Your Guide to Smarter Spending and Investing
Imagine turning your $50 weekly impulse buys into a $39,000 nest egg. Sounds impossible? It's not. By redirecting just $2,600 a year – the cost of those small, often forgettable purchases – into smart investments, you could be setting yourself up for a significantly wealthier future. This article explores how to transform your spending habits and harness the power of compound interest, turning fleeting pleasures into long-term financial success. Discover practical strategies to curb impulsive spending and learn where to invest for maximum growth. Your future self will thank you for every dollar saved and wisely invested today.
Common Financial Mistakes to Avoid During Divorce
Divorce is often an emotionally charged and challenging experience that can have far-reaching consequences on your financial well-being. While it's natural to feel overwhelmed during this difficult time, it's crucial to approach financial decisions with clarity and foresight. In this article we discuss some of the most common financial mistakes people make during divorce and how to avoid them.
Key Superannuation Changes for 2024/25 Financial Year
Happy New Financial Year! Australia's superannuation system will see several changes in the 2024/25 financial year. The Superannuation Guarantee rate will increase to 11.5%, and both concessional and non-concessional contribution caps will rise. Some proposed changes, such as superannuation on paid parental leave and modifications to tax rates for high balances, are under consideration. Understanding these updates is important for effective financial planning.
Newsletter – June 2024
In June, the ASX 200 demonstrated resilience, while the S&P 500 in the US reached new all-time highs before experiencing a slight decline. The residential property market continued to show strength, with capital cities leading growth. Sydney saw a monthly increase in property values, while Brisbane outperformed with a significant annual growth rate. The RBA maintained the cash rate, balancing concerns over persistent inflation, which stood above the target range. The overall economic context indicated slowing growth, with the first quarter recording minimal growth and a slight uptick in unemployment.
Investment Review and Rebalancing
Learn the importance of reviewing and rebalancing your investment portfolio to align with your financial goals and risk tolerance and prepare for the upcoming financial year with confidence.
Key End-of-Financial-Year Tax Tips!
Learn effective strategies to maximise your tax return, including claiming all eligible deductions, understanding home office expense claims, obtaining a depreciation report for investment properties, lodging your return early for refunds, and timing your bonus income.
Give Your Super a Boost before 30 June!
Discover how to boost your retirement savings and lower your tax bill with superannuation strategies, including understanding contribution caps, catch-up contributions, government co-contributions, and spouse contributions.
Newsletter – May 2024
This month both the Australian and US share markets are trending upward, as indicated by the ASX 200 and S&P 500 indices. The residential property market has also displayed strength in consistent value growth in most capital cities, except for Melbourne. There have been mixed reactions from economists regarding the recently announced federal budget and its potential impact on inflation and interest rates. Read on to find out more.
When Is the Best Time to Retire and How?
Deciding when to retire is one of the most significant financial decisions you'll make. The right time to retire varies for everyone, influenced by personal circumstances, financial readiness, and lifestyle goals. Here, we'll explore key considerations for determining the best time to retire and how to prepare for a comfortable and fulfilling retirement.
The 2024-25 Federal Budget
The 2024-25 Federal Budget forecasts a surplus of $9.3 billion for 2023-24, with projected deficits in the subsequent years, specifically $28.3 billion next year. With its mix of immediate relief and strategic investments, the Budget aims to balance short-term economic pressures with sustainable growth. We’ll take a closer look at some of the specific announcements made in this Budget.
The Power of Employee Benefits to Businesses
In today’s competitive business environment, attracting and retaining top talent is more critical than ever for employers, especially small and medium-sized businesses. One effective strategy to distinguish your business as a preferred employer is through a compelling employee benefits program. But what does an excellent benefits package look like, and how can it enhance your business's appeal? Whether you're a business owner, hold a management position, or you’re an employee with proactive ideas, this article is for you.
Understanding Insurance in Your Self-Managed Superannuation Fund (SMSF)
When setting up a Self-Managed Superannuation Fund (SMSF), many are advised to consider how best to handle their insurance needs. While some opt to retain their previous retail or industry super fund accounts primarily for insurance purposes, others explore the potential of integrating insurance directly into their SMSF. In this article, we discuss why and how you can efficiently manage insurance through your SMSF.