Budgets come and go, but good planning lasts. In this year’s Federal Budget update, we unpack the proposed changes that could influence your investments, property strategy, super and retirement, and explain what to consider before those changes take effect.
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A reflection on an engaging evening with Dr. James Muecke AM, highlighting the connection between informed choices, wellbeing and the future we want to build.
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With 30 June approaching, now is a good time to review your super and tax position. This article outlines key EOFY planning areas to consider, including contribution caps, pensions and important cut‑off dates.
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Markets have turned noisier, with geopolitics putting oil back in the spotlight and raising fresh questions about inflation and interest rates. This quick read explains the key risks we’re watching and the practical steps to make sure your finances stay on track.
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With the right planning, you can have an incredible lasting impact on future generations.
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Volatile times can leave many investors paralysed with fear, however it’s precisely at times like this that the savvy investors can set themselves up to build generational wealth.
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These days there’s no shortage of people who’ll be very quick to offer you financial advice, but it’s important to know who you can trust.
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Life can sometimes serve up major setbacks, such as debt and divorce, but there are ways to make a full financial recovery.
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Life is busier than ever before and with so many things to get done, it can be easy to put off finding a good financial planner.
However, the ‘maybe later’ approach will eventually catch up with you and have a significant impact on your future.
In this blog, we explain seven ways a financial planner can put you on the path to the life you want and the legacy you deserve.
Many of us have set out with the best intentions to create a household budget in the hope of finally getting ahead.
In theory, it all sounds quite easy – spend less than you earn and use the rest for savings and investments.
However, there are always unforeseen life events that get in the way. For example, an unexpectedly large electricity bill, a trip to the vet for your pet, or that must-have expensive Christmas gift for a member of your family.
A financial planner can offer expert tips to better ensure you’re prepared for these surprises and can teach you to grow your overall wealth.
When working hard and pouring your money into investments, the last thing you want is to lose a big chunk of it in tax, especially when you don’t have to!
Working with your accountant, a financial planner will ensure your financial assets are structured in the most appropriate way to minimise your tax liability. This factors in things like superannuation, family and discretionary trusts, private and public companies as well as individual and joint business names.
A financial planner can also provide advice around negative gearing and salary sacrificing.
Australians are among the most indebted people in the world and many don’t know how to break free.
A financial planner can help you build a strategy for managing your debt, whether it be in any of the following forms:
A financial planner can also help educate you on the difference between ‘good’ and ‘bad’ debt and explain why ‘good’ debt can actually help you in the long run.
The thought of retirement often induces a lot of fear.
You’re already working so hard to keep on top of your financial obligations today, how could you continue to provide for your family and enjoy your lifestyle without a working wage to rely on?
With expert help from a financial planner, you can put a plan in place that will position you for independence and retirement, whilst securing your family’s future.
Retirement might feel a while away, but the sooner you start preparing the better off you’ll be.
A financial planner can help to define ‘life after work’, and build a plan to get there.
When you think about the legacy you want to leave, what does it look like?
A financial planner can give advice on how to make sure you can continue to protect and provide for your loved ones, even when you’re gone.
Relationship dynamics and tax implications can make this process complex, but with the right advice you can reach an outcome that satisfies you and your family.
While many people have typically been casual about the estate planning conversation, or avoided it entirely, it has never been more important to get your house in order.
For most people, financial concepts and strategies can be difficult to grasp.
A financial planner has the ability to teach you – and importantly, your children – the basics, thereby setting your entire family up for a strong financial future.
In the event you pass away, your children (or other close family members) will likely need to arrange the transfer of your wealth and understand the impact on each of them personally.
Your financial planner can facilitate this process.
Financial planners are often well connected with other professionals who can help you secure your future, such as accountants, solicitors and mortgage brokers.
The team at Heard Financial is experienced at bringing all of those specialists together to help you develop a strong plan, which factors in everything mentioned in this article.
For a no obligation discussion about your financial planning needs, contact us today.
This information may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information.
Accordingly, you should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product.
Ethical investing has been gaining prominence over the last few decades. Find out what makes it an attractive investment strategy in this post.
The investment technique known as ethical investing prioritises the investor’s moral, religious and social ideals over financial gain. The reason for this is that a growing number of investors have begun to demand social responsibility from the companies they invest in, primarily because of the rise in dubious and unlawful investment arrangements.
Ethical investing entails fair labour practices, the production of healthy and beneficial goods and services, and abstaining from unethical business activities.
Investors who want to utilise their money to support good causes should consider ethical investment. Those who are interested in this type of venture have several options to choose from.
Below is a list of the different types of ethical investments:
ESG investment strategies target shares in businesses that follow good corporate, social and environmental practices. ESG funds take into account the potential effects that environmental, social and governance factors may have on a company’s performance when making investment decisions.
Faith-based funds (aka morally or biblically responsible, or faith-driven funds) only own stocks that uphold certain religious principles and values. This family of mutual funds rigorously avoids investments that do not match that category. They wouldn’t invest in companies involved with alcohol, anti-family entertainment, gambling, tobacco and similar potentially offensive practices.
Impact investing is a term used to describe an investment approach where ethical improvements or positive results for the community and environment take precedence over fund performance or financial returns. Examples of this include investing in non-profits or businesses producing or using clean technology.
Socially responsible investing entails eschewing investments in contentious industries or companies that manufacture or provide addictive substances or activities or whose products or services go against the principles of social justice, sustainability and clean technology. This is why SRI funds steer clear of businesses involved in gambling, guns and ammunition, tobacco, alcohol and oil.
Whether you want to start ethical investing in Australia or elsewhere, it’s important to be aware of its pros and cons, so you know exactly what to expect.
Pros:
Cons:
That being said, the number of investors who want to make a positive impact on the society and environment is expected to continue growing.
If this article has inspired you to think about your own unique situation and, more importantly, what you and your family are going through right now, please contact your advice professional.
(Feedsy Exclusive)
