Assess Your Personal Finance Needs

Start your self-assessment by ticking the boxes:

Your Age Range
- 65 or over
- 60-64
- 55-59
- Under 55
Age 65 or over:
“I see that you are well into your retirement years. A retirement income stream, estate planning and aged care are often priorities at this time.”
Age 60-64
“I see that you are at the age where Transition to Retirement could be valuable to you.”
Age 55-59:
“I see that you are at or near the age of first access to your super. Maybe it’s time to start thinking about the new phase of your life called retirement.”
Under 55:
“I see that you are under age 55. You have time on your side to invest for your goals and save for retirement, but only if you take advantage of it with a well thought out plan for the future.
Do you have an employment or business income?
- Yes
- No
- Undecided/Tell Me More
Employment or Business Income:
Your income, however you earn it, is your foundation source of wealth. Without it, you have little chance of getting ahead. On the other hand, the more income you have the greater are your opportunities to grow wealth. Most people focus on their spending when considering their household finances. It is common to reduce spending, reduce utility usage or to take advantage of early payment discounts. If all else fails, it is a bad financial habit to put it on a credit card, and it not recommended. So why not look at the other side of the equation? That is, the income side. Unless you are retired or disabled, income is not a limited resource. Increasing income takes a lot of pressure off the spending side of the equation. Make an appointment and let’s talk it through. Call me.
“Income is essential for everyone; it’s your source of money to live, to save and to invest for the future.”
Do you have any sources of passive income?
- Yes
- No
- Undecided/Tell Me More
Sources of Passive Income:
Understand the difference between personal exertion income and passive income. The income you don’t have to go to work to earn is passive income. It is income that it still generating while you sleep. Common examples are rental income, share dividends and managed fund distributions. Other examples are royalties and pay-per-click. It is passive income that will see you through tough times where you might be sick, disabled or between jobs. Passive income is another form of financial safety net (see also emergency cash buffer and risk insurance protection) and also the income that you ultimately retire on. For a conversation about your particular passive income needs, Call me
“Consider passive income as it helps remove the limits from your earning capacity”
Do you have superannuation in addition to what your work provides?
- Yes
- No
- Undecided/Tell Me More
Superannuation:
Superannuation is Australia’s retirement savings system. Superannuation is not a product. There are many products that fulfil the requirements of superannuation. Rather than being any particular product, superannuation is a complex set of rules that puts limits on what you can and can’t do with your retirement savings. If set up properly and used effectively superannuation is by far the most tax effective way of saving for retirement. To do that you will need advice. Call me.
“Your superannuation can amount to a lot of money so it is worth caring for.”
Do you have a personal super fund or a Self-Managed Super Fund?
- Yes
- No
- Undecided/Tell Me More
Personal Superannuation:
Personal superannuation is a retail superannuation fund that is set up to meet your needs. To have a personal super fund means that you are taking control and not leaving the decisions to your employer. With the help of an adviser, your personal super fund will have the investments that suit your attitude to risk and the appropriate amount of insurance to meet your needs. Unlike most employer funds, it is portable, which means that you can take it to any employer and ask for your employer super contributions to be paid into it. If you want personal super tailored to your needs, you must seek advice. Call me
“Consider taking control of your super and making it work for you”
Do you have life cover other than the cover found in your work super?
- Yes
- No
- Undecided/Tell Me More
Life cover:
Of all the personal risk insurances, life insurance is generally the cheapest and the easiest to obtain. Every person should enough to cover their debts and provide for their family. Insurance is another form of financial safety net; a basic family protection if disaster strikes you, the breadwinner. If you think about your own circumstances, you will probably conclude that the amount of life cover you have in your work super to make your family’s life easier in the event of your death, is simply not enough. To arrive at a sum insured, just take a few moments to think the position you would like to leave your family in if something happened to you. Would you like your home mortgage paid off? Would you need extra child care? Would you like enough money to educate your children? Would you like enough money for your spouse to invest to produce at least a part time income? The decisions are yours and the assistance you need is right here. Call me
“You may be underinsured and most people under retirement age can get life insurance without much fuss. It is worth asking for a review.”
