Why your retirement intentions are critical

Have you given much thought to the age that you might eventually retire? Thinking well ahead about possible retirement timing is a fundamental part of financial planning – no matter whether you have spent years in the workforce or have just started your first job. In short, having an intended retirement date in mind helps us to calculate how much we should regularly save to meet that target. Fewer people than in the past leave full-time work on a Friday to begin full-time retirement the...

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Getting more out of income protection insurance

If you’re working and haven’t yet reached the point of financial independence then income protection insurance should be on your radar. As the name implies, it can help you protect your greatest asset – the ability to earn an income. At the heart of all income protection policies is the promise to pay the policy owner a regular benefit, usually 75% of their normal income, if they are unable to work due to accident or illness. Payments are made after an agreed waiting period and continue...

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Millions of multiple super accounts erode savings

One of the simplest ways to make your retirement savings more efficient and less costly is to get rid of needless multiple super accounts. The vast majority of super fund members with multiple accounts unnecessarily pay multiple sets of fund administration fees and insurance premiums. These extra costs compound over time to eat away at retirement savings. Further, members with multiple super accounts may have difficulty keeping track of how their retirement savings are invested, their asset...

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How do I decide between a fixed or variable interest loan?

Unsure about whether to lock down your interest rate for a period with a fixed rate home loan, or take your chances with a variable rate home loan?  It’s a decision everyone faces – from first-home buyers right through to investors - at various points in a loan’s life.  The choice can cause anxiety and confusion for some people because there’s no one-size-fits-all answer as to which option is better, and it can be hard to predict interest rate movements. Whether to go fixed or...

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Should I pay off my mortgage or contribute to super?

One of the most popular questions we are asked by our clients is whether it’s best to pay off their mortgage first or salary sacrifice money into their super fund – or can they do both? The answer to this question is never the same considering that everyone’s needs are completely different, but we thought we’d provide an explanation with some examples to give you an idea of how both options work. It’s not really a sacrifice Salary sacrifice means arranging for your employer to pay...

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