Navigating the complexities of personal finance can often feel like sailing in uncharted waters, and this includes finding a financial adviser. From managing daily budgets to planning for long-term goals like retirement, the journey is fraught with decisions that can have a lasting impact on your financial well-being. In Australia, the financial landscape is further…
Deciding whether or not to set up an SMSF is a significant financial decision that should not be taken lightly. Before you take the plunge, it’s essential to consider your personal circumstances carefully and whether you have the time, expertise, and commitment to manage your own super fund. Here are some key questions to ask…
“Total and Permanent Disability Insurance” is designed to relieve financial pressure in case you become permanently disabled as a result of illness or injury. The statistics paint a sobering picture: approximately 9 million Australians currently hold Total and Permanent Disability (TPD) insurance, yet many remain underinsured or completely unaware of what their policies actually cover. The…
Before diving into strategies, it’s essential to understand what you’re paying for and what levers you can touch to reduce mortgage repayments. What you pay: principal, interest, fees Principal: the original amount borrowed (or the outstanding balance). Every repayment contributes to reducing this to some extent. Interest: the cost of borrowing – usually expressed annually…
An unexpected critical illness or accident that results in the breadwinner being unable to work can have a devastating effect on a family, especially when the breadwinner does not have Trauma Insurance. I've witnessed firsthand the devastating financial impact that critical illnesses can have on families. While most working Australians understand the importance of health…
Last financial year's superannuation statements are hitting your mailboxes over the past week. You must check that your details are correct. The following is the type of information you should be checking: What is your balance. Is the balance trending upwards over time - remember the Centrelink aged pension will probably not provide enough for…
According to the Australian Taxation Office (ATO), approximately six million superannuation accounts or “supers” were “lost” in 2014. The accounts were valued at more than $16 billion. (1) There are many individuals who may have lost superannuation that they are not aware of. These accounts, however, can be “found.” The proper account holder merely needs…
You are entering the next chapter of your life and retiring, and you're asking yourself the question, what is a good monthly retirement income? It’s your goal to ensure that you can live comfortably and sustain the lifestyle you desire. Many factors may affect it, but your primary concern is securing a reliable monthly retirement…
As a financial advisor in Australia, it’s rare to see a piece of government policy walk back from the brink in such a significant way. For months, the investment community has been holding its breath over the proposed Division 296 tax on large superannuation balances. The initial proposal, let's be frank, was fraught with issues.…
Life is unpredictable. For many Australians, the risk of serious illness, disability, or death is low probability but very high impact — loss of income, medical bills, mortgage repayments, family hardship. Personal insurance helps manage those risks. Some data: The Value of Group Insurance in Superannuation report found that about 30% of working members of…
