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Home modifications may help an elderly person to stay in their home for longer by making the home safer and more accessible. In some cases, this may be the difference between accessing care in your own home and needing to move into residential care.
Much like exercise and eating well, your financial wellbeing is key to living a happy and healthy life. So what is financial wellbeing and how can you improve yours?
In 2020 COVID-19 has introduced significant health risks and changes to family life. It’s now more important to have an estate plan so you can make sure your family and loved ones are looked after should you become ill or die.
Superannuation is a handy way of saving for retirement, so that you’ll have an income to live on once you’re no longer working.
As lockdown restrictions begin to ease Australia-wide, a new normal is emerging for businesses and employees.
Is Buy Now Pay Later a blessing for consumers seeking credit without the hassle of a card application? Find out about the pros and cons of this type of borrowing.
It’s that time of year again – a brand New Year and maybe your resolutions are already looking shaky.......
A cursory glance at major asset class investment returns for the year 2020 as a whole may reveal little that was exceptional.
The first week in November, always notable due to the running of the Melbourne Cup, can also be more significant than most for financial markets.
Given the wild and unprecedented daily swings in share market valuations we have witnessed over recent weeks, it is clearly apparent there is not a strong market consensus as to what shares are worth in the midst of the current crisis.
Helping parents make the transition into supported living can be challenging, but forward planning and open communication can help everyone. Here are some things to consider together.
On 1 September 2020, legislation passed to extend the JobKeeper scheme through to 28 March 2021.
During times of heightened investment market volatility, it’s human nature to wonder if savings should be moved to so called “safe havens” like cash or term deposits (TDs). This is especially the case if we are nearing retirement, when the sudden fall in the value of your assets is particularly galling after years of careful money management.
Legislation has passed that will enable people aged 65 or over to make additional super contributions of up to $300,000 per person from the proceeds of the sale of their home from 1 July 2018.
The HomeBuilder program has been announced to help drive economic activity across the residential construction sector by providing grants of $25,000 to eligible owner-occupiers for new home construction and substantial renovations.
One of the first things you come across when moving into residential care is the need to pay for your room.
With quoted prices of up to $2 million, the numbers may send families into panic. However, they can be less frightening if you understand how these fees work and what choices you have.
So, what are the four (4) key points that you need to know?
Most of us think of estate planning as simply writing a will. However, ensuring your assets are distributed according to your exact wishes after you pass away can be more complicated than that.
We get to meet some terrific people in our line of work but more often than not there is a common theme. One of the most frequent comments to us is: - I wish I'd done "this" sooner.....
The progressive decline in investment income that has characterised much of the past decade is set to reach its nadir this year.
It is in July, the month following the end of the financial year, when many investment funds pay out their largest amount of income.
However, this July, investors may experience a significant drop in income distributions as a result of a combination of the following factors:
Legislation has passed that will enable eligible first home buyers to save for the deposit in the concessionally taxed superannuation system, using the First Home Super Saver Scheme (FHSSS or scheme).
Legislation has passed that will enable eligible first home buyers to save for the deposit in the concessionally taxed superannuation system, using the First Home Super Saver Scheme (FHSSS or scheme).
A number of measures have been put in place to support Australians in response to the Coronavirus.
This includes broadening early access to superannuation savings under compassionate ground - coronavirus.
Interest rates in Australia have reached historic lows, with the Reserve Bank of Australia lowering the cash rate to an unprecedented low of one per cent in July this year.
This has flow-on effects to assets that are traditionally considered safe, such as term deposits, which pre-retirees and retirees have traditionally used to generate income.
Winston Churchill's quote of “…never waste a good crisis” provides a clue as to what Abraham Maslow can provide to us and what we are expiriencing now in our everyday actions and conversations.
When it comes to getting professional advice on money matters, should you be looking for an accountant or financial planner? Find out how they’re different and what services each one offers to help you manage your finances.
When you’re looking for help on anything to do with money, finding the right person to turn to for advice can be a challenge. According to a recent report from CPA Australia, changes to regulations in financial services are making it even harder for Australians to know who can offer them quality professional advice on their finances.
Priorities can change as we get older.
The financial concerns that nag away in the background throughout our working lives may start to fade away, replaced by other priorities like personal health. But with more people living longer, and staying healthy well into their retirement years, a growing number are looking for new purpose in later life.
