Financial Planning Perth

General discussion on the activities of a financial planner and their clients, as well as comment on broad industry trends and practices.

Retiring Age in Australia

Retiring age in Australia
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In my role as a financial planner i am often asked questions about the retiring age in Australia. There is no simple answer – the age differs according to where your focus is – superannuation, tax or government age pension income support. Here’s a quick look at different versions of the retiring age in Australia.

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Interest rate jitters

losing sleep over interest rate jitters
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What keeps this financial planner awake at night? Currently, it’s thoughts about “the anchoring fallacy” and the impact it can have on money and plans for the future.

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Pension Deeming after 1 January 2015

pension deeming deadline
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D-Day for pensioners is approaching With important new deeming rules coming into effect on 1 January 2015, now is the time to review your superannuation and pension arrangements to ensure you don’t miss out on valuable Social Security entitlements.  Pension deeming after 1 January 2015 will change Account based pensions have generally been given favourable…

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Talking money in a new relationship

Money and relationships
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“Darling, it’s time we talked about money…” In my financial planning experiences, talking about money early in a relationship is incredibly important. Even more important is making sure you talk about money honestly and openly. When a couple start working on a budget, one of the last areas usually tackled is their differing attitudes to…

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Savings are the start of every geat investment plan. Here’s a New York Times page with a very simple “slider” calculator that helps to work out how much your savings could grow to. It’s based on putting aside a percentage of your income – you enter the rate of return and the number of years to invest.

The power of compound interest is vividly demonstrated. i like the emphasis on savings, as so much of mainstream media focus is on investment – which can’t happen without savings.

http://www.nytimes.com/interactive/2010/03/24/your-money/one-pct-more-calculator.html

i’d be interested in your feedback…

Michael

 

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Happiness and a long retirement

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How do you plan for happiness and a long retirement? From a financial planning point of view there are two key questions to resolve before you can come up with an answer: What is a “happy life”, and  How long is “long”?   Happiness in retirement This is really your part of the financial planning…

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Musing on the price of guaranteed returns

guaranteed
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What is the price of obtaining a guaranteed return? More correctly, what will it cost you to buy a guaranteed return? We all want a great tax-free return with no risk but the reality is that every investment involves some element of risk and tax – well, we all know the old saw about death…

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Risk and Return

Risk and return. Making decisions on probability
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Risk and Return are two aspects of investment that are most often discussed separately, as if it were possible to have one without the other. This is especially true in the post-Global Financial Crisis (“GFC”) world, where the range of potential outcomes can be quite large. The GFC and its aftermath have created big huge…

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Musing on interest rates and currency

will Australias currency fall when USA rates rise
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Predicting interest rates is no different to any other form of financial market prediction – it’s only a guess and has a very high chance of being wrong. There are just so many inputs into the interest rate outcome. Some people may be asking themselves whether Australian interest rates will rise? Here are some very…

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