Most older Aussies prefer home care over a nursing home

Most older Aussies prefer home care over a nursing home While nearly nine in 10 say they have a preference, less than five in 10 have discussed their wishes with their family. What about you? According to a recent study by McCrindle, nearly 90% of Australians aged 50 and over said they’d prefer to live out their days in their own home, even though most admitted to not having given much thought to what support …

5 risks of going guarantor on your child’s home loan

5 risks of going guarantor on your child’s home loan If you’re going to balance the future of your own home or property on your child’s reliability to pay their mortgage, make sure you’re across the risks. The majority of Aussies take about 3.7 years to save for a deposit on a first home, with a third of the nation taking just over five years1. If you’ve got a kid who wants to get into …

Home to roost: Advice for parents with adult kids living at home

Home to roost: Advice for parents with adult kids living at home Do you have adult children living with you? Thanks to housing affordability and stagnant wage growth, more kids are relying on Mum and Dad to keep a roof over their head well into their 20s and 30s. Get some advice on how to foster financial independence in your kids, so they’ll be ready to stand on their own two feet when they leave …

Boom turns to bust – falling Australian home prices.

Boom turns to bust – falling Australian home prices. How far and for how long and what’s the impact on the economy? Key points Property prices in Sydney and Melbourne are likely to see top to bottom falls of around 20% as credit conditions tighten, supply rises and a negative feedback loop from falling prices risks developing.   Other cities will perform better having not seen the boom of the last few years.   Property …

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 …

Under 40 and broke: Why young people need financial advice more than ever

Under 40 and broke: Why young people need financial advice more than ever With increasing debt and falling home ownership among the under 40s, their financial prospects are less than rosy.  If this trend is set to continue, young people are going to be needing financial advice more than ever to help them make the best choices for a secure future. There’s been a lot of talk in recent years about how much better off …

How to buy a home and still have a life

How to buy a home and still have a life With the cost of buying property on the rise, many families and individuals are sacrificing other financial commitments to afford the home they want. So how can you budget for your home without being too frugal in your savings and spending? We talked to CERTIFIED FINANCIAL PLANNER® professional Michael Hayward from Capital Partners about getting the balance right between financing a home and other lifestyle goals. …

Home sweet home: Your guide to the FHSSS

Home sweet home: Your guide to the FHSSS The First Home Super Saver Scheme (FHSSS) came into effect on 1 July, and the property market has started cooling, so could the time have come for first-home buyers to make their move? CERTIFIED FINANCIAL PLANNER® professional Jeremy Chiel from Stonehouse Group shares some insights into the challenges and solutions facing younger people when it comes to home ownership. Housing affordability has been in and out of the headlines, …

When is the right time to downsize?

When is the right time to downsize? Downsizing from a larger family home to somewhere smaller can be an obvious choice when retirement is on the cards.  For others it’s a necessity and something they do reluctantly. So when it comes to timing your decision, what’s the right approach to getting the best outcome for you and your finances? When is the right time to downsize? We talked to CERTIFIED FINANCIAL PLANNER® professional Anne Graham, principal …

Is it better to buy an investment property or home first?

Is it better to buy an investment property or home first? There’s a lot to consider when buying an investment property or home, especially for the first time. Have you been saving for a long time and feel ready to get into the property market? Maybe you’re considering buying a home to live in or investing in a property you can rent out to somebody else. Either way, it’s worth knowing some more about both …