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Your Super – who to nominate as your beneficiary

Your Super – who to nominate as your beneficiary?

Nominating your super beneficiary is something you have most likely been asked to do if you have a superannuation fund.

But, super fund trustees can only pay your super death benefit to eligible dependants1 or to your legal personal representative (LPR) who is generally the executor of your Will. If you haven’t elected a valid beneficiary the super fund trustee generally decides who your super goes to.

There are important things you should be aware of regarding super dependants.

Who can you nominate as a super dependant?

 

Spouse

A spouse includes a legally married spouse or de facto spouse, both same sex and opposite sex.

A spouse can be a person you’re legally married to but estranged or separated from. So, if you haven’t formally ended a marriage, your husband or wife is still considered your dependant under superannuation law. And, while you can’t be legally married to two people, it is still possible to have two spouses – a legally married spouse and a de facto spouse.

Child

A child includes an adopted child or a step-child. Even though a step-child is included in the definition of a child, if you end the relationship with the natural parent or the natural parent dies, the child is no longer considered your step-child.

However, they may still be considered a financial dependant or in an interdependency relationship with you and could therefore continue to be a beneficiary of your super.

Financial dependant

Generally, a person is financially dependent on you if they relied on you for necessary financial support just before you pass away. A person may be wholly or partially financially dependent on you.

Interdependency relationship

Two people have an interdependency relationship if they live together and have a close personal relationship. One or each of them must also provide financial support to the other and at least one of each of them needs to provide domestic and personal care to the other.

Two people may still have an interdependency relationship if they do not live together but have a close personal relationship. For example, if they’re separated due to disability or illness or due

to a temporary absence, such as overseas employment.

Source: Australian Executor Trustees1 In this article a dependant refers to a ‘SIS dependant’ which is an eligible person under the Superannuation Industry (Supervision) Act 1993 that a member may nominate as a beneficiary.

Who is not a dependant?

 Generally, your parents, siblings or friends who don’t live with you and who are not financially dependent on you or in an interdependency relationship with you, are not dependants.

If you do not have a dependant you should direct your super to your LPR and prepare a Will which outlines your wishes.

Legal personal representative

An LPR is the person responsible for ensuring that various tasks are carried out on your behalf when you die. If you nominate your LPR as the beneficiary of your superannuation, you are nominating the executor of your Will or if you die without a Will, the administrator of your estate. Your Will should outline the proportions and the people you wish your estate, including your super, to go to.

For assistance in how to nominate your super beneficiaries your financial adviser will be able to help.

This editorial and the information within, including tax, does not consider your personal circumstances and is general advice only. It has been prepared without taking into account any of your individual objectives, financial solutions or needs. Before acting on this information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser. From time to time we may send you informative updates and details of the range of services we can provide. If you no longer want to receive this information please contact our office to opt out. The views expressed in this publication are solely those of the author; they are not reflective or indicative of Licensee’s position, and are not to be attributed to the Licensee. They cannot be reproduced in any form without the express written consent of the author. RI Advice Group Pty Limited ABN 23 001 774 125, AFSL 238429.
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More employees eligible for super from their employer

More employees eligible for super from their employer

Superannuation Guarantee (SG) requires employer to pay a minimum level of super support for eligible employees. One criteria for an employee to be eligible is based on that employee’s monthly earnings being at least $450 per month. However, this threshold is abolished from 1 July 2022.

This measure primarily assists low-income earners to have employer contributions paid to super boosting their retirement savings.

SG contributions count towards your concessional contribution cap and should be taken into consideration when determining any other contributions made.

Business owners should review their processes to ensure that SG is paid for all eligible employees. Penalties may apply if SG is unpaid or paid late. Further information on SG can be found by visiting ato.gov.au

What next?

Speak to your financial adviser for more information on the changes and how it may provide opportunities for you. Further general information can be found on the ATO website.

Disclaimer: The views expressed in this publication are solely those of the author; they are not reflective or indicative of RI Advice Group’s position and are not to be attributed to RI Advice Group. They cannot be reproduced in any form without the express written consent of the author.

The information provided in this document, including any tax information, is general information only and does not constitute personal advice. It has been prepared without taking into account any of your individual objectives, financial situation or needs. Before acting on this information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser. From time to time we may send you informative updates and details of the range of services we can provide. If you no longer want to receive this information please contact our office to opt out. RI Advice Group Pty Ltd ABN 23 001 774 125 AFSL 238429 RIarticlehub.com | More employees eligible for super from their employer         
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Three reminders for the new (FBT) year

Three reminders for the new (FBT) year

Salary packaging is an arrangement between an employer and employee for the employer to provide certain benefits to the employee or associate of the employee in lieu of cash.

