Pollock Financial Planning

15/02/2023

𝐂𝐎𝐒𝐓 𝐎𝐅 𝐋𝐈𝐕𝐈𝐍𝐆 𝐭𝐨𝐩𝐬 𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚'𝐬 𝟐𝟎𝟐𝟐 𝐖𝐨𝐫𝐫𝐲 𝐋𝐢𝐬𝐭 🧾💳🥴

Petrol prices. Electricity hikes. Food costs. High inflation. Property slumps and a spate of interest rate increases...

It's no wonder you've been feeling the pinch lately, and you are not alone! 💲🧓👩‍🦳💲

The Ipsos Issues Monitor shows F̳O̳U̳R̳ of the top F̳I̳V̳E̳ public worries in December were financially related.

"𝘛𝘩𝘦 𝘤𝘰𝘴𝘵 𝘰𝘧 𝘭𝘪𝘷𝘪𝘯𝘨 𝘸𝘢𝘴 𝘳𝘢𝘯𝘬𝘦𝘥 𝘢 𝘵𝘰𝘱 𝘤𝘰𝘯𝘤𝘦𝘳𝘯 𝘣𝘺 58 𝘱𝘦𝘳 𝘤𝘦𝘯𝘵 𝘰𝘧 𝘳𝘦𝘴𝘱𝘰𝘯𝘥𝘦𝘯𝘵𝘴, 𝘵𝘩𝘦 𝘩𝘪𝘨𝘩𝘦𝘴𝘵 𝘴𝘩𝘢𝘳𝘦 𝘰𝘧 𝘢𝘯𝘺 𝘪𝘴𝘴𝘶𝘦 𝘪𝘯 𝘵𝘩𝘦 12-𝘺𝘦𝘢𝘳 𝘩𝘪𝘴𝘵𝘰𝘳𝘺 𝘰𝘧 𝘵𝘩𝘦 𝘴𝘶𝘳𝘷𝘦𝘺. 𝘛𝘩𝘦 𝘦𝘤𝘰𝘯𝘰𝘮𝘺 (33 𝘱𝘦𝘳 𝘤𝘦𝘯𝘵), 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 (31 𝘱𝘦𝘳 𝘤𝘦𝘯𝘵) 𝘢𝘯𝘥 𝘱𝘦𝘵𝘳𝘰𝘭 𝘱𝘳𝘪𝘤𝘦𝘴 (22 𝘱𝘦𝘳 𝘤𝘦𝘯𝘵) 𝘸𝘦𝘳𝘦 𝘢𝘭𝘴𝘰 𝘢𝘮𝘰𝘯𝘨 𝘵𝘩𝘦 𝘣𝘪𝘨𝘨𝘦𝘴𝘵 𝘸𝘰𝘳𝘳𝘪𝘦𝘴."

https://www.smh.com.au/business/the-economy/the-year-of-living-costs-financial-pressures-top-australia-s-worry-list-in-2022-20221228-p5c942.html

𝐈𝐟 𝐲𝐨𝐮 𝐚𝐫𝐞 𝐜𝐨𝐧𝐜𝐞𝐫𝐧𝐞𝐝 𝐚𝐛𝐨𝐮𝐭 𝐲𝐨𝐮𝐫 𝐜𝐚𝐬𝐡𝐟𝐥𝐨𝐰 𝐡𝐞𝐚𝐝𝐢𝐧𝐠 𝐢𝐧𝐭𝐨 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭...

𝐆𝐢𝐯𝐞 𝐮𝐬 𝐚 𝐜𝐚𝐥𝐥 𝐨𝐧 𝟎𝟕 𝟑𝟑𝟓𝟎 𝟏𝟐𝟓𝟓 𝐭𝐨 𝐟𝐢𝐧𝐝 𝐨𝐮𝐭 𝐡𝐨𝐰 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐩𝐫𝐞𝐩𝐚𝐫𝐞 𝐭𝐨 𝐛𝐞 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐫𝐞𝐚𝐝𝐲 𝐚𝐧𝐝 𝐥𝐢𝐯𝐞 𝐲𝐨𝐮𝐫 𝐛𝐞𝐬𝐭 𝐥𝐢𝐟𝐞. 🏌️‍♀️⛳️⛵️🎣

https://www.pollockfinancialplanning.com.au

25/01/2023

𝙎𝙤 𝙮𝙤𝙪 𝙘𝙖𝙣 𝙢𝙖𝙞𝙣𝙩𝙖𝙞𝙣 𝙘𝙤𝙣𝙩𝙧𝙤𝙡 𝙖𝙣𝙙 𝙞𝙣𝙙𝙚𝙥𝙚𝙣𝙙𝙚𝙣𝙘𝙚 𝙖𝙨 𝙮𝙤𝙪 𝙢𝙤𝙫𝙚 𝙞𝙣𝙩𝙤 𝙮𝙤𝙪𝙧 𝙡𝙖𝙩𝙚𝙧 𝙧𝙚𝙩𝙞𝙧𝙚𝙢𝙚𝙣𝙩 𝙮𝙚𝙖𝙧𝙨, 𝙡𝙚𝙩 𝙪𝙨 𝙝𝙚𝙡𝙥 𝙮𝙤𝙪 𝙪𝙣𝙙𝙚𝙧𝙨𝙩𝙖𝙣𝙙 𝙩𝙝𝙚 𝙘𝙤𝙢𝙥𝙡𝙚𝙭𝙞𝙩𝙞𝙚𝙨 𝙖𝙣𝙙 𝙘𝙤𝙨𝙩𝙨 𝙤𝙛 𝙖𝙜𝙚𝙙 𝙘𝙖𝙧𝙚. 👩🏻‍🦳⚖️🧓🏼

Our team of experienced advisers are Certified Aged Care Specialists through Aged Care Steps and FPA - Financial Planning Association of Australia so you can rest assured you're in safe hands.

