Entries by Gary Weigh

The Best Kept Secrets of Aged Care

In the confusion of new rules for aged care home residents, one of the best kept secrets is that there are ways that new means tested residents can increase the amount of age pension received, and decrease the amounts paid for aged care and accommodation in aged care facilities. New means testing rules which started […]

What SMSF promoters don’t tell you!

It’s sad when I see a Self-Managed Super Fund (SMSF) set up because someone else other than the customer thought it was a good idea, and the advice given causes problems for the trustee-members involved.  Inevitable, the people I see with SMSF problems are those either at or near retirement; and they are usually worried. […]

Facing Retirement

Retirement can be an emotional as well as a financial challenge. This I know from personal experience.  Before I actually had to face retirement myself, I used to think of my retirement and other people’s retirement in financial terms only. That is, basically if I could guide them to accumulate enough money before retirement and […]

SMSF Review – Individual Trustees a Disaster Waiting

The majority of SMSF in Australia are estate planning disasters waiting to happen. Why?  Because the majority of people have avoided the expense of using a corporate SMSF trustee, and have chosen the cheaper option of setting up their SMSF with ‘individual trustees’. As you are probably aware, a SMSF can have up to four […]

SMSF Review – No Estate Plan?

Most clients I see for a SMSF review have not done much about Estate Planning. Estate planning means making a plan for the distribution of everything you own and control when you die. While most people I meet have been meaning to get around to it, they haven’t taken action.  I understand why because it is […]

Direct Insurance more expensive says CANSTAR

Finally independent research is here to explode the consumer myth that direct insurance purchased online or over the phone is cheaper than adviser-recommended insurance.  That is not the case.  In fact, direct insurance is significantly more expensive. Read the Canstar article courtesy of The Sydney Morning Herald at http://www.smh.com.au/money/planning/online-insurance-doesnt-come-cheap-20140829-103y95.html You probably wonder why this is […]

The SMSF Mechanic

About 12 months ago I received a phone call from a distraught man whose superannuation was controlled totally by his adviser.   He was referred to me by an existing client on the basis that if I couldn’t help him directly, I would know someone who could.   He had so little information and so few […]