We are an Independent Firm!
You don't know how good it feels to be able to write this heading. It's really important to understand that you have to be careful calling yourself an independent Financial Planner in the current environment. There is so much that needs to be done and ticked off before you can call yourself this term. The fallout from ASIC is immense if you have not got all your ducks in a row. Let me explain what this means to us and to our current and prospective clients.
Defer your taxes and save for a rainy day.
Farm Management Deposits are a risk-management tool to help primary producers deal with uneven cash flows. Uneven income is common in primary production businesses because of things such as natural disasters, climate and market variability. The FMD scheme allows primary producers to set aside pre-tax income from primary production in years of good cash flow to draw on in years of lesser cash flow.
Check out our secret menu.
You might have heard about In and Out Burgers in the U.S.A. I personally have never been there but I follow a financial planner - Jeff Rose from Good Financial Cents who is absolutely in love with this burger place which he believes is better than McDonalds.
Part of their allure is that they have a simple menu, so unlike McDonalds that has huge options, they have 3 burger options and that's it. Double Double, Cheeseburger and a Hamburger. That's it.
Welcome to your Retirement.
I was reading Ben Carlson's - A Wealth Of Common Sense blog last week and he has highlighted 50 ways that the world is better than it used to be. Out of all the points that he stated, this was the point that stuck out most for me.
What if My Financial Planner Dies?
A frequent question I get asked when talking to prospective and current clients is, " what would happen if you died?" A real risk of placing your trust with a wealth management firm is having your plans go into a tailspin if the inevitable happened to your trusted financial planner.
This is how I answer this question.
Being Frank about it.
SMSFs will potentially be affected by the Federal Opposition’s recently announced intentions to remove the ability for excess imputation credits to be refunded (albeit with clarification that pensioners and some self managed super funds (SMSF) may be exempt from this change).
Budgeting 101: Working out your income and expenditure
Getting your finances sorted begins with a budget and understanding your cashflow. See the steps required to own your cashflow so that you can control your finances and your finances not controlling you.
Downsizing for a better Retirement.
A brief outline of how you can sell your home and then contribute to super to access a tax free income stream. Check with us what hurdles you need to jump over to maximise this opportunity.