The biggest mistake you can make when it comes to money is not getting started. Procrastination can negatively impact your long-term wealth. If you are someone who tends to put financial matters to the side, you are not alone. Getting on top of things such as insurances, tax planning and investments will ultimately provide peace of mind and set us up for a more secure future. Here we discuss common roadblocks and provide tips for overcoming reluctance to tackle financial tasks.
A healthy financial plan requires saving and investing and it is important to know how they differ. Putting some money aside in a savings account is good for providing a safety net and achieving short-term goals, while investing may provide higher long-term returns and should create wealth and income over time.
Total and Permanent Disablement (TPD) approvals are granted when someone has experienced a life changing health event or injury. Naturally, they come with concerns about future financial security and clients are often quite distressed. If you have had a superannuation TPD claim recently approved, we recommend you seek financial planning advice before you make a withdrawal. TPD payouts allow for some unique and technical financial strategies.
Investing in your family is always a good thing however research consistently shows that women are more likely to take time out of paid work to care for children. This leads to a short fall when it comes to retirement savings. The latest research from ASFA shows a 25% difference, with the median balance for those aged 60 to 64 at $211, 996 for men and $158, 806 for women.
