What are the benefits of a split home loan? If you can’t decide between a fixed or variable rate, a split rate home loan could provide the best of both worlds. If you’re about to take out a home loan and are looking for some protection against interest rate rises, a fixed rate home loan may sound like the loan for you. On the other hand, if you don’t want to miss out on the benefits of …
Australian’s love affair with debt – how big is the risk? Key points Household debt levels in Australia are high compared to other countries and still rising. The rise is not as bad as it looks because its been matched by rising wealth and debt servicing problems are low. However, this could change as interest rates rise and if home prices fall sharply. The trigger for major problems remains hard to see but its worth …
What high household debt means for investors “High house-hold debt is Australia’s Achilles heel,” says AMP Capital Head of Investment Strategy and Economics and Chief Economist, Shane Oliver. “I’ve been thinking this for many years now and yet it seems to keep going higher.” Latest data from the Australian Bureau of Statistics puts total household liabilities at $2.466 trillion, or 199.7 percent of disposable income, putting it among the highest in the world. Australians have …
New year, new financial resolutions The dawn of a new year is the perfect time to hit reset and correct course when it comes to your money. You may have already given thought to some health-related wellness goals for 2018, but what about your financial wellness? AMP research has revealed that a quarter of Australian workers have difficulty in making ends meet, with the most common triggers for financial stress found to be bad debt, …
Money mistakes people make in their 50s and 60s Avoid these common money traps to make sure you have enough put aside for a comfortable retirement. When you’re in your 50s and 60s, you know you’ve worked long and hard for what you’ve achieved in life and probably have a fair idea of how you want to live in your future retirement. But it’s important not to become complacent and ignore the warning signs of …
5 ways Australians will use their tax return this year With nearly one in three people planning to save their tax return, have you considered what you might do with yours? This year more than 75% of Australians expect to receive a tax return, with a large portion of the population planning to use the money they receive to take the edge off their financial commitments.i We look at the most common ways people intend …
Helping your kids buy a home Increasing house prices are good news for property owners but can be a bit of a hurdle for people trying to get into the market. If, like many of our clients, your goal is to help your children buy a home, there are a few ways you can help. Perhaps some of the tips below might give you an idea or two to discuss with your adviser. 1. Start …
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 …
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 …
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 …
