It’s almost the end of the financial year, so this month we’re bringing you some things to consider as we approach June 30, including 5 important considerations for the EOFY. We also share ideas that may help you accelerate your savings with the help of behavioral science.
We hope you enjoy this edition!
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
Proceed with caution Bank of Mum and Dad
Stepping in to help children enter the property market might be a noble thing to do. But it can come with a few risks that are worth being aware of.
5 important considerations for 2021-22 EOFY
EOFY is just around the corner. Learn 5 things that may help to reduce your personal income tax and/or provide for your retirement.
Accelerate your savings with the help of science
If your saving efforts are feeling sluggish, here are some simple yet effective science-backed ideas to try on for size. One might just work for you.
Vanessa Stoykov: How to stop money ruling your emotions
Your money and emotions are interconnected, more than you might realise. Learn some handy tips on how to navigate uncomfortable emotions and make smarter money decisions.
How to get through life’s unexpected challenges
Just when you thought you’d reached your limit, life throws more unexpected challenges directly in your path. Read on for some tips to get you through a difficult time.
This month’s feature article explores the conditions of release for superannuation.
Benefit Payment Standards is a term which encompasses the conditions of release in which you are eligible to access your super and the cashing restrictions that can apply, for example, whether your super benefits can be paid as a lump sum, income stream or both. Read the full overview below.
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
Talking crypto – a story of caution
Between June and November of 2021, a group of Australians collectively lost an estimated $374,000 to a crypto investment scam. We hear a lot about the highs but there are also many lows.
Superannuation: conditions of release
To be eligible to access super, you must be able to meet a specified condition of release. In this article, we give an overview of the conditions of release—which isn’t limited to ‘attaining age…
Delayed gratification is a key to wealth (if you can wait long enough)
Becoming a master of delayed gratification means you can buy as many marshmallows as you want, forever. Delayed gratification is basically your ability to resist the allure of an instant reward.
Two billionaire traits you can adopt
Vanessa Stoykov has known billionaires, millionaires, and those who aspire to be—and there are two common denominators that come up time and time again. Find out what they are.
Home loans and refinancing
Your home loan will likely be the largest debt you pay off in your lifetime, by taking a proactive approach you could free up cash flow sooner.
4 tips to stop bad decisions during a crisis
Dr. Kirsten MacDonald from Griffith University provides critical insights on how to avoid a triple whammy when making investment decisions in a crisis.
SPECIAL ANNOUNCEMENT
The 2022-23 Federal Budget was delivered on 29 March 2022 by Treasurer Josh Frydenberg.
Notably, in this year’s Federal Budget, the Government’s policy priorities—and the proposed measures announced to help achieve these priorities—centre on delivering a plan to strengthen the future for all Australians by:
- building a stronger and more productive economy to create more jobs,
- addressing the cost of living pressures and managing current challenges,
- strengthening our regions and critical infrastructure,
- guaranteeing essential services,
- protecting our interests, and
- extending the temporary reduction in superannuation minimum drawdown rate, until June 2023.
Below is an article highlighting the main proposed measures followed by two videos that may be of interest.
Please contact us if you wish to discuss any aspect of this year’s Federal Budget and how it may affect you. We’re here to guide you through life’s challenges and opportunities with trusted financial and lifestyle solutions.
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
2022 Budget: The ‘Stronger Future For All Australians’ proposed measures
On 29 March 2022, Treasurer Josh Frydenberg delivered the 2022-23 Federal Budget. We provide an overview of key proposed policy measures that may be relevant to you and your personal finances.
2022 Budget: Leigh Sales’ interview with Treasurer Josh Frydenberg
Treasurer Josh Frydenberg announced many proposed policy measures in the 2022-23 Federal Budget. ABC News’ Leigh Sales interviews the Treasurer to discuss these measures in more detail.
2022 Budget: James Glenday’s Budget papers overview
The 2022-23 Federal Budget papers provided information on the Government’s policy priorities (and proposed policy measures). ABC News’ James Glenday delves further into this information.
Welcome to March 2022. This month we dive into an overview of self-managed super funds (SMSF) trustee responsibility, eligibility, and structure types. As at 30 June 2021, there were over 598,000 SMSFs and over 1.115 million members of SMSFs in Australia.
While the above figures suggest an SMSF is a popular choice for some, it may not be appropriate for everyone. In terms of setting up an SMSF, there are a number of steps involved—several of which centre on trusteeship. Read the full overview below.
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
SMSFs: Individual trustee vs. corporate trustee
At 30 June 2021, 65% of all SMSFs had a corporate trustee structure—instead of individual trustee. In this article, we discuss SMSF trustee responsibility, eligibility, and structure types.
The 2021 HILDA Survey: Retirement trends
The Household, Income and Labour Dynamics in Australia (HILDA) Survey collects information on many aspects of life. In this article, we explore retirement trends highlighted in the 2021 HILDA Survey.