A typical example includes salary sacrificing into super. Employees might also package their salary for other non-cash benefits, which unlike super, may be subject to Fringe Benefits Tax (FBT).

Concessional employers

Employers are liable for FBT not the employee. Employers will ordinarily pass on any FBT to the employee by way of a reduced salary package. However, some employers receive concessional FBT treatment which can benefit their employees.

Fringe benefits provided by certain employers receive concessional treatment subject to a cap. The following organisations are exempt from paying FBT where the grossed-up taxable value of fringe benefits provided to each employee is less than or equal to the capping threshold:

• Public benevolent institutions

• Charitable institutions

• Public and non-profit hospitals

Tip: If you have multiple employers, for example Medical Doctors working for multiple hospitals, you may benefit from multiple threshold caps.

Note the value of the non-cash benefit is ‘grossedup’ to reflect how much someone on the top marginal tax bracket (including Medicare levy) would need to earn to purchase the same benefit after tax.

Employees of these organisations who salary package up to their relevant cap can effectively increase their tax-free threshold.

Salary packaging non-cash items such as a car and salary sacrificing to super

A question that often arises is whether someone’s concessional super contribution cap is impacted if they salary package into a non-cash benefit like their mortgage or novated car lease. Salary packaging income for nonsuper benefits does not reduce your concessional super contribution cap. This means if you are currently salary packaging you may also benefit by salary sacrificing part of your salary to super.

Timing

Arrangements must be made before remuneration is earned. This is particularly important to remember when expecting a future ‘bonus’. If it is intended for part of a future bonus to be salary packaged it is important that the arrangement be entered before it is accrued.

For more information please discuss with your financial adviser and your payroll office who may assist you with exploring your salary packaging options.

Source: https://riadvice.com.au/site_assets/media/files/b7b9c3b2-36a5-45bf-8816-46a30391707d/b7b9c3b2-36a5-45bf-8816-46a30391707d.pdf
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First Home Super Saver scheme – how does it work?

First Home Super Saver scheme – how does it work?

From 1 July 2022, if you’re a first home buyer you can release up to $50,000 (up from $30,000) from your voluntary super contributions to help you buy your first home.

Under the scheme, voluntary concessional and non concessional contributions made on or after
1 July 2017 may be released from super to help you purchase your first home.

Currently, you can release up to $15,000 of voluntary contributions from any one financial year,
up to a total of $30,000 in contributions across all financial years, plus earnings on those voluntary contributions. Under the new rules, from 1 July 2022, you will be able to release up to $15,000 of voluntary contributions from any one financial year, up to a total of $50,000 contributions across all financial years, plus earnings.

To be eligible to participate in the FHSS scheme an individual must:

  • be 18 or over
  • have never owned property in Australia
  • not previously requested a release of super money under the FHSS scheme.

The FHSS scheme can only be used to buy a residential home in Australia however it cannot be used to buy a mobile home. If vacant land is purchased, a contract to build a home on it must be signed within 12 months although a 12-month automatic extension will be granted. You must also intend to live in the home, the scheme can’t be used to buy a residential investment property.

There are certain details around the withdrawal amount, associated earnings, tax on withdrawal and the release of the funds. To discuss your options, speak to a financial adviser.

 

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Intergenerational Wealth Monthly Market Wrap April 2022

March: Australian Equities Perform Well – All GICS Sectors Positive

• Global shares had a mixed month. Due to upward movements in the Australian dollar, on an unhedged basis, global shares were down 0.9%, but on a hedged basis were up 2.9%. In a fairly similar result to last month, global emerging markets fell 5.6% over the month.

• Australian shares performed well during March, with the S&P/ASX 200 Accumulation Index gaining 6.9%. The leading sectors were I.T. (up 13.15%) and Energy (up 9.59%). Note that I.T. was rebounding after a couple of poor months. Property Trusts was the worst performer for the month, although still in positive territory (up 1.14%).

• Fixed income returns for the month were again exceptionally poor, returning -3.7% domestically and -2.1% globally.

• The Australian dollar (AUD) gained 3.0% against the US dollar. The AUD also gained a very significant 9.1% against the Yen and 5.0% against the Trade-Weighted Index.

