Can you use your pension to retire debt free?

Can you use your pension to retire debt free? Perhaps you’re considering options for how to reduce your debt before retiring. Well, one option may be to use your pension account, but there are some important things you should consider first. It’s no secret that Australia, like many countries, has an ageing population. According to the Australian Bureau of Statistics, 16.3% of us are over the age of 651, but that number is expected to grow …

Should you use property to fund your retirement?

Should you use property to fund your retirement? While property may seem like a good way to build – and hold – wealth, is it actually possible to use it as a way to fund your retirement? Superannuation, shares, property, cash, other investments… a dizzying number of options are available when it comes to living comfortably through retirement. Financial advisers often promote a diversified portfolio to reduce the risk of concentrating ‘all eggs in one …

Money worries and your mental health | Money & Life

Money worries and your mental health Worrying about your finances can take a real toll on your mental health. With many people experiencing financial stress this year, we look at what you can do to improve your financial (and mental) wellbeing. It’s been a trying time for many people, with our collective mental health taking a toll as the COVID-19 pandemic rolls on. The Melbourne Institute says one-in-three Australians are now reporting financial stress, while one-in-five are …

How to give your finances a health check | Money & Life

How to give your finances a health check How healthy are your finances? Isn’t it time you put your own financial wellbeing front and centre? You can take control of your financial future quickly and easily, with a simple financial health check. Just like your physical health, it’s worth giving your finances a check-up once in a while. Over time, unhealthy spending habits can creep in, threatening to derail your progress. Here’s how to give …

Tax deductible donations: Get the most out of giving back | Money & Life

Tax deductible donations: Get the most out of giving back Giving to charity can be a great way to help others and give your tax return a boost, but not all donations are tax deductible. Here’s what you need to know about making a tax deductible donation. Donating to a charity or cause you care about is a win-win for both you and the charity. Charities rely on the generosity of donors to help them …

The new COVID-19 relief schemes explained

The new COVID-19 relief schemes explained As we navigate more COVID-19 lockdowns across Australia, here’s a guide to the main benefits you may be entitled to from the government, state by state. With new COVID-19 lockdowns, and an increasing number of cases it’s understandable if Aussies are feeling overwhelmed. On top of that, concern about their finances can just add to that stress. The COVID-19 early release of super program ended in December 2020 and the JobKeeper …

Planning a career break? Here’s how to manage your superannuation

Planning a career break? Here are tips to help keep your super on track Whether you’re doing it because you want to travel, study or start a family, taking a career break can really affect your financial future. Thankfully, there are ways to help keep your superannuation in shape. Whatever your stage of life, there are several reasons for planning a career break. In some instances, leaving the workforce won’t impact your super. But in …

6 steps to feel more positive about your finances

6 steps to help you feel more positive about your finances Managing your money doesn’t have to be stressful. By breaking down your goals and establishing good habits you can work towards financial wellbeing. With one in four Australians reporting more financial stress after COVID1, it’s no surprise many of us are concerned about the future. Between mounting bills, unexpected expenses and a lack of understanding around our needs in retirement, getting our savings on …

The superannuation health check | Money & Life

The superannuation health check Does your super deserve a clean bill of health? Managing your super might seem tricky, but it doesn’t need to be. With a few simple tweaks, you can put the basics in place to last you a lifetime. Here’s how to do a quick and easy health-check on your super. It’s likely that your super will provide much of your income in retirement, so it’s worth spending a little bit of …

Navigating your tax return for 2021 | Money & Life

Navigating your tax return for 2021 Do you want to get more from your tax return this financial year, but you’re not sure where to start? It could be as simple as knowing which tax deductions and offsets you’re eligible for. With the end of financial year fast approaching, you might be hoping to claw back some of your hard earned cash when you lodge your tax return this year. The Australian Taxation Office refunds billions …