Small business CGT concessions
If considering the sale of business assets, you may be eligible for CGT concessions, which could help with any associated capital gain. In this animation, we illustrate small business CGT concessions.
Jargon buster: Personal insurance edition
In the finance industry, there can be a considerable amount of jargon. In this article, we help clarify some of the commonly used jargon within the personal insurance space.
ABC News: Home loans and interest rate considerations
On 1 February 2022, the RBA made the decision to maintain the cash rate target at 10 basis points. In this ABC News video, Alan Kohler discusses his thoughts on home loans and interest rates.
Vanessa Stoykov: 5 questions that could save you thousands
Vanessa Stoykov is a renowned Australian money educator. In this special financial education piece, Vanessa shares five simple questions worth asking yourself that could very well save you thousands.
In this month’s top article, we provide an exercise on future self-continuity, which may help with getting ahead financially to realising goals.
For some of us, it can be difficult to get ahead financially and stay the course, this struggle can sometimes be due to a disconnect between our present and future self, which can arise from one or a combination of reasons.
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
Finance exercise: A letter from your future self
“Our future self is the beneficiary or unfortunate inheritor of all our major decisions and daily choices.“ (Ganschow et al., 2021). In this article, we share a future self-continuity exercise.
Ageing in place: The liveable and adaptable home
Many older Australians desire to age in place, though housing and care needs change as people age. In this article, we cover retirees ageing in place—and the ‘liveable and adaptable home’ concept.
Personal insurance: Claims process
Making an insurance claim after an unfortunate health event can add additional stress, especially if you are unfamiliar with the claims process. In this animation, we illustrate the claims process.
Carry-forward (catch-up) concessional contributions
If you work casual or part-time, take time out of work, or have ‘lumpy’ income, it can mean periods where no super contributions are made. In this article, we discuss the carry-forward provision.
Working remotely: Productivity and wellbeing tips
The increase in remote working is likely here to stay—one way (fully remote) or another (hybrid). In this video, there are tips on working remotely without having productivity or wellbeing suffer.
Vanessa Stoykov: 3 steps to building a safety net
Vanessa Stoykov is a renowned Australian money educator. In this special financial education piece, Vanessa explains the benefits of safety nets—and 3 steps to consider when looking to build one.
Welcome to 2022. We hope you had a happy and safe festive season.
Our top article pick this month focuses on reflecting on 2021 and planning for 2022.
Vanessa Stoykov explains the intrinsic value, and potential benefits, of setting aside time to reflect on 2021, which was a most unusual year with changes to work, friends and family. She then looks to 2022 and the benefits on planning for the future and your financials, for the new year now standing before us.
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
Vanessa Stoykov: Reflecting on 2021 and planning for 2022
Vanessa explains the intrinsic value, and potential benefits, of setting aside time to reflect on 2021 (a most unusual year) and plan for 2022 (the new year now standing before us).
Key financial habit considerations for the New Year
Reflection can be a useful tool when entering a new year and looking to build upon what you have already achieved towards your goal. Reflection can help identify present habits that are either aiding (desirable), or hindering (undesirable), you on your path to achieving your future goals.
First homebuyers: Saving a home deposit
Given the climate (eg housing prices, wage growth and living costs)—and despite several targeted Government initiatives—saving a home deposit can be a significant hurdle.
Boosting retirement savings with super contributions
Whether you dream of retiring and travelling the world, caravanning around Australia, or pottering in the garden, the question remains the same for the vast majority of us: “How much money will I need in retirement?”
Investor behaviour: Research on investment switching behaviour
Unfortunately, for some of us, when making a decision that affects our short, medium or long-term financial wellbeing, a behaviour gap can arise between what we should do (rationally) and what we actually do (irrationally).
Google: Year in search 2021
Undoubtedly, 2021 (much like 2020) was a challenging year for many of us, both individually and collectively—again, due predominantly to the ongoing issues, and subsequent impact, of the COVID-19 pandemic.
This month’s newsletter begins with information on key super changes. Recently introduced into parliament, these changes are relevant to wealth accumulators and retirees alike.
Our animation illustrates longevity risk, likely one of the greatest risks retirees can face.
Child care is a cost many families struggle with – we cover two incoming changes to the Child Care Subsidy.
Upon assessing an individual’s formal insurance application, an underwriter may issue revised terms – we discuss what revised terms are.
We also share a TED Talk, in which psychiatrist Robert Waldinger offers practical wisdom on how to build a fulfilling and long life.
Lastly, Vanessa Stoykov’s latest financial education piece explains the importance of setting investment goals and following through with a plan to achieve them.
We wish you a happy and safe festive season and look forward to seeing you in 2022.
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
Update: ‘Enhancing Super Outcomes For Australians’ legislation
In the 2021-22 Budget, key proposed measures were announced in relation to super. In this article, we provide an update on several of these measures currently sitting in parliament.
