Salary sacrifice is an arrangement with your employer to forego part of your salary or wages in return for your employer providing benefits of a similar value. One example of a salary sacrifice arrangement is to have some of your salary or wages paid into your super fund instead of to you. If your employer … Read more
If you’d invested $10,000 into the whole Australian share market back in 2002, your initial investment amount would have grown to almost $50,000 by 30 June 2022. It’s a huge gain. Around 385 per cent to be precise. And, to achieve it, all that you would have needed to do is reinvest all the Australian … Read more
You use passwords to access your bank accounts, social media, email and more every day. Passwords are the keys to our online identity. That’s why protecting them is so important. Creating a strong password is the first step to protecting yourself online. This helps reduce the risk of unauthorised access by those willing to put … Read more
When I retire, will I have enough money to enjoy the retirement lifestyle I envision? It’s a question many of us will need to ponder at one point. It’s a question most of us will need to ponder at some stage in our lives. When I retire, will I have enough money built up in … Read more
Be suspicious of anyone offering you easy money. Scammers are skilled at convincing you that the investment is real, the returns are high and the risks are low. There’s always a catch. How investment scams work There are three main types of investment scams: The investment offer is completely fake. The investment exists, but the … Read more
If you think your employer isn’t paying your super contributions, follow the steps below: Am I entitled to super? – you should confirm that you’re entitled to super before taking any further steps. Go to ATO online via myGov to view super contributions that have been paid into your super fund by your employer. If your … Read more
Paying off your mortgage early will save you money and take a financial load off your shoulders. Here are some ways to get rid of your mortgage debt faster. Switch to fortnightly payments If you’re currently paying monthly, consider switching to fortnightly repayments. By paying half the monthly amount every two weeks you’ll make the … Read more
With markets falling and inflation ramping up, investors might feel they need to ‘do something’ to avoid further losses. However, when it comes to investing, taking action in response to market turmoil may derail a sound investment strategy. To say that conditions have changed since the initial 2022 outlook would be an understatement. We welcomed … Read more
Before you say ‘I do’, talk about your finances with your partner. Not getting married, but in a relationship? See relationships and money for useful tips. Manage the wedding whirlwind The average Australian wedding costs $36,000. According to a Moneysmart survey, 82% of couples dipped into their savings to pay for their wedding. Another 60% got a … Read more
How much tax you pay on retirement income depends on your age and the type of income stream. For most people, an income stream from superannuation will be tax-free from age 60. How super income streams are taxed Types of super income streams Income from super can be an: account-based pension — a series of regular … Read more
Knowing how your mind works can help you avoid the more obvious traps many investors fall into. Cognitive bias has become a bit of an investing buzz phrase in recent years. The theory is that the human brain predictably makes errors of judgment that can lead us to be emotional, short term and come to … Read more
Before you decide to purchase your first property there are a number of things to consider, including your current personal circumstances and financial status. 1. Think about why you want to buy a home Do you want to live in it or will it be an investment property? This can help determine the kind of … Read more