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End of Financial Year Reminder 2020/21
Read more: End of Financial Year Reminder 2020/21Salary Sacrificing a Bonus Awarded a bonus at work? Depending on circumstances, it may be worth salary sacrificing the bonus into superannuation. This can increase retirement savings & lower taxable income. The benefit depends on the difference between the 15% tax on super contributions and your marginal tax rate. Also be aware of the concessional contributions cap of $25k (increasing to $27.5k on July 1). Lump Sum Contributions & Carry Forward Cap If you haven’t used your concessional contribution limit of $25k and have money available to contribute, this is the opportunity. Further, if you have a larger sum of…
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Inflation or Not?
Read more: Inflation or Not?From pooches to second-hand cars, to homes in regional areas, to ground beef in the supermarket. Everyone has a story about how their money is buying less. Eight years ago, you could get this good girl delivered to your front for $1300. Today, or more precisely back in January, she went for $7990, and you had to front for delivery. While that’s a jump over 8 years, a good part of it has occurred recently. The pandemic had a spike of people wanting dogs. Breeders can only supply so many dogs, so they had the luxury of pricing according to…
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Solving the RAD Jigsaw
Read more: Solving the RAD JigsawA challenge for us all is to find somewhere affordable to live. When our health declines and we move into the frailty period of retirement, this challenge continues but our focus and choices shift from independent living to supported living in residential aged care. Like any accommodation decision, you will usually need to pay for a room in residential care. The most expensive room is around $2 million with the average across Australia just over $400,000. But if the thought of paying $400,000 or $500,000 or $800,000 or more for a room in residential aged care scares you, you may…
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When to Start the Aged Care Conversation?
Read more: When to Start the Aged Care Conversation?No-one likes to talk about getting old. But at what age should you start thinking about your aged care needs? The answer is simple – any age is a good time. This is regardless of whether you are in your early retirement years or well into retirement. If you are lucky enough to still have your parents, starting the conversation with them while they are still healthy is also sensible. They might not be thrilled that you’re raising the subject but it gives your parents an opportunity to think about what is important to them and give you some instructions,…
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Searching For Confirmation
Read more: Searching For Confirmation“Can you tell me which stocks to buy?” Jumping in the deep end before you can swim investment questions aren’t a new thing. People have always contacted us to ask questions that only prompt more questions. Ones they haven’t considered. It’s only natural that if your job involves money, someone will inevitably ask you about their stock or want a financial forecast. More and more, these questions have gravitated to the internet. A little anonymity means you don’t have to feel embarrassed to ask a straightforward question. The more seasoned investors would always snigger, but we all have to start…
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