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Prepare to retire
October 3, 2023Retirement Planning
Preparing to retire is emotional and practical. Making a retirement plan can help you manage your finances, and cope better as your life and priorities change. Make a retirement plan Your retirement plan can be simple or detailed. Include: Timing — when you want to retire. This could change, but it's good to have a...Read More
Step one: what are your financial pain points? When you start making plans, chances are you’ll both come across financial pain points. In other words, the areas that need some attention and possible alterations. These might include: post-wedding or honeymoon debts different earning capacities different savings goals different spending habits disagreements you’ve had in the...Read More
On 1 July 2023, the contributions that your employer is required to make into your super fund, under the super guarantee, increased from 10.5% to 11% of your before-tax income. The outcome of this is that Aussie employees, who are eligible for the super guarantee, should have more savings in their super to help fund...Read More
Is Life Insurance Tax Deductible?
September 26, 2023Insurance
Life insurance is a crucial financial tool that can provide peace of mind and financial security for your loved ones in the event of your untimely passing. As you navigate the area of insurance planning, it’s important to consider the tax implications. At MBA Financial Strategists in Adelaide, we understand that clarity on tax matters...Read More
First Home Owner Grant (FHOG) – the basics
September 25, 2023Debt Advice & Mortgages
What is the First Home Owner Grant? The FHOG was introduced by the Federal Government in 2000 to assist first home buyers with purchasing a home. Since then, the rules around it have repeatedly changed. While the FHOG is a national scheme, it’s funded by the states and territories—and administered by each of them individually....Read More
Simple ways to save money
September 25, 2023Financial Planning
Find out how to save money every day and make a savings plan to stay on track. Separate and automate your savings An online savings account is a great way to grow your money faster. Unlike a transaction account, you can’t spend money directly from a savings account, so it's harder to dip into your...Read More
Managing the costs of raising children
September 18, 2023Financial Planning
It is a special feeling to welcome a new child or grandchild into the world and watch them grow. Sharing their joy as they reach new milestones is priceless. Of course, there is a real cost – raising a child is expensive, particularly now as the cost-of-living spirals higher. Estimates vary widely from the few...Read More
Is your mortgage still working for you?
September 18, 2023Debt Advice & Mortgages
A mortgage is a long-term commitment, which many people enter with a ‘set and forget’ mentality. Most loans are around 30 years – during which many things can change, not just in your personal circumstances but in the financial world, with the new loan products and fluctuations in interest rates. If you haven’t reviewed your...Read More
Transfer balance cap set to increase to $1.9 million
September 18, 2023Superannuation
The amount of super savings that can be transferred into a retirement pension account increased from $1.7 million to $1.9 million on 1 July this year, but not for everyone. From 1 July 2023, this limit (known as the general transfer balance cap) increased to $1.9 million. While this is good news for some, the...Read More
Trusts and the new super tax rules
September 11, 2023Superannuation
Ensuring you’ve structured your finances tax-effectively is always a concern, but with new tax rules for super on the horizon, many people with large balances are considering alternative vehicles to save for retirement. Unsurprisingly, this has sparked a renewed interest in an old favourite – trusts. Trusts have always been popular in Australia, with the...Read More