While everyday mum and dad investors have become commonplace on the Australian share market landscape, so too has the Baby Boomer looking to pave the way for financial independence in their retirement years. In order to add to their retirement nest egg or generate cash flow, they are arming themselveswith the right share market education so as to make their own investment decisions from the comfort of their home. This growing trend shows that the impending and already retired know the importance of planning for a financially secure future.
I would like to introduce England born Ray O’Donoghue, who started his career as a Physical Education teacher before moving with his young family to Australia in 1975.Switching careers to the Royal Australian Air Force as an Air Traffic Controller, and later an Air Defence Officer, Ray retired in 2010. However, Ray and his wife Angela were very aware they would need more than a pension to fund their retirement.
At 61 years old, he currently lives with Angela in Lakelands in the Northern shores of Lake Macquarie.
“I became an accidental shareholder in the mid 90s, when institutions such as National Mutual and The NRMA demutualised and gifted me a few shares because of the policies I held. My interest in trading was piqued through this,” says O’Donoghue.
Upon approaching his retirement in 2010, O’Donoghue researched trading courses and came to us at the Wealth Within Institute, where he completed his Diploma in Share Trading that year. “The Diploma greatly increased my understanding of share trading and turned my trading approach completely on its head. For the first time, I was able to considermyself an educated trader, albeit still at a basic level,” said O’Donoghue. Today trading plays an important part in their lifestyle, providing a substantial part oftheir family income as well as finding great enjoyment from each trade. Allowing the couple to do more with their time, with his success and further education, O’Donoghue says it has added to the couple’s financial freedom. The added benefit for him is he is able to trade from the comfort of his home, from a holiday destination, from anywhere in the world.
“Trading is one of the important means that will facilitate my goals for travelling, spending time with my family and support causes that are important to me. As a result, it will remain an important part of my life,” added O’Donoghue.
When faced with retirement, the share market can be a scary place for the un-educated. However as Ray found out education is the key to success when venturing into something new and unfamiliar.