Gifting, or financially assisting family or friends by giving away some of your assets or accumulated retirement savings, can be a great way to help out younger family members or friends. But before you gift a significant amount, it’s important to understand how this could impact your Age Pension or other social security benefits you…
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Australians are being urged to be extra diligent when it comes to investment opportunities that look too good to be true. According to Scamwatch, Australians lost over $205 million to scams between 1 January and 1 May this year – a 166 per cent increase compared to the same period last year. Investment scams on…
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Investing in shares is a popular way of helping people to achieve their long-term financial goals. These investments can generate favourable returns over time as companies grow and improve their profitability. Dividends paid by listed companies can also generate a useful income stream. However, there are also risks associated with investments in shares. Companies (or…
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We often talk about money in terms of dollars and cents, but the subject can sometimes run deeper than just numbers. Frivolous spending as a result of your emotional state is more common than you might think: one study found that more than 81 % of Australians spend in order to seek comfort, suggesting that our spending…
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FORO – the fear of running out – is a very real issue in Australia. AMP’s Financial Wellness research indicates that almost 50% of Australians are worrying that they don’t have enough money for retirement. The realisation that you may someday soon be living off your retirement savings can be hard to confront. FORO often…
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People in their 20s and 30s tend to not do much with their super, and that can be a mistake in itself. It could leave them with a large gap between what they’re capable of contributing in the last 10-15 years before retirement and the level of income they want to retire on. Lots of…
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While many Aussies will carry some debt into retirement, the good news is, there are a number of things you could do now while you’ve still got time on your side and earning an income. Get serious about having a budget A good starting point when it comes to setting up a workable budget (so…
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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 do their work, while you get the satisfaction of supporting a worthy cause. Even better, many donations are tax deductible, meaning they reduce your assessable income. Here’s…
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The concept of investing in shares or other investment products can put a lot of people off. It can be difficult to understand, the share market is intimidating, and investment brokers generally only deal with people who have a lot of money to invest. Micro-investing came about as a way to help more people get…
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If you could achieve your financial goals by simply putting money away in the bank, you wouldn’t need a financial plan. Unfortunately, life is a little more complex – it’s hard to understand the intricacies of investment, taxation and ever-changing rules and regulations, so you need professional help. Yet many of us resist seeking advice,…
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