Who have you been turning to for money advice in 2020?
Click here to read insights from six leading financial planning professionals who have been helping their clients feel more confident in their finances this year.
Making retirement funding last the distance
We are all living longer, fuller lives, and for many people retirement may now span almost as long as our working careers. We are at a tipping point, with a huge number of baby boomers set to retire and a global pandemic changing the landscape.
The statistics paint a concerning picture, with the average Australian set to outlive their money by 11 years.
Click here to read Kate and Tony’s story, and how they plan on their retirement funding to last the distance.
Top negotiating tips to cut your bills now
If you’re feeling the heat of mounting bills, don’t panic. You can negotiate a better deal that lets you hang onto your cash while you weather the COVID-19 pandemic.
Household electricity, gas, and water use have all jumped by upwards of 15% - meaning that many of us are facing hefty bills on top of lower than usual income. I
If you need to rein in your spending, or you’re struggling to pay your debts due to ongoing financial hardship, you can negotiate a better deal.
Click here to read more on your options, how to negotiate with creditors, and what to do if you are still in debt.
How to COVID-proof your travel plans
Is lockdown fatigue getting the better of you? If you’re dreaming of a beachside holiday, you might be wondering if it’s safe to make travel plans.
With summer on the horizon and the country stuck in various levels of lockdown, many of us will be craving a change of scene.
Click here to read more on planning travel now and into the future.
Why you need a Will
In 2020, COVID-19 has introduced significant health risks and changes to family life. It’s now more important to have an estate plan so that you can make sure your family and loved ones are looked after should you become ill and die.
Click here to read more on what an estate plan is, Powers of Attorney, how to make a Will, and what happens if you don’t have a Will.
Putting your own needs first
It’s a confronting thought, but elder abuse is more common in families than in aged care facilities. The most likely form is financial, and it often results from well-intentioned plans that go wrong. Click here to read on some ideas on how to help your family avoid the pitfalls.
Going solo in retirement
With divorce rates rising among couples aged 55+, more people could find themselves going it alone in retirement. Click here to read about the pros and cons for your lifestyle and finances, and Dianne Kemp’s experience of planning for retirement after divorce.
How a planner can help you invest responsibly
Believe it or not, you can grow your retirement nest egg and do good at the same time, especially with the help of a good financial adviser.
Click here to read more about ethical and socially responsible investment options available, and their different approaches to investing.
Why financial wellbeing is a pillar of good health
Much like exercise and eating well, your financial wellbeing is key to living a happy and healthy life. Financial wellbeing is often overlooked as one of the pillars of good health, but it’s every bit as important as your physical, mental and emotional health. So what is financial wellbeing and how can you improve yours?
Click here to read more
5 common financial mistakes to avoid during a crisis
The economic impact of the COVID-19 pandemic is playing havoc with finances for many households.
Click here to read about 5 ways to limit the impact at this challenging time.
Financial counsellor or financial planner: What's the difference?
When you’re looking for advice on your finances, it can be hard to know where to turn. Counsellor, adviser, planner? A simple internet search can be enough to make your head spin.
Click here to read about the differences between them, and find out which one may be applicable to your situation
Get on top of your finances post COVID-19
As lockdown restrictions begin to east Australia-wide, a new normal is emerging for businesses and employees. Click here to explore the roadmap out of lockdown, and what lies ahead for our finances
How to become a mono-tasker
Are you addicted to multi-tasking?
It can seem harmless at the time - the to-ing and fro-ing between tasks. But research by Professor David Meyer suggests that when we multi-task - or task switch - things take around 40 per cent longer.
Multi-tasking is addictive. Click here to see three ways to kick your multi-tasking addiction and get more work done in less time
How to protect women from retirement worries
After career-interruption and a lifetime of caring for others, many women have good reason to be concerned about how they will manage during retirement, but research shows early intervention from a financial planner can help build confidence about the future.
There are two possible areas of action:
Preparation for retirement needs to start young and be sustained through life; and
Australia must find a way to ensure that no one is disadvantaged by taking on caring roles that prevent or limit the opportunity for accumulating retirement savings.
Click here to read more
Making the most of tax savings before 30 June
The COVID-19 crisis is turning out to be a tough time for many households. Maximising tax effectiveness is one strategy for being smart with your finances.
With the financial impact of COVID-19 being felt by many individuals and families, perhaps you’re looking to lodge your next tax return quickly to benefit from a refund. Before the end of the financial year arrives on 30 June, it’s worth looking at ways to maximise any tax offsets, deductions and contributions – for your super and for working from home.
Click here to read more
Consumer Guide - Financial Planning in uncertain times
During these unsettling and challenging times, the last thing you need is financial stress. What’s most critical now is the health and safety of you and your family.
The Financial Planning Association of Australia have put together a consumer guide in the hopes that it will be a helpful tool for maintaining your financial well-being amid the current crisis.
Please click here to access the guide
What could the COVID-19 economic stimulus package do for my finances?
In March and April 2020, a whole range of payments have been announced for Australians looking for financial relief as a result of the COVID-19 pandemic and economic crisis. Click here to find out how you could benefit from the Federal Government’s economic stimulus package.
Take stock of how much conveniences are costing you
With weeks, and perhaps months, of self-isolation ahead, many of life’s conveniences like streaming and delivery services will become our essentials. But if you’re used to spending unlimited amounts to make life that little bit easier, now is a good time to look at what you can live without to make your budget go further.
Click here to read more
Withdrawing super - what to consider
The federal government has announced early access to super as one of their measures to support people experiencing financial hardship during the COVID-19 pandemic. However, there are things to consider when you access a lump sum from your super early, including ramifications, playing catch-up, and other options.
Click here to read more
Dealing with Redundancy
The unprecedented disruption caused by COVID-19 has left may coping with redundancy. Find out how you can best prepare yourself financially and emotionally for being off work, and whatever may come next, by clicking here