How to Make Salary Sacrifice Contributions to Super
, ,

How to Make Salary Sacrifice Contributions to Superannuation

Making salary sacrifice contributions to superannuation is a strategic way to boost your retirement savings and enjoy immediate tax benefits.
The Role of Income Protection
,

The Role of Income Protection in Financial Planning

Income protection insurance is a critical component of financial planning in Australia. It provides a safety net that ensures financial stability and peace of mind during times of illness or injury.
The Pros and Cons of Managed Funds
,

The Pros and Cons of Managed Funds

Investing in managed funds in Australia comes with its set of advantages and disadvantages. While they provide professional management, diversification, and convenience, they also entail fees and reliance on fund managers.
How to Calculate Your Income Protection Needs
,

How to Calculate Your Income Protection Needs

Calculating your income protection needs involves evaluating your financial situation, understanding policy options, and considering various personal factors.
How to Choose the Right Income Protection Policy
,

How to Choose the Right Income Protection Policy

Selecting the right income protection policy is a crucial decision that can safeguard your financial well-being in times of adversity.
How to Choose a Superannuation Fund
,

How to Choose a Superannuation Fund

Choosing the right superannuation fund is a critical decision that can significantly impact your financial future. With numerous options available, it’s essential to understand the intricacies of each type of fund and the factors that should influence your choice.
Understanding Super Contributions
, ,

Understanding Superannuation Contributions

Superannuation contributions are a fundamental aspect of financial planning for retirement in Australia. They represent a vital component of ensuring financial security and comfort in one’s later years. Regular contributions to your superannuation fund can significantly enhance your savings, providing a robust financial buffer when you retire.
The Best Superannuation Funds in Australia
, ,

The Best Superannuation Funds in Australia

Selecting the right superannuation fund is a pivotal decision that can significantly impact your financial future. With superannuation being a major source of retirement income for Australians, choosing wisely ensures that your retirement savings grow optimally, offering you financial security and peace of mind.
Understanding the Basics of Superannuation
, ,

Understanding the Basics of Superannuation

Superannuation serves as a pivotal element in the architecture of financial planning, particularly in Australia. It ensures that individuals accumulate sufficient funds to support their lifestyle post-retirement, alleviating reliance on government pensions. This comprehensive savings mechanism fosters financial independence and security in one’s twilight years.
The Best Ways to Use Your Tax Refund

The Best Ways to Use Your Tax Refund from the ATO

Receiving a tax refund from the Australian Taxation Office (ATO) can feel like an unexpected windfall. Instead of splurging impulsively, leveraging this money to bolster your financial health is a savvy move that can yield long-term benefits.
How to Review and Optimise Your SMSF Performance
, ,

How to Review and Optimise Your SMSF Performance

Self-Managed Super Funds (SMSFs) offer a unique opportunity for individuals to take control of their retirement savings. Regular reviews and optimisations are essential to ensure that your SMSF is performing at its best and aligning with your financial goals.
Australian Federal Budget 2024-25 What You Need To Know

Australian Federal Budget 2024-25: What You Need To Know

The Australian Federal Budget for 2024-25 has been unveiled, marking a crucial blueprint for the nation's economic trajectory. This article delves into the key elements of the budget, providing a comprehensive analysis of its implications for various sectors and demographics.
EOFY Financial Health Check
, ,

EOFY Financial Health Check: Are You on Track for Retirement?

The end of the financial year (EOFY) presents a critical juncture to assess and optimize one's financial health, particularly regarding retirement planning. This comprehensive health check ensures that you are on track to meet your long-term goals and can make informed adjustments as needed.
Top tips to avoid excess contributions in 2023-24 and 2024-25
,

Top tips to avoid excess contributions in 2023/24 and 2024/25

This guide explores strategies and potential pitfalls to consider to stay within the super contribution caps for the current and upcoming financial years.
Why do regional airlines like Bonza go broke in Australia

Why do regional airlines like Bonza go broke in Australia

Australia's aviation industry is a dynamic ecosystem, encompassing both national and regional airlines. The market's growth has been marked by rapid evolution, including new entrants, mergers, and, unfortunately, numerous failures. These shifts reflect the complexity of the industry's financial landscape, which has seen many players come and go.
Can I Put Inheritance Into Superannuation

Can I put inheritance into superannuation?