Retirement planning and longevity risk
In pre-and post-retirement, it’s important to understand the risks retirees can face and have a retirement plan in place to help weather them. In this animation, we illustrate longevity risk.
The cost of raising children: Child care subsidy changes
One particular cost many families can often struggle with is the cost of child care. In this article, we cover incoming changes to the Government’s Child Care Subsidy – due to commence shortly.
Underwriting: Revised terms (eg loadings and exclusions)
When an underwriter assesses the information contained in an individual’s insurance application, the need to take risk-reduction action may be identified. In this article, we discuss revised terms.
What makes a good life? Lessons from a study on happiness
What keeps us happy and healthy as we go through life? In this TED Talk, Robert Waldinger shares lessons learnt from a study on happiness, and practical wisdom on building a fulfilling, long life.
Vanessa Stoykov: Investing is nothing without goals
Vanessa Stoykov is a renowned Australian money educator. In this special financial education piece, Vanessa shares why it’s key to set investment goals and also have a plan to achieve them.
This month’s newsletter begins with a discussion around retirement and key considerations in terms of housing and homeownership.
Our animation illustrates the finer details of contributing to super via non-concessional contributions.
The Australian Prudential Regulation Authority (APRA) recently announced changes to both home loan serviceability for new borrowers and income protection insurance products — we provide coverage of these changes.
For some high-income earners, an additional 15% contributions tax (Division 293 tax) may apply on some or all of their concessional contributions — we outline the main points surrounding this tax.
We also share an insightful National Geographic video, which showcases the powerful impact that positive reinforcement can have on us when confronted with completing a task.
Lastly, Vanessa Stoykov’s latest financial education piece looks at how having children can profoundly alter our priorities, and subsequently change our approach to long-term planning.
Don’t forget to make the most of the Bellwether Knowledge Centre by joining today for an exclusive login. Browse member-only industry information and help improve your personal financial circumstances.
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
Retirement and housing (homeownership)
Housing (homeownership) is a key factor influencing retirement outcomes—not just financially speaking. In this article, we discuss retirement and several things to consider with regard to housing.
Non-concessional contributions animation
Come retirement, many factors will have impacted your super account balance, such as time along with contributions. In this animation, we illustrate the details of non-concessional contributions..
APRA updates: Home loan serviceability and income protection insurance
APRA supervises institutions and promotes financial system stability. In this article, we discuss APRA’s new guidance and direction on home loan serviceability and income protection insurance.
High-income earners: Division 293 tax
When it comes to tax on concessional contributions, some high-income earners may have to pay an additional 15% tax (Division 293 tax). In this article, we provide a brief overview of Division 293 tax.
Money & life: The power of positivity
Your thoughts on money, and the support around you, can play a key role in how you manage your money. In this video, National Geographic conducts an insightful experiment on the power of positivity.
Vanessa Stoykov: What your kids teach you about wealth
Vanessa Stoykov is a renowned Australian money educator. In this special financial education piece, Vanessa shares how children can alter our priorities and change our approach to long-term planning.
This month’s newsletter begins with an overview of accumulating wealth inside super via personal deductible contributions.
Our animation illustrates investing and the benefits associated with the goals-based investing approach.
In retirement, there may come a time when you need help looking after yourself – we provide information on the different types of aged care services.
COVID-19 continues to impact many of us financially – we cover the Government’s support available to those eligible.
We also have a candid, heartfelt TED Talk by Michelle Knox, which touches on a subject that can often be difficult to discuss – our life and legacy.
Lastly, Vanessa Stoykov’s latest financial education piece looks at ways to mentally navigate the challenge of money-related stress and focus on more positive areas of your life.
Don’t forget to make the most of the Bellwether Knowledge Centre by joining today for an exclusive login. Browse member-only industry information and help improve your personal financial circumstances.
Kind Regards,
The team at Bellwether Financial Group
Newsletter Articles
Contributing to super: Personal deductible contributions
For the 2018-19 financial year, 436,952 individuals claimed on average $13,395 in deductions for personal super contributions. In this article, we briefly cover personal deductible contributions.
Goals-based investing animation
Goals-based investing can involve allocating investment assets that target a certain investment return to achieve a certain goal. In this animation, we illustrate the goals-based investing approach.
The different types of aged care services
In our retirement years, a time may come when we need to consider aged care services to help with looking after ourselves. In this article, we discuss several different types of aged care services.
Update: COVID-19 financial support measures
Unfortunately, the potential to experience financial difficulty due to COVID-19 still persists. In this article, we provide a brief overview of two key Government COVID-19 financial support measures.
Talking about death while you’re still healthy
Do you have wishes when you pass away? Do you know how you would like to be remembered? In this candid, heartfelt TED Talk, Michelle Knox touches on a difficult subject to discuss with loved ones.
Vanessa Stoykov: How to lower your money stress
Vanessa Stoykov is a renowned Australian money educator. In this special financial education piece, Vanessa shares ways to mentally get around the challenge of money-related stress.