Latest Posts: Consortium Private Wealth Blogs
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Unlocking the mysteries of your super statement
Superannuation statements. Boring, right? But if, like many people, you toss your annual super statement in a drawer or hit delete, you could be depriving yourself of many thousands of dollars just…
Building financial resilience
Resilience is the ability to quickly recover from setbacks, and while setbacks can come in many forms most of them will have a financial component. So what can you do to build financial resilience?…
6 steps to a sustainable Christmas
Just as the Grinch stole Christmas, excess spending can rob us all of yuletide happiness. Seasonal credit card splurges can create ballooning long term debt, while unnecessary consumption inevitabl…
Investing: How to reduce concentration risk
Concentration risk. No, it’s nothing to do with thinking too hard about something. In fact, it’s more likely to be a result of not paying enough attention.
Concentration risk is the increase in in…
Economic Update: July-September 2021
COVID here to stay
The third quarter of the calendar year brought with it the third and by far the biggest wave in COVID-19 infections. Largely restricted to NSW and Victoria the outbreak was driv…
Who gets your super?
Who decides what happens to your superannuation savings when you die?
You may think that you do, but that isn’t always the case. The ultimate decision may be made by someone you don’t even know – …
DIY insurance – is it right for you?
Research shows that Australians are underinsured which has led to the proliferation of television advertisements promoting personal insurance cover. Are these quick and easy plans suitable for your…
Giving the gift of investing
Did you have a savings account when you were young? It wasn’t uncommon and those old Passbook accounts funded many a first car. Now you’re a parent, are you thinking of opening an account for your …
Mistakes new investors should avoid
You’re young, expecting a satisfying future brimming with friends, family and a comfortable lifestyle.
You’re a Next Generation Investor, likely aged between 18 and 25, and you’re starting to thin…
Personal Insurance FAQs
Personal insurances are designed to provide protection from the financial consequences of death or disability. They therefore form an important part of most financial plans. Here, in brief, is how …
Economic Update: April-June 2021
Employment surprise
JobKeeper was a cornerstone of Australia’s response to the coronavirus pandemic. It provided millions of Australians with an ongoing income and kept thousands of businesses afl…
When was the last time you paid cash?
Prior to COVID, we were steadily moving towards a cashless world. Post 2020, even the most resilient of us has made the leap to tap-and-go payments sooner than we expected.
From the morning coffee…
EOFY is coming – Have you thought about …
The end of another financial year is looming, and with that may come thoughts about your tax return and how your wealth has tracked throughout the year. Whether you’re nearing retirement, a high-in…
What does a good financial adviser do?
Some people may think that a financial adviser’s role is to forecast the direction of the share market from month to month and invest clients’ money accordingly.
This is not the reality, of course…
Can you afford to retire early?
Many Australians caught in the nine-to-five grind of working for a living, dream of the possibility of taking early retirement and spending their days travelling or playing golf or doing nothing mu…
Working from home? How to boost your next tax return
With the range of technology and software available today, it’s become easier than ever to work from home. Employees can efficiently complete calls using teleconferencing software, many collaborati…
Six super hacks to retire richer
While it’s easy to be discouraged by superannuation and fear you will never have enough money saved to stop working, remember even a modest superannuation balance can make a big difference in retir…
Quarterly Economic Update: January-March 2021
The global COVID-19 jab-fest gathered pace with some countries, including Israel and the United Kingdom, achieving high rates of immunisation. However, the rollout has had some issues. Rare side ef…
It’s not too late for super planning in your 60s
For most Australians, their 60s is the decade that marks retirement. For some this means a graceful slide into a fulfilling life of leisure, enjoying the fruits of a lifetime of hard work. However,…
Push the super pedal down in your 50s
If 50 really is the new 40, then life has just begun. The kids are gaining independence or may have left home, and the mortgage could be a thing of the past. Bliss. But galloping towards you is… re…
It’s time to get focused on super in your 40s
Typically your forties is a time of established careers, teenage kids and a mortgage that is no longer daunting. There are still plenty of demands on the budget, but by this age there’s a good chan…
Pay attention to super in your 30s
If you are in your 30s, chances are life revolves around children and a mortgage – not super. And as much as we love our kids, the fact is they cost quite a lot. As for the mortgage, this is the ag…
Super in your 20s: Boring? Doesn’t have to be!
