How to play catch up with your super

How to play catch up with your super Now you can put more into super at the concessional rate of tax, starting from the 2019-20 financial year Putting more money into the tax-friendly framework of superannuation to help you enjoy a fulfilling retirement… it’s one of those things that seems like a no brainer, especially with the benefit of hindsight. In a recent report Australians in retirement said that making extra super contributions was the …

Your no. 1 financial focus – decade by decade

Your no. 1 financial focus – decade by decade Everyone has a different life journey they’re on. But getting on top of key financial goals as you follow your own path could see you enjoying a more comfortable lifestyle and being ready for the next chapter to begin. Read our guide to getting all your money matters sorted out, one decade at a time. In your 20s Goodbye debt – the real danger in your 20s …

How much super should I have?

How much super should I have? It’s all very well having retirement savings as a financial goal, but just how much should you plan to have in your super balance now, and when you retire? Find out more about coming up with a super balance target, for your age group, and for the retirement lifestyle you have in mind. Above or below average? Assuming you’ve been in the workforce for a few months, years or …

Planning for the unplanned in retirement

Planning for the unplanned in retirement It’s important to prepare for unexpected illness that could throw your retirement plans off course. When you close your eyes and think about retirement, what comes into your mind? Lounging on a pristine beach in the Whitsundays? Enjoying a croissant in a café on the Champs Elysees? Kitesurfing on the bay? If you’re approaching the finish line, chances are that you’re getting proactive and eagerly preparing for life after …

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 …