Key takeaways Investing in growth assets like shares and property can generate a passive income while building your wealth over time Keeping track of your expenses versus income can help identify possible savings to pay off debt Adding more to your super on a regular basis offers tax benefits in addition to improving your retirement. … Read more
Key takeaways Understanding the different types of investments in super and how they work, can help you decide if your current investment approach is right for you A growth investment approach has the potential to provide you with higher returns, over the long term A defensive investment approach aims to provide investors with regular income. … Read more
A ‘transition to retirement’ (TTR) strategy lets you access some of your super and keep working. Setting this up can be complicated, so contact your super fund or financial adviser for advice. How transition to retirement works If you’ve reached your preservation age (between 55 and 60) and still working, you can use a TTR strategy … Read more
Key takeaways There may be tax advantages when you contribute to super, especially if you salary sacrifice or you’re eligible to claim a tax deduction for personal super contributions. By making extra mortgage repayments, coupled with any potential increase in the value of your property, you may build equity in your property at a faster … Read more
Find out how to save money every day and make a savings plan to stay on track. Separate and automate your savings An online savings account is a great way to grow your money faster. Unlike a transaction account, you can’t spend money directly from a savings account, so it’s harder to dip into your savings. Automate … Read more
Review your investments regularly to make sure you’re on track to reach your financial goals and you’re comfortable with the investment risks. Find out how to review your investments’ performance and what to do if you’re not getting the returns you expect. Monitor your investments regularly How often you review your investments will depend on: … Read more
What are interest rates? The interest rate is the amount a borrower pays for borrowing money from a lender, which is why it’s often referred to as the cost of borrowing. Conversely, the interest rate is also the amount earned on money deposited into a bank or financial institution, also known as the rate of … Read more
Key takeaways It’s important to remember that interest rate increases are gradual, and while uncomfortable now, they will help to control rising inflation Interest rate rises can affect your super balance depending on how your retirement savings are being invested When reviewing your finances, consider building a buffer for further rate increases that might affect … Read more
Superannuation (or Super) is a percentage of your income put aside by your employer over your working life to help fund your retirement. It’s a compulsory system in Australia that requires contributions to be made, most commonly, into either an APRA regulated retail or industry superfund (run by a board of trustees) or an ATO … Read more
Key takeaways Salary sacrificing means you agree with your employer to direct part of your before-tax salary straight into your super account. These contributions are on top of compulsory contributions made by your employer. Salary sacrificing can be a tax-friendly way to boost your super today. Are you worried about having enough money in retirement? … Read more
The use of trusts by Australians to hold different assets, including investments in exchange traded funds (ETFs), managed funds, and direct shares, continues to grow. According to the Australian Tax Office (ATO), there are now more than one million trusts operating nationally, collectively holding assets that generate in excess of $400 billion in income a … Read more
The daily grind of a job working for an over-bearing boss, or is it a family or financial problem, a traumatic life-event, or the fear of getting older can force us to sit down and really think about the meaning of life. Why are we here? What is our purpose? What do we want to … Read more
