our expertise
Below are the KEY AREAS that we advise our clients on to help improve their financial future and well being.
WARNING: Contents and discussions contained on this page are not recommendations or advice to you. The contents are intented to be general in nature and professional financial advice before proceeding is a must and highly recommended as there are risks involved.
WARNING: Contents and discussions contained on this page are not recommendations or advice to you. The contents are intented to be general in nature and professional financial advice before proceeding is a must and highly recommended as there are risks involved.
- Retirement Villages & Aged Care
- Retired
- Centrelink
- Retirement Planning & Mapping
- Moving & Transitioning into Retirement
- Superannuation
- Investing & Managed Investments
- Tax on your Income & Salary - what to do about it
- Tax on the Interest you earn - what to do about it
- Protect Yourself (your BACK UP plan)
- Debt Reduction
- Spending Planner
retirement villages & aged care
As you grow older, you may find that you need more help with day-to-day tasks or health care.
You may be able to arrange to receive the care and services you need, while staying in your own home. However, if you need a higher level of regular care, moving into residential care might enable you to receive the care you need.
There are a number of options to receive care and support services. Some providers offer a ‘private’ service, which means that the fees applicable for the services received are agreed between you and the Aged Care provider.
We assist our clients with Aged Care advice, assess all fees and expenses of Aged Care and how best to fund the costs. We consider aspects like keeping the current home, selling it or even renting it as well as reviewing Centrelink implications. We advise on the best financial set up for Aged Care.
Note each scenario is different and it is important to understand your options before committing to an Aged Care facility.
You may be able to arrange to receive the care and services you need, while staying in your own home. However, if you need a higher level of regular care, moving into residential care might enable you to receive the care you need.
There are a number of options to receive care and support services. Some providers offer a ‘private’ service, which means that the fees applicable for the services received are agreed between you and the Aged Care provider.
We assist our clients with Aged Care advice, assess all fees and expenses of Aged Care and how best to fund the costs. We consider aspects like keeping the current home, selling it or even renting it as well as reviewing Centrelink implications. We advise on the best financial set up for Aged Care.
Note each scenario is different and it is important to understand your options before committing to an Aged Care facility.
retired
If you are retired already it is important to ensure your Super is set up in a Tax Free Super Pension so all the interest earned is tax free and you can also draw a regular tax free income to support your ongoing retirement and living expenses.
Another important subject for retirees is ensuring their retirement savings (investments & super) are not exposed to high risk investment strategies. Most of our retired clients are 'conservative' by nature and prefer to ensure their funds steadily grow over time opposed to chasing high returns with high risk.
We also assist our retired clients to maximise any Centrelink benefits they may be entitled to (Age Pension, Carer Allowance, Concession cards, etc).
Another important subject for retirees is ensuring their retirement savings (investments & super) are not exposed to high risk investment strategies. Most of our retired clients are 'conservative' by nature and prefer to ensure their funds steadily grow over time opposed to chasing high returns with high risk.
We also assist our retired clients to maximise any Centrelink benefits they may be entitled to (Age Pension, Carer Allowance, Concession cards, etc).
centrelink
Centrelink is our Government financial and benefit organisation that provides a range of financial payments and other benefits.
Depending on your personal circumstances you may be eligible for a regular financial payment or some other type of benefit.
Centrelink provides payments for the Retired, Disabled, Carers, Employment Seekers, Families, and a range of other Benefits and Services.
Various Concession cards are also available that provide discounts on a range of Services.
We assist our clients to review and assess their eligibility for Centrelink financial assistance and other benefits.
Depending on your personal circumstances you may be eligible for a regular financial payment or some other type of benefit.
Centrelink provides payments for the Retired, Disabled, Carers, Employment Seekers, Families, and a range of other Benefits and Services.
Various Concession cards are also available that provide discounts on a range of Services.
