For many people, the end of the year represents a time to give gifts to show their appreciation of their family and friends. It’s also a good time to give to those less fortunate. Here are some tips on smart giving.
Last year, more than six million consumers – one in three Australian adults – fell victim to identity theft, credit card fraud or had their passwords compromised. This cost the Australian economy more than $2.3 billion, and, at an individual level, cost each victim an average of approximately $195 and 16.2 hours (or more than two business days) to rectify.
We explain two common traps that you should watch out for and how to protect yourself online.
The number of people aged 65 and over in Australia is projected to more than double, to 8.8 million, over the next 40 years. This will undoubtedly increase the need for aged care in the community and put pressure on families and Government funding.
In Australia, the Government subsidises different types of aged care services to cater for older peoples’ needs and to support their carers – usually their family. This is a sensitive and complex area, and for more and more Australians is a decision they will need to make for themselves or a family member in the future. It makes sense to understand the process and plan ahead to ensure you and your family members receive the care they need, when they need it.
A power of attorney is a legal document that allows you to nominate someone you trust to make financial decisions on your behalf if you are unable to do so.
From the time they’re learning to crawl, parents begin teaching their children about right and wrong, personal safety, manners and morals.
It’s not just about spending
Children see their parents spend money, on one thing or another, most days. However, teaching children about important, less visible money skills such as earning, saving and investing will have a profound impact on their attitude to money in the future.
Giving children the skills to control their finances is not only beneficial to their financial wellbeing – it also contributes to the forming of their personality and unique attributes. The lessons on self-control, resourcefulness and sharing are all valuable in shaping a well-rounded, socially aware and responsible person.
Portfolio re-weighting is an essential risk management process that every investor should use.
But what is portfolio re-weighting and why should you do it?
A blended family can have a huge impact on your finances — whether it’s buying a home with our new partner or ongoing child support. But, one of the most important areas that is often overlooked, is the impact of a newly formed family structure on your estate plan.
One of the biggest concerns is making sure your family fortune doesn’t end up solely with your step-children and leave your children without an inheritance. A fair solution means your wishes are less likely to be challenged and your beneficiaries are left stress-free.
Whether you’re buying your first home or you’re ready to downsize, you may be able to use your super to help make the most of your money. These two new schemes support the Government’s goal of reducing pressure on housing affordability in Australia.
As a parent or grandparent, one of the best things you can do is give your child or grandchild a good education. But what if you weren’t around to help make it happen? Fortunately, you can put plans in place in your Will to make sure your children’s or grandchildren’s inheritance goes towards their education.