It’s never easy to plan and balance your finances. In fact, many people find this a very difficult task. Fortunately, there are professionals who can help make things easier for you. You might be currently asking yourself – do I really need professional services? Good financial advice shouldn’t come from just anybody. It is in your best interest to get assistance from the right experts. We’ve listed some of the top reasons why you should get financial services from a professional.
I know them, you know them, we all know them. Which is hardly surprising because, my dear fellow Australians, they are everywhere.
Oh, yes, for at least a decade now this new tribe has been silently, purposefully, militantly assembling in suburban lounge rooms plotting their next adventures between pots of tea and plates of pikelets. And if you don’t know what a pikelet is then you’ll never be admitted to this group’s most sacred and secret meetings.
Sinking global financial markets and worries about the US-China trade war are prompting some Australians to wonder whether their superannuation sits in the right investment option.
Share markets in the US, Asia and Europe have dropped up to 8 per cent in a month.
Aussie shares have climbed since the election but several analysts say our stocks now look overvalued.
When US air force pilots were struggling to control their planes in the late 1940s, officials were mystified. With 17 crashes recorded in a single day, it was happening too often to be pilot error but engineers frequently found no technical or mechanical defects. Attention finally turned to the physical design of cockpits back in the mid-1920s and whether the size of pilots had changed.
Using data from more than 4000 pilots, a researcher set out to determine how many pilots were average size. Using the 10 most relevant physical dimensions — including chest circumference, height and sleeve length — he plotted the size of this “average” pilot.
Our chances of living longer are increasing as life expectancies continue to increase. This is dramatically increasing the number of older Australians and will transform Australia economically and socially over the next 40 years.
It’s a brand new year, so why not make a fresh financial start?
Achieving your financial goals isn’t simply a matter of earning more.
It’s also about investment planning and making your money work smarter for you.
Your retirement years are a chance to relax, rejuvenate and focus on the people and activities that matter most to you. But retiring is also one of the most significant life changes you’ll ever make, and adjusting to life after work can be hard.
Run the slide rule over your finances recently?
If you were born in the 1960s, you’re now either in your 50s or fast approaching them.
If you have children, it’s possible they’ve reached adulthood and may be preparing to fly the coop.
Your sixth decade is, generally speaking, a time to consolidate your position and ready yourself for retirement. It makes sense to check you’re on track financially and, where necessary, seek advice that takes into account your personal circumstances.
So what is Investment Planning
No one invests their money to make a loss….but a poor roadmap can magnify bad investment decisions.
Fundamentally, investment planning is identifying a strategy, a specific investment or product and then placing your hard earned money by way of
Working out how to achieve your financial goals is easy and you don't have to earn a high income to do it.
Whether you're looking to get your affairs in order, buy a house, start a family or prepare for retirement, seeking quality advice from a qualified financial expert can help you achieve your goals sooner, and with more confidence.
The death of a parent can be a hugely distressing time. It may also mean coming into an inheritance.
Working out what to do with an inheritance isn’t always straightforward, so here are some tips on how to approach it.
Have you given yourself a financial health check recently? If you’re an Australian in your 40s, there are some important things to consider.
Life begins at 40, the old saying goes.
For many 40-something Australians juggling the demands of work and family, the fifth decade is one of life’s busiest. If you’re in or preparing to enter your 40s, it makes sense to evaluate how you’re travelling financially as you begin life’s ‘second half’. Here are some of the things that may be due for review, depending on your personal circumstances.
Marriage breakdown can be highly traumatic and brings a whole new set of issues when it happens later in life. As well as the emotional challenges, there are practical issues to tackle, not least your finances. It’s all the more reason to get organised – a little bit of planning could help you take control of your financial future.
The severe falls in global share markets in late 2018, after almost a decade of strong market returns, led many investors to ask whether it was too risky to stay invested in the share market during their retirement. If they did stay invested, should they move to a strategy with less exposure to higher risk investments, like shares?
It can seem daunting, but you’ll definitely feel the benefit once you’re ‘the boss’ of your own finances.
It’s all about getting better at managing your spending and identifying opportunities to grow your wealth. Add in the goals you’re saving for and it can even be exciting.
Five areas to focus on......
