Consolidating your superannuation funds can save money in fees that can be put back into the fund for your retirement. If you have ever switched jobs, there is a good chance that you have superannuation funds sitting in two or more different accounts. This makes it more difficult to access your funds when you want…
Total and Permanent Disability Insurance can keep you from depending on others if you are permanently disabled. Nobody wants to think about what would happen if they were permanently disabled. A lot of people say, “it will never happen to me” and don’t think twice about it until they suffer a serious injury. Sadly, it…
At Approved Financial Planners, we work with a lot of self-managed superannuation funds (SMSFs). The biggest advantage of a self-managed super fund is that you can invest your money the way you want to. However, if you don’t have the right professionals guiding you, this advantage can turn into a disadvantage. There is a fair…
New regulations regarding deeming rules for Age Pension took effect on 31 March of this year. For many Australians, the new deeming regulations will decrease the amount they can collect on Age Pension. For the purposes of this post, we will try to simplify the analysis of the changes. What is Deeming? If you own…
On 1 July 2014, superannuation fund payments will be made electronically using the new SuperStream system. According to the Australian Taxation Office, the new system has been introduced to assist employers in making their contributions in a more efficient, timely and consistent manner into a member’s account. SuperStream simplifies the process by which funds are…
With vacancies on a slight rise and rents plateauing in most areas around Perth, many property investors are focusing on finding properties that they can improve to create more revenue from rent. Using your Property to Increase Revenue Those who invest in rental properties are investing not only in property, but in lifestyles. People have…
According to the recent Household Financial Wellbeing Index by banking giant ING, two out of every three households report that they don’t have enough funds to live comfortably between paydays. One out of three of those households charges necessities on credit cards between paydays, while nearly half estimate that they would still need to take…
Many Australians purchase income protection insurance and think they are fully covered, only to find out that their policy only provided partial protection and that they don’t have enough to cover all of their expenses. While it’s great to compare policies, a lot of people look for the wrong things and end up making bad…
All Australians are currently required to have a superannuation policy. Many of those compulsory policies include death and disability cover, but some don’t. You may, however, purchase death and disability insurance through your super fund if you don’t have it yet. When Can You Collect? Nobody likes to think of death or disability, but they…
Trauma cover is a relatively new product in the insurance industry. One of its more endearing qualities for many is that it provides a lump sum payment that can help those who suffer traumatic illnesses pay expenses if they are unable to work. But many ask whether it is necessary if they already have income…
