Morgan muses on matters monetary and motorcycling

Gareth Morgan
Gareth Morgan
Some home truths about investment, and investment truths about homes may be imparted during a seminar by Gareth Morgan at the Dunedin Town Hall tonight.

Dr Morgan will speak on topics such as investment markets, house prices and national superannuation schemes.

He will also discuss his family's philanthropic work and motorcycle trips in Africa and the Antarctic.

The proceeds of the event will go to the Otago Community Hospice and will be matched "dollar for dollar" by the Morgan Family Charitable Trust.

"We've always been involved in charity work but things really went into overdrive since we sold [online auction website] TradeMe in 2006.

"We [he and wife Joanne] looked at each other and realised we had a reasonably obscene amount of money to use, and I think it's natural to want to give something back," Dr Morgan said.

The trust had asked community leaders to nominate organisations for funding, and they had most often put forward hospices and organisations that assisted children with cancer, such as Kids First, he said.

He would also talk about the "relative merits" of compulsory superannuation schemes, many of which he regarded as "probably a bit of a waste of time".

"There's no evidence emerging which shows compulsory super raises the national savings rate.

"So far, it's been a political decision. I want to make people think about alternatives."

He would also discuss ways to increase investors' "financial literacy".

"I think we need to become more financially literate. You only have to look at the blood and guts on the walls after the recent collapse of finance companies."

In the finance sector, a "pretty low level" of advice had cost many mum and dad investors their life savings, he said.

Similarly, conservative thinking had led to an "orgy of excess in property investment".

He believed a solution to the present financial woes might be to encourage increased financial discipline.

"New Zealanders used to spend about 80c of every dollar earned in the 1960s and '70s. Now, it's $1.24 of every dollar earned."

Dr Morgan is chief executive of Gareth Morgan Investments and a director of economics consultancy Infometrics Ltd.

He has a doctorate in economics from Victoria University.

 

Add a Comment

 

Advertisement