What is ‘Tenancy In Common (TIC)’ 1. "Tenancy in common" allows two or more people to be owners in a property.  Each owner has the authority to bequeath their share of the property to any chosen beneficiary upon the owner’s death. 2. "Tenancy in common" is different than joint tenancy because the transfer of the property to a beneficiary in...

From a young age we are taught…   GOOD GRADE = GOOD UNIVERSITY = GOOD JOB = GOOD MONEY     Teenagers are believing that this is the only route to lead a success. It’s a cycle, churning throughout time – being handed down from generation to generation, merely reciting what they heard from parents and teachers in the early...

Have you been struggling with the COVID-19 pandemic? Has the global pandemic affected your income adding financial stress not only to your household, but to your overall mental health? The markets took a major hit going up and down but whilst it is now starting to stabilise as we slowly loosen the restrictions, it’s never been better timing to look...

Amanda Cassar (Financial Advisor at Wealth Planning Partners) found when interviewing case studies for her book “Financial Secrets Revealed” that most children haven’t been taught how to manage or the value of money. With the technology changes and advances, can you think back to the last time your children purchased something using cash? Apple and Google Pay and pay later...

Are you affected by the increase in the Age Pension’s qualifying age? Take steps now to avoid getting caught short on retirement income. The minimum age to qualify for the Age Pension has started going up. For those born on or after 1 July 1952, the qualifying age increases by six months every two years until it reaches 67 in...

When deciding how to go about investing your money you need to decide whether you'll: do it yourself, or pay a financial advisor to do it for you Both options have their pros and cons. However, you can - of course, do both. Buy and sell investments yourself The advantage of choosing to invest yourself is that you're in control...

As record numbers of Australians transition into retirement, considering your retirement lifestyle, the cost of living and your expected annual retirement income, is crucial in your retirement planning. For many Australians transitioning into retirement, the increasing cost of housing is a hindrance on people’s ability to pay off their property before they retire, and this may push them into a...

As a Financial Advisor, we often have clients come to see us without their spouses, for investment or financial planning session. Having problems getting out of debt is our number one challenge with couples, and unfortunately has a severe impact their relationship. It’s not easy to experience the emotional turmoil that financial duress can have on clients, that their fights...

Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress. Here are some tips to help you effectively manage your household finances. 1 | Examine your finances Sitting down as a family and figuring out how much money is coming in and going out may...

In your 40s? Here’s what you need to consider to financially get ahead... Being in your 40s requires balancing many responsibilities and it can become easy to neglect your own financial wellbeing. However, it’s not too late to secure your future. Here are 5 tips that may help you financially make the most of your 40s. 1 | Create a financial...

Opposition steps up attacks on coronavirus support measure that allows people in financial distress to withdraw up to $20,000   Labour has said that Covid-19 economic crisis will greatly affect the younger generation, as it estimates someone who is approximately 25 years old who withdraws $20,000 from superannuation may be left up to $100,000 worse off in retirement. The opposing...

It is said that the Federal government may need to provide financial aid to sustain 2nd biggest economy to mitigate flow-on effects throughout Australia.   With the recent stage 4 lockdown newly enforced announced by the Victorian premier, Daniel Andrews, along with the shutdown of particular industries to be revealed on Monday, is said to have a hammer blow to...

The COVID-19 pandemic led to a global recession unfolding within the space of two months, with share markets collapsing and then staging a strong recovery. Markets have performed strongly even as we remain in the midst of tumultuous recession and a worsening global pandemic. How is this possible? COVID-19 recession & Understanding economic data Two types of data have been...

As you probably know, capital losses from falling share prices are realised only if the company goes into liquidation or the shares are sold. Leaving investments intact may well offer the best chance to rebuild balances when markets pick up again, as they eventually do.  But, this holding pattern can be hard for older people with account-based pensions due to...

Interest rates have been falling a lot faster and a lot longer than deeming rates for Centrelink and Veterans’ Affairs recipients, making it practically to even earn the current deeming rates from bank accounts.Higher-risk investments (in better markets) may potentially produce higher returns, but these are often not appropriate for people in aged care and can cause undue anxiety in times...

Here are four ways to try to boost your income… Are you asset rich but cash poor?  Turns out, you’re not alone. Data from the ABS (Australian Bureau of Statistics) shows that almost one-third of older Australians in low-income households were asset rich but cash poor.[1] Most wealth is tied up in illiquid assets, in particular the family home. But you...

Did you know there is over 10[1] million Australians with a superannuation account, approximately 36% of which hold more super accounts, which make up  $20.8[2] billion in ‘lost super’. Is some of that yours? Find it Moved house? Changed jobs? Don’t know where your teenage self stashed your super? It’s easy to track it down. Consider Combining it Save on fees, reduce...

Here's 4 ways to boost your income... Are you asset rich but cash poor? Turns out, you’re not alone. Data from the ABS (Australian Bureau of Statistics) shows almost one-third of older Australians in low-income households were asset rich but cash poor.[1] Most of their wealth was tied up in illiquid assets, in particular the family home. But, there's no need...

The Federal Budget explains to all Australians how the Government intends to manage the country’s finances. It outlines their tax and spending plans not only during the next financial year but into the future as well. Just like a household budget, the Federal Budget forecasts revenue and expenses to determine whether there is a surplus or deficit. It’s also a...

2018 has been a mixed year for investors, with some gains, and some losses. We’ve seen a complex economic environment with geopolitical and trade uncertainty, a change of PM (again,) a Royal Commission or two and the possible burst of the crypto-bubble.  Pretty easy to say, there’s been plenty going on that can affect markets, your investments and long-term retirement...