The money you pay as a lump sum for your residential aged care room will be refunded to your estate – so what do you need to know about when and how your money is refunded? Accommodation payments (called Refundable Accommodation Deposits – RADs for short) are one of the most misunderstood areas of residential…
It’s a risky business being in business for yourself, so knowing how to identify and manage risk is an important part of running a thriving business. Anything that impedes a company’s ability to achieve its financial goals is considered a risk, and there are many issues that have the potential to derail a successful business….
If you are feeling a bit like the meat in the sandwich you are not alone. The ‘sandwich generation’ is a growing social phenomenon that impacts people from all walks of life, describing those at a stage of their lives where they are caring for their offspring as well as their elderly parents. The phenomenon…
If you’re nearing retirement age, you may be wondering if you will have enough saved to give up work and take it easy, particularly as cost-of-living increases hit some basic expenses such as energy, insurance, food, and health costs. Fortunately, someone has already worked out what you might need. The Association of Superannuation Funds in…
Are you confused about aged care fees and what they all mean? You are not alone. In this article, we simplify the basics of aged care fees for you. If you, or someone you love, need to make a move into residential aged care, understanding the fees and getting a clear picture of what it…
While it seems we all like to think we are clever enough to outwit a scam, Australians collectively lost more than 480 million to scams last year. Every year scammers get more sophisticated in the methods they use to part us with our money – or our valuable personal information. It’s important to recognise that…
Financial markets can be like finely tuned racehorses, poised to gallop ahead under ideal conditions but often highly reactive to unexpected events. It’s often said that the markets love certainty. Investors feel more confident when economic conditions are stable and predictable. But certainty in financial conditions is never a sure thing. Uncertainty is always just…
As the end of financial year gets closer, some investors are thinking about the most effective ways to boost their super balance, particularly with an increase in the caps on contributions from 1 July. The concessional contributions cap, which is the maximum in before-tax contributions you can add to your super each year without paying…
Most Australians want to share their wealth with the next generation but are unsure how to transfer that wealth and need help to plan for an effective transfer. Financial advisers are well-placed to meet those needs, according to the findings of a new report from Fidelity International and independent research firm, MYMAVINS. To help financial…
The much-debated tax on superannuation balances over $3 million is inching closer and those who may be affected should ensure they have considered the implications. Although it is not yet law, the Division 296 tax should be taken into account when it comes to investment strategy and planning, particularly in relation to any end-of-financial-year contributions…
