Scaling down to retirement – tips and tricks

Scaling down to retirement – tips and tricks If you were scaling down to retirement, what would it mean to you? Would you draw a line in the sand where one day you’re working full-time and the next day a whole new world of recreation opens up to you? Or would you gradually reduce paid work and swap it for travel, hobbies, looking after the grandchildren or other things? I was speaking to a good …

What to look for on your super statement

What to look for on your super statement Super statements come but once a year (or twice with some funds). When yours arrives, it’s important to take a proper look because it could become one of the biggest assets you’ll ever have. Here’s our quick guide to what you should watch out for and why. 1. Personal details Check your name and address are present and correct. Not having the right details could lead to …

I’m young – do I need life insurance now?

I’m young – do I need life insurance now? Life insurance is usually not something people think about until they begin to accumulate assets, debts and dependants. And there can be a fair amount of information to sift through, including some little known and commonly misunderstood facts. But you shouldn’t leave it too late in life to think about your cover. By ensuring you have appropriate cover when young and fit, you could save yourself …

Don’t allow a BoMaD to ruin your retirement

Don’t allow a BoMaD to ruin your retirement   What is a BoMaD and why should you care? The BoMaD – or Bank of Mum and Dad – is the 10th largest lending institution in Australia, ahead of ING, Suncorp and Bendigo Bank. It is estimated to be lending $65 billion per annum, according to a Mozo survey in September 2017. That’s right, $65 billion a year is being transferred from the pockets of Australian mums and …

The wallet challenge: Step 1 – your financial audit

The wallet challenge: Step 1 – your financial audit This 4 part series will get you ready to grow your wealth in the new financial year. Starting with an audit of your current financial position, this checklist will guide you through a review of all your assets – savings, super, properties etc and liabilities – loan payments, insurance policies, bills so you can get a clear picture of where you are at financially and where …

Should you be sharing your super with the kids?

Should you be sharing your super with the kids? According to the latest research from REST Industry Super, working Australians aged over 50 are very much in the habit of making financial contributions to their kids. So far they’ve shelled out $31.6 billion for home deposits, $55.9 billion for education and nearly $10 billion for wedding expenses1. So is funding major life events for the next generation affordable? And what happens when you want to …

Keeping tabs on your super investments

Keeping tabs on your super investments It’s important to get your investment strategy right with super. Keeping tabs on your super investments. Reviewing your portfolio regularly and getting advice can make all the difference to your savings and income for retirement. We talked to CERTIFIED FINANCIAL PLANNER®professional Matt Torney from Muirfield Financial Services about how to make sure you’re taking the right approach with your super investments. What sort of questions can help you determine your …

Super Investment Options – What’s Right For You?

Super Investment Options – What’s Right For You? Choosing the right super investment options at the right time could make a difference to how much money you have when you retire. When it comes to your superannuation, the investment options you choose today and in future may impact how much money you retire with. If you haven’t selected an investment option within your super, you’re probably invested in your fund’s default option, which will generally …

Superannuation stumbling blocks

Superannuation stumbling blocks What’s stopping you from saving for a retirement you can really look forward to? Take a look at these four common barriers to saving more super and make a plan for having all your goals and financial priorities in order. 1. Enjoying life to the full Living for the moment is something that may come very naturally to you. Perhaps you’ve always been comfortable living month to month on your salary, seizing …