U.S. Fed’s Lift-off

Globally

• U.S. Fed raises the cash rate for the first time since late 2018.

• Fed Officials indicated an aggressive tightening path ahead, with rate rises expected at each of the remaining six meetings in 2022.

• Members also pared back expectations for economic growth this year and sharply raised their outlook for inflation.

• Inflation in the U.S. is expected to remain at elevated levels for the short term. Euro area annual inflation is expected to be 7.5% in March 2022, up from 5.9% in February according to a flash estimate from Eurostat.

Locally

• Job Vacancies rose 6.9% in the 3 months to February to 423.5k. Vacancies are now 86% higher than pre-pandemic levels. Underscoring the strength of labour demand even after employment has more than recovered from lockdown impacts, there are now just 1.3 unemployed people per job vacancy, less than half the number prior to the pandemic.

• The disconnect between the markets’ expectations of interest rate rises and RBA guidance appears to be continuing. Some markets are now pricing in around thirteen 25-basis point interest rate rises by September 2023, while consensus data of economists’ forecasts is predicting a cash rate of around 1.50% at the same date.

This report is prepared by Bridges Financial Services Pty Limited ABN 60 003 474 977 AFSL 240837 (Bridges). Bridges is an ASX Market Participant and part of the IOOF group of companies. This report is prepared by the IOOF Research team for: Bridges Financial Services Pty Limited ABN 60 003 474 977 AFSL 240837, Consultum Financial Advisers Pty Ltd ABN 65 006 373 995 AFSL 230323, Elders Financial Planning ABN 48 007 997 186 AFSL 224645, Financial Services Partners ABN 15 089 512 587 AFSL 237 590, Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 AFSL 244252, RI Advice Group Pty Ltd ABN 23 001 774 125 AFSL 238429, Shadforth Financial Group Ltd ABN 27 127 508 472 AFSL 318613 (‘Advice Licensees’). The Advice Licensees are part of the IOOF group comprising IOOF Holdings ABN 49 100 103 722 and its related bodies corporate (IOOF group).The Advice Licensees and/or their associated entities, directors and/or employees may have a material interest in, and may earn brokerage from, any securities or other financial products referred to in this document or may provide services to the company referred to in this report. The document is not available for distribution outside Australia and may not be passed on to any third person without the prior written consent of the Advice Licensees. The Advice Licensees and associated persons (including persons from whom information in this report is sourced) may do business or seek to do business with companies covered in its research reports. As a result, investors should be aware that the firms or other such persons may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as a single factor in making an investment decision. The document is current as at the date of issue but may be superseded by future publications. You can confirm the currency of this document by checking the intranet site (links below).The information contained in this report is for the sole use of advisers and clients of AFSL entities authorised by the Advice Licensees. This report may be used on the express condition that you have obtained a copy of the Advice Licensees Financial Services Guide (FSG) from their respective website. Disclaimer: The information in this report is general advice only and does not take into account the financial circumstances, needs and objectives of any particular investor. Before acting on the advice contained in this document, you should assess your own circumstances or seek advice from a financial adviser. Where applicable, you should obtain and consider a copy of the Product Disclosure Statement, prospectus or other disclosure material relevant to the financial product before making a decision to acquire a financial product. It is important to note that investments may go up and down and past performance is not an indicator of future performance. The contents of this report should not be disclosed, in whole or in part, to any other party without the prior consent of the IOOF Research Team and Advice Licensees. To the extent permitted by the law, the IOOF Research team and Advice Licensees and their associated entities are not liable for any loss or damage arising from, or in relation to, the contents of this report. For information regarding any potential conflicts of interest and analyst holdings; IOOF Research Team’s coverage criteria, methodology and spread of ratings; and summary information about the qualifications and experience of the IOOF Research Team please visit https://www.ioof.com.au/adviser/investment_funds/ioof_advice_research_process

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Be in control of your retirement

Be in control of your retirement.

Are you approaching retirement? Then chances are the funding of your lifestyle in retirement may be on your mind. Take steps now to avoid getting caught short on retirement income and live the retirement lifestyle you want.

The qualifying age is increasing by six months every two years until it reaches 67 in July 2023. The Age Pension age increased to 66 and a half on 1 July 2021.

If for example, you are planning to retire at 60 you will need to wait until you’re 67 before you can apply for the Age Pension. You’ll have to rely on your own savings and super in the interim, making it crucial to ensure you have enough money put away for later years. But the good news is that there’s still time to grow your retirement savings.