Ready to take the leap into home ownership? It’s worth doing your homework first.
Buying your own home can be overwhelming – hardly surprising given it represents one of life’s biggest investments. Our buying tips aim to make the whole process a little less daunting – while ensuring you’re thoroughly prepared.
10 things to consider when buying a home
Viewed by many as an added long-term expense, its natural why most people are hesitant to acquire income protection insurance. Often, there’s a need for a change in perspective from seeing it as a cost to an investment so the need for income insurance can be properly assessed. Before delving into why it may be essential, let’s begin with establishing a firm understanding of what income protection is and why a person would choose to get insurance.
ou would have heard the saying: “where there’s a will, there’s a way”.
This statement is usually used to encourage people who are losing enthusiasm for a task or goal.
But it also reflects the way many people feel about estate planning. They think that so long as you have a Will, you have a way to ensure your wealth is passed correctly to your loved ones.
But this is not necessarily the case.
Redundancy unfortunately affects more and more Australians. With the right approach and professional advice, however, it could open up opportunities and work in your favour.
Even though redundancies are often part of business, being told your role is redundant can throw your plans into disarray and leave you feeling blindsided. The key is not to panic.
People often discover that a redundancy can open doors to new financial and lifestyle possibilities.
As a general rule, the earlier you begin retirement planning, the better your future is likely to be. It’s now commonly accepted that in the not too distant future, the government pension won’t be enough to comfortably live on. The pension is certainly something you should not rely upon in your senior years.
Given the financial demands of everyday life, planning your retirement may be a relatively low priority.
You may also think that you have plenty of time to plan.
But before you put off planning for your retirement any longer, here are some key facts you should consider.
Selling a small business can be a challenging, complicated and uncertain time.
So too can retiring.
Combine the two and you have a situation where early planning and advice is critical.
Having a clear goal is the first crucial step in building wealth for the long term
These tips courtesy of Peter Switzer, Founder and Publisher of the Switzer report, lists seven habits to set you up for financial success
We’re already into 2018 — are your resolutions still on track?
If you’ve slipped up already, here’s how to revive your resolutions and make them stick.
According to a recent study, only 8% of people in the US achieve the goals they set on New Year’s Eve(1). But before you lose heart and pick up that chocolate bar or light a cigarette, consider these top tips to help you stick to your resolutions this year.
rom saving to borrowing to invest, we discuss how to plan for the rising cost of education.
With private school fees reaching tens of thousands in the large capital cities, many families are keen to look at ways to provide for their kids’ education. Here are some steps that may help get you started.
When watching the Asian Cup recently I was reminded of a saying that was preached to me a long time ago by one of my early coaches....
As we approach the end of another year many people will be looking forward to the festive season and the chance to slow down and catch up with family, particularly elderly parents. Busy lives and distant homes can make it easy to feel out of touch. Sadly, at this time of year adult children may also begin to notice changes in their ageing parents.
lanning for your future is one of the most important things you can do for yourself and your loved ones. You should first consider your lifestyle goals and priorities. These will help provide direction for your financial ambitions and will therefore allow you to plan your finances accordingly.
As a general rule, the earlier you begin retirement planning, the better your future is likely to be. It’s now commonly accepted that in the not too distant future, the government pension won’t be enough to comfortably live on. The pension is certainly something you should not rely upon in your senior years.
Now is as good a time as any to review your current financial situation and put a plan in place for the next 12 months.
Sorting out your finances doesn’t have to be complicated, as even small savings can add up over the year.
Here are 10 tips to help you get started.
ust wanted to share a little bit about the danger in challenging popular thinking when calling things out to clients that I know doesn't make sense despite that some want to believe the consensus of the day.
At Warringal fs we call it "being your unreasonable friend"
According to a recent study, only 8% of people in the US achieve the goals they set on New Year’s Eve(1). But before you lose heart and pick up that chocolate bar or light a cigarette, consider these top tips to help you stick to your resolutions this year.
I've seen some terrific leaders, managers and contributors during my 25+ years in business management and
as an accredited football (soccer) coach, I can say the same about coaches, managers and players
- and we have a number of common personality traits
For me the recruitment and retention equation is simple: good people + good processes = better outcomes for clients and, in turn, better profitability for your advisory firm.