Mentor Financial Services GroupUnderstanding market volatility Many investors become concerned when volatility occurs in global financial markets – particularly about the impact on their superannuation and other investments. In times like these, it’s important to understand the causes of market movements and how to minimise your risk. Why do markets move so much? Markets are influenced by many […]
A real cybercrime story Australians lost over $3 billion to scams in 2022 alone. With investment scams being the most common, consider these insights so you can better protect yourself from online criminals. This is a story where scammers created a website and emails that looked legitimate. What was the scam? An example from Colonial […]
What’s the best age to retire? There is no magic age at which to retire. But what’s important is to plan for a longer retirement than you may expect. This is in part because research shows we’re now living longer than ever. According to the Australian Government Actuary (AGA), factoring in improvements in life expectancies […]
How to help grow your money through compound interest Earning interest on interest: learn how the power of compounding can send your savings rocketing. Key takeaways Einstein has repeatedly said that compound interest is the eighth wonder of the world. While it may appear complicated, it’s actually a relatively simple concept that can accomplish extraordinary […]
5 ways to do more with less money in your relationship We all want to live a good life with our partner, but does that have to include fine dining every night and travelling to exotic destinations? Here are five tips for enjoying the best in life without blowing the budget. Keep track of the […]
Stressed but surviving – Aussie women and their finance Taking control of your finances starts with your super. As we battle rising interest rates, cost of living pressures and a general COVID-related economic hangover, it’s fair to say that financial stress is affecting most Australians, regardless of age, background or gender. But the reality is […]
How to upsize your super with a tax-free downsizer contribution Did you know from age 55, you may be eligible to make a super contribution of up to $300,000 using the proceeds from the sale of your home? Downsizing your home in retirement could have several upsides – some money in your pocket, less maintenance, […]
Help your retirement funds last the distance Retirement is a time that many Australians eagerly anticipate, providing plenty of time to pursue hobbies, do more travelling, or simply kick back and enjoy the fruits of your labour. We will outline key strategies to help boost and preserve your retirement savings, to help you achieve long-term […]
How to invest responsibly and ethically If you’d like your money to make a difference to the world as well as your future, responsible investing may be for you. Almost 9 in 10 (89%) Australians feel it’s important their financial institution invests responsibly and ethically across the board1. Ethical, social and governance (ESG) investments accounted […]
How to budget as interest rates rise Having a solid budget is crucial to building financial resilience and as rising rates continue to put pressure on household finances, it could help to look at ways to save more and spend less. With Australia being one of the most highly leveraged countries in the world1 and […]
How to help grow your money through compound interest Earning interest on interest: learn how the power of compounding can send your savings rocketing. Key takeaways Einstein has repeatedly said that compound interest is the eighth wonder of the world. While it may appear complicated, it’s actually a relatively simple concept that can accomplish extraordinary […]
Five facts everyone needs to know about life expectancy With the life expectancy of Australians increasing over the years, most of us can assume we’re going to live longer than previous generations. But are our expectations on the money, or way off the mark? We bring you five important facts everyone needs to know about […]
How to get more from your 2023 tax return with super contributions We all want to make the most of our tax return each year. Did you know, other than claiming the usual work-related expenses, certain super contributions may also be tax deductible? If you’re looking at what deductions you might be able to claim […]
15 common sense tips to help manage your finances 1. Shop around We often shop around to get the best deal when it comes to consumer items but the same should always apply to services we get. It’s a highly competitive world out there and service companies want to get and keep your business. So, […]
Why do you need superannuation? When you’re just starting out in the workforce, it’s easy to see superannuation as money that’s not quite yours. After all, if you’re focused on funding your lifestyle and saving for short-term goals, retirement can seem a lifetime away; and seeing a chunk of your salary disappear into super every […]
Rebooting for retirement As retirement comes into view, it’s time to imagine a new you for the post-work age. You remember your first day at school, your first job, your first home. And now your final paycheck is in sight. You’re nearly there. That’s quite an achievement. How to be trigger happy As with other […]
