Moving into residential aged care can be stressful with complicated rules, family conflicts and rushed timeframes. This can easily lead to mistakes, which can be costly and difficult to rectify. This article highlights three common mistakes and tips to avoid traps. Rushing your decision The biggest expense you will face is the cost of your…
The saying goes, you can’t have your cake and eat it too, but with a new brain-friendly cake perhaps you just can. With the Summer holidays here, you might not want to think about the impact on your waistline. How often are we told that we should stop eating cake and sugar to lose weight…
We spend decades watching our super balances grow but for those thinking about retirement in the next few years, it can be confusing to work out how best to use your super. Here are some of the considerations for the popular options. Easing into retirement You can keep working and receive regular payments from your…
A New Year is a chance to start afresh and move into the year ahead with confidence and optimism that it’s going to be a great one! Part of setting yourself up for a wonderful year can sometimes be letting go things in your life that are not so beneficial for you and may be…
Australia’s economy stubbornly defied predictions during 2023, dashing any hopes that we might begin to return to some kind of normal. Some had expected an end to the Reserve Bank’s continued cash rate rises during the year. Instead, inflation has been a stubborn foe and we saw five rate rises. On a positive note, superannuation…
It’s nice to enjoy a break over the summer months. In fact, it’s an Aussie tradition – that mass exodus after Boxing Day that sees us head off for some well-earned rest and relaxation. However, it can be hard to unwind when we have a device in our pocket buzzing away every couple of minutes….
The festive season is a time of joy and celebration but, for some, it can also lead to a financial hangover in the New Year. Overspending on gifts, parties, and decorations can quickly add-up, leaving us with unwanted debt in the New Year. In 2022, Australians spent more than $66.7 billion during the pre-Christmas sales…
How much tax you pay on retirement income depends on your age and the type of income stream. For most people, an income stream from superannuation will be tax-free from age 60. How super income streams are taxed Types of super income streams Income from super can be an: account-based pension — a series of regular…
Australia is a giving country, but we often give in kind rather than financially. Whenever there is a disaster here or overseas, Australians rush to donate their time, household goods and cash. However, we still lag other countries when it comes to giving money. According to Philanthropy Australia, our total financial giving as a percentage…
Many people assume there is no tax payable on super benefits received after someone passes away, but that’s not always the case. Whether or not tax is paid on a super death benefit depends on the beneficiary’s relationship with the deceased. Although some beneficiaries receive their money tax-free, others can find themselves paying significant amounts…
