We are constantly comparing ourselves to others but savvy investors focus on progress against goals. Why does my car have a four-letter word instead of four interlocked rings on its nose? What can I do to lower the first two digits of my postcode to 20, 30 or 40? Social comparison is how we evaluate ourselves against others.
Read MoreFIRE stands for financial independence, retire early. I was critical of certain elements of the movement while supporting the overall goal. Offering a criticism without an alternative doesn’t help anyone.
Read MoreThe intergenerational wealth transfer will see many assets bequeathed. Most of these assets won’t be cash. Share portfolios are a common way that beneficiaries will receive assets – especially when the owner is an income investor that is living off dividends without drawing down on the capital of the portfolio.
Read MoreAdvised Australians enjoy their retirement more than their unadvised counterparts, according to a new report.
Read MoreThe narrative of a miserly, Scrooge-like figure hoarding his wealth for years instead of enjoying his retirement might seem unbelievable—but unfortunately, it isn’t relegated only to fiction. It’s a cold reality for many retirees.
Read MoreIf life is what happens when you’re making other plans, retirement is no exception. If you are in a position to put your plans for retirement into action - health, wealth and happiness are all up there as things to think about. From finances to feelings about leaving work, this article is all about the things to keep in mind when planning for life beyond the 9 to 5.
Read MoreHappiness means different things to different people, but according to new research, there are some common themes in what brings contentment to older Australians.
Read MoreMore than one million Australians control their own superannuation investments through a self-managed super fund (SMSF), managing over a quarter of Australia’s $3.3 trillion asset pool. If you’re considering joining them, it’s important to first understand what you hope to get out of it.
Read MoreSelecting the right superannuation fund can sometimes seem like a difficult task. But when you consider that your super may ultimately have to sustain your lifestyle for more than 35 years, it's vital that you sort the wheat from the chaff.
Read MoreApart from buying a home, superannuation is likely to be the biggest investment most Australians will make in their lifetime.
It’s also one of the most tax-effective ways to save for retirement. The Government provides tax concessions for superannuation, which include concessional taxation rates for certain contributions, as well as for earnings on investments.
Read MoreA Special Disability Trust is a trust established by parents and immediate family members for the future care and accommodation needs of a person with a severe disability (principal beneficiary).
Read MoreThe maximum age pension rates from 20 March 2024 will be
How much money do I need in retirement? A question that would be simple to answer if not for one inconvenient nuance of retirement planning – the fact that nobody knows how long it will last. This lack of insight into our own mortality has led to the widespread adoption of the 4% rule.
Read MoreThis very issue was the subject of a recent private binding ruling (released 25 March 2024). The taxpayer had for a number of years (actual number was redacted in the published ruling) made personal superannuation contributions for which the taxpayer claimed a tax deduction. The actual amount of each of these contributions was not provided in the published ruling.
Support from advisers alongside financial education continues to be an integral driver of older Australians’ contentment in retirement, according to new data from Challenger. The 2024 Challenger Retirement Happiness Index revealed a score of 70 for Australians over the age of 60, citing financial wellbeing as a primary determinant.
Read MoreWith an increasing number of elderly parents living with their adult children is it possible that an adult child of a deceased parent could, on the death of the parent, receive their parent’s superannuation tax free?
Two significant changes have been made to the Work Bonus scheme. These changes apply from 1 January 2024. The first change is that an initial credit of $4,000 will be granted to the “work bonus bank” of each new age pension recipient. The second is that the maximum balance of the “work bonus bank” has been increased to $11,800 (previously the maximum balance was $7,800).
Read MorePractical tips to close a retirement savings gap between genders that is larger than we think. The media has recently been filled with commentary on the gender pay gap. We constantly hear about differences in retirement savings between men and women. The solution seems clear - close the pay and retirement savings gap and we will reach equality.
Read MoreSavvy investors can use a Transition-to-Retirement account to increase retirement savings and save on tax.
According to one adviser, once younger Australians understand how financial advisers are helping clients, they will be clamouring to join the profession.
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