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Founder of Learn to Trade, Greg Secker’s investment journey began with him working in IT on a trading floor supporting the largest currency trader in London. With no real knowledge of finance and a $5000 gift from his mother, Greg entered the trading game and joins the Nestegg podcast to discuss his journey to success.

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Having previously joined the show to share how he is making a full-time income in only a few hours a week, Greg Morgan also joins host David Stratford to share how Learn to Trade set him on the path toward financial success, and why mindset and positivity is key to success as a trader.

The pair will explain why the current climate is the perfect time to be trading, explain the 5-2-1 rule and why it is so important, and reveal what the best investors are doing to cement their success.

You can keep up to date with what Learn to Trade are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Tax cuts and rate reductions fail to fire up retail

By Cameron Micallef · November 05 2019

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Earn

Tax cuts and rate reductions fail to fire up retail

By Cameron Micallef
November 05 2019

Reading:

Tax cuts and rate reductions fail to fire up retail

By Cameron Micallef · November 05 2019

Reading:

Three rate cuts and a tax break have not been enough to stimulate the retail sector, national figures have shown.

Figures from the Australian Bureau of Statistics have shown that consumers are still wary of spending, cutting back on discretionary items, with growth worse than expected.

Australia’s retail turnover increased by 0.2 per cent in September 2019 to $27.6 billion, with the expected forecast being a 0.5 per cent bump in growth for the retail sector.

Overall for the third quarter, Australia’s total retail spend fell by -0.1 per cent to $79.8 billion.

Ben James, ABS director of quarterly economy wide surveys, considered the results as “mixed”.

“Rises were seen in other retailing (0.8 per cent), cafes, restaurants and takeaway services (0.6 per cent), and food retailing (0.1 per cent).”

“These rises were slightly offset by a fall in clothing, footwear and personal accessory retailing (-0.5 per cent) and department stores (-0.2 per cent). Household goods (0.0 per cent) was relatively unchanged,” he said.

The ABS’ seasonally adjusted figures saw gains in NSW (0.3 per cent), Western Australia (0.7 per cent), Tasmania (1.0 per cent), South Australia (0.2 per cent), the ACT (0.1 per cent), and the Northern Territory (0.1 per cent). Victoria (0.0 per cent) was relatively unchanged. Queensland (-0.1 per cent) fell in seasonally adjusted terms in September 2019.

Online sales

Online retail turnover contributed 6.3 per cent to total retail turnover in original terms in September 2019 compared with September 2018’s online retail turnover proportion of 5.6 per cent.

Online retailers tend to have greater swings than the rest of the retail market, according to NAB’s Online Retail Sales Index, which saw 1.8 per cent growth month-on-month.

NAB chief economist Alan Oster said, “After a considerably weak mid-year period, online retail sales continued to grow in September, albeit at a more moderate pace than the significant growth rate recorded in August.”

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leveraging their insights to grow your portfolio.