In recent years, the use of Self-Managed Super Funds (SMSFs) for property investment has notably increased, and the average age of people establishing SMSFs has decreased. This trend reflects a broader shift in retirement planning, where much younger individuals seek more control over their future retirement and tailored investment strategies. A decade ago, SMSF was considered a vehicle for the wealthy only.   However, most clients establishing SMSF today are between 35 and 50 years old. Let’s delve into why SMSFs have become a popular vehicle for property investment and how this i ..read more

Ever thought about taking control of your retirement savings? That’s what a Self-Managed Superannuation Fund (SMSF) lets you do. It’s like having your own personal retirement savings plan that you get to manage and decide where to invest. Let’s talk about what SMSFs are, why they’re getting more attention these days, and how this structure can be a smart way to save on taxes. Why Are SMSFs Popular? Think of an SMSF as a personal savings account for when you retire. You decide where to invest your money, which could grow over time, if you invest wisely. You also can benefit from paying less ta ..read more

In the ever-changing landscape of the investment world, property investment has consistently proven to be one of the most lucrative and stable avenues for wealth creation. However, with rising property prices, accessing sufficient funds to invest in real estate can be a challenge for many aspiring investors. This is where superannuation and Limited Recourse Borrowing Arrangements (LRBAs) come into play. In this blog, we will explore the fascinating world of property investment and shed light on the potential advantages and risks of utilising LRBAs to finance your property ventures. Understan ..read more

AI has been heralded as both the harbinger of doom and the foreteller of greatness as its popularity has gained a foothold in dozens of industries. AI has become a useful tool for businesses, with automation, customer support, and even content generation among its uses. But does it have a place in the financial domain of wealth generation, advice and money management? All financial advice comes with risk. This risk does not differentiate between human or AI-generated advice. However, some factors might make AI intriguing/attractive to you. The cost of face-to-face financial advice is rising ..read more

Taking out a mortgage to fulfil your dream of house ownership will likely be one of the most significant financial decisions you could make. But with rising interest rates, monthly repayments and day-by-day costs straining finances across the country, are you able to refinance your home loan? Switching to another bank for your home loan is known as refinancing. Refinancing your home loan could help you: Save money with a lower interest rate or reduced fees Reduce your repayments Borrow more for a renovation, investments, or a new car Lock repayments in with a fixed rate home loan Consolidate ..read more

One of the most common questions that we encounter from those entering or nearing retirement is ‘How much money can I have before it affects my pension?’ Our answer is usually derived from the total value of your savings, other assets and any income that might be earned from other sources. However, from 1 July 2023, the thresholds that determine how much pension you may be paid are to change due to inflation-related adjustments. This means that many of those who may otherwise have been looking at a part-pensioner status due to being over the threshold will likely be able to be on a full pensi ..read more

We’re quickly approaching the end of the financial year, and it’s essential to ensure that your SMSF is in order and that you’re maximizing the available strategies. To help you with this, we’ve compiled a checklist of the most critical issues that you should address with your advisers before the year-end including pensions, contributions, property and cryptocurrency. Please continue to read here: Timing your contributions correctly: When making contributions, ensure that the funds reach your super fund’s bank account by the close of business on 30 June. Keep in mind that some clearing house ..read more

Bankruptcy is a legal process that can be commenced when you are declared unable to pay your debts. It is a process that can release you from most debts, provide relief and allow you to make a fresh start. There are two ways that you can enter into bankruptcy. These are Voluntary Bankruptcy – where you nominate yourself for bankruptcy by submitting a Bankruptcy Form. Sequestration Order – this is where your creditors can make you bankrupt during a court process. When you become bankrupt, the Australian Financial Security Authority appoints a trustee. This trustee is a person or body who man ..read more

Individuals with high debts might see bankruptcy as a solution to their problems. However, declaring bankruptcy has serious long-term consequences and should be considered a last-resort option. A personal insolvency agreement (PIA) is a formal way to deal with unmanageable debt without declaring bankruptcy. It provides a flexible way for individuals to come to an agreement with their creditors to settle debts. A PIA is a legally binding agreement in which an individual agrees to pay creditors in full or in part by instalments or a lump sum. For an individual to propose a PIA, certain conditio ..read more

If more than 30% of your pre-tax income is being put towards mortgage payments, you will likely join those suffering from mortgage stress. Almost one-quarter of mortgage holders were at risk of mortgage stress in December 2022, and it’s expected that the number will increase as the year goes on. The RBA has been increasing interest rates since May 2022 in response to soaring inflation (currently at 7.8%), with the official cash rate currently at 3.35% (the highest since 2012). This has been reflected in the amount of interest that home loan owners have to pay on their current mortgages. What ..read more