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Parents are shunning vital financial protection for their young families

NOBODY likes thinking about their own death, but when these thoughts translate into a lack of life insurance protection for their family it can have devastating effects. This recent news.com.au article explores how parents may be unwittingly put their children at risk by failing to provide appropriate life insurance. Planning for Prosperity’s Daniel Budreika is quoted as saying: […] Read More >

Sell house, lose pension

Should first home buyers have access to their super?

A new home downsize incentive could reduce your age pension A NEW incentive to tempt senior Australians to downsize their home could cost them their entire age pension. The dressed-up superannuation tax break, promoted by the Federal Government as helping housing affordability, risks leaving many retirees worse off financially and will mostly benefit wealthy people. From July this year, people aged over 65 can […] Read More >

How death makes partners poorer

DYING is bad for your health, and can also do some unpleasant things to your family’s wealth. While the impact of an unexpected death for young families is obvious, older Australians can also suffer financially on several fronts when their partner dies. Knowing the rules, and how to work around them, is the key to leaving as much money as possible for loved ones. Death […] Read More >

Investing for Children

Investing in Children

When putting away money for a child, many people invest directly in the child’s name or on behalf of the child using managed funds or other options where the investment is held in the adult’s name ‘as trustee for’ the child. This usually results in the creation of an informal trust arrangement. When making a […] Read More >

The biggest financial concern of Baby Boomers isn’t what you think

This article in the News’ Financial selection suggests people are maybe living in ‘Pixie Land’ when it comes to planning their superannuation. The article reports new research by Apia Insurance has found that three-quarters of people aged over 55 say they have been financially preparing for retirement. However, Planning for Prosperity senior financial adviser Bob Budreika said […] Read More >

Time and Patience is key to Successful Investing

Time and Patience is key to Successful Investing There’s no doubt that time seems to be a commodity that we all think is in short supply. This almost seems absurd when you consider how we’ve progressed as a society that enjoys virtually limitless access to so many time-saving services and products. Unfortunately, the disadvantage of […] Read More >

Making the invisible, visible…. from a personal financial perspective

Financial Planning

The stats relating to the number of people who seek financial advice and support is only about 20% of the population* which is rather a small number when you consider that virtually all people in the workforce have some form of debt, superannuation or insurance. There has been plenty of promotion by Industry Superannuation Funds, […] Read More >

Pensioners lose as high deeming rates don’t reflect their income

A recent Herald Sun article on how deeming rates that have not been updated since March 2015 are impacting pensioners income also included commentary from Bob Budreika What is a ‘deeming rate’ ? Deeming rates are the amounts that pensioners are assessed to earn on their financial assets such as cash or shares. Read more about […] Read More >

Bringing Understanding to your Investments

Using Superannuation to buy investment property

Bringing understanding to your investments It surprises me how much faith people have with their superannuation investments, especially those with Industry Funds.  Much of this is predicated on fairly decent average returns over the last 10, 15 and 20 years and reflects the growth in prosperity of much of the developed world.  Generally, comparable retail […] Read More >

Pre-EOFY 2017 Superannuation Checklist

Transition to Retirement

With 30 June fast approaching, time is running out to make any last super contributions before a raft of important rule changes from 1 July 2017. Concessional contributions From 1 July 2017, the concessional (deductible) contributions cap is reducing to $25,000 for everyone. Previously, it was $35,000 for people 49 years and older at the end […] Read More >

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