Superannuation is for the oldies, right? In some ways that’s true, but even in your twenties there are good reasons to take a bit more interest in your super. The average 25-year-old has around $10…
Three steps to your children’s financial success
For many of us, our first experience of banking and savings was the school Savings Account Program. But in 2019 the Australian Securities and Investments Commission (ASIC) raised concerns that thes…
Economic Update: October-December 2020
COVID-19 update
Finally, some good news on the COVID-19 front: several vaccines have been rolled out in a number of countries. While a huge step forward in bringing the pandemic under control, it c…
Market crashes: The good, the bad and the ugly
Just as night follows day, it seems part of the regular cycle of the world’s share markets that market crashes and falling prices follow good times and rising prices.
The impact of the COVID-19 Glo…
Why seeing a financial adviser could be your best Xmas gift
The run-up to Christmas is usually a hectic time. Aside from the shopping and Christmas parties, there are deadlines to meet, loose ends to tie up and, for many farmers, the last of the crop to har…
How does Australia’s pension plan stack up?
One in six people will be over 65 years old by 2050. With the world’s population ageing quickly, it is natural to think about how pension systems around the world will cope, particularly in Austral…
Super success for women
While women earn less and spend less time in the workforce than men, sharply reducing their super contributions throughout their working lives, there are some simple steps women can take to boost t…
Turbo boost your retirement savings
Once your mortgage and other financial commitments are manageable, it is usually time to put the pedal down on your super. Those prime income years, between age 40 and 50 in particular, should be u…
What is money… really?
That $50 note in your pocket. What’s it worth? “$50,” you say, probably thinking it’s a dumb question. But is it really? Or a sheet of plastic and a bit of ink that likely cost the note printer les…
Quarterly Economic Update: July – September 2020
COVID-19 remained the big story of the last quarter. Tragically, by the end of September the pandemic had caused over one million deaths. That was up by 500,000 since the end of the previous quarte…
Reviewing your insurance as you get older
So, you are seriously starting to think about your retirement. The kids are finally more independent, the mortgage is less than it was, and the super is more than it was.
You look at your monthly b…
Positioning your portfolio in turbulent times
As any experienced investor knows, all investment markets have their ups and downs. Regardless of investor experience, turbulent times are a cause of anxiety, and that can lead to poor decision-mak…
Unlocking financial secrets for different phases of life
One of the keys to financial success is to adopt the right strategy at the right time. As you move through the stages of life, here are some tried and tested ‘secrets’ that will help you build and …
Are you investing or gambling?
The potential financial results of investing can feel limitless, and it can be tempting to think that just one stock pick could make you an overnight millionaire. Yes, stock-picking can have a plac…
Get your super together and save
If you have had different jobs with different employers over your working career you will probably have superannuation accounts in many different funds. Apart from the time it takes to keep track o…
What will you do with your tax refund?
Thousands of Australians receive tax refunds every year. Some refunds won’t even cover the cost of a pizza to celebrate, however many are quite substantial. If you’re one of the lucky ones, what wi…
COVID-19 Economic Update
During the last quarter one story has dominated the news – COVID-19. By the end of June at least 10 million people had contracted the disease, and over 500,000 had died. With 8,000 cases and 104 de…
Investing 101
Whether it’s taking a more active interest in our superannuation, starting to build an investment portfolio, or even trying our hands at playing the stock market, we…
What to consider when withdrawing your super early
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As the COVID-19 virus took a sledgehammer to the economy, the federal government rapidly introduced a range of initiatives to help individuals who lost i…
Shares are more than numbers
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Whether it’s by direct purchase, via a managed fund or through superannuation, most Australians hold some form of share investment. Many of us are aware …
When an SMSF may be the wrong idea
Since the Australian Government introduced compulsory employer contributions to people’s superannuation funds in 1992, Australia’s funds invested in super have grown to $3 trillion. In this time, s…
Your wealth during the COVID-19 pandemic
There isn’t a single person in the world who hasn’t been impacted by COVID-19. As new case numbers start to slow in Australia, so too is our economy. This time presents new challenges as everyone g…
5 ways to benefit from record low interest rates
Interest rates have never been lower, and it’s possible they might fall even further. This creates opportunities for householders and businesses, so how can you best take advantage of low interest …
Economic Update: First quarter results reflect shock
The first quarter of 2020 will forever be remembered for delivering one of the greatest health and economic shocks of all time. The economic damage was an inevitable consequence of governments worl…
The upside of a market downturn
Most people view share market downturns as unequivocally bad events. Suddenly, hard earned savings aren’t worth as much as they were yesterday. It seems as if our money is evaporating, and in the h…
The true cost of a pandemic
Recent events such as the coronavirus outbreak, bushfires across Australia and the drought highlight the far-reaching effects of an epidemic. Following the initial devastation of these events, the …
4 financial resolutions to kick start the New Year
The dawn of a new year sees many people setting new year’s resolutions such as losing some weight or giving up smoking.
