Apr42023
Retirement Planning What Are The Biggest Financial Mistakes That Retirees Make

What Are The Biggest Financial Mistakes That Retirees Make?

Retirement Planning

 

What Are The Biggest Financial Mistakes That Retirees Make? Retirement is a transition that we cannot avoid, and all of us will eventually have to face it. When approaching retirement, it is essential to be mindful of any financial mistakes that could derail our plans. The consequences of making a financial mistake can be more severe than when you are still earning money and in your prime. Unless you have started early and built up significant assets, you may need to be more realistic in your lifestyle expectations and take steps to minimize the chance of getting caught up in the common pitfalls that lay in waiting for the unsuspecting retiree trying to “catch up”. In this article, we will talk about the biggest financial mistakes that retirees make and what can be done to avoid them.

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May302022
News

End of Financial Year Housekeeping

News

As we rapidly approach yet another end of financial year it may be timely for you to consider a little financial “housekeeping”. We have therefore listed a few important considerations depending on your own circumstances.

Superannuation

Firstly, for many individuals Superannuation is often an important consideration at this time of year. So, let’s look at some of the important issues remembering that this may not be relevant to your personal circumstances so it’s very important that you talk to your adviser to determine if they are relevant to you.

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Aug62021
News

WA Economy Update

News

Western Australia is heading for a turnaround.

This is the consensus from the expert panel (REIWA, CBRE, Herron Todd White & Resolve Finance) at a presentation to MFAA members on Wednesday.

Why? Due to these indicators;

• A turnaround in population growth – slow but steady
• Unemployment rates decreasing (blue line on graph below)
• New Infrastructure (train lines, road improvements)
• Mining sector turn around – new mines creating new jobs
• Migration decreasing as new jobs created in WA
• Shopping centres – redevelopment & new centres (Mandurah Forum, Belmont Forum, new centre linked to the airport, and Madora Bay).

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Jun222020
Customer SurveyNews

Customer Survey from David Burnell

Customer Survey, News

1. Overall, how satisfied were you with my services?

Excellent

2. On a scale of 1 to 5 (1 being very poor, 5 being exceptional), how would you rank your overall experience with me?

5

3. What elements of the service I provided most impressed you?

Great communicator who explained each step of the process very well.

4. Are there any improvements to my service I could make?

Understanding of your needs: Excellent
Knowledge and explanation of products: Excellent
Courtesy and friendliness: Excellent
Communication (i.e. keeping you up to date): Excellent
Quality of service: Excellent

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Sep72017
NewsMortgage Broking Reduce mortgage payments overall by paying more in today

10 Ways to Reduce Mortgage Repayments

News, Mortgage Broking

As mortgage brokers, one of the most common questions we are asked is: “How can I reduce mortgage payments?”

So we sat down and distilled what we do into this guide, “10 ways to reduce mortgage repayments“.

Your mortgage consists of:

  • principal – the amount you borrowed to buy your home
  • interest – the amount you pay your lender and
  • fees for arranging and having the mortgage facility

The interest on a mortgage is substantial because you are borrowing over such long periods of time.

For example a standard variable 25 year loan of $350,000 at 6.25% interest would cost $692,652.85 – with nearly half the total cost being interest.

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Aug172017
Superannuation FundInsurance ProtectionNewsRetirement Planning superannuation statements in Australia

Superannuation Statements – What to Check

Superannuation Fund, Insurance Protection, News, Retirement Planning

Last financial year’s superannuation statements are hitting your mail boxes over the last week.

It is important that you check your details are correct. 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 the niceties in life. Chances are you will be relying on your superannuation for a better quality of life in your retirement.
  • Are all this year’s superannuation payments showing on your statement?
    Only recently we had a client whose superannuation guarantee payments from his employer were going into a different fund to the one he thought. And in rare cases, unscrupulous employers have been known not to make their payments at all even though they have a legal requirement to do so.
  • Do you have insurance within your superannuation (life, income protection or total permenant disability)?  Is it still sufficient for your needs?
    Remember that insurance premiums within your super fund are paid from your superannuation returns rather than billed to your directly. This makes them a convenient form of extra financial security, but one which it is easy to overlook.
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Apr272016
NewsInvestment Planning Investment Planning Firm Announces Global Infrastructure Platform

Global Infrastructure Platform from AMP Capital Garners $1 Billion USD in New Commitments

News, Investment Planning

If you are interested in investment planning help here in the Perth area, you may be interested in some recent developments from our parent company, AMP Capital. The AMP Capital global infrastructure platform recently added more than $1 billion USD, bringing it closer to its final close of $2 million USD.*

For its second and third closes, the Global Infrastructure Fund raised close to $400 million USD cumulatively. When the investor commitments are combined with an existing portfolio containing a diversified selection of European infrastructure equity assets, the platform has amassed more than 75% of its target.*

According to Boe Pahari, who is the Managing Partner of the AMP Capital Global Infrastructure Fund, “Investors….understand the many benefits that infrastructure provides to a portfolio.” These include: inflation and GDP linkage, high yield, low volatility, as well as low correlation with equities. Mr Pahari is encouraged because of the “increasing demand” for the platform.*

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Apr262016
NewsInvestment Planning Climate Change a Factor in Investments

Is Climate Change a Factor in Investments?

News, Investment Planning

Investment planning in Perth and beyond has been introduced to a relatively new factor in potential investment performance: climate change. More specifically, greenhouse gas emissions are an important factor in evaluating Australian and global equity portfolios.*

Ian Woods is the Head of Environmental, Social and Governance Investment Research for our parent company, AMP Capital. Recently, Mr Woods published an insight paper on the AMP Capital blog called “Greenhouse gas emissions: risks and challenges for portfolios.” We would like to share some of his thoughts on the subject with you.*

Mr Woods used the Paris Climate Change Agreement as an example of a global commitment to acknowledge climate change. He feels that both companies and investors need to assess, communicate and manage risks posed to them by climate change.*

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Apr222016
NewsFinancial Planners Financial Planners on Sharemarkets

Have the Sharemarkets Bottomed Out Yet?

News, Financial Planners

At Approved Financial Planners in Perth, we have more than 40 years’ combined experience in the financial industry. We also have the full resources of our parent company, AMP Capital. One of the best resources AMP Capital has made available to us is their Chief Economist and Head of their Investment Strategy Team, Dr Shane Oliver.

Recently, Dr Oliver wrote an article on the AMP Capital company blog called, “Have we reached the bottom?” It is a concise analysis of our current economic situation and contained his projections for the near future. We would like to share some of his ideas with you.*

The Reserve Bank of Australia (RBA) left the interest rate on hold at 2.0% during their first meeting of 2016. Dr Oliver believes their reasoning to be “reasonably solid economic data within Australia” and “global economic turmoil.” He also projects another rate cut of 0.25% to provide more relief for the Australian economy.*

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