Pekada

Pekada Pekada is a bespoke financial planning business specialising in SMSF advice, investment and portfoli

In what is always an exciting time of the year for us financial planners, the Federal Budget was handed down last night....
14/05/2024

In what is always an exciting time of the year for us financial planners, the Federal Budget was handed down last night.

Just in case you missed tuning in, we have prepared a summary of the key items that we feel are most relevant to financial planning strategies.

Read our summary of the financial planning key points from the Federal Budget 2024-2025 here: https://www.pekada.com.au/news/federal-budget-2024-2025-financial-planning-summary/

The Labor tax package easily passed through the upper house on Tuesday night with bipartisan support. The quick passage ...
27/02/2024

The Labor tax package easily passed through the upper house on Tuesday night with bipartisan support. The quick passage of the bill means the cuts will start applying to people’s incomes from July 1.

What does this mean for you?

The stage 3 tax cuts will make the following changes to tax rates and thresholds in 2024/25 compared to the current financial year (2023/24):
✅ reduce the current 19% tax rate to 16%
✅ reduce the current 32.5% tax rate to 30%
✅ increase the current threshold above which the 37% tax rate applies from $120,000 to $135,000
✅ increase the current threshold above which the 45% tax rate applies from $180,000 to $190,000

Link to our article with more details: https://www.pekada.com.au/news/stage-3-tax-cuts-for-2025fy-and-what-they-mean-for-you/

There is a cap on how much you can contribute as a non-concessional contribution (NCC) each year. Thecap is currently $1...
10/12/2023

There is a cap on how much you can contribute as a non-concessional contribution (NCC) each year. The
cap is currently $110,000.

If you are under age 75 on the 1st of July, you may be able to bring forward up to an additional two
years of non-concessional contributions, enabling you to make a larger contribution sooner. 💰1️⃣2️⃣3️⃣

Eligibility will be based on your total super balance and other requirements. This can be complex so make sure you seek advice to determine how this applies to you.

Want to know more? Book a chat with us or read the full article on our website.

Link to full article: https://www.pekada.com.au/news/bring-forward-non-concessional-contributions-explained/

"The Permission Gap"Do me a favour: grab a piece of paper and a pen. ✍Come on… no excuses. If you're sitting there readi...
29/11/2023

"The Permission Gap"

Do me a favour: grab a piece of paper and a pen. ✍

Come on… no excuses.

If you're sitting there reading this, you have time.

Got it? Good.

Now make two columns. Above the left column, write: Things I've Always Wanted To Do. Above the right column, jot down: Things I've Done.

Take a few minutes, no more than five, to populate each column. Then put that piece of paper somewhere safe, where you'll see it often. