What motivates people to become financial planners?

What motivates people to become financial planners?

A key challenge facing the Profession is the recruitment of the next generation of planners. Central to recruiting more professionals is understanding what motivates individuals to become planners in the first place.  In a recent article titled “Factors influencing the Motivation to Pursue a Career in Financial Planning” published by the Financial Planning Research Journal, Michelle Cull, Csilla Skultety and Ryan Kumar from Western Sydney University undertook research to understand the answer to this question.

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Pathway to retirement shortens for Aussies

Whilst the average age at which Australians plan to reduce their work commitments and transition into retirement is 62.5 years, and the average age of being fully retired being 64.8 years, the actual reality is much different.

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The 6 pillars to curb change fatigue

Inspiring, leading and continuously adapting to change is no easy feat and can often lead to change fatigue. Ciara Lancaster shares her six pillars for turning change fatigue into change success.

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COVID-19 support payments are ending: Here's what to do

For more than 2.1 million Aussies, the federal government’s COVID-19 support payments offered a lifeline through the latest pandemic lockdowns. Now they’re being wound back as vaccination rates increase. If your income has been affected, here are some tips and resources to help you manage the transition.

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How scammers get you to invest? Reduce your chance of getting caught

Be suspicious of anyone that offers you easy money. Scammers are skilled at convincing you that the investment is real, the returns are high and the risks are low. But there's always a catch.

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Planting the seeds of wealth in Spring

As we emerge from the cold of Winter, Springtime often inspires us to relish in the sunshine and enjoy a spot of gardening to reap the rewards of the season. Our finances can also benefit from the same kind of attention.

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How to get help with your bills during COVID-19

If you’re one of thousands of people who has lost income due to COVID-19, you might be finding it hard to pay your bills. Here are some tips to help you get back on track.

As COVID-19 lockdowns continue across much of eastern Australia, many people have once again found themselves out of work. Those working in service industries, and casual workers in particular, are doing it tough, and your cash reserves may be getting low.

If you’re feeling the pressure of mounting bills, it can be very stressful. But there is help at hand. Depending on your situation, you could be eligible for government financial support. And, you can always negotiate an arrangement with your suppliers that lets you hang onto your cash while you weather the COVID-19 pandemic.

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Should I still change jobs despite COVID-19?

With pandemic lockdowns in place across much of the country, is now still a good time to look for a new job? After falling to a 10-year low in June, the unemployment rate is again tipped to edge higher. So what does the future hold for Aussie workers?

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Speaking up against financial elder abuse

Australians from all walks of life are being urged to speak up if they suspect they or someone they know are being subjected to financial elder abuse.

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Money worries and your mental health

With many people experiencing financial stress this year, we look at what you can do to improve your financial (and mental) wellbeing.

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Steps towards financial independence for women

Helen Baker AFP® discusses the importance of making financial advice more accessible to women to improve outcomes for their security and wellbeing.

In the World Economic Forum Global Gender Gap Report 2017, Australia ranked 35th. Many would consider this an achievement at first glance – 35 out of 200+ countries looks good on paper. To put this in perspective, Ireland and New Zealand ranked eighth and ninth respectively. Meanwhile many developing nations also outperformed Australia, including Rwanda (fourth), Nicaragua (sixth) and The Philippines (10th). So why is Australia lagging in closing the gender gap?

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Supporting your kids, without sacrificing your own retirement

With careful planning, you can give a helping hand to your adult children financially, while still enjoying a comfortable retirement.

In the past, wealth was often passed on through an inheritance. But with our longer lifespans, and the higher cost of living (especially housing), the desire to help our kids while we’re alive and well is increasing.

If your children are young, you may have twenty or thirty years to save and invest on their behalf, while also saving for your own retirement. If this is the case, it pays to put a strategy in place early on.

For those nearing retirement age, or already retired, you may have a large lump sum you’d like to gift to one or more of your kids. Giving money is a wonderful thing to do, but it’s not always simple. It can have tax implications, and may affect your income support payments from Centrelink. On the other hand, gifting may enable you to increase your government pension payments or benefits, if done right.

So how can you help your children without compromising your own financial security and comfort in retirement?

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The superannuation health check

Does your super deserve a clean bill of health? Managing your super might seem tricky, but it doesn’t need to be. With a few simple tweaks, you can put the basics in place to last you a lifetime. Here’s how to do a quick and easy health-check on your super.

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Navigating your tax return for 2021

Do you want to get more from your tax return this financial year, but you’re not sure where to start? It could be as simple as knowing which tax deductions and offsets you’re eligible for

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How to invest for your children’s future

Every parent wants to give their child the best start in life. Fortunately, with good financial planning, you can set your kids up for a bright (and independent) financial future, in just a few simple steps.

To know more about financial planning for your children, click here.

How the gender pay gap is causing problems for Aussie women

Women are entering retirement with significantly less superannuation and personal savings than men. We explore how the gender pay gap is adding to this growing epidemic.

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What does it really cost to raise kids?

We often hear that raising kids is expensive, but just how much will it cost you over the first five, ten, or twenty years? Click here for a closer look at the costs of each stage of life.

Show your finances some self-love

Are you guilty of changing your spending habits when you’re in a relationship? Do you have a financial plan, or are you relying on a partner to take care of you in retirement? Whatever your situation, there’s never been a better time to step up and take charge of your finances.

The most important thing is to make sure your finances are sound for you. This is especially true for women, who face extra hurdles to financial freedom. On average, women retire with 47% less super than men, so it pays to have a clear retirement plan.

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Busting post-Christmas debt

Feeling financially fragile after spending big during the festive season? Click here to learn about the pros and cons of different approaches to paying off credit card balances in Money & Life’s comprehensive debt-busting guide

What does a COVID-19 Christmas look like in Australia?

Christmas 2020 will look a little different for many people, but there are still plenty of ways to enjoy the holiday season with friends and family.

Click here to read the current guidelines for how many people you can have over, where you can travel, and how many people can attend at vanues.