Here’s what you need to know

• Australia’s government has appointed the first Illicit Tobacco and E-Cigarette Commissioner. The Commissioner will be focused on controlling the importation and sale of illicit tobacco and e-cigarettes. Given the amount of TSG’s popping up every day, they’ve got their work cut out for them.
  
  

• The US state of California will now require students to complete a semester-long personal finance course before graduating. The course will include principles of budgeting, managing credit scores, types of insurance and how to detect a scam.
  
  

• The US Supreme Court handed down a decision in the case against former President Trump and his efforts to overturn the 2020 election. The Court distinguished between ‘official’ and ‘unofficial’ acts of a President, and found Presidents are entitled to “at least presumptive immunity” from criminal prosecution for official acts. The Court then handed the case back to a lower court to determine whether Trump’s efforts to overturn the 2020 election were ‘official’ or ‘unofficial’ acts.
  
  

• Inside Out 2, the animated film by Disney and Pixar, has just topped $1 billion at the global box office. It is the first film to do this since Barbie and Disney’s best performing animated film in more than 5 years.
  
  

• After France’s far-right National Rally had a great result in the first round of voting in Parliamentary elections, France’s centrist and left-wing parties have agreed to withdraw candidates where the other may be more suited to beating National Rally. This effort to not split the anti-National Rally vote was well received by markets, with the French stock market up 1%.

What the…?

Farmers in Denmark will soon have to start paying tax on their cows passing gas. Set to be introduced in 2030, Denmark will be the first country in the world to tax livestock emissions (New Zealand proposed, but ultimately didn’t follow through with, a similar policy last year). Estimates are that this will cost farmers a little over $100 US dollars per cow per year and add 3% to a kilo of beef mince in the supermarket.

A little better everyday

Sam asked via our website contact form:
Is the 4% rule applicable for retirement drawdowns, and what is your perspective?

We asked Dylan Pargiter-Green to help us explain:
Dylan Pargiter-Green is a Director and Financial Advisor at Bold Wealth

The 4% rule suggests retirees can withdraw 4% of their savings annually without running out of money.

However, it primarily ensures that assets outlive the individual. I believe many retirees underspend out of fear, missing out on enjoying their wealth. A balanced approach that allows enjoyment of assets while ensuring financial security is more beneficial.

I encourage clients to enjoy the assets they’ve accumulated confidently. It’s important to use their wealth meaningfully and enjoy life rather than leaving behind unused assets.

The book Die with Zero is a great resource, promoting the idea of spending wealth during one’s lifetime and making early distributions to loved ones.

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