Similarly, the beginning of a new year is the ideal time for setting financi…
5 ways to benefit from record low interest rates
Interest rates have never been lower, and it’s possible they might fall even further. This creates opportunities for householders and businesses, so how can you best take advantage of low interest …
Being sensible with Buy Now Pay Later this silly season
Move over debit and credit cards; consumers are flocking to Buy Now Pay Later (BNPL) services. Afterpay, Zip Pay and several similar payment solutions allow shoppers to take home their goodies now …
Financial Advice, Royal Commission and You
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry delivered its final report in February 2019, capping off a process that revealed the unethical an…
Making the most of low interest rates
Banks have not been passing on the full reduction in the Reserve Bank’s official cash rate, but no one knows with any certainty, what the future holds for rates and to what extent.
Most prediction…
Tap into the amazing power of compounding
When you invest over a period of time, compound interest is your best friend. In effect, it means you are earning interest not just on your own capital, but also on the interest you’ve already earn…
Millennials & Money – your unique needs
If you entered the world between 1980 and 1996 you’re part of the “millennial generation”. You’ve grown up in an age of unprecedented abundance and incredible technical innovation, and as a group, …
Five reasons to refinance your home loan
Many people treat their home loan as a set-and-forget, riding out whatever the original loan terms and prevailing interest rates dish up. They may be doing themselves a disservice, as there are sev…
Insurance: Inside or outside Super?
Most people can choose to own life insurance themselves or to hold this insurance in their superannuation fund. But it’s not a simple decision – the way these policies operate and are taxed may var…
Trauma insurance fills the gaps
According to an Australian Bureau of Statistics report published in September 2018, cancer is the most common cause of death in Australia accounting for more than 29,000 fatalities in 2017.
Incredi…
A good financial planner is your best asset
Financial planning is about establishing a long-term strategy to secure your financial future with the lifestyle and living standards you desire.
‘Value’ often goes beyond dollars and cents. It can…
Tax rules do not treat all income equally
Anyone who has completed their own tax return will know that the tax office treats different types of income differently. Bank interest is recorded in one section, dividends from shares in another …
How much do I need to start investing?
Far from being the realm of the rich, building an investment portfolio is something that most people can do. It can start as a simple savings plan – a few dollars in the bank – before expanding int…
Frequently asked questions about Super
If the ins and outs of superannuation leave you confused, the answers to these frequently asked questions will help you understand the basics.
How much do I need to retire?According to the Associat…
Personal Insurance FAQs
Personal insurances are designed to provide protection from the financial consequences of death or disability. They form an important part of most financial plans. Here, in brief, is how they work….
6 common financial mistakes people make in their 30s
Climbing the career ladder, perhaps buying a home and starting a family – the 30s are an exciting stage of life. However, decisions made now can make a big difference to future financial wellbeing,…
6 common financial mistakes before retirement
Many of us would like to think that ‘older’ means ‘wiser’, but when it comes to money that isn’t always the case. The complexity of Australia’s superannuation system doesn’t help. The upshot is tha…
Financial advice is not the same for everyone
Investment planning is an important part of financial planning but underpinning the whole process of creating wealth in the first place is having a good financial strategy. For many people that str…
Retirement: it’s time to get busy living!
Many people eagerly anticipate retirement. Others view its approach with trepidation, worried over how they’ll fill their days.
Australians are living longer; it’s not unreasonable to assume you’ll…
Making interest-free deals work for you
They have been around for decades, but interest-free deals can still be confusing and costly when not managed correctly.
Excitable advertising can make these offers almost too good to refuse, parti…
Does the value of the Aussie dollar affect you?
You might think that only importers and exporters pay attention to the value of the Aussie dollar, but movements in the exchange rate affect us all.
After peaking at US$0.81 in late January 2018 th…
What can you tell your employees about Super?
It’s a common question asked by employees: “what should I do about my super?” If you are an employer or manager and feel confident of your knowledge of superannuation and investment, it can be temp…
To gift or not to gift
With Australia’s age pension being subject to an assets and income test, a simple way for part-pensioners to increase their pension payments is to give away some assets.
Not surprisingly the govern…
Switch and save
When developing a budget, it’s easy to think that you have no control over costs for essential items such as electricity, particularly when every bill seems to be higher than the last. But if you l…
Navigating the loan maze
When choosing the right type of loan to suit your needs now and into the future, there are many factors to consider.
What is the purpose of the loan?
Credit cards provide immediate access to credit…