Putting inheritance into superannuation involves transferring assets received through inheritance into one's superannuation account. This can be done through various strategies and considerations.
Adviser Ratings - Gold Adviser

Efficient Financial Planning in Toowoomba

The bustling city of Toowoomba, nestled in the Darling Downs region of Queensland, presents unique financial planning opportunities. With its diverse economic fabric, understanding the local economy is essential for crafting an efficient financial strategy.
Financial Planning For Young Australians.

Financial Planning for Young Australians

This blog post delves into why initiating financial plans in one’s youth is not just beneficial, but essential, and outlines effective strategies to overcome challenges while maximizing financial opportunities.
Top Tax Tips for Australians in FY24.

Top Tax Tips for Australians in FY24

With the Australian Taxation Office (ATO) continually updating its guidelines, it is crucial for individuals and businesses alike to stay abreast of these changes to optimise their financial strategies.
Hacker.
,

How can you protect your investments from cyber threats?

In today's digital world, where convenience often means interacting online, protecting ourselves and our loved ones from cyber threats is more important than ever. This is especially true for seniors, who may be unfamiliar with the latest online…
Man standing on a rock overlooking a mountain.
,

How to Keep Your Life Insurance Affordable Over Time?

This blog post aims to explore strategies to keep your life insurance affordable and accessible throughout your senior years.
Emergency Signage.
,

How much emergency fund should I have?

Life is unpredictable. Unexpected events like job loss, medical emergencies, or natural disasters can throw your finances into disarray. That's why having a strong emergency fund is essential for Australians.
Happy woman enjoying snow during Christmas.

How to save money during the festive season?

In this blog post, we will explore practical ways to enjoy the festivities without hurting our pockets.
Little boy saving coins in his piggy bank.

How to set up your child for financial success?

Setting a financial foundation early on is pivotal to ensuring our children lead prosperous and stress-free financial lives.
Happy old man in black suit.

How to Choose a Financial Adviser – A Comprehensive Guide

So, you're wondering how to choose a financial adviser?  When it comes to managing your finances and planning for the future, a financial advisor can be an invaluable partner. However, choosing the right financial advisor is a critical decision…
Silverware table settings representing inheritance.
,

What to do with an inheritance?

In this blog post, we'll help you navigate the path ahead, offering straightforward advice to make the most of this opportunity.
ESG investing.
,

What is sustainable investing?

In today's rapidly changing world, sustainable investing has emerged as a powerful approach to aligning financial goals with positive environmental and social impact. If you've ever wondered what sustainable investing is all about, you're in the right place. 
A group of dice with different colors.
,

How does debt consolidation work?

If you're struggling with multiple debts and finding it difficult to keep up with various payments, debt consolidation could be the solution you've been looking for.
A person is using a spreadsheet to calculate the impact of interest rates on inflation.

How do interest rates affect inflation?

Understanding the connection between interest rates and inflation is vital for individuals, businesses, and policymakers.
Investment growth watering.
,

What is a dividend reinvestment plan?

In this blog post, we’ll cover everything you need to know about what a Dividend Reinvestment Plan is, how it works, the benefits of using one, where people can get started with setting up such plans and more!
Tap money passive income.
,

What is a passive income?

In this post, we’ll provide an overview of what passive income is and why it matters for those aiming to build long-term financial security.
Real estate agent posting a sold sticker.
,

How to privately sell a house?

Are you looking to privately sell a house? Selling your home can be an emotional and complex process, so understanding the specific legal and financial requirements of such a sale is essential. 
Employees discussing business succession planning.

What is business succession planning?

