Protecting your wealth What is insurance? Insurance is a form of protection – a way to protect yourself, your family and the things you own if something goes wrong. It enables you to replace or repair your assets, whether those assets are your belongings or your capacity to earn income…. Maintaining your income What is transition to retirement? Transition to retirement is a strategy that can help you reduce your working hours while maintaining the …
What is financial wellness? How you feel, is your wellness. How you feel about your money is your financial wellness. This can be measured by the financial wellness index, which measures a person’s satisfaction with their current and future financial situation. For more information on financial wellness, please go to https://www.amp.com.au/insights/manage-my-money/financial-wellness Get more tips about managing and protecting your cash, reducing the money you owe and saving for both your big and small goals: https://www.amp.com.au/insights/manage-my-money …
How financial advice can help Even if a person has a small asset base and no funds to invest, the help and guidance of a financial adviser can be valuable. Accumulating wealth is a long-term process. It usually occurs parallel to a person’s professional, private and family life. A good approach can be to have a few key strategies in place so that wealth can grow through life’s journey. It’s perhaps more common to seek financial …
The right times for financial advice COVID-19 has created uncertainty everywhere and impacted not just our health but our wealth too. From millennials to retirees, we’ve had to review our finances and adapt to the changing environment. We’ve seen volatile share markets, slashed dividends on bank stocks, record-low interest rates and sectors like airlines, tourism and traditional retail struggling to survive. On the other hand, online shopping and e-commerce have surged, and more people are …
Finding the right level of insurance cover is important when you’re thinking about retirement. If retirement’s coming up on your horizon, the impact of COVID-19 (coronavirus) may have thrown a warehouse-sized rack of spanners in your planning. It makes sense to concentrate on things you can control, such as insurance. Too-high premiums can chew away at the foundations of your savings, at a time when they’re more important than ever. Under-insure and one …
Insurance 101: what do you need and when? There is a dizzying array of types of insurance available in Australia, although the average person probably won’t be needing aircraft or defamation insurance. But like death and taxes, the majority of people won’t be able to avoid getting at least some of the basic types of insurance such as motor vehicle, house and contents and health cover. Motor vehicle insurance Financial Planner AFP® Amanda Cassar of Wealth …
So you’re… starting a family Starting a family will bring you plenty of joy, but it will also create many challenges. In addition to possible sleepless nights and changes in your lifestyle, it could also affect you financially. First, there are the costs of raising a child. Research published by the Australian Institute of Family studies in April found the minimum weekly cost of one child in unemployed and low-income families ranges from $140 to $170 a …
How can I prepare my finances for having a family? (Video) Louise Lakomy CFP® Louise has a wide range of experience and depth of knowledge in all facets of financial planning providing advice over 15 years specialising in retirement strategies. As part of the Financial Planning Association’s Ask a Planner video series, Louise Lakomy CFP® answers the commonly asked question, “What can I do financially to prepare for having a family?” If you have …
Is your home underinsured? Cold weather and faulty appliances can be a dangerous combination in winter – especially if your home is underinsured. As we head into winter, now is the time to check your home heating appliances – and your home and contents cover. The cooler months typically see an uptick in home insurance claims with a rise of up to 47% in colder states like New South Wales though Victoria leads the country …
Your guide to getting the right personal insurance Knowing you’re covered for what life has in store can really take a load off your mind. Our no-nonsense guide to personal insurance can get you on the right track to choosing cover that gives you peace of mind. Online source: Produced by The Financial Financial Planning Association of Australia and published on 20 November 2017. Original article.
