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What is the truth about insurance?

Myths abound in Australia today about the insurance industry. Some of those myths are dealt with below:

Myth 1 - Insurance will never payout

On an annual basis in Australia, hundreds of millions of dollars worth of payouts are distributed by insurance companies. An example is the Insurer of BT Protection Plans who reportedly paid over $101 million in life insurance claims in 2010.

Myth…

The effects of the market on superannuation savings

Financial Planners in Sydney will probably agree that retiring during a slump in the market can mean that in a hypothetical scenario, what had been planned to last, say, 30 years may only last, say, 15 years. Superannuation planning is a way to help combat and protect your retirement funds from the largely unpredictable nature of the global and domestic market. An experienced Financial Advisor can…

Benefits of consolidation of super

The main benefit of consolidating your super into a single super fund is obvious – costs. The average Australian has their superannuation funds distributed amongst three providers – sometimes meaning three times the amount of account maintenance fees. Furthermore, most people little or limited knowledge about how their superannuation is being invested, what their current risk profile is and how…

The old age pension

The old age pension was introduced by the Federal government soon after federation and has been an integral part of many retirement plans since. Today’s pension is administered by Centrelink. To be eligible to receive the old age pension, there are a number of criteria that need to be fulfilled. That eligibility criterion includes but is not limited to:

  • Age - to be eligible to receive…

Increasing Retirement Wealth

Saving for retirement is essential, especially as Australians enjoy living long and healthy retirements. Meeting with a Sydney Financial Advisor is the first step. A Financial Planner can help you plan for your retirement based on your current financial situation, personal circumstances and retirement goals. The sooner you start developing strategies for your retirement, the higher the chance you…

Transitions to Retirement (TTR)

Most Financial Planners in Sydney know that legally reducing tax liability can be an incredibly powerful factor when it comes to saving for your retirement. Superannuation is just one tool that can help you save for your future. Another investment tool that has been made available through government legislation is the Transition to Retirement provisions, often referred to as a TTR. Many Sydney Financial…

Funds required for a comfortable retirement

The Association of Superannuation Funds of Australia (ASFA) has conducted a comprehensive research in order to determine the amount of money required per annum for a modest and comfortable retirement. Our Sydney Financial Planners summarise the ASFA’s findings as follows:

  • A modest retirement is defined as a retirement lifestyle that is an improvement on the Age Pension. It accommodates…

Australia’s Hidden Inheritance Tax

Australians have for years been falling victim to an undeclared inheritance tax. Under this regime, children and charities are only able to receive money set aside for them after the appropriate tax on same, has been paid.  Most experienced Sydney Financial Planners are familiar with the inheritance tax and the toll it can take.

Assets and money that are left to be distributed in a Will…

Property or Shares?

The argument over whether it is better to invest in shares or property has raged for decades and will continue to be argued for decades to come. At Navado Financial Advisors, our Financial Planners have learned over the years that it all comes down to the individual and personal situation. Whether it is better investing in shares or to have an investment home or investment property can only be answered…

Why use anything more than a savings account?

A savings account is normally the first type of investment that we are introduced to by our parents or in schools as children. As most Sydney Financial Advisors  know, savings accounts are normally a low risk way of growing your money, and while this is a fantastic way of learning about money, the simple fact is that it is a generally slow investment strategy. There are a diverse range of other…

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