Decoding Financial Success for Business Owners: The 10 Factors You Need To Know
When over 60% of small businesses face financial challenges stemming from poor financial management practices, bad wealth management advice, overwhelming debts and other factors, how can you work towards ensuring the financial health of your business and your future?
Leveraging a Family Trust as an Estate Planning Tool
Estate planning is a critical aspect of financial management, ensuring that assets are preserved and distributed according to one’s wishes after death. Among the broad option of estate planning tools available, a family trust stands out as a versatile and effective mechanism for safeguarding wealth and providing for future generations. Understanding how to utilise a family trust in estate planning is possible for individuals seeking to protect their legacy and provide for their loved ones. Here are a number of considerations for establishing a family trust for estate planning purposes:
Understanding Family Trusts
In the realm of financial planning and asset management, the term “family trust” often emerges, presenting itself as a crucial tool for safeguarding wealth and securing the interests of loved ones. But what exactly is a family trust, and why do individuals opt for this financial structure?
Taking a break from business: A sabbatical experience
Join us on a captivating journey as we explore Phillip Win’s inspiring three-month hiatus from his role as Managing director and owner of Profile Financial Services. During this time, he disconnected from work, schedules and the news, dedicating it to self-discovery.
The 25% retirement rule you need to know!
What is the 25% retirement rule? The 25% retirement rule is an indicator of how much money you may need to save for your retirement. It is based on an assumed withdrawal rate of 4% of your savings in the first year of retirement, with all future withdrawals indexed...
Tech wealth unlocked: financial considerations engineered for tech professionals: part 5
Welcome the final part of our limited series on the unique financial landscape that is a career in information technology and the top 6 financial considerations employees in this sector need to consider. Throughout this series we have explored cashflow management, diversification, tax minimisation and employee share ownership schemes, and now we dive into the last two considerations: career volatility and tax residency.
Tech wealth unlocked: financial considerations engineered for tech professionals: part 4
In the penultimate article of our limited series on the unique financial landscape that is a career in information technology we explore one of the biggest financial considerations shared by this sector: Employee Share Ownership Schemes. If you’ve missed any of our previous articles, simply click on the relevant topic to view it: cashflow management, diversification, tax minimisation.
Tech wealth unlocked: financial considerations engineered for tech professionals: part 3
This insightful article is the third installment of our limited five-part series which explores the unique financial landscape that is a career in information technology and uncovers some wealth management strategies that will help you do more with your money.
Tech wealth unlocked: financial considerations engineered for tech professionals: part 2
Welcome to part two in our special five-part series which explores the unique financial landscape that is a career in information technology and uncovers some wealth management strategies that will help you do more with your money.
Tech wealth unlocked: financial considerations engineered for tech professionals
Quite often, tech professionals are high-income earners with a surplus of funds, but a dearth of time to manage their money due to their demanding careers. Whilst being busy is not the sole domain of tech professionals, when you factor in financial elements that are unique to their situation such as earnings fluctuations, employee share ownership schemes, employment volatility and more, it becomes clear that the financial fallout of not proactively managing money can be quite detrimental.
Unlock your financial success as an IT professional: a tale of empowerment
As a financial adviser based in Sydney, Australia, my role is to help clients navigate the intricate world of finance and investments. Recently, I had the privilege of assisting a client who is an Information Technology professional in making a strategic move to purchase additional employee shares at a reduced rate while simultaneously selling the same number of shares of vested RSUs (Restricted Stock Units). This is a success story that highlights the importance of sound financial advice and the potential benefits it can bring to individuals in the tech industry.
When did the retirement age increase and why?
From 1 July 2023 the ‘retirement age’ increased to 67 years. In this article we delve into the reasons for this change and the consequences.
Consistency is key to comfort: a client Q&A
Jock Kelso started from humble beginnings and is now a retired radio advertising executive. With his lovely wife Dot, they have a family and lived in Sydney while Jock worked for various top radio stations and was Sales Manager at Radio 2UE Sydney. He describes these years as an incredible buzz, but could see that going onto senior management was not his forte, so instead decided to go out and set up his own company, MediaMart. During his career he managed radio advertising campaigns for numerous big name household brands. Jock and Dot, his wife of 52 years, now live a comfortable and envious retirement.
Navigating the current interest rate environment
The current interest rate environment is challenging. Australia’s cash rate has risen 12 times from .10% back in April 2022 to 4.10% in June 2023 – an increase of 4.00%. With the RBA remaining steadfast to its inflationary target to ensure inflation does not become entrenched, the likelihood is of more pain before some light on the horizon. As finance and mortgage brokers we are assisting mortgage holders through this time and wanted to share some guidance and tips for consideration.
How to design your ideal retirement in six steps
Here we will explore essential steps to take before you retire, helping you build a clear vision of your post-retirement life and ensure that you have the financial means to enjoy it to the fullest and embrace retirement with confidence. Whether you aspire to travel the world, indulge in hobbies, or simply relish quality time with loved ones, taking these proactive measures will lay the foundation for a rewarding and worry-free retirement journey.
How much super should you have in your 50’s?
As financial advisers, one of the biggest questions we get asked is how much individuals should have in their superannuation account at a certain age. It is essential to consider that each person’s situation may vary. The amount you should have in your super fund in your 50s can vary depending on various factors, including your retirement goals, lifestyle expectations, and current financial situation.
How much super should you have in your 40’s?
Welcome to the exciting world of superannuation planning! As you reach your forties, it’s natural to ponder how much superannuation you’ll need for a comfortable retirement. Don’t fret; we’re here to guide you through this financial adventure.
How much super should you have in your 30’s?
Although retirement may seem distant when you’re in your 30s, taking proactive steps and being aware of your super balance during this stage can have a profound impact on your future financial security. In this article, we will discuss the recommended superannuation balance for individuals in their 30s. However, it is essential to consider that each person’s situation may vary, and these figures should be viewed as a general guideline.
How much do you need to retire comfortably in Australia?
There are many rules of thumb orbiting the world wide web like 10 to 15 times your annual salary, but my experience suggests that the more work you put into thinking about what you would like your retirement to look like, the more accurate your target retirement capital will be.
How do retirement plans work?
A practical retirement plan entails much more than a superannuation account or two and this article will take you through several important retirement planning considerations that go above and beyond accumulating superannuation.
