Here’s what you need to know today

• The list of positive associated effects of Ozempic-style GLP-1 drugs continues to grow. Researchers have presented evidence that people with dementia who took the daily injectable had an 18% slower decline in cognitive function than the control group.
  
  

• The ABS released Australia’s June inflation numbers. Annual inflation is at 3.8%, down from 4% in May but up from 3.6% in April. Based on this data, the initial reaction is that Australia’s Reserve Bank will hold rates steady when they meet next week. We still wouldn’t be surprised if they raise in one final push to get inflation back below 3%.
  
  

• Speaking of interest rates, the Bank of Japan has raised rates for just the second time since 2007. This is despite Japan’s economy actually shrinking between January and March and inflation coming in at a less-than-expected 2.6%. So why did it raise? Reports are the Bank of Japan is confident the economy is recovering and concerned about the weak Japanese Yen.
  
  

• Luxury brands have been struggling lately, with LVMH, Kering and Hermès all disappointing with their latest results. Prada’s on the other hand has bucked the trend, reporting revenue rose 17% year-on-year. The biggest driver? Youth-focused Miu Miu where sales almost doubled.
  
  

• The Trump-Vance ticket seems to have changed their position on EVs. Last week, Trump called EVs a “green scam”. Yesterday, he told a rally that EVs are “incredible” and he’s “totally for them”. What changed? It seems Elon’s endorsement and money was the big driver.
  
  

• The US Senate has passed two pieces of legislation designed to protect children online. If the House also passes it, it will be the first laws Congress has passed to protect children online since 1998 (think about how much has changed online since then). The tech industry is obviously against these bills, but so are a number of free speech groups including the American Civil Liberties Union (ACLU).
  
  

• The Australian arm of American burger chain Carl’s Jr has entered administration. When it launched in 2016, it had plans to reach 300 stores in Australia. As it folds in 2024, we have to ask - who’s actually eaten at Carl’s Jr?

What the…?

We’re enjoying watching plenty of stars at the Olympics, but one of the biggest has to be Katie Ledecky - the American swimmer has not lost a 1500m race in 14 years.

When Ledecky last lost a race, in July 2010, Instagram hadn’t even been launched. Meaning there has never been a post on Instagram of Ledecky losing a 1500m race.

Investing is a lifelong journey

Here’s what you can learn today.

Two quick-fire questions with Dylan Pargiter-Green, Director and Financial Adviser at Bold Wealth

Question 1: What are education and investment bonds, and how do they work?

Education and investment bonds are trust structures with favourable tax treatment, capped at 30%.

After ten years, withdrawals from these bonds are generally tax-free, which is effective for long-term savings goals like education. These bonds offer various investment options, allowing clients to tailor them to their risk tolerance and financial objectives.

Question 2: How do you transition from a growth-focused portfolio to one aimed at generating income?

Transitioning to retirement doesn’t necessarily mean shifting entirely to income-generating assets. Income can derive from both dividends and realised capital growth. It’s about balancing the portfolio to manage risk and stability.

As you get closer to retirement, you might consider gradually incorporating more income-focused investments while still keeping some growth assets to hedge against inflation.

Want to speak to Dylan or one of our hand-picked financial advisers? Fill out the form on our website

This email is thanks to Australian Property Scout

Join Sammy Gordon, Equity Mates’ regular property expert, as he is joined in the studio by his regular co-host Jimmy, as they unpack his portfolio!

Jimmy shares his journey to date, including some incredible highs, and some debilitating lows in which he lost almost everything during COVID when his 4 year business that was finally about to hit the big time, came crashing down as it was just about to fly.

The story is inspirational. This is the highest rated episode ever, on the Scouting Australia Podcast. It will move and inspire you to aim higher and realise what is possible, no matter your position. Jimmy’s ability to keep pushing forward and create something significant is truly inspiring and his journey is a testament to that.

Tune in to this very special episode on the Scouting Australia Podcast on all your favourite listening platforms.