and smile as they Rob you blind.

Criminal gangs used to wear colours and Rob and kill people on the street

Criminal gangs now wear suits, lie to people they tricked into voting for them and still rob and kill people, on a much larger scale.

I don't know about you, Valkie, but I haven't been anywhere near a Bank Branch that has a Teller standing there, waiting to "process your money", in decades!

Bank branches have closed down .... ATMS have been removed.

I have been paying bills online for 20 years. I don't use cash. Who does? My credit card is only used for the ISP and Foxtel monthly accounts and I transfer those sums as soon as they appear.

I doubt you will find "criminal gangs" trying to steal money at ATMs or holding up Banks .... they would be hard pressed as they are ALL closed.

What will they to now? Rob children of their pocket money?

[Black Orchid]

ATMs have not been removed here. Tellers have been replaced with ATMs though.

[Neferti]

ATMs have not been removed here. Tellers have been replaced with ATMs though.

ATMs are only at Bank Branches .... no longer in shopping centres. At least not Westpac ones. EFTPOS or "tap and go" is the way we shop (in person) in Canberra.