Carmel’s Christmas Plum Pudding  

Carmel Adams (Sam’s mum)

 

Serves: 6

🧂 Ingredients

• 2 kg mixed dried fruit
• ½ kg glazed cherries
• 9 cups milk (approx. 2 litres)
• 3 cups brown sugar
• 500 g Western Star butter
• 9 tsp bicarbonate of soda
• 9 cups self-raising flour
• 15 tsp mixed spices (cinnamon, mixed spice, nutmeg, ginger)

🍲 Instructions

1. Simmer Base:
   In a large pot, combine mixed fruit, cherries, milk, brown sugar, and butter. Bring to a boil, then simmer for 5+ minutes.
2. Activate & Cool:
   Add 9 tsp bicarbonate of soda. Stir well — the mixture will froth. Let it cool until nearly room temperature.
3. Mix Dry Ingredients:
   Sift together self-raising flour and spices.
4. Combine:
   Stir the sifted flour mixture into the cooled fruit mixture. If too moist, add more flour.
5. Prepare Bowls:
   Grease pudding bowls with butter and line with greaseproof paper.
6. Fill & Seal:
   Scoop mixture into bowls. Fold paper over the top and cover with foil to seal so no water gets in, and tie string around the rim. Make string handle for easy lifting.
7. Cooking: Place pudding bowls in large saucepans to steam for 2 hours.

Strategic Opportunities in 2026

• Consider ‘catch-up’ concessional super contributions before 30 June 2026 – if your total super balance will be $500,000 or more from 30 June 2026, you may have one final chance to manage tax and utilise unused cap amounts from 2020/21 before end of the current financial year.
• Pension transfer balance cap may increase to $2.1m on 1 July 2026 – Current inflation (CPI) data indicates it may still be possible for the pension ‘transfer balance cap’ to increase from the current $2 million to $2.1 million at 1 July 2026 (watch this space).
• Legacy Pension client Exit Opportunities – people with lifetime, life expectancy and market linked income streams (known as Term Allocated Pensions) may want to take advantage of the current 5-year window to exit these types of pensions (potential to simplify and/or re-structure).
• New Aged Care Rules and Fees – from 1 November 2025 new rules and fees apply for persons entering residential aged care – if this may impact you or a loved one, contact Sam or Glen to discuss.

 

 

 

 

Trends & Observations

Are we in (another) Technology induced share market bubble?

The US Share market is on track to produce three successive years of 20%pa+ returns for only the second time in recorded history, driven meaningfully by top technology companies dubbed the ‘Magnificent 7’ (Apple, Alphabet, Nvidia, Tesla, Microsoft, Amazon and Meta) – this has some pundits asking the question “are we in another bubble akin to the ‘tech wreck’ of the late 1990s?”…..

Our view

• Prices are elevated, but not in bubble territory….. 

 

 

 

 

 

 

 

 

 

 

 

• Today, the average Price to Earnings multiple of the Tech Companies is less than half that of the late 1990s Tech Wreck period

 

 

 

 

Bonds (finally) a little more attractive?

For the first time in around 25 years, income yields on Bonds have risen to match Shares, suggesting there is now more value on offer, relative to recent history, in the high-quality fixed income component of client portfolios.

 

 

 

 

 

 

 

 

 

 

 

Chart source: Ascalon Capital (asset consultants)