Financial PlannersInsurance ProtectionNews Protecting Your Most Important Asset

Protecting Your Most Important Asset: Yourself

Do you have disability insurance or life insurance? Many people in Perth neglect to protect their most important asset: themselves. That can be the biggest mistake a person makes in their entire life. Nobody wants to contemplate something bad happening to them in their future, but statistics don’t lie. The longer you live, the more likely you are to suffer disability, and death is something that happens to us all.

Life and disability insurance are lumped into a category called “life products.” Here are the basics of insurance products that are available to help you protect yourself from financial ruin in the event of death or disability.

Life Insurance

Life insurance pays a lump sum to your estate if you die. If you are the main breadwinner in your family and you die, you could leave your family with no income. Life insurance guarantees that your family will have money to pay expenses in the event of your death.

Income Protection Insurance

This can cover as much as 75% of your income in case you won’t be able to work for an extended period of time due to injury or illness.

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NewsSuperannuation Fund Boost You Superannuation Funds

Simple Information That May Boost Your Superannuation Fund

Our financial planners would like to address some of the questions they have been asked about superannuation funds in our Perth office. One of the more common questions we get is “What can I do to boost my super?” While we can’t give specific financial advice on a blog, we can provide a few tips and techniques that may help you boost your super.

Have You Set a Retirement Date?

Basic financial planning starts with setting a retirement date. It can be evolved, recalibrated or changed at any time, but a retirement date is essential for helping you focus on growing your super. The age at which you plan to retire will play a role in what strategies you will use.

Formulate a Plan

If a person formulates a plan, they are more likely to get to where they want to go than if they don’t. Like the retirement date, it’s a matter of focus. It can also get you to thinking about what you actually have to do to retire comfortably.

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News Financial Literacy in Australia

The Government Wants to Make Us Smarter About Money

Those who offer financial services in Perth and across Australia are applauding an ongoing government effort. Courtesy of the Australian Securities and Investments Commission (ASIC), Australians are going to continue to become smarter about money. ASIC plans to enhance their website called “Money Smarts” and extend the reach of its Money Smarts program to more schools than it currently reaches.

The changes are part of a three year program that is designed to help raise financial literacy in Australia. The Organisation for Economic Co-operation and Development (OECD) is teaming up with ASIC to provide a national framework that encourages the government, business and education sectors to cooperate and help improve financial literacy.

This news comes on the heels of a recent OECD survey in which 15 year-olds across the globe participated in testing to determine their financial literacy. Australians came in fourth, only to China, Belgium and Estonia, out of 18 highly-developed countries. The baseline or average was 500. Australia scored 526 while China scored 603, beating second place Belgium by 62 points.

These changes are going to happen, even though funding for the program was cut 12% in the May 2014 budget.

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News Want to Save Thousands of Dollars

Do You Want to Save Thousands of Dollars?

When first time clients or potential clients talk to our financial advisors in our Perth office, the conversation usually turns to a common question: “How can I save money?” While we can’t give specific advice here and recommendations will be general in nature, it is safe to say that most people have resources they don’t know they have.

When we don’t budget properly and don’t watch where our money goes, we spend a lot of money we don’t know we’re spending. Often, it is on things that we don’t really need. A recent study by moneysaverHQ, part of News Corp Australia, revealed that the average Australian could save $8,000 a year by substituting less expensive alternatives for popular discretionary purchases.

Recent ABS statistics show 3% annual inflation, the highest since 2011. Alcohol and tobacco are up 7.1%, education is up 5.1%, health is up 4.9% and recreation and culture are up 3.3%.

How to Save Painlessly

Here are the moneysaverHQ suggestions on how to save money every day and how much they will save the average Australian.

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News Retirement Planning with Financial Advisor in Perth

Approaching Retirement? You May Want to Try These Money Moves!

If you have talked about retirement planning to a financial advisor in our Perth office, you probably know how diligent and thorough we are in helping our clients leave nothing to chance when planning their futures. While we never give specific financial advice in blog posts due to the individual and unique nature of every financial situation, we would like to present some general actions that are worth consideration for anyone approaching retirement.

Pay Down as Much Debt as Possible

Ideally, you could start your retirement with a “clean slate,” owing nothing. We know that life is not always ideal, but paying off debts is a great place to start for most Australians.

Pay Off Your Mortgage

If you own your home free and clear, you are free of what is usually the largest monthly financial responsibility for any family. It is a lot easier to enjoy retirement when you don’t have to make a house payment every month

Set Your Affairs in Order

This means filing a last will and testament. In the event of your untimely death, your heirs will need access to your money. Lack of a will can cause it to be tied up in court. It will save a lot of grief for your survivors.

