Archive for category: Financial Planning

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.

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.

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.

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.

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.

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.

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.

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.

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.

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."

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.

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.

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.

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.

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.