Once you decide to retire you can access your super as a lump sum or start an account-based pension (also known as an income stream) or do a combination of both. The benefit of starting an account-based pension is that it provides a regular tax-effective income during your retirement. How does an account-based pension work?…
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Inheritance is an emotional subject on every level. The people leaving an inheritance generally do it with pride and love. The people receiving an inheritance often receive it with gratitude – and sorrow. But while emotional, it’s also a financial transfer that comes with a whole range of legal, financial planning and admin issues attached.…
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An age-old question is whether it’s better to invest in property or shares. There is actually no right or wrong answer. It all comes down to your preferences and approach to risk. Growth investments Both asset classes – shares and property – are considered to be growth investments. In other words, over time, a quality…
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Some cryptocurrencies have experienced a surge in value (and interest) since the pandemic. However, there’s a long way to go before it becomes clear how to determine their fundamental value. Even the Reserve Bank is talking about cryptocurrency, having announced late last year it is exploring the potential use and implications of a wholesale form…
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2020 may be remembered as the year we’d rather forget. The terrible health consequences and fatalities associated with the spread of Coronavirus both here in Australia and around the world has taken a heavy toll on many of us; particularly for those who have lost loved ones and livelihoods. While nothing can replace the loss…
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A healthy super balance is a key ingredient to living comfortably in retirement. But for many people, retirement is a long way off, and it can be hard to know if your super is on track. If you’ve ever been curious about how your super savings match up, read on to find out. How much…
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If you were working towards a retirement date and Coronavirus has meant a change of plans, it can be hard to move the goal posts. Could you gradually reduce your hours to make stretching out your years at work more do-able? If your work is stressful, consider whether you could reduce or change your responsibilities.…
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It’s an uncomfortable truth, knowing that one day we will pass away. No-one likes to think about the distress it will cause their loved ones or what kind of burden they’ll be left with. That’s why death is often considered a taboo topic of conversation, along with money and politics. When you pass away, hospitals…
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Some big life changes – and big expenses – can occur in your 30s. The key to maximising your retirement savings now is making savvy, forward-thinking financial decisions. This becomes even more relevant when you’re surrounded by the current economic uncertainty. Short-term needs and expenses are front-of-mind and you might prioritise saving more money for a…
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If you’re among those who lost their job or missed out on work opportunities last year due to COVID-19, here’s what you can do to improve your employment prospects in 2021. Evaluate your transferable skills and competencies Start by taking stock of what you can offer a new employer. Everyone has useful skills and competencies…
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