Do you have an updated Will?
- Yes
- No
- Undecided/Tell Me More
Updated Will:
Most Australians don’t have a Will but you do a great disservice to your family if you don’t have one. It is the basic tool we use to transfer money and assets in our own name to the people of our choice. If you don’t leave written instructions by making a Will, the State Government will choose for you according to a fixed formula. If the Government’s Public Trustee can’t find immediate family or defined extended family members, the Government will keep your money. Do you still not care? Make an appointment to talk about your estate planning because there are a few other things to consider depending on your family circumstances. Call me
“It is essential that you update or existing Will or arrange for a new Will. Ask for an Estate Planning review to find out what other essentials you need.”
Do you have income protection? (other than over-the-phone or in super)
- Yes
- No
- Undecided/Tell Me More
Income Protection:
Income protection is personal risk insurance that protects 75% your work income. Most people can’t go a month without income and are totally reliant a regular pay cheque to buy food, pay the mortgage, pay bills and put aside savings. This is one financial product you should never buy direct or over the phone. The reason is that there are many products on the market and they are not all the same. Different products are suitable for different occupations and there are many traps for beginners, such as exclusions, payment offsets, and many definitions of disability. You definitely need advice and guidance here so please Make an appointment and receive expert advice.
“If you can’t do without your regular weekly / monthly pay packet, you really should protect your income. Ask for an insurance review with personal advice tailored to your specific needs.”
Have you nominated a beneficiary to receive your super if you die?
- Yes
- No
- Undecided/Tell Me More
Nominated Beneficiary:
This is about nominating someone to receive your superannuation and any related life insurance in the event of your death. This is another essential part of your estate planning. The problem with nominating one or more beneficiaries from super is that under superannuation law, the list of people who are entitled to receive your superannuation is restricted to certain immediate family members. This can be a real problem for single people because it is not possible to nominate Mum, Dad, brother or sister unless there is a financial dependency relationship. There is a solution but it’s best to seek advice. Call me
“Nominating a beneficiary for your super is important, and there is more you should consider. Ask for an Estate Planning review.”
Have you arranged an Enduring Power of Attorney?
- Yes
- No
- Undecided/Tell Me More
Enduring Power of Attorney:
An Enduring Power of Attorney (EPOA) is an important legal document that gives someone else the power to make personal or financial decisions on your behalf, should you temporarily or permanently lose the cognitive capacity to do so. The reason for having an EPOA is that you may not always be able to make decisions when you need to. You may be too ill to make choices about your medical treatment, or you could suffer a disability such as a stroke that prevents you from communicating your wishes to others. Your Attorney should be someone you trust to make everyday decisions or important personal or financial in your best interest and to sign on your behalf if you are not able to do so. You can revoke the enduring power of attorney at any time and / or appoint a new Attorney so long as you have the mental capacity to do so. An existing Attorney can be suspended if he or she behaves improperly. You should seek legal advice from your solicitor or a suitably qualified legal professional. Call me for a referral.
“If you are hospitalised, disabled, in a coma, or temporarily without mental capacity, an Enduring Power of Attorney is a must so that someone you trust can make decisions for you. Include it as part of your Estate Planning and Protection review.”
Is your home loan interest rate higher than the current market rate?
- Yes
- No
- Undecided/Tell Me More
Home Loan Interest Rate:
You shouldn’t pay more than you need to on your home loan. During the GFC a few years ago, interest rates rose, but many lenders were reluctant to reduce their rates all the way down with the fall of the official cash rate. Therefore, refinancing might be an option to consider depending on your circumstances. If you think you are paying too much interest ask for a review. Call me and I will put you in touch with a mortgage adviser who can review your situation.
“If you own your own home, you might benefit from a review of your home loan. Call us to arrange it.”
Are you trying or struggling to pay off personal debt?
