Another year is over – how was it for you? Did you achieve everything you’d hoped? Are you better or worse off financially than you were this time last year? With a new year in front of you, what can you do to make the most of every moment? We’ve put together a short guide to get you started and plan for the year ahead, a quarter at a time.… Read More »Make this year a financially healthy one
While cuts in interest rates are greeted with glee by homebuyers and other borrowers, for the millions of retirees and others who depend on interest payments for their income, falling interest rates can be a disaster. For them, a drop in interest rates from 4% to 3% equates to a 25% drop in income. If rates fall from 2% to 1%, income falls by a massive 50%. Add in even… Read More »Retirees’ cash flow drought
If you hate sayings like “laughter is the best medicine”, it’s time to lighten up because aside from being true, it shows that you’ve lost your sense of humour! It is said that six-year-olds laugh on average 300 times per day but by the time we reach adulthood we’ve reduced our daily giggles to just 15… if we’re lucky! So what? you might ask, what’s there to laugh at? Well,… Read More »Laughing your way to good health
In 2020 Australians reported over 7,000 investment scams to Scamwatch, well up on the 5,000 reported in 2019. Scamwatch recorded investment scam losses of $65.8 million but add-in notifications made to other government agencies and the major banks and reported losses across 2020 soared to $328 million. Due to embarrassment, many losses go unreported so we may never know the full extent of the damage. With a high likelihood that… Read More »5 tips to protect yourself from getting scammed
Sam and Sally Smith have worked hard all their lives, paid their taxes, and now they have retired, they feel they are entitled to a full age pension. Jan and Jim Jones have also worked hard and paid their taxes. However, concerned that Australia’s aging population and ballooning pension bill will make it increasingly difficult to qualify for an age pension, they have sought to be as financially independent in… Read More »A tale of two retirements – which would you choose?
A Will is a key document in your estate plan, but it’s not just a case of recording who gets what. Different assets may require different management. The executor of your estate is appointed in your Will and becomes the manager of your assets. The executor’s job is to identify all your assets, pay your debts and pass assets to your beneficiaries. As the list below shows, your estate consists… Read More »Different assets create different outcomes
Many of us would like to think that ‘older’ means ‘wiser’, but when it comes to money that isn’t always the case. The complexity of Australia’s superannuation and pension systems doesn’t help. The upshot is that there are a number of common mistakes that retiring and retired Australians make. What are those mistakes and how might you avoid them? 1. Underestimating how much you need The Association of Superannuation Funds… Read More »10 common financial mistakes before retirement
As most long-term investors know, investment markets have their ups and downs. The downs are usually associated with periods of uncertainty, perhaps due to political or economic factors, or even natural disasters. Uncertainty leads to volatility – more extreme movements in asset prices – which can have a big impact on portfolio values. This can be of particular concern if you are close to retirement and preparing for your last… Read More »Preparing for retirement
We all have a vision of our perfect retirement. But whether it’s travelling around the country in a luxurious motor home, playing golf every day or spending more time with the grandkids, how do you accumulate enough to pay for your golden years? How much do I need to live my lifestyle? Lifestyle is a personal choice. The big question is: How much do you need to save while you’re… Read More »Living your dream retirement
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