Boost your super

Contributing more to your super can be a reliable route to bolstering your retirement fund. By making extra contributions through salary sacrifice, you can grow your super and at the same time reduce the amount of income tax you pay. The government will tax your salary sacrificed contributions at 15 per cent, which may be much lower than your marginal tax rate.

Making non-concessional or after-tax super contributions is another option. Generally, you can contribute up to $110,000 each financial year if your total super balance is less than $1.7 million at 30 June of the last financial year. To understand how these contributions work, it’s wise to get professional advice.

Beef up your savings
Your personal savings can supplement your super payments in retirement. But are they growing enough now to provide you with some level of income when you retire?
To build up your savings, you may have to invest part of it and make sure it’s growing faster than the rate of inflation over the long term. You should seek professional advice to see what  investments are appropriate for you.

Know your entitlements
Besides the Age Pension, you may be eligible for other government benefits and concessions. The Seniors Card, for example, offers certain individuals over the age of 60 discounts on some
commercial and public services. Concessions that allow you to buy prescription medicine at a discount may also be available.

But keep in mind that these benefits have strict eligibility rules. There’s also no guarantee that these entitlements will still be available by the time you retire. So, take charge of your retirement. Working with your financial adviser, you can develop a strategy that helps ensure you’ll be well provided for regardless of changes to pension policies.

 

This editorial and the information within, including tax, does not consider your personal circumstances and is general advice only. It has been prepared without taking into account any of your individual objectives, financial solutions or needs. Before acting on this information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. You should read the relevant Product Disclosure Statements and seek personal advice from a qualified financial adviser. From time to time we may send you informative updates and details of the range of services we can provide. If you no longer want to receive this information please contact our office to opt out. The views expressed in this publication are solely those of the author; they are not reflective or indicative of Licensee’s position, and are not to be attributed to the Licensee. They cannot be reproduced in any form without the express written consent of the author. RI Advice Group Pty Limited ABN 23 001 774 125, AFSL 238429.
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Intergenerational Wealth Monthly Market Wrap February 2022

Market slump in January

  • Global shares fell 2.2% and 5.1% in unhedged and hedged terms, respectively. Global emerging markets rose 1.2% over the month.
  • Australian shares performed poorly during January, with the S&P/ASX 200 losing 6.4%. The leading sectors were Energy (up 7.88%) and Utilities (up 2.56%). I.T. was again the worst performing sector for the month (down 18.43%).
  • Fixed income returns for the month were very poor, returning -1.0% domestically and -1.6% globally.
  • The Australian dollar (AUD) lost 2.70% against the US dollar and 2.76% against the Yen. Note by mid-February, the AUD is back up trading around 0.7185 USD.

Inflation and Tapering

Globally

  • U.S inflation is still red hot. The consumer price index rose 0.6% for the month of January, 7.5% on a year-on-year basis, and was the fastest rate since February 1982.
  • Minutes of the January 25-26 Federal Open Market Committee meeting stated, “that if inflation does not move down as they expect, it would be appropriate for the Committee to remove policy accommodation at a faster pace than they currently anticipate”.
  • China’s inflationary pressure continued to ease in January, with the growth of both consumer and factory-gate prices slowing further.

Locally

  • Australia’s Consumer Price Index rose 1.3% in the December quarter, bringing inflation for the full 2021 year to 3.5%.
  • This is above the Reserve Bank of Australia’s medium-term target range of 2-3% inflation. It will excite speculation about the central bank lifting interest rates far sooner than expected.
  • As expected, at the RBA’s February Board meeting, a decision was made to end QE.
  • The official cash rate remained at 0.10%, but the futures market is pricing in 4 rate rises this year

 