- Yes
- No
- Undecided/Tell Me More
Personal Debt:
Personal debt is something that should be limited. Borrowing to purchase personal items, consumables or lifestyle assets (e.g. a car, boat or caravan) is about instant gratification – i.e. wanting it now before you can afford it. Not only is the interest rate high, the interest is not tax deductible because the asset purchased is for personal use. Also, personal assets produce no income and typically decrease in value over a relatively short period of time. This is so much different to borrowing to invest in quality assets that are expected to rise in value over time, produce an income, and where interest is tax deductible. Personal debt can destroy personal finances so make an appointment to have a chat about your circumstances and let us help you get on the right track.
“If you can’t get ahead because of personal debt, ask for a review.”
Do you own an investment property?
- Yes
- No
- Undecided/Tell Me More
Investment Property
It is a myth that all real property is a guaranteed gold mine that will always rise in value. Caution should be exercised because property is a high risk investment, and the risk multiplies if borrowing to invest. Personal attitude to risk is something that most inexperienced investors don’t think about. What will suit one person as an appropriate investment may not suit another person. The true test is what allows you to sleep soundly and what keeps you awake at night. It is wise to make an appointment before committing to any investment, to allow us to help you understand your personal risk profile. The search for a suitable property requires research, patience and a dispassionate approach. Even though the concept of property investment may feel familiar because it is culturally widely accepted in Australia, the associated risks are significant. The level of returns and outgoings, including the mortgage, must fit well within your financial capability, and the risks and consequences of things going wrong must be identified and addressed. So unless you are good at financially evaluating an investment project, you should make an appointment for a financial review to ensure that the investment has every chance of working for you over the long term.
“Whether you own an investment property or not is a matter of choice. It’s a big commitment and borrowing can add to the risk. Ask for a savings and diversified investment review that takes into account your personal circumstances and the level of risk you’re comfortable with.”
Do you have Trauma insurance?
- Yes
- No
- Undecided/Tell Me More
Trauma Insurance
Trauma insurance is the least known and most claimed upon of all the personal risk insurances. This type of policy pays an agreed lump sum upon diagnosis of a serious medical condition, such as heart attack, cancer stroke. Even though most policies cover over 30 serious health conditions, most claims are for breast cancer, prostate cancer, heart attack, heart disease and stroke. To qualify for a Trauma claim payment, the severity of the condition must meet the medical criteria defined in the policy. Whether you can still go to work or not is irrelevant to this policy. The purpose of Trauma insurance is to pay for medical expenses, rehabilitation expenses and living expenses when seriously ill, but the claim proceeds can be used for any purpose. Trauma insurance should be seriously considered by every Australian adult of insurable age. It is another financial safety net for when serious health misfortune strikes but the condition doesn’t result in your immediate death. This cover is just as important, if not more important than life insurance because you are alive, seriously ill and possibly long term disabled. That means ongoing medical care and rehabilitation costs. Call me or make an appointment to see how this safety net applies to you.
“Trauma Insurance is the safety net you need to recover ‘financial stress-free’ from a heart attack, stroke, cancer or a wide range of other life-threatening conditions. The payout could save you having to sell your home or borrow money to live while paying life-saving medical and rehabilitation costs.”
Do you own a portfolio of shares or securities?
- Yes
- No
- Undecided/Tell Me More
Portfolio of Shares or Securities:
Unless you are very familiar and comfortable with shares and other securities, you should exercise great caution. Speculation should be avoided at all costs. That is not investment. For the inexperienced investor, shares should be purchased with advice and as part of a diversified investment portfolio. Many people overlook the fact that shares are a high risk growth investment. The risk multiplies if borrowing money to invest. Personal attitude to risk is something that most inexperienced investors don’t think about. What will suit one person as an appropriate investment may not suit another person. The true test is what allows you to sleep soundly and what keeps you awake at night. It is wise to make an appointment before committing to any investment, to allow us to help you understand your personal risk profile. We can then refer you to a qualified and experienced share broker to assist you with a portfolio recommendation.
“Shares and securities carry risky and not for everyone, so you may benefit from an investment review that takes into account the level of risk you actually feel comfortable with.”
