One fact of life is certain, we don’t stay young forever so we must invest in ourselves. As we grow older, everyday tasks can become tiresome; we suffer inevitable aches and pains and often have difficulty remembering things. But the ageing process should be seen as a privilege. We have retirement to look forward to, access to good healthcare and the opportunity to spend more time with the people we love. To ensure we’re able to enjoy a long and happy retirement, it’s important to plan for this future..
Fuelled by rising house prices and low interest rates, the level of personal household debt in Australia is relatively high compared to many other countries.i
The largest proportion of this debt is often used to purchase a valuable asset – the family home. With careful planning, you might be able to control your household debt and use it to grow wealth and secure your future.
If you are submitting your Tax return shortly or have already done so, you will be receiving you tax refund in the next few weeks – depending on your deductions and amount paid- you could end up with a sizeable portion back in your bank account. Just remember this money is something you have still worked hard for and should be used wisely instead of seeing this as play money.
One of the biggest misconceptions around life insurance is that it’s solely designed to provide a payout if you die. But life insurance is relevant at every stage of your life.
From your fancy-free 20s while you are grinding and growing that empire, all the through your working life and into retirement, you will have different goals and priorities worth protecting.
Here we look at the types of cover you should consider at each age and stage.
Risk is inherent in investing and there is no one size fits all approach to managing and dealing with your individual risk tolerance. What keeps you awake at night might be well within someone else’s comfort level. Choosing an appropriate risk tolerance is to ensure you are comfortable with with your investments and you have ‘peace of mind’
Every year we hear from the Tax office about the latest Industries that they will target and things they will be looking for.
The objective of this is to get people thinking about their returns and phase out ‘dodgy’ practices.
So, what is the Tax office(ATO) targeting this year?
They ultimately look at 2 key areas which include: work-related expenses and claims by investment property owners which we will discuss in this article and touch on a relative new area the ATO is focusing on- The Share economy.