This report is prepared by Bridges Financial Services Pty Limited ABN 60 003 474 977 AFSL 240837 (Bridges). Bridges is an ASX Market Participant and part of the IOOF group of companies. This report is prepared by the IOOF Research team for: Bridges Financial Services Pty Limited ABN 60 003 474 977 AFSL 240837, Consultum Financial Advisers Pty Ltd ABN 65 006 373 995 AFSL 230323, Elders Financial Planning ABN 48 007 997 186 AFSL 224645, Financial Services Partners ABN 15 089 512 587 AFSL 237 590, Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 AFSL 244252, RI Advice Group Pty Ltd ABN 23 001 774 125 AFSL 238429, Shadforth Financial Group Ltd ABN 27 127 508 472 AFSL 318613 (‘Advice Licensees’). The Advice Licensees are part of the IOOF group comprising IOOF Holdings ABN 49 100 103 722 and its related bodies corporate (IOOF group).The Advice Licensees and/or their associated entities, directors and/or employees may have a material interest in, and may earn brokerage from, any securities or other financial products referred to in this document or may provide services to the company referred to in this report. The document is not available for distribution outside Australia and may not be passed on to any third person without the prior written consent of the Advice Licensees. The Advice Licensees and associated persons (including persons from whom information in this report is sourced) may do business or seek to do business with companies covered in its research reports. As a result, investors should be aware that the firms or other such persons may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as a single factor in making an investment decision. The document is current as at the date of issue but may be superseded by future publications. You can confirm the currency of this document by checking the intranet site (links below).The information contained in this report is for the sole use of advisers and clients of AFSL entities authorised by the Advice Licensees. This report may be used on the express condition that you have obtained a copy of the Advice Licensees Financial Services Guide (FSG) from their respective website. Disclaimer: The information in this report is general advice only and does not take into account the financial circumstances, needs and objectives of any particular investor. Before acting on the advice contained in this document, you should assess your own circumstances or seek advice from a financial adviser. Where applicable, you should obtain and consider a copy of the Product Disclosure Statement, prospectus or other disclosure material relevant to the financial product before making a decision to acquire a financial product. It is important to note that investments may go up and down and past performance is not an indicator of future performance. The contents of this report should not be disclosed, in whole or in part, to any other party without the prior consent of the IOOF Research Team and Advice Licensees. To the extent permitted by the law, the IOOF Research team and Advice Licensees and their associated entities are not liable for any loss or damage arising from, or in relation to, the contents of this report. For information regarding any potential conflicts of interest and analyst holdings; IOOF Research Team’s coverage criteria, methodology and spread of ratings; and summary information about the qualifications and experience of the IOOF Research Team please visit https://www.ioof.com.au/adviser/investment_funds/ioof_advice_research_process
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Why aged care matters

Why aged care matters

The last couple of years have been tough on a lot of people with the COVID pandemic throwing the world into chaos and taking a toll on our physical, mental, financial and emotional wellbeing. If you have had a family member in aged care over the period of lockdowns and were not able to visit them or help care for them, you were probably even more grateful to the staff who turned up day in and day out to care for the residents. This highlights, even more, the importance of having options when it comes to aged care, and getting it right for you.

 

Accommodation options in retirement and aged care

Own home – if you choose to remain in your own home there are a range of services that can be provided under a Home Care Package (HCP). These may include personal care, clinical support and light home duties. A HCP can be hard to secure with greater demand than supply. As at 31 March 2021 there were 183,376 people who had accessed a HCP. This is a 20.7 per cent increase since 31 March 20201.

There is also a Commonwealth Home Support Program which is assessed by the regional assessment service to determine the type of in-home care needed.

Retirement village – a retirement village is a residential option offering a community lifestyle designed specifically for the needs and lifestyles of people over age 55. Most retirement villages offer self-contained accommodation for independent living. They may also provide services such as meals, cleaning and personal care for an additional fee.

 

Aged care accommodation – residential aged care is a purpose-built facility that offers specialised care for those who need assistance with their everyday living. The services provided may include:

  • on-call staff for assistance
  • meals
  • basic accommodation services such as furnishings
  • cleaning and general laundry
  • bedding
  • maintenance of buildings and grounds.

Additional services (such as hairdressing, outings or a cafe) are offered by some aged care residential facilities at an extra cost.

Accessing accommodation packages

A conversation with an Aged Care Assessment Team (ACAT) is the key to accessing what packages are available to an individual to help determine if a home care package can be secured, or if entry to residential aged care accommodation is the more suitable option.

An ACAT assessment is done by doctors, nurses and social workers to assess the physical and mental needs of the individual.

Choosing an aged care facility

The decision on which aged care facility to choose is made by the prospective resident and their family. This decision may be largely based on accommodation cost and availability, but consideration should also be given to family circumstances, quality of the accommodation and facilities, reputation of the facility, closeness to family and friends and other personal and emotional factors.

It’s important to remember there are often long waiting lists for entry to many facilities, so it’s a matter of weighing up the urgency of entry and the availability of preferred facilities. The sooner you consider your aged care options and get onto a waitlist, the easier it is to make the transition. In saying this, you should also be prepared to move rapidly once a facility can accommodate you, as places tend to be assigned very quickly and if you take too long to decide, it may be offered to someone else.

