Principal Financial Planner at RP Wealth Management | Financial Planning l SMSF I Insurance l Property Advisory.
Our purpose is to provide our clients with sound advice and direction to assist with their financial affairs and help them make the best choices in achieving what is important to them.
Spring is in the air, and we all know what that means – more property is coming onto the market. But for many young Australian’s the question remains, ‘am I ready to purchase my first home?’
Being financially smart and independent is one of the most important lessons we can teach our kids. Many young Australians are considering taking the leap into home ownership, but is it the right time? There are some things you can do to help your children figure things out.
Are you finding that feeling burnout is now becoming part of your work schedule? If both your first and last task of the day is to check your emails, you’re not alone. Contemporary work culture, spurred on by advances in technology, has meant that we are expected to always be “on”. Gone are the days of the 9-5. Many of us work at all hours, possibly even holding down side gigs, and that’s before we take into account the labour we perform in other areas of our lives with emails on our phones, clients having your personal number and going above and beyond at the cost of your own health.
Most Australian’s want to know where is the best place to stash your money for a rainy day, a holiday or to have extra income when needed and it’s becoming a bit harder with all the volatility in share markets and property. It’s also become more urgent if you are expecting a handy tax return.
A slowdown in manufacturing and continuing weakness in many emerging economies, as well as in Germany, has startled financial markets as we can see by the drop off in the first half of August. An escalation of the economic “cold war” between the US and China has threatened to derail global growth and affects markets globally. President Trump’s imposition and subsequent delay of additional rounds of tariffs has also been met with increasing nervousness.
Aussies are living 10 years longer than we did 50 years ago with a combination of medical advancement, increased life expectancy and more active lifestyles well into retirement. Expectations of retirement are also higher, whether that be overseas travel, learning a new skill or spoiling the grandkids. This increases the need to look at ways of boosting your retirement savings before the need to draw an income from those assets.
Recent changes to boost retirement income may go at least some of the way to achieving your dream retirement and providing for a healthy, independent and good life in your later years. While there are some changes that affect self-funded retirees, the changes generally relate to those with Centrelink entitlements.
Here are the three main areas where changes have been introduced as of 1 July 2019.
For the first time in years, the planets seem to be aligning for homebuyers and property investors. Interest rates are falling, property prices largely appear to be stabilising and constraints on bank mortgage lending have been relaxed.
It’s welcome news for first homebuyers and anyone who has been waiting on the sidelines for a signal that the downturn in house prices could be at or near the bottom in key markets such as Melbourne and Sydney.
As is always the case though with the national housing market, the full story is more than a tale of two cities.