Are you the owner of a business? Do you know who will take over when it's time for you to move on? When running a business, no one likes thinking about retirement, but planning ahead is essential if your organisation is going to keep achieving success. 
Trash bins in different colors.
,

What is debt recycling?

This blog post will discuss what debt recycling is, how it works in Australia, its benefits metrics, its downfalls, and some helpful tips on how to best approach this strategy. Let's dive right in!
Man writing something about mortgage loan on white board.
,

What is Lenders Mortgage Insurance?

In this blog we will discuss everything from what exactly is LMI to whether or not it's worth your time. So read on for all of your questions about Lenders Mortgage Insurance!
Small figurine of a financial advisor on the table.

What does a financial advisor do?

In this blog post, we'll discuss how working with a trusted professional can help support your long-term financial objectives. 
Credit Union Building.

How to fix your credit score?

In this blog post, we will take you through the key steps that can help put you on the path to a better credit rating and free up some of the financial stress. 
Senior couple using a card for online transaction.
,

How to apply for a Commonwealth Seniors Health Card?

In this blog post, we’ll provide step-by-step instructions on how to apply for the Commonwealth Seniors Health Card so that you can take full advantage of its many benefits. Read on today and stay informed about one of Australia’s best health cards!
Umbrella with different colors.
,

Group Insurance vs. Retail Life Insurance: Understanding the Difference

This post will outline the fuller implications of these options so that you can make a more informed decision when selecting a suitable policy.
Get out of debt pinned.
,

How to get out of debt?

This blog post outlines everything you need to know about how to get out of debt in Australia – from strategies for managing money more efficiently all the way through consolidating existing loans.
Stethoscope with calculator and piggy bank.
,

What is medicare levy surcharge?

In this blog post, we'll discuss everything you need to know about MLS in Australia - including key definitions, usage, calculation methods and more.
Balancing debt and income.
,

How is debt to income ratio calculated?

In this blog post we'll provide an overview of what a debt to income (DTI) ratio is and explain how it's calculated. Read on if gaining control over your finances is something that interests you!
Happy couple buying a house.
,

Can super be used to buy a house?

In Australia, it's actually possible to use your super fund to purchase property. But before we dig into how this works and the benefits involved - let's explore exactly what constitutes 'superannuation' in Australia.
Man using laptop to monitor trading.
,

How to pay super as a sole trader?

In this blog post, we'll explain everything you need to know when it comes to paying superannuation as a sole trader in Australia - from how the process works and who's eligible for payment, all the way through to what happens if it isn't paid correctly.
Man holding a transparent jar filled with paper money and coins.

How much super does my employer pay?

Do you feel overwhelmed when trying to work out what percentage of your wage should go into your super fund? If you're an Australian looking for financial advice, understanding the ins and outs of superannuation can feel complex - but we've got some tips to help break it down.
Hanging pink piggy bank.
,

Is superannuation an asset?

Understanding the world of money and superannuation can be a difficult task, especially when it comes to understanding where your hard-earned savings stand. So, is superannuation an asset? It's understandable to feel overwhelmed by all the financial terms, but don't worry - we're here to break down everything you need to know.
Miniature house with keys and paper.
,

Can I use my super as a house deposit?

Do you dream of owning your own home but, the thought of gathering a large house deposit is keeping you awake at night? If so, have no fear - help is here! We're going to explore whether using superannuation as a house deposit could be an option for Australians wanting to secure their financial future.
Woman went shopping wearing a sunglass and holding a phone.

The future of banking: Marketplace lending revolution

The banking industry is in the midst of a major transformation, and at the forefront of this change is marketplace lending. This new form of lending is deemed to be the future of banking because it enables borrowers to access financing from a variety of sources, including other individuals, rather than traditional banks.
Financial New Year Kick Off Strong in 2023.