Have you set specific savings goals? (i.e. how much, for what, by when)
- Yes
- No
- Undecided/Tell Me More
Specific Savings Goals:
Unfortunately, the financial goal of about half of the Australian adult population is simply to make ends meet. Unfortunately, achieving this goal removes all possibility of saving and wealth building. In a world of credit cards and personal loans, it is the high level of personal debt repayment that commonly erodes the ability to save. Hence, setting specific savings goals often requires a change in one very common bad financial habit. That is the habit of ‘I want it now, so I’ll use a credit card’. To get ahead, your mindset needs to change from serial borrower to regular saver and prudent investor. Make an appointment and we can discuss your savings foals and how to achieve them.
“It good to have personal goals because it means you aspire to something more than mere survival. As soon as you have a goal, you have a direction.”
Do you have an emergency cash buffer (not a credit card)?
- Yes
- No
- Undecided/Tell Me More
Emergency Cash Buffer:
One of the savings goals that should be considered as a priority is a cash buffer for those emergency purchases. This provides the ability to (for example) repair the car if it breaks down or buy a new refrigerator. A few thousand dollars will go a long way to coping with an emergency without having to resort to a credit card or personal loan. Saving up the emergency cash reserve is a great way to start relieving financial stress. Make an appointment to see me. Taking that first step in creating a new saving habit can put you on the track to a life of personal financial independence.
“An emergency cash buffer gives you breathing space if something day-to-day goes wrong e.g. you need a new fridge or TV. It also avoids those lean times in between paydays.”
Do you have disability insurance in case you can never work again?
- Yes
- No
- Undecided/Tell Me More
Long Term Disability Insurance:
People regularly become long term disabled through serious illness or accident. Whilst this misfortune doesn't happen to the majority of the population, it is financially devastating to those afflicted because ‘total and permanent disability’ generally means never working again. Government welfare for the rest of your life is not a desirable thought. Total & permanent Disability (TPD) insurance, often taken in conjunction with life insurance, provides a lump sum to finance everyday living with a serious disability and no ability to earn income. TPD insurance is another financial safety net for when serious health misfortune strikes but the condition doesn’t result in your death. This cover is just as important, if not more important than life insurance because you are alive with a serious long term disability. That means ongoing medical care and rehabilitation costs. Call me or make an appointment to see how this safety net applies to you.
“Total & Permanent Disability insurance fills the financial gap through to retirement and beyond if you can never work again due to a health misfortune. Ask for an insurance protection review.”
Do you know which type of investments suit your attitude to risk?
- Yes
- No
- Undecided/Tell Me More
Type of Investments to Suit your Attitude to Risk:
When people invest, one of the most common mistakes they make is following the advice or example of friends and family. Investing is not about doing what others do. It is about investing in a way that is appropriate for you. Before you start investing, it pays to understand your own risk profile. Think about what type of investments would keep you awake at night and those that allow you to sleep soundly. That means ongoing medical care and rehabilitation costs. Call me or make an appointment and we can help you understand whether you are a conservative investor or a more adventurous growth investor or somewhere in between.
“When it comes to investing, don’t lose sleep. If you are concerned about your investments, or just thinking about the possibilities, ask for an investment review.”
Have you cut up your credit card and replaced it with a debit card?
- Yes
- No
- Undecided/Tell Me More
Debit Card vs Credit Card:
Using a debit card means that you are spending money you have already saved, whereas using a credit card means that you are borrowing money at very high interest rate to make a purchase. Using a credit card promotes and reinforces a borrowing mentality whereas a debit card reinforces a savings mentality. While you may think that you can manage a credit card and always pay it down to zero each month, it doesn’t take much for things to go wrong (e.g. emergency purchase or unable to work) and you suddenly find yourself struggling with rising personal debt at very high interest. Credit cards can destroy personal finances so make an appointment to have a chat about your circumstances and let us help you get on the right track.
“Even though the banks make it exceedingly easy to borrow from them by means of a credit card, most people are better off spending their own money and avoiding debt by using a debit card.”
