AMP Deputy Chief Economist Diana Mousina looks at the issues that have led to the increasing wealth divide between older and younger Australians Comparing wealth inequality has long been a popular debate in Australia, from popular slogans like “OK Boomer” to generalisations about the “smashed avo eating” millennial and Gen
The start of a new financial year is the perfect time to get your financial affairs in order. Whether it’s tidying up your paperwork, assessing your portfolio or dealing with outstanding issues, there are plenty of practical actions you can take. Here are some strategies for starting the new financial
You may have heard it said, “No risk, no reward.” But did you know that time can actually decrease your risk while increasing your reward? Investing: Risky business? When some people think of investing, they focus on the potential for great rewards—the possibility of picking a winning share that will
Here’s a guide to how CGT works and some ways to minimise your tax burden Capital gains tax is charged on the profit you make from the sale of assets. CGT can apply to assets you’ve purchased or inherited – shares, investments, land, property (special rules apply to your primary
With less than a month to go before the end of the financial year (EOFY) rolls around, some important tasks need to be completed for family trusts. Discretionary trusts (often called family trusts) are the most common trust used in Australia and are generally created to hold and protect family
Here’s a quick rundown of the latest law changes They say nothing is certain in life except two things – death and taxes. Australians can probably add a third – the knowledge that come the end of financial year, the rules around superannuation and taxation will inevitably change. It can
ASIC urges you to hang up on cold callers and scroll past social media click bait offering to help you compare and switch super funds. How super cold calling works Cold callers often use high pressure sales tactics to convince you to buy a product or sign up to a
A credit card balance transfer is when you move the amount you owe (the balance) to another credit card. The new interest rate on the balance you transfer may be either 0% or a special low rate for a limited time. If you can pay off the balance you transfer
Among all the voices analysing the Australian property market, you’ve probably heard many truisms about how to secure a home loan. The real truth is that there are lots of options. We thought it was time to correct some frequent misconceptions we hear from our clients. Hopefully this will help
The latest rise in the Age Pension rate still falls short of what many people may need to have a modest lifestyle in retirement. Around 2.58 million Australians received a 1.78% government Age Pension payment boost on March 20 as part of Centrelink’s twice-yearly indexation review. They included the 1.76
Memory loss can make it difficult to stay in control of your money. Things like checking bank statements or investments, or paying bills may become challenging. If you’re starting to struggle, it’s time to put some safeguards in place. A few simple steps will help you and your loved ones
A pause in super contributions can have long-lasting effects. Here’s how to plan ahead for super breaks. There’s a host of reasons why people take career breaks. Having and raising children, or taking an extended holiday or sabbatical, are the most common reasons. Vanguard’s 2023 How Australia Retires study, based on a