Financial New Year: Kick Off Strong in 2023

As we start the new year, we often reflect on the past 12 months and think about our financial goals for the future. As a business owner, worker, or retiree, it's important to think about our money goals and what we want to achieve.
Family walking around in a Christmas market

How to create a holiday budget and stick to it

In this blog post, we'll provide tips on how to create a holiday budget and stick to it so you can enjoy the season without breaking the bank. Whether you're looking to save money on gifts, travel, or events, we've got you covered.
Financial Mistakes

Banking vultures slammed after widowed single mum loses house

Protecting Your Loved Ones: The Importance of Death Benefit Nominations for Superannuation and InsuranceAs financial advisers, we often emphasize the importance of comprehensive estate planning to our clients. Yet, the story of Stephanie Stevens…
Financial Mistakes

The first rule of fight club don’t talk about fight club

Financial Lessons from Fight Club: Punching Debt in the Face and Building WealthHey, savvy investors! Today, we're diving into the gritty world of Fight Club to uncover some unexpected financial wisdom. You might be scratching your head and…
Keeping up with the Joneses.

Costs of keeping up with the Joneses

A popular quote about money and happiness states that while money cannot directly buy happiness, it can provide the means to enjoy experiences and possessions that can bring happiness.
Flag of the United States.

Can a US recession be a good thing?

The hot topic at the moment seems to be about the US recession and whether it will avoid it or go into it.  But we are in Australia, so should we care?  Well, unfortunately our market sentiments are largely connected, so if the US sneezes, we catch a cold.
What are the best ways to avoid credit card debt.

Ways to avoid credit card debt – learn 4 methods

This article emphasizes the importance of managing credit cards and provides simple suggestions for using them as a tool for effective money management.
Six Steps to Effective Debt Management.

Six steps to effective debt management

Australian households are among the most indebted in the world, and it is crucial to take action now to avoid losing everything. This article provides six key steps for effective debt management that will help you quickly and efficiently get your cash flow back on track.
Financial Advice Videos

What good is a financial plan without a regular review

When it comes to financial planning, many people think that they are done once they have put together a plan. However, this could not be further from the truth! A good financial plan is one that is regularly reviewed and updated.
How to stop living paycheck to paycheck.

How to stop living paycheck to paycheck?

The article explains that living paycheck to paycheck is not a desirable situation, but rather a financial emergency. It provides advice on how to break the cycle of constantly needing to rely on each paycheck to get by, through making better financial decisions and getting back on track with one's expenses.
An important conversation with parents and kids.
, , , ,

An important conversation with parents (and kids)

Older people tend to be very private when it comes to topics such as their finances, estate planning, and aged care. This article offers guidance on how to initiate open and productive discussions with an elderly relative and your children.
Hacker wearing a black jacket and a mask.

Your bank account is only as safe as your weakest password

Protecting your information online is becoming increasingly important as cyber attacks are increasing over time, especially in the health sector. There have been many successful attacks on large businesses, universities, and even government agencies that have been victims.
How to go broke trying to get rich quick

How to go broke trying to get rich quick

Can you really become wealthy from a get-rich-quick scheme? This article addresses the many “investment opportunities”, both legal and illegal, that promise big returns over a short period of time, explaining the risks associated with each, and the importance of professional advice.  
What is money.

What is money?

This article provides an overview of the concept of money and currency. It covers the history of banking and money, and explains the key characteristics of money. Additionally, it discusses the evolution of money from its origins to the current day.
Importance of Record Keeping in Small Business

Importance of Record Keeping in Small Business

According to the Australian Taxation Office (ATO), poor record-keeping is a common reason for the failure of small businesses. In addition to being a legal requirement, maintaining accurate records can have numerous financial benefits.
What rising inflation means for you.

What rising inflation means for you

The word “inflation” has been largely ignored by a whole generation until now. The Reserve Bank of Australia predicts that our underlying inflation will rise to around 6% in the second half of 2022. But what is inflation and how does it impact you?
What will a labor win mean for markets.

What will a labor win mean for markets?

The Labor’s election victory marks the end of the Coalition’s almost decade long reign. Regardless of the election outcome, the bigger question will be being able to govern effectively in a world of higher inflation and interest rates.
Need help with tax planning.

