Welcome to the January edition of Financial Insights and Updates.
Our first newsletter for 2020 contains a number of interesting and informative articles starting with an article about four financial resolutions to kick start the new year. The article "Is paying off your mortgage quicker really the best option" will give you plenty of food for thought amidst current low interest rates. We are also sharing an excellent article about five ways to benefit from the current record low interest rates.
If choosing to invest instead of paying off your mortgage, the quiz "How much do you know about investing?" can help strengthen your understanding of investing basics. Prior to actual purchase of investments, reading the article "Placing your family wealth in trust" can help determine how the investments should be held.
For those who are nearing retirement or are newly retired, you should consider reading our article "Retire at 65 but don't retire your money" to see why you should continue making your money work hard in order to address longevity risks.
Our final article this month talks about insurance cover for natural disasters. Seeing the bush fires that have blazed across the country, we felt it was a good reminder for everyone to review their understanding of storm, fire and flood insurances and adjust their cover as necessary.
We are pleased to report that a number of our clients have forwarded one or more of our articles to friends and family because what the article discussed contained information that was helpful in dealing with or understanding a range of financial issues and concerns, so please feel free to do the same.
In signing off, please remember that we are always available to answer any questions or queries you may have about what you have read.
The Team at Savanna Pride
Four financial resolutions to kick start the new year
The dawn of a new year sees many people setting new year's resolutions such as losing some weight or giving up smoking.
Similarly, the beginning of a new year is the ideal time for setting financial goals... Read More
Is paying your mortgage off quicker really the best option?
Not so long ago one of the most effective, low risk wealth creation strategies was to use spare savings to pay down a mortgage, either directly or via the well-disciplined use of an offset account. If your mortgage interest was 8% per annum, that's the effective, after tax investment return this strategy this delivered, substantially reducing the term of the loan and delivery big savings on interest... Read More
5 ways to benefit from record low interest rates
Interest rates have never been lower, and it's possible they might fall even further. This creates opportunities for householders and businesses, so how can you best take advantage of low interest rates? Read More
How much do you know about investing?
Investing is normally a topic that conjures up images of pinstriped executives and sophisticated financial markets.
But in reality, the act of investing is... Read More
Placing your family wealth in trust
The basic function of a trust is to separate control and ownership. The result of using a trust is that assets are protected, and profits are distributed in the most tax-effective way. There is no 'one-size-fits-all' type of trust The trust you use depends on... Read More
Retire at 65 but don't retire your money
Australian retirees are facing a 'double-whammy' when it comes to funding their retirement. On the one hand we, as a nation, are enjoying longer and healthier lives. On the other hand, record low interest rates have slashed the returns on the traditional bedrocks of post-retirement investment portfolios such as term deposits, cash management accounts and annuities... Read More
Welcome to the November edition of Financial Insights and Updates
No one enters into a marriage expecting it to fail but when it happens, it has a shattering effect on all areas of a person's life, including their financial stability. Our video this month "Divorce and separation financial checklist" will provide you with a quick insight to the checklist that is available on the ASIC website that can help a person get through a divorce while keeping their finances in the best possible shape. Our article "Going solo in retirement"then explores the pros and cons, for a person facing retirement alone, for their lifestyle and finances. This is done based on Dianne Kemp’s situation, a 65-year-old retiree.
As usual we have also prepared other articles on a variety of topics which I hope you will find interesting and informative.
In signing off, please remember that we are always available to answer any questions or queries you may have.
The Team at Savanna Pride
Feature Video: Divorce and separation financial checklist
(Please click on the image below to watch the video)
Going solo in retirement
With divorce rates rising among couples aged 55+, more people could find themselves going it alone in retirement. We explore the pros and cons for your lifestyle and finances and speak to Dianne Kemp about her experience of planning for retirement after divorce... Read More
Financial tips for single parents
Making ends meet can be difficult enough for two-parent families, but for single-parent families it can be even harder. With a few small steps you can be on the path to financial security.
For many single-parent families, the struggle-cycle is... Read More
Wealth protection through the ages
Insurance plays an important role in any wealth creation and management strategy. There is little point in accumulating wealth if you don’t protect it, or yourself, from unforeseen risks that can undermine the best made plans. Just as your wealth creation strategy needs to be... Read More
Lending money to friends or family - should you do it?
What would you do if a family member asked to borrow money – besides the less painful option of beating yourself over the head with a fence paling? You want to help, but you’re right to be wary.
It’s a difficult subject... Read More
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