Out of sight…Out of mind– Invisible Money
I remember receiving my first pay packet. I rushed home and counted out the total, immediately putting some aside for spending, some for saving and unfortunately, some went to my parents for my first ‘rent’ payment. The act of handing money made me aware of how much I had at all times. The balance each […]
ATO guidance regarding ‘downsizer contributions’
The ability to make ‘downsizer contributions’ effectively commenced on 1 July 2018, prompting the ATO to release further guidance with respect to this new superannuation contribution classification. This new measure will be of most assistance for individuals approaching retirement, where they dispose of their family home in an effort to ‘downsize’ and they want to […]
The nitty-gritty of financial goal setting
There is plenty of advice out there about why you should save for your future, but little that explains exactly how. One of the problems when discussing wealth creation and retirement planning is that it usually involves words rather than numbers. People say they want to ‘build a retirement nest egg’ or ‘make sure I […]
What the super housing measures mean for SMSFs
The ATO has reminded members of SMSFs that they will be able to use their voluntary super contributions to assist with buying their first home, or to make a contribution into their super from the proceeds of the sale of their main residence (under changes passed by Parliament in December 2017). The First Home Super […]
What is your current level of Life Insurance?
Have you had a look at your current level of life insurance lately? Yes, I know some of you will say ‘I have got insurances through my superannuation fund, so that should be enough – it will be fine’. If this is what you are thinking – please grab your statement now and have a […]
No need to actually ‘downsize’ for ‘downsizer contributions’
From 1 July 2018, individuals aged 65 or over may use the proceeds from the sale of an eligible dwelling that was their main residence to make superannuation contributions (referred to as ‘downsizer contributions’), up to a maximum of $300,000 per person (i.e., up to $600,000 per couple), without having to satisfy the age or […]
Let’s talk about insurance!
We all insure our cars (we even insure our pets), but how many of us have Life, TPD or Trauma insurance? Who is going to fund your ongoing living and medical expenses if you have to take time off to recover from sickness or injury? How are you going to fund your lifestyle if you […]