Building an emergency savings fund With the number of unpredictable events that have happened in the past few years, from COVID to inflation, being financially prepared for a crisis has never been more important. If an emergency were to happen, like an unexpected job loss, car repair or illness, having an emergency fund can help […]
Making downsizer contributions into super If you’re over 55 and looking to boost your retirement savings, you may be eligible to make a super contribution of up to $300,000 from the sale proceeds of your primary residence. On 1 January 2023, the age when eligible Australians qualify to make downsizer contributions was reduced from 60 […]
What are the steps to investing? Want to invest but don’t know where to start? Here are five basic steps for investing. 1. Define your goals Taking the first step on your investment journey may feel daunting. However, setting clear goals with achievable targets can be a good place to start in the planning process. […]
Protect yourself against romance scams Dating and romance scams are very destructive – both financially and emotionally. Don’t let them break your heart or wallet. Stay one step ahead of romance scams with these tips. Unfortunately, romance scams are on the rise. Australians lost $142 million to romance scams in 2021 and they’re one of […]
What is the retirement age in Australia? When will you be ready to retire? There are two important ages you need to consider when thinking about retirement – preservation age when you are eligible to start drawing on your super and Age Pension age when you are eligible to receive the Age Pension. Age Pension […]
Understanding different investment styles When it comes to investing, there’s no one size fits all strategy that can assure success but there are some different investment styles that could help investors achieve their goals. Growth investing, value investing, momentum investing and dollar-cost averaging – these are some of the common buzzwords used to describe different […]
What’s the best way to get insurance organised? Making sure you’re getting the best deal on insurance without missing out on the cover you need can feel like a minefield. Get to know where and how to buy. The low down on buying insurance There’s no two ways about it; insurance can be pretty dull. […]
Say goodbye to tax troubles Do you find yourself drowning in random receipts when EOFY comes around? Learn to lodge your tax return the easy way with these last minute and longer-term tax hacks. Tax paperwork is something few of us take in our stride. In fact, the majority of people hand over much of […]
Avoid the superannuation death tax While there has not officially been any death duties in Australia for decades, they definitely still exist, albeit under another name – superannuation death benefit taxes. As superannuation assets and individual balances continue to grow, more and more Australian families will receive a rude shock after the death of a […]
Buying an investment property Is an investment property the right choice for you in retirement? What you need to know about buying an investment property Buying a rental property is a very popular investment in Australia. For many investors, the appeal of owning an investment property is linked to their familiarity with this asset class […]
Can super secure a woman’s future? Here are some stark numbers on the difference between men and women at the point when they retire: To be balanced, we should remember there are many situations where the shortfall in a woman’s super balance is offset by them sharing their partner’s super but that assumes away a […]
Why staying invested matters when markets fall It’s natural to feel nervous when markets fall. News about inflation and rising interest rates may prompt you to make an emotional investment decision. But history tells us that markets trend upwards in the long run – and switching investment options at the wrong time can have a […]
How old is too old for insurance? As you age and your health starts to deteriorate, having a financial safety net and protecting your nearest and dearest may become even more important. So, how old is too old for insurance, and do you or your parents still need cover if they are nearing retirement or […]
3 things to consider if your Super balance falls From time to time, market movements may cause your super balance to fall. While this can be alarming, you’ll find that it usually recovers in due course. However, if you feel like you need to make some adjustments to your super, here are three things to […]
The ups and downs of superannuation Many of us like to keep an eye on our superannuation balance. It’s only natural, as we all want to retire in relative comfort, and for many people super is their second largest asset, after their family home. If you’ve been checking your super over the last few months, […]
How to deal with rising inflation Between March 2021-22, inflation in Australia rose by 5.1%. Meanwhile, wages only rose by 2.4%1. With the bare essentials becoming – well, expensive, it’s not surprising that many people are looking for new ways to save money or increase their income. The good news is there are steps you […]
Smart strategies for paying down debt Being in debt can really wear you down, both financially and emotionally. Whether it’s a single large credit card balance or multiple loans, store and credit cards owing, getting clear of your debts is going to make a big difference to your financial future. To get started on an […]
