A smart saving strategy is just one element of achieving financial security – you also need a deliberate plan to manage and make the most of what you have. Here, 10 money-savvy women share one tip that’s helped them get their finances into a healthier state. 1. Don’t put all your eggs in one basket Millionaires…
How much tax you pay on your super contributions and withdrawals depends on: your total super amount your age the type of contribution or withdrawal you make If you inherit someone’s super after they die, the person’s super fund pays you a super death benefit. You may have to pay tax on some of this…
Contents insurance covers your household items and personal belongings if they’re damaged, lost or stolen. This can include your furniture, clothes, computer, fridge, television, tools and jewellery. If you own your home, you can bundle your contents insurance with your home insurance. This is usually cheaper than having separate policies. Getting the right contents insurance When…
A ‘transition to retirement’ (TTR) strategy lets you access some of your super and keep working. Setting this up can be complicated, so contact your super fund or financial adviser for advice. How transition to retirement works If you’re aged 55 to 60 and still working, you can use a TTR strategy to: supplement your…
Many of us spend a great deal of time planning for our retirement but understandably, often do not put the same degree of effort into planning for our deaths. It is not always a pleasant topic to think about, nor is it a commonly understood process. It is however a way of caring for your…
The Reserve Bank’s decision this month to cut the official interest rate to a record low 0.1 per cent was another wake-up call for Australians heavily reliant on income from savings, especially many retirees. A look at the latest domestic monthly banking statistics shows that at the end of October Australian households collectively had $1.1…