We can help navigate the complicated field of Aged Care Advice including:
💲 Upfront & Ongoing Aged Care fees
💵 Funding options for Aged Care costs
📈 Centrelink & Cashflow considerations
🏡 Options for your family home

If you, or one of your loved ones, needs assistance unpacking the process, securing care and transitioning to aged care accommodation...

Give us a call to book your discussion with one of our experts on 07 3350 1255.

https://www.pollockfinancialplanning.com.au/aged-care-advice/

18/08/2021

A new financial year often means new rules and 2021 – 2022 is no different. Super contribution caps have increased and can be used to boost your assets leading up to retirement. Super will be one of your main assets when you decide to finish work – taking action now means that you can get there sooner!

You might want to invest money now but are worried about how far away retirement is for you. There are always investment opportunities that maintain access to funds, especially with interest rates at an all-time low.

Whatever your situation, don’t delay making a decision to boost your wealth and contact us to discover your options. You can message us or give us a call on 3350 1255 to start a discussion.

30/06/2021

Employer Superannuation Changes

Will 10% employer super contributions be enough for your retirement?

From 1 July 2021, employers are required to increase current superannuation guarantee contributions from 9.5 to 10%. But will this be enough to generate the income you want in retirement?

This change will also coincide with an indexation on the pre-tax concessional contribution limit from $25,000 to $27,500pa, which employer contributions also count towards, and contribution options are more flexible than ever.

Are you maximising your future retirement wealth and tax benefits received by setting funds aside for your own future needs? If not, or you aren’t sure what you will require in the future, then start a conversation today with one of our advisers and contact our office on 07 3350 1255.

24/02/2021

Low interest rates getting you down?

With the official Reserve Bank of Australia interest rate at 0.10% and some Banks offering 12-month term deposits of up to $2,000,000 at 0.40%, it may be time to consider investment alternatives to bank deposits, particularly if taxation on earnings currently applies!

If the return on your cash holdings isn’t outpacing inflation, or if you are concerned about what your hard-earned savings will be able purchase into the future, start a conversation today with Po***ck Financial Planning to discuss your options and build real wealth into the future.

01/12/2020

Insurance in Super, do you have it and how much are you now paying?

Have you heard that most super funds are raising premiums and that some have increased by as much as 60%?

A substantial premium increase can quickly eat into the future value of your retirement assets.

Your superannuation fund will be one of your largest financial assets accumulated over a lifetime. Reviewing your super and insurance needs now can help determine if the cover needs to be
decreased/increased, cost effective for your needs, and what options you have in relation to protecting you and your family long-term.

Get in contact with Po***ck Financial Planning now to start a conversation today.

11/10/2020

Is 9.5%pa enough for your retirement?

Employer’s are currently required to contribute 9.5% of your employment wages to super, for your retirement. Is this enough and are you on track towards your retirement income targets?

Are you aware of the significant pre-tax wealth creation strategies available to you that could increase your retirement nest egg?

If not, then I would encourage you to take control of your finances and start a discussion about how to better provide for your family’s financial future.

Contact one of our advisers, as a better outcome starts with a single conversation and our advisers can advise you on this matter and others to improve your financial future.

09/09/2020

Working hard and interested in building wealth for yourself, your family and your future?

Superannuation contribution strategies should be considered as part of everyone’s retirement planning options, particularly if you have the earnings capacity to take advantage of catch up concessional contributions, or intend to sell an asset with an associated capital gain.

Contact our office to obtain professional advice before making large financial decisions and start the advice conversation today!

31/08/2020

Are you, or someone you know, planning for retirement or recently retired? You will want to know about your superannuation contribution options, as these continue to evolve.

Legislation allowing members aged 65 and 66 to make voluntary super contributions without needing to satisfy a work test (or work test exemption) takes effect on 1 July 2020. As a result, members under age 67 have up to two extra years from the start of the 2020-21 year to make additional voluntary contributions even if they have retired from the workforce.

This is just one matter that should be considered and we can provide expert advice the many issues that should be considered as you approach retirement.

To start this conversation, please contact our office!

17/07/2020

Another financial year has now passed and individual’s should be considering matters associated with tax returns, particularly if a refund is a possibility or you are retired.

If you are retired and hold either direct shares or a managed investment in your name, please make sure you are claiming back the franking credits attached to any Australian share dividend payments associated with these investments. This is particularly important if you are retired, as you may not already be completing a tax return. The ATO has a simplified process that can be followed obtain a refund:

https://www.ato.gov.au/uploadedFiles/Content/IND/downloads/Refund-of-franking-credits-instructions-and-application-for-individuals-2020.pdf

Unsure what is involved, or haven’t reviewed your personal and financial position for some time? Please contact our office on 07 3350 1255.

26/06/2020

Are you considering purchasing your first home or substantially renovating your existing home? Then please be aware of the government’s HomeBuilder initiative and Queensland’s own Regional home building boost grants:

https://treasury.gov.au/coronavirus/homebuilder

https://www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/regional-home-building-grant

As debts are taken on, personal protection strategies should be considered to protect against unexpected personal injury and the financial impacts that this could have on yourself or family position.

We can assist with advice to protect your financial position and encourage you to contact our office if this is an area of interest to you.

HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations. You will...

15/06/2020

Do you, or someone you know, have a retirement income stream such as an allocated pension account?
Please be aware that your payment amounts are possibly going to change as a result of “Covid-19 temporary reduction in superannuation minimum payment amounts”.
If you are uncertain as to what this may mean for you or what opportunities this may provide you, please contact our office on 07 3350 1255.

These are the key rates and thresholds that apply in relation to contributions and benefits, employment termination payments, super guarantee and co-contributions.