We assist our clients to review and assess their eligibility for Centrelink financial assistance and other benefits.
retirement planning & mapping
Over our lifetime we will build up our wealth and savings in various forms, it might be through Super, an Investment Property, Shares, Business, other Investments or a combination of them all.
The earlier you start planning for your retirement the greater chance you have to build up your wealth and savings so you can enjoy the years after you finish with work.
In today's dollars, if you need $800 per week in retirement then you need approx. $1 million. If you need $1000 per week in retirement then you need approx. $1.2 million.
(assumes you are age 65 and live to age 90, 5% return pa, drawings indexed by 2.0% pa and ongoing fees 0.90% pa).
We assist our clients to look at the bigger picture they wish to achieve and then help to map out the steps they need to take to achieve their desired objectives.
The earlier you start planning for your retirement the greater chance you have to build up your wealth and savings so you can enjoy the years after you finish with work.
In today's dollars, if you need $800 per week in retirement then you need approx. $1 million. If you need $1000 per week in retirement then you need approx. $1.2 million.
(assumes you are age 65 and live to age 90, 5% return pa, drawings indexed by 2.0% pa and ongoing fees 0.90% pa).
We assist our clients to look at the bigger picture they wish to achieve and then help to map out the steps they need to take to achieve their desired objectives.
moving & transitioning into retirement
Once you reach your Super ‘preservation age’ you can start a ‘Transition to Retirement’ strategy (TTR) where you partially drawdown on your Super savings.
This strategy is best for those at least age 60 and still working (you can set it up before age 60 once reaching preservation age however it will depend on your exact salary or income to determine if it is beneficial for you to do so).
A TTR is beneficial as you can reduce your work hours (assuming your work allows you to) and top up your take home income with drawings from your Super.
Alternatively, you can stay at work normally and start reducing the tax on your salary or income by setting up a Pre-Tax Super Savings plan. When you set up a Pre-Tax Savings plan you reduce your tax rate on every $1 you invest from 34.5%, 39% or 47% down to 15%.
To replace your Pre-Tax Savings you may draw out funds from your Super. The overall benefit is a reduction in your tax rate and you build up your Super quicker.
For example, if you earn an income between $45000 - $120000 per year your tax rate is 34.5%, if you decide to set up a TTR you can reduce some the tax you pay on your income from 34.5% to 15% - that is a guaranteed savings of 19.5% automatically (where can you earn a 19.5% guaranteed return?)
We can assist to assess whether you will benefit from a TTR strategy.
This strategy is best for those at least age 60 and still working (you can set it up before age 60 once reaching preservation age however it will depend on your exact salary or income to determine if it is beneficial for you to do so).
A TTR is beneficial as you can reduce your work hours (assuming your work allows you to) and top up your take home income with drawings from your Super.
Alternatively, you can stay at work normally and start reducing the tax on your salary or income by setting up a Pre-Tax Super Savings plan. When you set up a Pre-Tax Savings plan you reduce your tax rate on every $1 you invest from 34.5%, 39% or 47% down to 15%.
To replace your Pre-Tax Savings you may draw out funds from your Super. The overall benefit is a reduction in your tax rate and you build up your Super quicker.
For example, if you earn an income between $45000 - $120000 per year your tax rate is 34.5%, if you decide to set up a TTR you can reduce some the tax you pay on your income from 34.5% to 15% - that is a guaranteed savings of 19.5% automatically (where can you earn a 19.5% guaranteed return?)
We can assist to assess whether you will benefit from a TTR strategy.
superannuation
Superannuation is compulsory in Australia, that means your employer has to contribute part of salary package into a Super fund of your choice. If you are self-employed you are also required to contribute into Super.
There are many Super funds available (1000's in fact) so it is important that you select a suitable fund that meets your needs. How do you do this you may ask, it essentially comes down to two important aspects - ongoing product fees you are charged and investment opportunity. All Super funds charge fees and all have various investment options to select from to invest your money.
Most of us select a Super fund that is recommended by our employer, or we may know someone who has a Super fund, or some of us select a Super fund based on past performance.