Have you started a tax effective savings plan for your children?
- Yes
- No
- Undecided/Tell Me More
Tax Effective Savings Plan:
The Investment Growth Bond is a generic product worthy of mention. While I don’t generally talk much about financial products, there are some features that are not widely known and worth mention. Firstly, I must stress that it is an investment product and as such carries risk. For that reason alone, you should seek advice. Secondly, it can be tax effective for investors and you should seek advice to find out how. In general terms, tax paid by the provider at the company rate, so there can be tax savings for higher income earners and tax credits for lower income earners. It also has an ownership vesting feature which means that a parent can hold the bond on behalf of a child and, when the child reaches an age between 16-25 years ownership can vest to the child with no additional tax consequences. This type of product is sometimes referred to as an Insurance Bond. Although it contains no insurance, it has the same ‘nomination of beneficiary’ feature as a life policy. This means that on death, the money can pass to a beneficiary without additional tax consequences. Although this type of product shouldn’t be sought without advice, it can be used for long term saving, child education or simply to give your child or grandchild a good head start in adulthood. Call me or make an appointment to see how this product might fit into your personal finance strategy.
“If you want to put money away for your children tax-effectively or if you want to supplement your retirement savings outside superannuation, then ask for a review.”
Have you consolidated the trail of super you’ve left at each employer?
- Yes
- No
- Undecided/Tell Me More
Consolidating your Trail of Super:
There are many good reasons to gather up your super from previous employers, including lost super, and putting it into one fund. Taking control of your money, ease of management and working with one modest fee structure should be reasons enough to consolidate your super. However, a critical reason overlooked by most people is to preserve your earliest superannuation service date. That is, the date that you first entered the superannuation system. It is important to keep rolling superannuation forward as you change employers to preserve this starting date. Simply put, the earlier your service date, and the longer your total service period, the less tax you will pay on a withdrawal under the age of 60. So by ignoring the trail of super you have left behind with previous employers, you are costing yourself money, not to mention the opportunity cost of not taking control of your super and not taking an active interest in saving for your retirement. Make an appointment to find out how to improve your super.
“There are some compelling reasons why you should consolidate your super into one account. Administration fees are important but not breaking the time-line continuity of your super is even more important. Ask for a superannuation review.”
Do you operate a weekly / monthly household budget?
- Yes
- No
- Undecided/Tell Me More
Household Budget:
Did you know that your credit card debt is the difference between your household spending and your affordability to spend? Do you or anyone you know deliberately sit down at their kitchen table and budget to achieve a growing credit card debt? No one does, but I know plenty of people who have used a household budget to get out of a serious financial hole. A household budget is a critical tool used in reversing the bad habit of credit card spending into the good habit of regular saving and prudent investing. Many people tell me that they don’t need to budget because they know what they spend each week. And so they might, but this mindset is a trap! The purpose of a budget is much more than that. Firstly, it is used to create a starting point, being your current situation. Secondly, it can then be used to explore ‘what-if’ scenarios, which go hand-in-hand with doing things differently to form new money habits; and thirdly, it can be used to track your weekly progress towards your new goals. Call me to make an appointment if you want to turn your financial life around.
“A household budget shines a bright light on your money habits. It reflects your savings goals, spending leakages, and your resolve to change bad habits. If you are looking for guidance in how to increase savings, ask for a review."
Do you have an Advance Health Directive in place?
- Yes
- No
- Undecided/Tell Me More
Advance Health Directive:
An advance health directive is a formal way of giving instructions for your future health care via a set of written instructions. It comes into effect only if you are unable to make your own decisions. The best time to make an advance health directive is now, before any urgent health condition arises. However, it is particularly important to make one if you are about to be admitted to hospital or your medical condition is likely to affect your ability to make decisions. In Queensland, you don’t need to lodge your completed form with any authorities. Keep the original document in a safe place and give a copy to your doctor, a family member or friend, and your attorney (i.e. who holds your enduring power of attorney) for personal matters if you have one. You might also want to carry a card stating that you have made an Advance Health Directive and where it can be found. In Queensland, use the form at the Department of Justice & Attorney-General website. Call me if you would like more information and make an appointment to find out what else you should be doing to safeguard yourself.