Other considerations

This article barely scratches the surface of things you need to know when it comes to your aged care, or that of a family member or close friend. There is a lot to understand when it comes to costs, whether the family home needs to be sold or can be retained, impacts on the age pension for those in receipt of this social security payment and thought to ongoing income.

Talk to a Financial Adviser

With so much to know about this very important decision around how you, or someone you care about, will live out their final years, it’s important to get all the facts from a qualified Financial Adviser who understands the aged care system and can provide options and advice, giving consideration to your individual circumstances.

Make an appointment today to discuss aged care, it’s important to explore your options while you are of sound mind and can make informed decisions.

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A new year is a chance for a fresh start

A new year is a chance for a fresh start

New year is a great time for making lifestyle changes, however, for goals and changes affecting your financial health, there’s often no better time than when starting a new job.

Well 2022, it has to be better than the last two years, right? With everything that has been going on the last two years, you may have not had the time or motivation to get your financial affairs in order because life has been all about survival every day. With a fresh new year comes a new opportunity to get your finances in order and feel comfortable with the knowledge that you are getting professional help to make the most of your hard-earned dollars.

Plan around your pay cycle

If your job pays fortnightly, there is a great opportunity to modify your mortgage repayments. Paying half your monthly mortgage as a fortnightly repayment lets you squeeze in one extra monthly repayment each year – potentially saving thousands in interest over the course of a loan.

Don’t waste a pay increase

If you received any sort of pay increase in 2021, or you are starting a new job in 2022 with a higher salary, there are opportunities to save more while maintaining the lifestyle you’ve become accustomed to. One of the most tax-effective investments is making additional concessional contributions into your super. Using your before-tax pay, it’s usually taxed at just 15 per cent instead of your marginal tax rate.

Individuals may contribute up to $27,500 during 2021/22 as concessional contributions to super.

Check your insurance

As you move through your career, priorities change and with a mortgage and children comes the need to protect your income. Thew new year is a good time to sit down and check your insurance – inside and outside of super – and make sure it matches your financial situation and your current lifestyle needs.

Check your budget

You may have been living on a more frugal budget the last two years if you have had a downturn in employment due to COVID, and your expenses may have decreased as we have not been able to travel, eat out, participate in sports and hobbies. Your income and expenses going forward are likely to change. A financial adviser can help you set a budget based on your 2022 salary and expected expenses. They can also discuss investment strategies to ensure any surplus finances gives you a boost today, and in the future.

Time to get your superannuation on track

With many people predicted to have more than 10 jobs in their lifetime, having a super fund that can move with you from job to job and into retirement has never been more important. After all, losing track of just one super fund can cost you thousands in retirement.

Not all super funds can do this though, and once you’ve done your homework to find the fund that best suits your investment profile and insurance needs with fees you are comfortable with – it’s often a good idea to stick with it. This gives you peace of mind throughout your working life that your retirement savings won’t get lost and you won’t be paying unnecessary tax and fees when the time finally comes to retire.

A Financial Adviser can talk you through some superannuation fund choices and how to go about consolidating your superannuation accounts to take advantage of the benefits of having one, rather than multiple accounts. They can also talk to you about the benefit of having multiple accounts – it doesn’t suit everyone, but there are a few that are better off with more than one super fund, under the right conditions.

For help with your 2022 financial plan including super, savings and more, contact your Financial Adviser today.

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Happy New Year for 2022

Happy New Year for 2022! We are now open and our normal office hours will resume. We hope you have had a great holiday season.

We are open for the new year and taking appointments. With so many external impacts on all our lives over the past two years as we have responded to the COVID-19 pandemic, many of you will have had a change in situation or had a chance to reflect on what is really important to you. For this reason we encourage all our clients to book a review meeting with us so we can discuss your current situation and any changes that may need to be made to your financial plan to accurately reflect your situation now.

For our clients who prefer face-to-face meetings, please rest assured we will follow the Government’s health advice around operating a COVID-safe business so we are able to accommodate face-to-face meetings in our office. We welcome the opportunity to see you in person.

We have found the online virtual meetings are a highly effective way of engaging clients and conducting meetings so for any clients who prefer to communicate via online channels, we are pleased to continue to offer virtual meetings in 2022. Please let us know if this is your preference when you book your review meeting and we will set it up as an online meeting.