The start of a new year usually heralds change. For some family leaders, changes in relationships and a range of external influences affecting family members have them concerned about potential impacts on family wealth.
According to a recent survey conducted by *Netwealth, wealthy Australians like to plan. Typically, they are highly educated, highly paid professionals or senior managers and while they are aged from 45 years, on average they are 60 years old. They proactively engage in their financial affairs and a very strong 64% consider themselves financially resilient.
Superannuation can be complicated and that’s mostly because there are lots of rules which provide restrictions, but there are also opportunities. For example, the opportunity to withdraw then recontribute superannuation can improve outcomes for adult children as beneficiaries of their parents estate, and benefit retired couples who may need to share superannuation.
Over the years we’ve often discussed home loan offset accounts and the financial planning flexibility this common facility can provide. In this article, we review the benefits, explain what makes an offset account different from a redraw facility and address whether you should, or shouldn’t, close your offset account once your home loan is fully…
We’d like to take you back to when you first sought financial advice. It may have been in the last year or two or perhaps it was 15 or 20 years ago. Regardless of the time lapse, there would have been a particular reason, and it’s very likely that reason remains the key purpose and…
Our emotions are closely linked to our money. When we feel we’ve got enough, we feel good. When we don’t…well we can feel worried and sometimes stressed. It’s normal to become financially emotional from time to time.
Financial advice is important, especially now when the cost of living is high, interest on home loans is soaring and savings rates are also increasing but more slowly. As financial advisers, our role is to help you understand your money so you can use it to achieve what really matters to you throughout your life.
According to a survey about the value of financial planning advice , non-advised Australians are missing out big time, and not just on wealth benefits. It seems their emotional well-being is also adversely affected as they worry about money and a lack financial control in their lives.
As parents you want to help your kids. But emotional lending to family members could be a recipe for disaster, especially if you put your own financial position on the line. Taking stock and giving careful, rational consideration to the lending circumstances is crucial as you step into a Bank of Mum and Dad (BoMaD)…
It’s been over a decade since we’ve seen interest rate rises. For many people, this is a new experience that will undoubtedly affect their financial planning. Mortgage holders who have previously watched rates drop to an historical low will have to find an additional $797 per month on an average $610K loan.