Should you downsize to boost your super? Pros, cons, and tax implications

Should you downsize to boost your super? Pros, cons, and tax implications

The idea of downsizing can be very appealing to empty-nesters. There will be less cleaning, gardening and maintenance, more time for hobbies and travel, and the icing on the cake comes if you can use the cash surplus you created to give your super a significant tax-effective boost.

But is the picture totally rosy, or are there some drawbacks to downsizing?

The Hidden Cost of Lifestyle Creep – why upgrading your lifestyle too quickly can slow down long-term goals.

The Hidden Cost of Lifestyle Creep – why upgrading your lifestyle too quickly can slow down long-term goals.

It is natural to want to enjoy the rewards of hard work. A new job, a pay rise, or a bonus can make it tempting to upgrade your car, move to a bigger house, or start spending more on dining and holidays. This is called lifestyle creep, and while it feels good in the short term, it can quietly slow down your long-term financial goals.

Smart Ways to Use Your Tax Refund This Year

Smart Ways to Use Your Tax Refund This Year

You may be one of many Australians who make an interest-free loan to the federal government every year. That’s because, when you receive a tax refund, you’re not getting free money. All that’s happening is that cash which is rightfully yours is being returned, somewhat late. So it makes sense to make it work as hard as possible once it’s back in your hands.

How to start investing with just $500

How to start investing with just $500

When you have a spare $500 and are wondering whether to spend it or save it, why not consider a third option?
Invest it. Make a commitment to your financial future, instead of wasting it on purchases that will deliver only temporary pleasure.
Invest that $500 and watch it grow. Here’s how.

Juggling Two Jobs? Watch This Gap

Juggling Two Jobs? Watch This Gap

Brie is a 30 year old who, like about 7% of working Australians, has two jobs: her main job is as a learning support assistant at a primary school, where she works about 30 hours a week, and she also works one night a week as a disability support provider. Brie earns $1,760 a week from her main job, and $600 a week from her second job, totalling $2,360 a week. 

What happens to my superannuation if…? 

What happens to my superannuation if…? 

A client once shared a poignant regret:
“When I was working and the kids were young, I saved too much. It restricted what we did when the family was together.”
This simple reflection struck a chord with me. It got me thinking about the delicate balance between saving for the future and living fully in the present. While we all know the importance of financial security, is it possible to save too much—at the expense of the moments that matter most?

Numbers vs. Emotions: The Real Game of Investing   

Numbers vs. Emotions: The Real Game of Investing   

When people think about investing, they often focus on the numbers: analysing balance sheets, forecasting earnings growth, understanding sectors, and evaluating dividend yields and price-to-earnings ratios. While these elements are…

Your super: A scammer’s new target

Your super: A scammer’s new target

In a recent media release, the Australian Securities and Investments Commission (ASIC) warned about a new scam doing the rounds. Scammers attempt, through cold calls to superannuation savers, to extract…

Get ready for June 30 now!

Get ready for June 30 now!

When it comes to getting the most (money) from your annual tax return, there is usually a lot to think about, so we’ve identified a few options that could open…

The challenges of being a Carer

The challenges of being a Carer

Caring for a loved one can be deeply fulfilling but brings its fair share of challenges too – as Laura discovered.   When her mother Shelly had a stroke, she didn’t…

Your recession survival guide

Your recession survival guide

In the ever-fluctuating world of economics, recessions are an inevitable part of the financial cycle.   While they can be daunting, understanding their nature and preparing for their impact can make…

Retirement wrongs that could send you broke!

Retirement wrongs that could send you broke!

While retirement should be the best years of your life, many Australians make simple, avoidable mistakes with their finances that can leave them without the funds to really enjoy life….

Quarterly Economic Update: April-June 2022

Quarterly Economic Update: April-June 2022

The price of a lowly head of lettuce has never been a recognised barometer of the strength of the Australian economy, that is until the media started reporting iceberg lettuces…

End of content

End of content