Surprise retirement expenses you should know about
Retirement often forces people to put their spending habits under the microscope in ways that they didn’t during their working years. While you might find that you’re not spending as much in some areas, there’s every chance that new expenses will crop up. Here are just a few that you might encounter. Boomerang children Whether […]
The tricky reality of transferring property to your children
Many parents have been able to help their children get on the property ladder by gifting money or signing on as a mortgage guarantor. But some parents might choose to go a step further and transfer a property to their child, no strings attached. Gifting your child a property can be one of the most […]
The mental shortcuts that might be helping or hurting your finances
By Simon Russell Our brains are susceptible to certain automatic thought patterns, and fighting against them can be a challenge at the best of times. Sometimes, the solution is to ask how we can align ourselves with these thought patterns so that they actually help us rather than hurt us. Below, we look at some […]
Estate planning strategies for blended families
If you’re in the middle of the estate planning process, having a blended family can add a lot more complexity than you were prepared for. Everything from your beneficiaries to choice of executor will require much more thought, and extra care will need to be taken so no one feels excluded. We spoke to Katerina […]
Planning for retirement when you have debt
According to ABS figures, the average household debt has quadrupled over the last 18 years, jumping from $62,000 in 2003-04 to $242,000 in 2021-22. This has worrying implications for older Australians, many of whom are finding that debt following them into retirement. Ideally, your super and savings should be funding all the things you were […]
Are your parents ready for aged care? 3 questions to ask them
If your elderly mum or dad seem to be struggling to support themselves at home, it might be time to summon the courage and start a discussion about aged care. Here are a few questions to ask them to get the ball rolling. “How is your social life? Are you seeing family and friends as […]
Can you contribute to your child’s super?
As a parent, you probably want to boost your child’s chances of achieving wealth and security in life, and topping up their super might have crossed your mind. But is this allowed? And what if your child doesn’t even have a super account yet? We explore some of these questions below. Can I set up […]
Is default bias derailing your super?
By Simon Russell Let’s imagine two groups of people looking to hire a car. One is told they can have any colour they want, but if they don’t make a choice they’ll get a red one. The other is offered the same deal, except instead of a red car they’d get a blue car. If […]
Passing on wealth while alive or through a Will: Which is better?
With the average person living longer these days, many are choosing to bestow some of their assets to their loved ones during their lifetime. Doing so has its advantages, but how does it compare to waiting until you pass away? Below, Katerina Peiros from Hartwell Legal helps us weigh up some of the pros and […]
Teenager’s first job: Tips to help them manage their finances
Whether they’ve found a part-time job at the local cafe or are picking up shifts at the family business, your child entering the workforce is a major milestone. Naturally, they’re going to learn plenty of important lessons about money along the way, but there are still things you can do to help nudge them in […]
The Stage 3 tax cuts are live, what should you do with the extra money?
First announced in 2018 — and given a major facelift by the Albanese Government — the stage 3 tax cuts have finally come into effect. Coming at a time when many Australians are still struggling with the rising costs of living, the cuts will see taxpayers get between $350 and $4,500 back in their pocket […]
Cash poor, getting by or high net worth: What will your retirement look like?
Having a clear idea of where you stand financially is the first step to planning the retirement you want. If your working years are coming to a close, take some time to review your financial position and think about which of the following categories you might find yourself in. Cash poor Entering retirement without sufficient […]