Tax Planning: Forward Planning Reaps Rewards

The tax planning is the process of arranging your affairs in such a way as to minimise your tax liability. It involves looking at both your current situation and anticipating any changes that may occur in the future.
Five proven ways to decrease taxes.

Five Proven Ways to Decrease Taxes

Benjamin Franklin's famous quote, "In this world, nothing can be said to certainly exist, except death and taxes," is just as true today as when it was first said. The only thing that has changed over the years when it comes to taxes is the taxation law-with so many options available.
An old man looking far away in the beach.

Financial Planning: Looking at the Past to Plan Ahead

Financial planning means planning for the future. If you want to plan for the future, you should take a look at your current situation, assess and then write down what you want to do in the years to come. You can do financial planning yourself or you can do it through a financial planner.
financial checkup

12 Important Questions for a Financial Checkup

Financial Checkup is an opportunity to review your financial situation over the past year and ensure that you are still managing your money effectively. It is a good time to take stock of your income, expenses, etc., and make any necessary adjustments to ensure that you are on track to meet your financial goals.
Australian Federal Budget 2022 Summary

Australian Federal Budget 2022 Summary

With the federal election only a couple of months away, it was no surprise to see an Australian federal budget filled with announcements that will appeal to the life of voters – such as cost-of-living relief payments, tax cuts, improved parental leave, small business incentives, and investing in healthcare and essential services.
Is the Australian entrepreneur in you calling

Is the Australian entrepreneur in you calling?

The Australian Small Business and Family Enterprise Ombudsman reported that the number of small and micro businesses in Australia has significantly increased in 2020. If you are considering starting a home-based business in Australia, here are some tips to help you get started.
Financial Resolutions to Start the New Year.

Financial Resolutions to Start the New Year

Many people set financial goals as New Year's resolutions in order to achieve bigger and better things. These goals can help you save money and improve your financial situation. If you want to set financial resolutions, here are some suggestions that can help.
credit cards

Are credit cards retiring in 2022?

Credit cards have been the dominant form of financial payment for the last 40 years, but recently, there has been a shift towards other financial media to reduce charges and costs. Despite the rise of new financial media in Australia, the use of credit cards decreased.
Woman swimming.

How to maintain Strategic Financial Plan

Financial planning allows you to assess your present condition and plan for your financial future in life so you don't make the same mistakes you made in the past. You may have more control over your finances by creating a strategic financial plan. You make money work for you rather than the other way around.
your future your super bill

Your future your super bill passed 2022

Significant advice opportunities have been created, particularly for older clients, as a result of the passing of the 2021 Federal Budget super proposals. We summarise the Your Future, Your Super reforms to help you navigate the new rules as well as highlight key advice opportunities to maximise client outcomes in 2022 and beyond.
Personal Financial Management Plan

Personal Financial Management Plan

We believe that the key to prudent personal financial management planning is to conduct regular reviews of our clients’ investment and superannuation portfolios, and, of course, a review of their overall financial planning requirements. 
A logo of AIOFP.

AIOFP Video – state of the financial advice industry

As a member of the Association of Independently Owned Financial Professionals (AIOFP), we are sharing this video that they produced outlining the state of the financial advice industry in Australia.
Superannuation the greatest tax avoidance tool.

Superannuation – The greatest tax avoidance tool

I'm okay paying tax, but as Kerry Packer famously said, "Of course I am minimising my tax." And if anybody in this country doesn't minimise their tax, they want their heads read because, as a government, I can tell you that you are not spending it that well, that we should be donating extra."
2020-21 Australia Federal Budget Overview

2020-21 Australia Federal Budget Overview

Australia Federal Budget Overview for 2020-2021.
Boost your income.

