Financial year 2019-20 is now behind us and there’s nothing like closing a chapter to inspire thoughts of a fresh start. But global challenges persist: Australia is officially in a recession while also bracing for a post-Job Keeper economy in September. While it’s impossible to anticipate future changes to the global economy, there’s plenty you … Read more
The economic impact of the COVID-19 pandemic is playing havoc with finances for many households. In an ideal world, the financial boost should be enough and assumes that everyone was financially prepared for tough times. But in times of crisis, it can all be a little overwhelming. Here are 5 common financial mistakes to avoid … Read more
Ok we get it, knowing where to turn to for financial advice can be confusing sometimes! Financial planners and financial counsellors are both types of financial experts, so which one is right for you? To answer this question, start by considering why you’re seeking financial advice. Is it to improve your financial wellbeing? Plan for retirement? Manage … Read more
If you think storms may lie ahead, it makes sense to prepare your craft for choppy waters. With Australia facing continued economic uncertainty, it may be time to take stock of your finances and get in the right shape. However, if you’re worried about the threat of redundancy, your investments or your retirement plans being disrupted, … Read more
In Australia, special capital gains tax rules apply when dealing with assets of a deceased estate. The most common types of assets inherited by a beneficiary that could be subject to a capital gain are property, shares and managed funds. You may have just received (or are about to receive) an inheritance. While this article … Read more
In the wake of recent ferocious bushfires, the climate change debate has climbed the news agenda, with many Australians now considering what they can do to help. If you’d like your money to make a difference to the environment as well as your future, now might be the time to consider ethical investing. It’s a … Read more
To help pay for the public health system which we call Medicare, you’re required to pay a 2 percent Medicare levy as part of your income tax. While the low-income tax offset can reduce your individual tax liability, sadly it does not reduce the Medicare levy per se, which can make it that little bit … Read more
Everyone who’s approaching retirement wants to know how much money they need to save – how much is enough to leave work confidently and then live comfortably? Lately, we’ve been seeing $1 million dollars bandied around as the magic number but is $1 million enough? Well, it depends. If you’re a high-income earner and want … Read more
Super law sets out some requirements that trustees of regulated super funds need to consider when formulating an investment strategy. These requirements include (but not limited to) the composition of investments, risk and return, liquidity, insurance and the ability to pay liabilities (including member benefits) as they become due. Looking first at the composition of … Read more
When considering the financial position they’ve achieved in retirement, many Australian retirees share the same opinion: “I wish I’d saved more.” For some people, keeping up with day-to-day living expenses and staying on top of debts is challenging enough, and investing for the future can seem out of reach. Meanwhile, others are better at sticking … Read more