“We all know how fragile life can be. An Advance Health Directive is your written instruction outlining your medical-related wishes at a time where you are unable to speak for yourself. Include it as part of your Estate Planning and Protection review.”
Do you know how to leave money to a child with an addiction?
- Yes
- No
- Undecided/Tell Me More
Leaving Money to a Child with an Addiction: Bequeathing money and assets to a child with a drug or gambling addiction can quickly turn into a nightmare of financial squander. Leaving a bequest of money and property to an addicted child via a simple Will means that your lifetime of hard work will be delivered directly into their hands and very likely wasted in a short period of time. There is a ‘trust’ solution to this problem but it requires personal advice from a specialist legal practitioner because the structure and the appointment of trustees very much depend on your family circumstances. Call me for a referral to a qualified and experienced legal practitioner. Make an appointment to sit down with me to discuss all of your estate planning needs.
“An adult child with a drug or gambling addiction is one of many reasons why your hard earned wealth can be squandered when it passes to the next generation. To protect your bequest, ask for an Estate Planning review.”
Do you know how to leave money to a child at risk of divorce?
- Yes
- No
- Undecided/Tell Me More
Leaving Money to a Child at Risk of Divorce:
Bequeathing money and assets to a child at risk of divorce via a simple Will means that your lifetime of hard work could be counted in the matrimonial assets and be lost in a property settlement to a departing son-in-law or daughter-in-law. Many parents just aren’t prepared to take the risk and want a much more protected solution as part of their estate planning. The solution requires personal advice from a specialist legal practitioner because again the structure and the appointment of trustees very much depend on your family circumstances. Call me for a referral to a qualified and experienced legal practitioner. Make an appointment to sit down with me to discuss all of your estate planning needs.
“An adult child with a rocky marriage is a common reason why many people seek to protect their hard-earned money and property from being unexpectedly lost as ‘matrimonial assets’. To protect your bequest, ask for an Estate Planning review.”
Do you have a plan to insure or mitigate the risks in your business?
- Yes
- No
- Undecided/Tell Me More
Insure or Mitigate the Risks in your Business:
Your business is an investment like any other. You work hard at it to produce an income and hopefully, it rises in value over time. Ultimately, the success of your business relies on you and those you employ. The loss of key people, including you, can represent a big risk to your business. You only have to consider what it would cost you to be without you, and them. Although there are several layers of protection in your business, including the shareholders agreement, various contracts, documented policies and procedures, it is personal risk insurance that protects and compensates your business against loss or revenue and capital as a result of losing vital people to death, serious illness or long term disability. If you leave this decision far too late, health problems may impair your insurability and premium affordability. Act now while you have good health and Call me for advice from a knowledgeable adviser - business owner who knows the risks and challenges you face.
“The biggest risks in smaller businesses are the loss of the owner or other key people to unexpected health misfortunes. Ask for a business insurance review to protect your lifetime of sweat equity.”
Can your business continue if you are sick or injured for a few months?
- Yes
- No
- Undecided/Tell Me More
Can your Business Continue if you are Sick or Injured:
There is every chance a larger business with competent management and staff can continue without you for a considerable period of time. However, a small to medium business is more likely to rely heavily on your active involvement in the business. So not only should you protect the income generated by your business, you also need to cover the continuing business expenses that you must continue to pay even though you can’t work, otherwise they will bite a big hole in your income protection payments. Because your business is also your source of accumulating wealth for the future, you need to consider protecting the growing equity in your business. For business owners, you are effectively putting a safety net under your retirement. Make an appointment and I will show you how to retire from your business and how to convert your sale-of-business proceeds into superannuation, and how to use personal risk insurance to cover any unexpected and involuntary exit.
“A business can go downhill fast if it is without its owner for too long. When revenue drops and expenses just keep coming, years of accumulated sweat equity can quickly disappear. Ask for a business insurance review to business expenses and protect your retirement investment you molded."
