If you are over 65 years of age, there are significant incentives in place to downsize.
A Government initiative, introduced last year, allows you to contribute up to $300,000 to your super from the proceeds of selling your home. There are no restrictions on purchasing a smaller house and you don’t even need to re-enter the property market to benefit from the incentive.
A common misconception is that financial advice is all about achieving investment returns, but we beg to differ.
While investing and investment returns are important, in our experience they are far outweighed by the strategic and structural advice we provide that achieves significant financial outcomes and tax efficiencies for our clients.
Our 7 ‘wealth fundamentals’ are designed to deliver outstanding financial outcomes whatever your age and stage of life, even for our most financially savvy clients.
Super is one of the most tax-effective ways to build your retirement savings, and there are a number of strategies available to you which can really make a difference to your long-term savings.
But given the regular changes to the super rules, it can be difficult to know what you can and can’t do and, more importantly, what you should do.
When it comes to personal insurance, having some insurance is better than nothing, however just having an insurance policy in place does not mean you are adequately insured. If you hold your personal insurances through an Industry Super fund, you may not have the insurance cover that you think you do. The true value of any insurance policy comes in the wording of the policy. The devil really is in the detail.