Super has many advantages including investment earnings / interest being taxed up to 15% while in accumulation phase and taxed at 0% when you start drawing an income from it in retirement.
You are able to invest additional funds into Super and reduce the tax on your income at the same time. You can invest money into Super before you pay tax or on an after tax basis.
*IMPORTANT - note your existing Super fund will never contact you to let you know they are not managing your money right and you are best to consider an alternative Super fund. What Super fund would communicate to it's members to inform them the ongoing fees they charge are high in comparison to other Super funds, or we are not the best at managing and investing your money. No way a Super fund is going to contact you to inform you to seek out an alternative better Super fund for your money.
Another important note relates to Industry Super funds, while many are creditable funds, their claim to be the lowest ongoing fee products / better performers is quite misleading. They advertise themselves as having low ongoing fees - by reading their Product Disclosure Statements (legal document) and comparing to other Super funds you will find out the facts.
Super is a GREAT vehicle to save for retirement as it is a lower taxed environment compared to building up wealth / investing outside of Super in your own name. Super does not need to be your main vehicle to save for retirement, you can use it in conjunction with your other investments to build up your wealth.
We assist our clients to assess if their current Super fund is best suited to their needs and objectives. We have access to research tools that compares most Super funds in Australia.
There are many Super funds available (1000's in fact) so it is important that you select a suitable fund that meets your needs. How do you do this you may ask, it essentially comes down to two important aspects - ongoing product fees you are charged and investment opportunity. All Super funds charge fees and all have various investment options to select from to invest your money.
Most of us select a Super fund that is recommended by our employer, or we may know someone who has a Super fund, or some of us select a Super fund based on past performance.
Super has many advantages including investment earnings / interest being taxed up to 15% while in accumulation phase and taxed at 0% when you start drawing an income from it in retirement.
You are able to invest additional funds into Super and reduce the tax on your income at the same time. You can invest money into Super before you pay tax or on an after tax basis.
*IMPORTANT - note your existing Super fund will never contact you to let you know they are not managing your money right and you are best to consider an alternative Super fund. What Super fund would communicate to it's members to inform them the ongoing fees they charge are high in comparison to other Super funds, or we are not the best at managing and investing your money. No way a Super fund is going to contact you to inform you to seek out an alternative better Super fund for your money.
Another important note relates to Industry Super funds, while many are creditable funds, their claim to be the lowest ongoing fee products / better performers is quite misleading. They advertise themselves as having low ongoing fees - by reading their Product Disclosure Statements (legal document) and comparing to other Super funds you will find out the facts.
Super is a GREAT vehicle to save for retirement as it is a lower taxed environment compared to building up wealth / investing outside of Super in your own name. Super does not need to be your main vehicle to save for retirement, you can use it in conjunction with your other investments to build up your wealth.
We assist our clients to assess if their current Super fund is best suited to their needs and objectives. We have access to research tools that compares most Super funds in Australia.
investing & managed investments
If you do not the have time and expertise or you have the expertise however do not have the time then you may consider investing your money into a Managed Investment to build your wealth.
Investing in a Managed Investment increases your buying power and opens up investment opportunities you may not be able to access directly yourself with your funds alone. Your money is pooled with other investors and the Investment Manager will make all the key buy and sell decisions on your behalf.
While the Investment Manager has the research insights and facilities, you actually decide how you want your money invested, where you want to invest and what amount of investment risk you are comfortable with.
For example, you can decide how much is to be invested in growth assets like shares, property (high risk / high return assets) and how much in defensive assets like cash and fixed interest (low risk / low return assets).
There are 1000s of Managed Investments and investment options available in Australia and Overseas to invest in - how do you select the best Investment Manager? Without access to detailed research it is often difficult to sort through the many opportunities. PLEASE DO NOT make a selection using past performance of the Investment Manager alone as it is very risky to do so.
