How can I safeguard my ability to pay off my home loan? It’s not unusual that life can be smooth sailing one minute and throw you a curveball the next. You might be hit with an injury or illness, a reduction in income or redundancy, a separation from your partner, or even a death in the family—all of which can be difficult, emotionally as well as financially. If you happen to owe money on your …
Gut instinct is no match for expert advice By Paul Clitheroe 6 February 2017 One of the marvelous aspects of living in the digital age is the ready availability of information. It’s a far cry from the days when we often made decisions based on a hunch, and that’s just as well. Research by broking group Mortgage Choice confirms that one in three Australians have regretted a financial decision based on gut instinct. When it …
How to cope with losing independence If you or a loved one is experiencing a loss of independence, you may be able to maintain a sense of control. Few, if any of us, look forward to losing independence. In fact, research reveals that 75% of older people feared losing independence while only 29% feared dying1. It also revealed that 44% were worried about moving into an aged care facility. Whether a physical, social or emotional …
What’s your debt age now? The types of debt we have largely depends on our age and stage in life. For most of us, having debt in some form or another is an inescapable fact of life. And despite its reputation, debt is not necessarily a dirty word. If managed well, it can be a powerful tool to build wealth, and good debts, such as those used to invest in an asset which increases in …
What financial records do I need to keep? Ever feel like you’re drowning in a sea of paper? Tame the paperwork today and reap the rewards tomorrow. Life can be complicated enough without all the administrative paperwork that often accompanies it. This is particularly true when it comes to your personal finances. If stacks of old bank statements, utility bills, receipts, insurance and superannuation documents mean you can’t see the trees for the paper, de-clutter, …
Home equity – the $500 billion resource for seniors The latest round of figures showing rising home values in almost all our state capitals highlights how many Australian retirees could have a valuable resource at their fingertips. Older Australians, who may not have enjoyed the benefits of employer-paid super for their entire working life, can face the prospect of a lean retirement. However, one area where over-50s often have an advantage over their younger counterparts …
Why goals succeed where resolutions fail By now school, work and daily routines may be ruling your week once again. And if you made any resolutions over the holiday season, chances are you’re probably slipping back into your old ways. Don’t worry. Researchi has proven resolutions rarely work. Mainly because resolutions tend to expect us to change habits we’ve built over a lifetime, overnight. Psychology professor Peter Herman calls them the “false hope syndrome” because …
Make the most of the current super caps Consider John and Jane’s story before new rules limit your super contributions and pension transfer options. John’s aged 65 and Jane is 60—they’re both about to retire. John has super assets totalling $2 million and Jane’s super balance is $300,000. Because neither has made a non-concessional contribution (NCC) recently, the three-year bring-forward rule hasn’t yet been triggered. That means John and Jane have a chance to take …
Give your career a health check Health… check. Finances… check. Career… check? Are you happy at work? Do you jump out of bed excited about tackling your next project? Or are you counting down the days until your holidays or retirement? If you answered ‘yes’ to the last question, it might be time to give your career a health check. We all know the benefits of having regular medical check-ups but, just like your body, …
Estate planning and why you need a super plan When it comes to passing-on your super money, you need to put specific plans in place so the right people end up with it when the time comes. You’d probably rather be doing something other than thinking about your own mortality. But because your super can become a significant amount of money, you’ll want to make sure it goes to the right people when you die. …