The New Income Protection Rules in Australia

Do you rely on working and earning an income? Do you have family and loved ones that rely on you and who depend on you to provide an income for them? If you said "yes" to any of these questions, then you need to act now!
Transfer Balance Cap

Transfer Balance Cap Australia Explained

The government introduced a Transfer Balance Cap (TBC) in July 2017, which effectively limits the total amount of superannuation available to be transferred into a tax-free retirement phase pension.
Could a Tree Change Work For You

Things to Consider When Making a Tree Change

Now that working from home is the norm, an increasing number of people are considering relocating to the countryside to enjoy the fresh air. If you're going to uproot your entire life and relocate to a small town, there are a few things you should think about first.
Record Housing Loan Commitments Continue

Record Housing Loan Commitments Continue

In December 2020, the Australian Bureau of Statistics (ABS) reported that new loan commitments continued to soar and break records, driven by owner-occupier home loans and first home buyers. 
Covid Vaccine

The Autumn season 2021 update is here!

For many, the uncertainties of last year have caused a shift in priorities, and the lure of escaping the cities for more idyllic country lifestyle is tempting. In this edition we take a look at some key considerations when contemplating a tree change.
Gamestop Store

Gamestop – What is happening on Wall Street?

What is GameStop and what on earth does it have to do with us in Australia? GameStop Corp is an American video game, consumer electronics, and gaming merchandise retailer.
Merry Christmas

2020 – The year that was Wealth Factory

Quick overview of everything that happened in Wealth Factory in 2020.
Person connecting pins using a nylon.

How does long term financial planning work?

Financial planning is a process. This is the reason it is often more expensive than people expect. If your super fund is providing limited free advice, they are likely conflicted and not going to suggest or compare external products.
Budget update

Budget 2020-2021 Update

Update on Federal Budget 2020-2021
income protection, Why is financial advice expensive?

Why is financial advice expensive?

Why is financial advice expensive? It's because it's a long process. This explains why it is often more expensive than customers think. Some people even assume it will be free, yet free lunches don't exist. 
Coins and a seedling.

$10000 from super: should you do it?

Hi everyone, it's Rob from Wealth Factory and I just wanted to run through the disadvantages of withdrawing $10000 from super, some figures I have calculated and, if you have to do it, as some of you are doing it tough at the moment, how to get back to the position you were before.
Wealth Protection Advice

June Update

June Update
Retirement Financial Planning

May Update

May Update
Managing Retirement Savings in Volatile Times

Managing Retirement Savings in Volatile Times

It's never too early to begin making plans for a better financial future. Here are some tips for managing retirement savings in volatile times. Don’t panic. Things will recover over a long enough time period.
5 Financial Challenges That Advisers Solve

5 Financial Challenges that Advisers Solve

You may be on the fence about whether hiring a financial adviser makes sense for you. So, why would someone hire a financial adviser rather than manage their own money? Here are five problems that many consumers face that can be alleviated by hiring a pro.
2020 sucks

Welcome to 2020!

Wealth Factory 2020
Financial Mistakes

November Update

November Update
An attorney holding a wooden gavel.

Protecting Your Super Legislation Australia

The "protecting your super" legislation is aimed at protecting people's super with adjustments to insurance in super, fees, and lost member accounts. Insurance inside super may be cancelled if you don’t opt in to keep it. Make sure you're up to date on the situation and know what you should do if you're affected. 
Paying goods using credit card

Paying off your credit card after the fun is over

The holidays are over, and you’ve had a great time. But, the dreaded credit card statement has arrived, and you wonder how you’re going to pay it off. The happy holiday memories suddenly disappear. Paying off your credit card debt is hard. It takes a lot of discipline.
Miniature of an elderly couple.

What is the deal with superannuation?

What is the deal with superannuation? Superannuation is a hot topic at the moment. In this blog post, we'll explore what superannuation is and how it works in Australia. We'll also look at some of the key issues surrounding superannuation and provide some tips on how to make the most of your retirement savings.
Financial Mistakes

The financial mistakes I made at the start of my career

I have indeed made financial mistakes. I am passionate about what I do because of that. I am familiar with the struggle of living paycheck to paycheck, and I now understand how to fix it. I enjoy helping people in taking charge of their finances.