Do you know how you will exit your business with money and retire?
- Yes
- No
- Undecided/Tell Me More
How you will Exit your Business:
Every business owner wants to be able to retire from their business with fair value for the years of sweat equity, and to exit at the time of their choosing. It is ideal to start planning your exit from the start-up of your business with a well drafted shareholder agreement, and put into place a financial safety net in the event that premature death, serious illness or disability results in your involuntary exit. Owner succession is of great concern to most business operators and it is never too late. Succession planning involves identifying the timing and funding of your exit, as well as a suitable and willing future owner. That person could be a member of the family, of the management group, the owner of a competitor business or an external purchaser. Personal risk insurance is routinely used as a relatively inexpensive source of succession funding in the event of an involuntary exit caused by premature death, serious illness or disability. Insurance-based funding usually comes as part of a buy-sell package which includes a mandatory sale agreement at a predetermined price. Make an appointment and I will explain in more detail how such an arrangement might work for you and your business.
“What every business owner wants is to realise the full value of their business; and to retire at the time of choice. It is all too often that a serious health issue or premature death can get in the way of that goal. Ask for a review to find allow that goal can be realised for you or your family, no matter what.”
Do you have a financial plan for your family if you suddenly die?
- Yes
- No
- Undecided/Tell Me More
A Financial Plan for your Family in the event of death:
The most basic protection plan you can have is life insurance. The typical Aussie response of, “I’ll be right mate” just doesn’t cut it. In fact, life insurance protection isn’t for you; it’s a financial safety net for your family in the event that you the breadwinner pass from this world prematurely. Not having it means that you leave your family in a financial hole if you pass away prematurely. Having sufficient life insurance makes all the difference to the lives of others in your absence. The proceeds of life insurance policy can be used to pay out your home mortgage, put food on the table, pay bills, educate your children, and maintain a reasonable lifestyle for your family in your absence, at which point they may be left with little or no income. Make an appointment now to put a financial safety net under your family.
“If you were to die tomorrow and, as a result, your family is thrown into financial chaos you are probably underinsured. Regardless of what you see on TV, underwriting is not a major inconvenience, and provided that you tell the truth, it does guarantee payment when you need it most. Ask for an insurance protection review with personal advice.”
Do you know the wonderful benefits of ‘Transition to Retirement’?
- Yes
- No
- Undecided/Tell Me More
Transition to Retirement:
Transition to retirement (TTR) is a positive government initiative which allows a person who is over their preservation age but not yet ready to give up work, to draw an income stream from their super, while still working and contributing to super. Your preservation age is an age between 55 and 60 and depends directly on your year of birth. It is the age of first possible access to your super. Between ages 55-60, withdrawals from super are taxable but over age 60 under the current rules, all withdrawals from complying super funds don’t attract tax. When you consider that all employer contributions into super are taxed at a flat rate of 15%, you can see that transition to retirement can be a tax effective strategy if structured correctly, particularly over the age of 60. Make an appointment and I will show you how you can maintain you same income and pay less tax using the TTR strategy.
“Approaching retirement? There is more to the ‘Transition to Retirement’ strategy than meets the eye. The challenge is to tailor it tax-effectively to your particular circumstances. Ask for a pre-retirement review."
Do you know how to withdraw your super tax effectively?
- Yes
- No
- Undecided/Tell Me More
Withdrawing your Super Tax Effectively:
Many people make the mistake of withdrawing a lump sum from their super to take a holiday or pay off their home and find that they lose a lot of it in tax. Under age 60, superannuation withdrawals are taxable. Please come and get advice before taking money out of your super. It will save you a lot of money because knowing the rules means that you take the right amount at the right time without paying unnecessary taxation. Don’t pay more tax than you need to. Make an appointment and I will show you the right way to go about it, and other ways to preserve and grow your super.
“When it comes to withdrawing your super, there are many factors to consider, not the least of which is how to make it last. Ask for a review of your super and retirement needs.”
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Assess Your Personal Finance Needs

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