Financial advice is general or personal advice about your financial position or lifestyle goals and needs. If you have questions about your financial health, feel free to contact us or get a quote.
This insurance protects you against any damage concerning your home and equipment, such as fire and/or theft .To know more, contact us or get a quote.
Key Tip: Lenders require this to ensure that they are protected.See our General Insurance page to get a quote
Landlord insurance protects your property against any damage caused by your tenant or any loss of revenue. The bond that your tenant has paid may not be enough to cover any damage that the tenant may have done to your property. Contact us for more details or get a quote.
Key Tip: The premium should be tax deductible.
Life insurance protects your family (or named beneficiary) against the loss of revenue resulting from your death or terminal/critical illness. Funeral expenses are also generally included. This insurance prevents monetary troubles that may result from an untimely accident or death.
There are only two certainties in life, “death and taxes”. You should plan for them both. All superannuation funds are meant to provide Life insurance. However, it is important to examine the benefit and whether it meets your financial needs in looking after your family’s future.
TPD insurance protects you against the loss of revenue, medical expenses and any life modifications resulting from a total and permanent disability.
All of us would hate the idea of being permanently disabled through an accident or health event. Being unable to do our favourite things, e.g. play sport and work. Therefore, ensuring you have sufficient insurance to cover this eventuality is important, as to be disable is one thing, but then to have the double hit in terms of having to sell assets to pay for ongoing medical and living expenses increases the impact.
Trauma insurance protects you against negative outcomes that may occur after a traumatic event. As we are all living longer there is the risk that we will suffer some major trauma event in our lives. According to newspaper reports someone in Australia has a heart attack every 24 minutes. If you smoke and drink and are overweight, then statistically you are a high risk category. Therefore, trauma insurance is a good option, as you are paid a lump sum benefit immediately which means you can wipe out all your debts, e.g. car and home loan in a single payment.
Key Tip: Trauma insurance is limited to the types of events that occur. So read carefully the policy to consider whether there are any exclusions that mean you are not covered. See our Trauma Insurance page.
Income protection insurance protects you from unexpected unemployment. It is important to understand the difference between Income Protection insurance and Workers' Compensation insurance. Employers are required by law to have Workers' Compensation insurance and it insurers the employer against work place events so if you are injured at work you will continue to be paid. The benefit is to the employer, not you. Your benefit runs out once you use up your sick leave, annual leave, long service leave and any leave without pay that you are entitled to take.
Whereas, Income Protection insurance is taken out by you to protect your income because you are out of work for a long period as a result of a health matter or an accident. The benefit is normally around 70-85% of your salary and it is paid regularly, e.g. fortnightly.
Car insurance can protect you against from unexpected car issues. Having the right insurance for your car is very important. Whether you need a third-party property insurance only, or comprehensive insurance, feel free to contact us or get a quote.
Key Tip: If you have children under the age of 25 and they use the car make sure they are named on the policy. It will help them in later years when they are taking out car insurance in their own name. It also means that there is no dispute if they have an accident and the insurance company queries the frequency of use by the under 25 driver.
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Equities are also called shares and stocks. Buying a share grants you partial ownership of the company. Companies are either private or public companies. Many public companies are listed on the Australian Securities Exchange (ASX) and their shares are bought and sold through a stockbroker. When buying equities, you have the opportunity to gain from the company’s future value and profits.
Key Tip: The historical long term Price Earnings Ratio for the ASX is 13/14. If a company’s PE is greater than this then the share is expensive. There are many other ways that shares are valued, so please consult your adviser.
An Australian bond is a contract in which you loan money to either the Australian government or an Australian company. You receive predetermined interest payments/coupons for the agreed upon amount of time.
Key tip: Generally higher rated bonds, e.g. AAA have a lower yield, than lower rated bonds, e.g. BBB. This reflects the credit risk of the bond issuer (company).
This is an investment in international companies by purchasing their shares. In addition to the risk of the company failing there is also currency risk and political risk to consider. Transaction costs are usually higher.
Key Tip: Use an expert in this area.
As for Australian bonds, except for international companies or governments. In addition to the risk of the company or government failing there is also currency risk and political risk to consider.
Key tip: Use a bond market expert.
Property is a real estate investment. It could be residential, retail, industrial or commercial property.
Key Tip: Land tax is often a forgotten when assessing the viability of the investment.
Commodities are any marketable product and services you can invest in e.g. gold, cereals, oil etc.
Key Tip: Most commodities do not have an income stream, i.e. there is no dividend or interest income, the investment is for capital growth only.
Private equity is an asset composed of equity securities and debt from non-publicly traded companies. Contact us for more details.
Key Tip:There is a lot of secrecy. Make sure you understand the fees and commissions.
An insurance bond is a medium or long-term investment product creating wealth through tax-effective life insurance. Contact us for more details.
Key Tip:The income is generally free. An investment tool often used to pay for a child’s future secondary or tertiary education costs.See our Investment page for more information or make an investment enquiry .
Estate planning is the managing process of dividing a person’s estate.
This is a difficult subject to discuss, because no healthy person wants to die. The human spirit is strong and life is wonderful. However, as the saying goes there are only 2 certain things in life “death and taxes”.It is important that you update your Will, but that is only part of the story. To stop arguments between family members and others after you die it is important to discuss your Will with all major beneficiaries. If you explain the reason why you are planning your estate as you do, it can resolve any potential issues before you die. This also has the added benefit that courts are less likely to interfere and amend your Will. Contact us for more details.
Key Tip:Be honest and transparent with your family members about your intentions.
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