SMSFs: Are they worth the effort for average investors? The option of controlling your own financial destiny in retirement, by setting up a Self-Managed Super Fund (SMSF), appeals to many Australians. There are around 650,000 SMSFs operating in Australia, with over one million members and estimated assets of more than
The essential ingredient of a financial plan Here’s a recipe for a basic financial plan: Take one or more income sources and pour into a big pot. Add appropriate amounts of life, income protection and permanent disability insurance. Simmer for a few decades while slowly adding superannuation contributions and a
How the family home can affect aged care fees Residential aged care is playing an increasing role in helping many older Australians enjoy comfortable and carefree lives. However, one of the tasks for anyone assisting an elderly relative with the move into aged care is to investigate the various fees
SMSF – The next Gen While self-managed super funds have long been the preserve of older Australians with time on their hands and large superannuation balances, new data suggests that younger Australians are increasingly choosing to take direct control of their superannuation savings. According to the Self-managed Super Fund Quarterly
Balancing Life, Work and Money Work-life balance. It’s something everyone seeks but achieving it can seem an impossible task. Not only does the ideal balance vary from person to person, it can change frequently throughout life. If your wheel of life has developed a wobble, it might be time to
Separation Planning: An adviser’s perspective Few client meetings have been as challenging. After years of being happily married, Sarah and her husband decided to separate, and the story of her acrimonious divorce was certainly distressing. It started with a chance meeting, where in passing, Sarah mentioned the divorce. She assured
The importance of financial literacy for young adults Facing complex financial decisions, often without adequate knowledge, can be challenging for anyone, but particularly for young people. A recent government study found that 49% of 18-25 year olds lacked the confidence to make financial decisions, while 94% aged 14-17 believed that
Stop Resting on Your (High Income Earner) Laurels Achieving a high income is a significant accomplishment. You’ve put in the hard yards, climbed the ladder, and now you’re pulling in the big bucks! But don’t be mistaken; a high income does not automatically equate to financial security. Just because the
Don’t lose your home! Alternative ways to pay for aged care Anyone who has helped an elderly relative make the move into aged care knows that it can be a traumatic experience. It involves a move from the familiar – a home that a loved one may have lived in