In the Zone - June 2022



Welcome to our June newsletter



It’s quite incredible to be at the halfway point of 2022! It’s been a busy year – not only for us from a financial planning practice perspective, but for the significant events that have occupied our thoughts both globally and domestically, such as the war in Ukraine, widespread flooding in QLD and NSW, COVID sicknesses affecting workplaces and a change of Government.

The economic landscape can be uncertain in a Federal Election year, so it is of some relief to have it behind us.


As you know, our passion is helping Queenslanders reach their financial goals. We are so happy to play our part in providing peace of mind in these uncertain times.

 

Economic Overview



The Reserve Bank of Australia is forecasting slower global economic growth. Although it’s pleasing to see advanced economies close to full employment, with commodity prices also rising significantly, and ongoing supply disruptions, inflation has been persistently high. This high inflation is clouding the global growth outlook. Moreover, wages growth has slowed, resulting

in a decline not only in real wages, but consumer sentiment. Growth in the global economy is forecast to slow in the year ahead.


Despite the slowdown in global growth, the outlook for the Australian economy remains strong, and an expansion in the Australian economy is underway and is expected to continue over the forecast period.


After slowing in the first quarter due to the Omicron outbreak, activity is forecast to regain momentum over 2022 as spending patterns and saving continues to normalise and a further tightening in the labour market supports real household income. The outlook for domestic demand in Australia remains positive.


 


Technology News

We are excited to be upgrading the technology we use for client management and financial planning. Our goal is to improve productivity and enhance digitalisation in our business. Our team are eagerly anticipating the conclusion of the migration. We also thank you for your patience during this time whilst we navigate the new system, as well as continue to run the old system in parallel.







 

Beware of Super Scammers!

ASIC is alerting consumers to a rise in investment scams impersonating companies or financial investment firms. Just recently they published a warning about scammers masquerading as Financial Planners, targeting Australians through an email or a phone call to establish Self-Managed Super Funds and to transfer money from an existing super fund to the new SMSF. The scammers are promising high returns of 8%-20% p.a.


They are unscrupulously using company names, email addresses and websites identical to legitimate Australian companies that hold an Australian Financial Services Licence.


For information on these scams, please read the articles below:

Please be aware of anyone calling or emailing you in relation to any financial service.


For more information on the latest scams affecting Australia visit www.scamwatch.gov.au

 

Stung by contactless payments?


If you’re an Aldi shopper, be mindful of a surcharge or “tap tax” payable on certain credit card and contactless transactions at the discount supermarket.


Aldi charges 0.5 per cent on all credit card and all contactless transactions. This means that customers will pay an extra 50 cents for every $100 worth of groceries they buy using these payment methods.


To avoid paying this surcharge, you can insert your debit card and select "savings", rather than tap. This is also a great reminder to always check the point-of-sale area for any signage or warnings about payment surcharges.



 

Ensure your loved ones know your final wishes

Your final arrangements go beyond what you want to happen to your assets, and the other formal instructions written down in a last will and testament. You may also like to nominate what type of funeral arrangements you want and what should happen to your remains after you're gone.


Creating a final arrangements document can ensure your final wishes are carried out upon your death and ease the burden of making those difficult decisions for your loved ones. Providing all the information they will need in one place to handle things can be very helpful at what will undoubtedly be a difficult time.


To make this an easy process, we have prepared ‘A Guide to your Final Wishes’ that you can complete and provide to your loved ones so they understand and enact your final wishes immediately following your passing. It’s a place where you can list specific instructions that is separate from your will or trust. The type of information to record in your final arrangements document includes:

  • Whether you want a funeral or memorial service

  • Where the service should be held

  • Who should be specifically notified of your death

  • Whether you want to be cremated or buried

  • Where you would like your ashes stored or disposed of or where you want to be buried

  • If you have money set aside to pay for your final expenses

Remember, this does not replace your Last Will & Testament, it is simply a supporting guide for your family to understand any informal wishes you want them to follow.

You never know when your time is up so don't wait to put your wishes in writing. It is also important to let your loved ones know that you have created this separate document and where it is being stored. This way, they can access it at the appropriate time.


You can download your copy here: ‘A Guide to Final Wishes.'

 

Want to speak to our Financial Planning team?

Investment Zone is here for you. Arrange a no-cost, no obligation appointment with Financial Planners Brad Macaulay at www.investmentzone.com.au/bookonline








 

The information in this communication has been prepared on a general advice basis only. The advice has been prepared without taking account of your specific objectives, financial situation or needs. Accordingly, you should, before acting on the advice, consider the appropriateness of the advice having regard to your objectives, financial situation, and needs. In cases where the advice relates to the acquisition, or possible acquisition, of a particular financial product, you should obtain a Product Disclosure Statement (or other relevant information statements) and consider such document before you make any decision about whether or not to acquire the product. For these reasons, it is imperative that you seek advice from your financial adviser before making any investment decisions. Investment Zone Pty Ltd (ABN 18 104 622 611) provides financial services as a Corporate Authorised Representative no. 296974 of Financial Force Pty Ltd ABN 42 091 425 464, AFSL no. 238337

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