3 golden rules that make saving for retirement easier If you’ve thought about how much money you need to save so you can retire comfortably, it might feel a little daunting. Maybe so much so, you’d rather not think about it at all. But, according to AMP Technical Strategy Manager John Perri, there are three […]
9 ways to teach kids the value of money at Christmas What’s the meaning of Christmas in your household? While it can sometimes feel like spending a small fortune on gifts and food is non-negotiable, it’s not the only option. And, if you have kids, the holidays are a great time to teach them about […]
Impacts from Falling Home Prices: The Wealth Effect The impacts of interest rate hikes on consumers are well known; higher interest means that mortgage debt servicing costs will go up which is negative for consumer spending. Rate hikes are also bad news for home prices, which will create another negative for households via the destruction […]
What are some investment options outside of super When it comes to investing, you have two options – inside or outside of super.Super, being a longer-term investment designed to fund your retirement, comes with a number of advantages such as being lightly-taxed (which can mean, more money to invest in your financial future) but does […]
How to save for retirement in your 40s By the time you’re in your 40s you’ll potentially be earning more money than you may have previously – but you may also have unexpected or unwelcome expenses, like divorce. At this age you might also put retirement planning on the backburner in favour of more pressing […]
What you should know about creating your will and estate plan If you want to protect your family and assets, it’s worth documenting what you’d like to happen if you can’t make your own decisions later in life or if you pass away. If you’ve got people in your life who you love and assets […]
Why paying off your mortgage faster might not always make sense For the most part, paying off your mortgage quicker makes sound financial sense. But there are times where it may be wise to put extra money towards a different goal: Paying off ‘bad’ debt first Paying off ‘bad’ debt first – some debts, such […]
Investment fundamentals to consider in volatile times Sharp share market falls are stressful for investors as no one likes to see their investments fall in value. But at times like these, there are number of key things for investors to bear in mind. Compounding Compound interest is magical! The value of $1 invested in 1900, […]
Consumers warned about Fake Investment Opportunities as losses top $20m Losses to imposter bond investment scams have nearly tripled in the first half of this year with consumers losing over $20 million to these sophisticated scams. Imposter bond scams usually impersonate real financial companies or banks and claim to offer government/Treasury bonds or fixed term […]
Active versus Passive Investing – What’s the difference and what’s the best? Investing in shares is a popular way of helping people to achieve their long-term financial goals. These investments can generate favourable returns over time as companies grow and improve their profitability. Dividends paid by listed companies can also generate a useful income stream. […]
Five Questions to ask before Plunging into an ETF Exchange Traded Funds (ETFs) have been available on the ASX for over 2 decades, but in recent years, this category’s variety and representation within Australian portfolios have grown rapidly. By offering exposure to different global markets, industry sectors and strategic themes, as well as non-equities asset […]
Did you know gifting can impact your Age Pension? Gifting, or financially assisting family or friends by giving away some of your assets or accumulated retirement savings, can be a great way to help out younger family members or friends. But before you gift a significant amount, it’s important to understand how this could impact […]
Tips to reduce your debts before you retire While many Aussies will carry some debt into retirement, the good news is, there are a number of things you could do now while you’ve still got time on your side and earning an income. Get serious about having a budget A good starting point when it […]
Building an investment portfolio with pocket change The concept of investing in shares or other investment products can put a lot of people off. It can be difficult to understand, the share market is intimidating, and investment brokers generally only deal with people who have a lot of money to invest. Micro-investing came about as […]
How much do I need in retirement? How much you need to save for a comfortable retirement is a question many of us ask. While we all hope for a simple answer, how much money you need in retirement differs for everyone. Additionally, a comfortable retirement is based on a whole range of factors including: […]
Teaching your kids to spend wisely There are many reasons we fall into the trap of overspending. One reason is we get bombarded with very effective advertising on social media where data scientists and algorithms seem to know what we will be tempted by before we do. Perhaps we are emotional spenders and buy things […]
Do I need insurance cover? “Do I really need this insurance?” It’s probably a question you’ve asked at some point when deciding whether to part with your money. But maybe the real question should be “What if I became ill, how would we cope?” Your health and wellbeing is the most important asset you have, […]