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News Choosing the Best Financial Advisor for Your Needs

Choosing the Best Financial Advisor for Your Needs

Choosing a financial advisor in a city like Perth can be daunting. There are so many that it can be difficult to know who is legitimate and who isn’t. Sometimes it seems like anyone can hang a sign on a door and tell people they are a “financial advisor.” Here are some tips to finding the perfect financial advisor for your needs.

Trustworthy Firm

You want a financial advisor who works for a trustworthy firm. This can be a local firm or it can be a national firm. Whatever the case, you want your financial advisor to work with a firm that has a track record of success. You want a financial advisor whose company has much more to lose by misleading you than they have to gain.


You want an experienced financial advisor. If you do get a beginner, you want to make sure that they are being mentored by someone else in the company with a lot of experience. The stronger the company behind the advisor, the more likely it is that the advisor is subject to constant review and feedback to ensure high quality performance.


You want a firm that has a great reputation for obtaining results for their clients. This is usually the result of a variety of factors, leading to the next requirement.

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News Be A Budgeting Expert with Financial Planners Perth

Can You Be a Budgeting Expert?

If you talk to any professional financial advisor in Perth, one of the first things they will suggest to you is that you create a budget and stick to it. A lot of people are overwhelmed at first, but if you use these five simple steps, it is a lot easier than you think. You may even become an expert.

Monitor all Spending

You want to know where every dollar of your money goes. Most people have no idea what they spend their money on and are shocked when they actually keep track of it for a month. If you have the last month’s receipts and bank statements, go through them. If not, document everything you spend for a month and then see what you come up with.

Add Up All of Your Debt

Make a list of every single debt you owe and who you owe it to. How much are you paying per month? Put your debts on a priority list, starting with the highest interest first.

Make a Realistic Budget

To be realistic, write down what you need first and then figure out how much it costs. Hopefully, it won’t be more than you make. The best scenario here is that you will find out you are spending a lot more than you need to and that you can have money left over to start paying off debts.

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News Taking Care of Our Finances

Do You Control Your Money or Does Your Money Control You?

Financial planning doesn’t sound too difficult on the surface. In a city like Perth with high income level and a booming property market, one would think that we are all great at planning our budgets and finances. Recently, the owners of a website called compiled the latest statistics about credit cards and debt.

The numbers should be enough to convince you that many of us could use some professional help in taking care of our finances.


Total personal financial insolvency rose 6.11% for the March 2014 quarter over the same period in 2013.* 4,932 Australians declared bankruptcy in the quarter, which was 3.31% more than the same quarter last year. Debt agreements for the March 2014 quarter rose to a record high of 2,678.

Western Australia, along with Queensland, had a record number of debt agreements in the March 2014 quarter. WA’s number of personal insolvency agreements rose 19.47% over the March quarter of last year.

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News Life Expectancy - Key Factor in Retirement Planning

Life Expectancy: the Key Factor in Retirement Planning

Although we call it financial planning, a great part of what we do is retirement planning for our clients in the Perth area. If the recent Financial Services Inquiry (FSI) report is any indication, it will be even more important for every Australian to hire a financial planner at some time during the process of preparing for retirement.

While an increase in life expectancy is obviously seen as a very good development for most people, it has one major downside. Your retirement income has to last longer than it would with a shorter life expectancy.

The real surprise in the report is that Australians tend to underestimate their life expectancy by an average of seven years. Those who are 65 years of age and retiring can now have a reasonable expectation of living to be 90 years of age. One out of ten females who live to be 65 will live to be at least 100 according to the Australian Bureau of Statistics’ (ABS) Australian Life Tables (ALTs).

The Pitfalls of Retirement

If it were just a straight mathematical equation, it would be easy to figure out how much money each individual would need for retirement to sustain their preferred lifestyle. However, there are many factors that go into what will happen to your superannuation fund as you get further into your retirement years.

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News Choosing the Best Income Protection Insurance

Tips for Choosing the Best Income Protection Insurance

Why you may need income protection insurance and how to decide which level of cover you want.

If you are like most of us, you work for a living. Your income and livelihood depend upon being able to work every day. Most of us take it for granted that we will continue to be able to get up and go to work tomorrow and for many tomorrows to come. But what happens if you get sick or injured so badly that you can no longer work?

Who is going to pay your mortgage repayment? Your car payment? Who is going to buy food and pay the utility bills? If you have income protection insurance, you may receive up to 75% of your weekly income while you are unable to work. There are many different levels of coverage available, with the cost of the policy generally rising as the length of cover does.

How is Income Protection Insurance Different?

Income protection cover provides regular payments if you become unable to work. This helps you meet your monthly expenses. Life insurance pays your beneficiaries: not you. Total and Permanent Disability only pays when your disability is permanent. Trauma insurance pays for specific events or illnesses.

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