Downsizing during retirement can help you reduce costs and put some more money in your pocket so that you feel more secure about your finances during retirement. Downsizing by selling your property has advantages and disadvantages, which you should evaluate before making this decision. Advantages Increased cash flow: Downsizing should reduce your mortgage payments and…
A Binding Financial Agreement (BFA) is the Australian equivalent of a prenup, covering financial settlement, spousal maintenance and any other incidental issues. BFAs are used to agree in advance on how a couple’s property and other assets would be distributed should their marriage or de facto relationship break down. They can be entered into at…
When it comes to investing, there is always a certain amount of risk involved. The key to a great investment strategy is to discern how much risk you are willing to take. The risk profile of your superannuation investment strategy should be determined by combining your financial goals and the time frame in which you…
Since superannuation contributions come in several forms, SMSF members would be wise to understand what contributions are available and how they might impact them regarding the contribution limits. The ATO considers a ‘contribution’ as anything of value that increases the capital of a superannuation fund provided by a person whose purpose is to benefit one…