We complete all the detailed due diligence, research and comparison analysis for our clients, and then provide a recommendation on the best suited Investment Manager(s) and investment options that matches what our clients are wishing to achieve.
Investing in a Managed Investment increases your buying power and opens up investment opportunities you may not be able to access directly yourself with your funds alone. Your money is pooled with other investors and the Investment Manager will make all the key buy and sell decisions on your behalf.
While the Investment Manager has the research insights and facilities, you actually decide how you want your money invested, where you want to invest and what amount of investment risk you are comfortable with.
For example, you can decide how much is to be invested in growth assets like shares, property (high risk / high return assets) and how much in defensive assets like cash and fixed interest (low risk / low return assets).
There are 1000s of Managed Investments and investment options available in Australia and Overseas to invest in - how do you select the best Investment Manager? Without access to detailed research it is often difficult to sort through the many opportunities. PLEASE DO NOT make a selection using past performance of the Investment Manager alone as it is very risky to do so.
We complete all the detailed due diligence, research and comparison analysis for our clients, and then provide a recommendation on the best suited Investment Manager(s) and investment options that matches what our clients are wishing to achieve.
tax on your salary & income
Our Australian tax system is designed to tax you more as you earn more. To increase your wealth you must reduce your tax.
Tax rates on your salary and income are, $0-$18,200.. your tax rate is 0%$18,200-$45,000.. your tax rate is 21%*$45,000-$120,000.. your tax rate is 34.5%*$120,000-$180,000.. your tax rate is 39%*$180,000 plus.. your tax rate is 47%*
E.G if you earn $75,000 the first $18,200 is taxed at 0%, the next $26,800 taxed at 21% and $30,000 is taxed at 34.5%.
Reduce your tax rate to 15% on part of your salary and income.
* includes medicare levy 2.0%
When assessing our client's needs we look for opportunities to create / build their wealth tax effectively as any tax savings means our clients keep more of their money in their pocket for their future.
Tax rates on your salary and income are, $0-$18,200.. your tax rate is 0%$18,200-$45,000.. your tax rate is 21%*$45,000-$120,000.. your tax rate is 34.5%*$120,000-$180,000.. your tax rate is 39%*$180,000 plus.. your tax rate is 47%*
E.G if you earn $75,000 the first $18,200 is taxed at 0%, the next $26,800 taxed at 21% and $30,000 is taxed at 34.5%.
Reduce your tax rate to 15% on part of your salary and income.
* includes medicare levy 2.0%
When assessing our client's needs we look for opportunities to create / build their wealth tax effectively as any tax savings means our clients keep more of their money in their pocket for their future.
tax on the interest you earn
The interest that you earn from your investments, savings, and term deposits is taxed at your salary and income tax rates.
E.G if you earn $50,000 and you earn $1 interest then 34.5% tax is deducted from your interest.
Depending on your circumstances, goals and objectives you may be eligible to reduce this tax rate to 15% or 0%.
When assessing our client's needs we look for opportunities to create / build their wealth tax effectively as any tax savings means our clients keep more of their money in their pocket for their future.
E.G if you earn $50,000 and you earn $1 interest then 34.5% tax is deducted from your interest.
Depending on your circumstances, goals and objectives you may be eligible to reduce this tax rate to 15% or 0%.
When assessing our client's needs we look for opportunities to create / build their wealth tax effectively as any tax savings means our clients keep more of their money in their pocket for their future.
protect yourself (the 'back up' plan)
The common belief “it won’t happen to me” often results in many people having a sound plan for wealth creation but not an adequate plan to protect the very thing that generates their wealth – themselves.
Life, Disability, Trauma, and Income Protection are the main insurances we help our clients review and organise.
The number one question is how much does insurance cover cost? There is an answer however a process needs to be followed to be able to provide the cost. Starting with a detailed analysis of your needs, then we compare the cover you need with multiple insurers for the best suited cover based on your unique cirumstances and budget. If the insurance cover is too expensive for you then you simply make adjustments until it fits into your budget.
