The Rich Life Vol 62
October 4, 2022
It’s October and the footy finals are almost over, depending on which code you follow. In Canberra though, Treasurer Jim Chalmers is warming up for his first Budget on October 25 against a background of mounting economic pressures. In September, persistently high inflation and aggressive rate hikes by the world’s central banks put global share…
Mortgage vs Super
October 4, 2022
With interest rates on the rise and investment returns increasingly volatile, Australians with cash to spare may be wondering how to make the most of it. If you have a mortgage, should you make extra repayments or would you be better off in the long run boosting your super? The answer is, it depends. Your…
The Rich Life Vol 59
July 1, 2022
Welcome to our July newsletter and the start of a new financial year. With winter in full swing, it’s a great time to rug up by the fire, take stock of the year that was and make plans for the future. June was a big month in an eventful year for the local and global…
A super window of opportunity
July 1, 2022
New rules coming into force on July 1 will create opportunities for older Australians to boost their retirement savings and younger Australians to build a home deposit, all within the tax-efficient superannuation system. Using the existing First Home Super Saver Scheme, people can now release up to $50,000 from their super account for a first…
The Rich Life Vol 58
June 1, 2022
June has arrived and so has winter, as the financial year draws to a close. Now that the federal election is out of the way, it’s time to focus on planning for the future with more certainty. Cost of living pressures, inflation and interest rates were major concerns in the lead-up to the May federal…
A super end to the financial year
June 1, 2022
As the end of the financial year approaches, now is a good time to check your super and see what you could do to boost your retirement nest egg. What’s more, you could potentially reduce your tax bill at the same time. There are a handful of positive changes to super due to start next…
Salary sacrifice to cut tax and boost your super
May 27, 2022
This time of year, people’s thoughts start turning to their tax return, but it can also be a good time to set things up so you don’t pay more tax than required next financial year. Simply talking to your employer about setting up an arrangement to “sacrifice” some of your pre-tax salary could potentially lower…
The Rich Life Vol 56
March 31, 2022
Welcome to an early Federal Budget edition of our April newsletter. As the Morrison Government clears the decks ahead of a May election, Australians will be weighing up the impact on their household budgets. The war in Ukraine added a major new source of uncertainty to the local and global economic outlook in March. Economic…
Sharing super a win-win for couples
March 31, 2022
Australia’s superannuation system is based on individual accounts, with men and women treated equally. But that’s where equality ends. It’s a simple fact that women generally retire with much less super than men. The latest figures show women aged 60-64 have an average super balance of $289,179, almost 25 per cent less than men the…
Avoid the rush: Get ready for June 30
March 1, 2022
It seems like June 30 rolls around quicker every year, so why wait until the last minute to get your finances in order? With all the disruption and special support measures of the past two years, it’s possible your finances have changed. So it’s a good idea to ensure you’re on track for the upcoming…
Taking cover in changing times
February 2, 2022
The pandemic has changed the way so many of us live, with jobs, travel, and lifestyle all transformed during COVID. Now, as we start emerging on the other side, it may be a good idea to check whether these changes have impacted your life insurance needs. In some cases, you may require more coverage and…
The Rich Life Vol 50
October 1, 2021
It’s October and with grand finals season almost over the countdown to summer begins. Despite ongoing lockdowns, rising vaccination rates are paving the way for the re-opening of borders and business. September was a mixed bag on the economic front. After reaching record highs in August, global sharemarkets stumbled in late September. There are concerns…
Your SMSF – wind it up or pass it on?
October 1, 2021
Now that new legislation allows a maximum of six members in an SMSF, some fund trustees may be wondering if this could be an easy way to ensure a smooth transfer of their super to the next generation. The simple answer is yes, but before you start adding your children and their spouses to your fund, it’s…
Spotlight on super performance
October 1, 2021
Superannuation has provided most fund members with stellar returns since last year’s COVID lows. As always though, some funds performed better than others and recent government reforms make it easier to find out how your fund compares. Indeed, you may have noticed recent media reports naming 13 super funds that failed a performance test conducted by the…
Don’t take super cover for granted
September 3, 2021
Buying insurance through super has many advantages, but you need to make sure you are getting the right cover for your individual needs. In some cases, you may be paying for nothing. Most super funds offer life and total and permanent disability (TPD) insurance to fund members and, in some cases, income protection cover. But…
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