As women, we will retire with on average half the superannuation balance of men (ASU study ‘Not so Super For Women’ 2017).
“A woman’s best protection is a little money of her own” – Clare Boothe Luce
Below is a great article from the ABC about what’s going on in the Australian economy, and more precisely, why you probably won’t be seeing a salary increase any time soon.
Don’t feel disheartened if you’re struggling to find work after completing study – it takes longer than you think. Check out the article below:
Almost finished uni? Thinking about a career change? This article from the Foundation for Young Australians outlines what key skills employers are looking for right now:
Here’s a great clip from the ABC about how you can prepare for the end of this financial year. Hope you’ve ticked all the boxes!
This type of contribution can be another smart strategy to make your finances work for you. By making personal contributions to your super, you may be able to claim a tax deduction to reduce your tax liability.
The co-contribution is a payment the Government makes to your superannuation if you are in the low to middle income thresholds and make voluntary after-tax contributions to your super. Generally, income thresholds are indexed each year and the matching rate is up to $0.50 for every $1 you contribute (up to a maximum of $500). This is an incentive for you to contribute to your super.
Super contributions splitting generally allows you to split up to 85% of your employer super contributions and personal deductible contributions with your spouse.
Salary sacrifice is an arrangement between you and your employer where you agree to forgo part of your before-tax salary in return for your employer making super contributions of the same value.
With June 30 fast approaching, we’ve put together a series on the strategies available to you and your family to make your finances work for you. These posts will be a taster of the options available to you – remember to check with a qualified adviser before you make any big changes!
It’s one of the most frequently mentioned strategies in wealth creation – start early! But what does that look like for the younger generation who are now working and earning and spending?
It’s that time of year again – and for those of you less than interested in trawling through the Federal budget documents and reports, here’s a great link from the ABC on what this budget means for Australians:
Welcome to the first post of our handy series Understanding Financial Concepts.
On the fence about seeking financial advice? Watch a client’s story to see the real-world impacts of good advice.
The changes to superannuation and tax laws proposed in this year’s federal budget, then revised and adjusted by the government in September, have been passed through Parliament and are mostly due to take effect from July 1, 2017. That means that you have until July to consider if there is any action you should take to make the most of current superannuation rules or to comply with the upcoming changes.
There is no doubt that the rising cost of living continues to make life challenging when you’re trying to manage your household budget.
We’ve been seeing a lot about downsizing in the news and media these past few weeks – here, the ABC take a look at one couple who made the call to sell after almost half a century in their Canberra home:
Concurrent with our Retire Successfully series, our parent organisation has released a great ebook on all things retirement – and you can access it for free!
You might retire sooner than you think
In October we ran a series of focus groups asking our clients about their retirement experiences. Their stories, thoughts, tips and hints will be making up an entertaining and useful collection of articles on our blog for the next few weeks.
You might have heard of the ‘Powerball Pensioner’ – Gloria MacKenzie, who hit the big time at age 84. The Florida resident won almost $600 million in the lottery, one of the biggest undivided jackpots in history.
Don’t get caught offside when the pension rules change
For many of us, January is a great time to recoup and refocus following the holiday period, and get started on all those things we want for our new year.
Back in October, we started working on a project about retiring. Because retiring, as many have found out the hard way, isn’t as easy as it’s often made out. There’s a lot to get on top of financially and personally: it’s literally one of the biggest life steps you could take!
If you’ve been keeping up to date with the news, you’d know that this week’s uproar has been about a columnist’s comments on Australia’s youth spending more on fancy avocado toast than they save for their goals.
As retiring is a big change to your lifestyle and circumstances, it’s understandable that pre-retirees have a lot of questions. Let’s see what we can do to answer some of them.
Are you thinking about retirement? Are you trying your best not to think about retirement? Curious, or concerned?
Diversification – key to your portfolio and your picnic menu!
We’ll start with the basics: what is an annuity?
If you’ve been anywhere near a shopping mall recently, chances are you’ve seen a ‘SALE!’ sign or two – or three – in fact, if you look, discounted items are becoming more and more common across Australian retailers.
This week in Understanding Financial Concepts – the mysteries of Enduring Power of Attorneys.
Increasing the number of members subject to a higher tax (up to 30%) on concessional (pre-tax) super contributions. This applies where income is above $250,000, down from the current threshold of $300,000
While it may not be the right choice for your portfolio right now, it’s good to have the information under your belt for the future!