Insurance provides financial protection for you (and families). Insurance can be structured to provide for such things as the repayment of debts upon death or disability, financial assistance for dependants and protection against the loss of income.
Not all of the insurance premiums you pay have to be paid from your pocket, you can structure your insurance cover where you recieve a tax deduction on some of the premiums, and you may also have your Super fund pay part of your premiums as well.
In our experience when it comes to insurance cover it is very dangerous if you base your insurance purchase soley on cost, cost is very important however make sure you understand the terms and conditions of cheap insurance - if not you will only find out when you make a claim and the outcome may not be in your favour.
Our expertise assess our client's insurance cover needs, provides education on the various options available and ensures any insurance cover purchased fits into our client's budget.
Life, Disability, Trauma, and Income Protection are the main insurances we help our clients review and organise.
The number one question is how much does insurance cover cost? There is an answer however a process needs to be followed to be able to provide the cost. Starting with a detailed analysis of your needs, then we compare the cover you need with multiple insurers for the best suited cover based on your unique cirumstances and budget. If the insurance cover is too expensive for you then you simply make adjustments until it fits into your budget.
Insurance provides financial protection for you (and families). Insurance can be structured to provide for such things as the repayment of debts upon death or disability, financial assistance for dependants and protection against the loss of income.
Not all of the insurance premiums you pay have to be paid from your pocket, you can structure your insurance cover where you recieve a tax deduction on some of the premiums, and you may also have your Super fund pay part of your premiums as well.
In our experience when it comes to insurance cover it is very dangerous if you base your insurance purchase soley on cost, cost is very important however make sure you understand the terms and conditions of cheap insurance - if not you will only find out when you make a claim and the outcome may not be in your favour.
Our expertise assess our client's insurance cover needs, provides education on the various options available and ensures any insurance cover purchased fits into our client's budget.
debt reduction
The cost of debt includes the interest you pay over the life of the loan and loan fees.
Reducing these costs can provide you with significant savings which can help you reduce your debts quicker and increase your capacity to have fun and/or save for your future.
Strategies that can help to reduce the overall cost of debt include making additional repayments, consolidating your debts, repaying debts with higher interest rates first and repaying non-tax deductible debt (bad debt) before repaying tax deductible debt (good debt).
The benefits of a debt reduction strategy include more money for fun, increase your wealth and savings and reduce the financial burden and stress.
Be smart with debt as lenders are not in the business of helping you to reduce the debt they have loaned to you - they want you to pay them interest.
While we are not licenseed to or are able to provide you with lending products, we are able to review your current debt structures to provide you with a repayment map and cost analysis.
Reducing these costs can provide you with significant savings which can help you reduce your debts quicker and increase your capacity to have fun and/or save for your future.
Strategies that can help to reduce the overall cost of debt include making additional repayments, consolidating your debts, repaying debts with higher interest rates first and repaying non-tax deductible debt (bad debt) before repaying tax deductible debt (good debt).
The benefits of a debt reduction strategy include more money for fun, increase your wealth and savings and reduce the financial burden and stress.
Be smart with debt as lenders are not in the business of helping you to reduce the debt they have loaned to you - they want you to pay them interest.
While we are not licenseed to or are able to provide you with lending products, we are able to review your current debt structures to provide you with a repayment map and cost analysis.
spending planner / budgeting
A budget ... we hear you ... no not a budget. Think of a budget as a Spending Planner tool to help you see how and where you spend your money.
A spending plan can help improve your FUN (a holiday), buy something that you have always wanted, give something to a family member or a friend, and it can help build and create your wealth for your future.
We have some tools to look into our clients spending and can assist to plan ahead.
A spending plan can help improve your FUN (a holiday), buy something that you have always wanted, give something to a family member or a friend, and it can help build and create your wealth for your future.
We have some tools to look into our clients spending and can assist to plan ahead.