Thursday, November 12, 2015



  1. Consolidate your super accounts.  Multiple accounts means multiple fees.

  2. Make sure you have all your super entitlements.  Go to SuperSeeker to find any lost accounts.

  3. Top up with voluntary contributions; it is one of the best investments you can make.

  4. See if you are eligible for the Federal Governments's co-contributors scheme, which can deliver a 50% boost to deposits.

  5. Check that the insurance in your super meets your needs.

  6. Tailor your investment risk to your age.  In general, young people should be more prepared to take on risk then older people.

  7. Think twice, and maybe even three times, before setting up your own self-managed super fund - and source quality advice.

  8. If you are over 55, consider a transition-to-retirement strategy.


Key Findings - Insurance Literary Report

Thursday, October 01, 2015


Following on from our post 9 September, where we looked at some statistics around Aussies trusting their insurance needs to their superfunds.

We felt it necessary to highlight a number of other issues to have come out of the Insurance Literary Report.

 Key findings include:

• Many Australians (17 per cent) do not know if they have trauma cover.

Almost 40 per cent did not know that being diagnosed with a terminal illness is a trigger for a life insurance payout.

• Less than 10 per cent said they ‘went with their gut feeling’ when choosing how much cover to purchase.

• Over 40 per cent said they weren’t sure if they could buy travel insurance through their superannuation, with 8 per cent believing they could buy this type of insurance through their super.

• Nearly 57 per cent didn’t know if term life insurance purchased via their superannuation fund was tax deductible, or if term life insurance bought outside of superannuation is tax deductible.


Point 2 was very interesting.  Please contact us should you wish to discuss any of the findings highlighted.




Industry Funds - Generation X

Friday, August 07, 2015


Through education especially over the last decade most people understand the importance of superannuation and trying to reach that nest egg for retirement. This financial literacy has seen the Gen X's pay more attention to super at a younger age than previous generations.

In saying that our business is seeing a massive hole in client's knowledge and understanding of what insurance cover held within their Industry Super Fund's. Our goal is for every one of our clients to implement a comprehensive Wealth Protection Plan, this designed to protect your pool of future earnings if a major health event were to take you out of the workplace.

Over the last 2 years we have seen a rapid increase in the cost of cover within industry funds, in some cases a 100-150% increase.

If you have one of the below funds we urge you to contact our office for an obligation free review:


Industry Fund Case Study

This was a recent case within our practice, the client has a young family and works in a manual trade. As you can see there is a significant difference in levels of cover against premium.

CBUS Super

Life $416,000
Total & Permanent Disablement $208,000
Yearly Premium $1,489

Our Recommendation

Life $1,220,000
Total & Permanent Disablement $1,220,000
Yearly Premium $1,313

Understanding of our superannuation has increased dramatically over the last decade. We hear the radio ad's telling us we can find your lost super, you should consolidate your super.

When I ask clients what insurance cover they have within their super - they struggle to tell me.


How much money do I need to retire comfortably?

Monday, July 06, 2015

How much is enough to retire on- “How long is a piece of string?”

The English language is a filled with wonderful idioms one of my favourites being the sub-title to this discussion. When it comes to the question of how much money one needs to be able to retire comfortably today there has probably never been a better answer except perhaps the old stalwart of the legal profession “it depends”.

The question is of course on what does it depend

The answer to this is simple; it begins with the kind of lifestyle you wish to have or maintain in retirement. 

  • Where you want to live, 
  • what you want to do, 
  • Right down to what you want to eat or drink. 

Of course you also need to build in a big enough buffers for uncertainties such as illness and the replacement of major lifestyle assets like cars and homes. 

It’s an intensely personal question and can only be answered through a structured process with a professional of thinking through what you really want and how this relates to what you are able to afford based on your assets and savings patterns.

That said one of the most important outcomes we look for when working with our clients is to ensure that they understand how the eventual move into retirement works in practical terms including how the various elements of our retirement system work together. This includes not only the personal wealth that they have accumulated in superannuation and other investments but how these relate to Government benefits and how you move from growing your wealth to living on your wealth. The all important question being how long what will you have accumulated in retirement last?

Often we find that working through the process with clients yields many surprises for them in terms of what they are able to afford to retire on when what they have accumulated with is pared with the available Government benefits.

With the full aged pension now set at $33,035 pa for a couple and $21,912.80 pa for a single home owner even with superannuation benefits of only $250,000, it is possible to enjoy a fully indexed income in retirement of around $48,200 per annum for 20- 27 years depending on investment performance etc, from a combination of your own resources and the aged pension. In the following table we have shown the potential income available to three retiree couples based on various levels of retirement wealth and assuming that they have a 20 year life span in retirement from aged pension age:-

Retirement wealth Annual income (Combined)


  Retirement Wealth Annual income (combined)
Couple 1  $250,000  $48,200
Couple 2 $500,000 $59,500
Couple 3 $1 Million $79,000

When it is considered that the above incomes will essentially be tax free and that many other valuable concessions are available to assist in retirement it is clear that a comfortable retirement is within reach of most Australians. The key element though is to plan early to accumulate as much as possible in the most efficient way over your life times and to understand how the financial aspects of retirement all fit together. When it comes to planning for the future you really need to guidance of experts.