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Christmas is a time for giving and it’s so easy to get caught up in the joys of the festive season and lose track of how much you are spending. Fortunately, there are a few tried and true strategies to manage your money to see you through the silly season into the New Year and...Read More
Withdrawing part of your superannuation fund balance then paying it back into the account, known as a recontribution strategy, may sound a little strange but it could deliver a number of benefits including reducing tax and helping to manage super balances between you and your spouse. Your super is made up of tax-free and taxable...Read More
Spouse super contributions – what are the benefits?
December 11, 2023Superannuation
If your partner is a low-income earner, working part-time, or currently unemployed, adding to their super could benefit you both financially. Your partner might be accumulating little or no super at all to fund their retirement if they’re not a big-income earner, or they’re out of work or working less hours. If you’d like to...Read More
Aged care challenges in the home
December 4, 2023Aged Care
Aging at home with government-subsidised funding is made possible through the Home Care Packages program. However, a crackdown on what the funds can be used for and a shortage of support workers, can make it challenging to understand the funding available. If you are approved for a Home Care Package you will be assessed at...Read More
For decades, Australians have associated wealth with home ownership. As our country has become more diverse and inclusive, and individual Australians achieve greater freedoms, these ideas are changing. A recent study1 by AMP highlights how our definition of ‘wealthy’ is shifting – and how your bank, super fund and adviser can help you achieve wealth,...Read More
Transition to retirement
November 27, 2023Retirement Planning
Transition to retirement rules Under the transition to retirement rules, when you reach your preservation age, you may be able to reduce your working hours without reducing your income. You can do this by choosing to start a transition to retirement income stream (TRIS). The TRIS payment tops up your part-time income with a regular...Read More
Managed investment trusts
November 27, 2023Uncategorized
Check the income to declare, when to report a loss, and deductions you can claim for managed investment trusts. Types of managed investment trusts Managed investment trusts include: cash management trusts money market trusts mortgage trusts unit trusts managed funds, such as a property trust, share trust, equity trust, growth trust, imputation trust or balanced...Read More
Keeping track of your shares
November 20, 2023Wealth Creation
Monitor how your shares are performing compared to similar companies or the market overall. Stay up-to-date with company, economic and market changes. This gives you a better chance of acting quickly to take advantage of opportunities or to avoid losses. Set alerts to track share performance Economic and market changes can impact a company's earnings....Read More
Navigating complex family relationships and blended families can be challenging at times and particularly when a family member dies. A good estate plan can help to make sure your wishes are carried out when you die. An estate plan, of which a will is the first and most important part, can ensure your estate is...Read More
Diversification
November 6, 2023Financial Planning
Diversification is an investment strategy that lowers your portfolio's risk and helps you get more stable returns. You diversify by investing your money across different asset classes — such as shares, property, bonds and private equity. Then you diversify across the different options within each asset class. For example, if you buy shares, you buy...Read More