superannuation women

Don’t accidentally lose your life cover

Don’t accidentally lose your life cover

For some people, the life and permanent disability insurance they hold within their super fund is the only life insurance they have.  They may be unaware that this insurance may be cancelled by their super fund, without their explicit consent on 1st July this year. The change in rules has come about because the government is concerned about the erosion of members’ super balances due to fees and charges for things they don’t need or

3 Steps to overcome financial overwhelm

3 Steps to overcome financial overwhelm

There is a line in a Dr Seuss book: “And this mess is so big And so deep and so tall, We cannot pick it up. There is no way at all!”.  It describes that feeling of overwhelm, when the problem at hand just seems insurmountable.  Unfortunately for those suffering from financial overwhelm, the situation often results in indecision and inaction which can ultimately make things worse. If you are struggling to get traction in your

When No plus No can equal Yes

When No plus No can equal Yes

Being originally from England, I am not unhappy with the use of double negatives (did you see what I did there?). I have since learned however, that as well as enabling the mastery of understatement, a double negative can also be used as a very effective decision making tool. It is quite easy to identify the benefits of something by looking at how things will be better if you do it or buy it.  If

Financial Advising with positive intent

Financial Advising with positive intent

I recently wrote about how clients of financial advisers can ask questions to test for conflicts of interest around their advice relationship.  Reflecting on it since, my thoughts have now turned to exploring all the positive qualities that un-conflicted advisers can bring to their client engagements. Doing this has taken me back to what it was that attracted me to financial planning as a profession in the first place (for those that don’t know me,

Property investing and the value of professional advice

Property investing and the value of professional advice

I usually try to keep my ranting on my blog to a minimum, but I have been so saddened by the story of the 71 year old lady from WA who is faced with losing her home to a high risk investment strategy that was probably never appropriate for her (ABC report here). Over a number of years, on a nurse’s wage,  she has amassed 11 investment properties (in addition to her home), owes over

5 reasons people give for not planning their finances

5 reasons people give for not planning their finances

Have you been putting off sorting out your personal finances?  If you have, you are not alone. It is not always acknowledged in financial planning that our relationship with money is laden with family baggage, regrets for missed opportunities and worries for the future.  Denying the psychological and behavioural aspects of how we feel and make decisions about our finances is missing half the experience.  Like watching an action movie without the background music. As

Women and Super

Women and Super

I was recently having a chat over coffee with a group of other Mums in business (truthfully I was doing a bit of market research) and I asked them if they felt that they had less super savings than they should have considering their ages and stages.  A conversation then followed about the gender pay-gap, taking time out of the workforce to raise a family and finding yourself sole breadwinner due to either illness or

Self Employed – Don’t neglect your super

Self Employed – Don’t neglect your super

When you are in business for yourself you very much have all your eggs in one basket.  You are investing in your own success and putting your money where your mouth is.  There is no employer to look after your payroll admin, no employee benefits, sick pay or long service leave.  There is probably no Superannuation Guarantee. All consuming as running a small business is, it is still important to take the long term view

Financial Advice is Good For Your Health

Financial Advice is Good For Your Health

A newly published piece of research claims that people who receive advice about their finances have higher levels of health and well being. Confident though I am in the value of good advice, this seemed a bit like a magic bullet to me.  On closer inspection it seems that it is not just simple cause and effect. The missing link is that the process of getting assistance from a financial planner increases the recipient’s financial

Reduce the mortgage or contribute to super, that is the question

Reduce the mortgage or contribute to super, that is the question

Out of the blue you receive a cash windfall, it is a decent amount and definitely extra above what you need to meet your normal living expenses. You decide not to blow it on some luxury treat for yourself and to put it to use to improve your financial situation. But which would be the best choice, put it into the mortgage, or into super? The answer, as with most things in financial planning, is