With so much information available at the touch of a button, many people think they can forgo the professional fees associated with financial planning advice, and just manage their money and investments themselves. But it can be costly if you don’t know what you’re doing.
Australia’s compulsory super scheme has been around for nearly 30 years. So why do many retirees feel financially insecure?
If you have self-managed super, make sure your superannuation investment strategy is reviewed regularly and any discussions, decisions and changes, including those around insurance are well documented. These are required for audit purposes.
A lot of people don’t understand the difference between a financial planner and an accountant. And to be fair, both have complementary skill sets, and in fact, some of their areas of expertise overlap from time to time.
With the government changes to superannuation looming, changes which mean insurance in an ‘inactive’ super account (one you haven’t made a regular contribution to in 16 months) will be cancelled by 30 June unless you opt to retain it.
A raft of new changes to superannuation come into effect at the end of this financial year – one in particular affects the insurance cover within your superannuation. As a result of the Royal Commission into Finance and Banking last year, the Federal Government introduced the “Protecting Your Super” package of reforms, which have been passed by Parliament.
As we head into April, most businesses are shifting their focus towards preparing budgets for the new financial year.
Business advice, tax strategies and financial planning are all key components for working towards a comfortable retirement.
What’s the number one reason a business goes bust? It’s because it’s run out of money. When a car runs out of petrol, the answer’s obvious – surely we just fill it up again? But what if it’s running out of petrol all the time? Then there’s something seriously wrong with the mechanics. And this is draining you of time and money.
When it comes to meeting your financial goals, how well your investments perform is out of your control – but who manages those investments is .