John Simpson was a fit and active 45-year-old who drowned while swimming in surf on a family holiday. Witnessing this tragic event unfold from the beach were John’s wife, Joanne, their 15-year-old daughter Sophie and 12-year-old son Zac. Relatives and friends were a great support during the following days, but soon after the funeral, and still in a state of profound grief, Joanne had to assess the state of the family finances. Until that time she wasn’t aware that the Simpson
We understand the importance of insurance for income, life, our home and our car. We may even have health insurance too. But are you familiar with insurance that will cover you if a household worker is injured at your home? Do you ever hire a cleaner, babysitter, gardener or similar? Directly paying workers to help in or around your home means you could be considered an employer, even if the worker has an ABN. If someone you hire is injured while working for you, you may be l
Property investment is one of the main ways Australians build wealth. It’s the great Australian dream to build a property portfolio, right? When it comes to investing in property, it’s easy to let your emotions rule. Before you make any snap decisions, you should consider the benefits and risks associated with this type of purchase. Purchasing a property for investment purposes can involve a different set of considerations compared to purchasing a home to live in. Here are s
What to look for BEFORE you sign the insurance dotted line! Buying Life Insurance Using A Financial Adviser One thing that I find myself talking about to my clients lately is what’s the difference between having a Financial Planner sort out my insurance vs just going online to get it done. So I thought it was time for some straight up facts! I wanted to share a conversation I had last week with some great clients around the pro’s & con’s of going online to buy your insurance.
The Superannuation Co-contribution Scheme started in 2003/04 to encourage us to make personal contributions to superannuation. It was targeted at low to middle income earners and has been improved progressively since then. Over 405,000 Australians claimed almost $130 million in Government co-contributions in 2017/18. A lot of people are taking advantage of this opportunity. How does it work? If you're a low or middle-income earner and make personal (after-tax) contributions t
Since precautionary measures were heightened to slow the spread of COVID-19, almost 1 million Australians have lost their jobs. According to the Australian Bureau of Statistics, Australia lost 7.5 per cent of its jobs between 14 March and 18 April. If you're one of the many Australians who has lost their job, it's understandable that you may be feeling stressed about managing your finances. 1) Put together a new Budget The first thing you need to do if your income has fallen
The first quarter of 2020 will forever be remembered for delivering one of the greatest health and economic shocks of all time. The economic damage was an inevitable consequence of governments worldwide taking unprecedented action to curb the spread of the novel coronavirus that emerged in China in December 2019. Never have so many people in so many countries experienced such major upheaval to their daily lives at the one time. With numerous countries enacting harsh measures
Still reeling from the Black Summer bushfire crisis, followed by flooding in some areas, Australians are facing yet another challenge. We are starting to see the Covid-19 outbreak impacting our psyche, and as we follow the news reports of the outbreak while trying to form a balanced view of the outlook (beyond the hysteria), we ask, what impact is the coronavirus having on Australian and global economies? What's been happening in markets? We are seeing a major correction occu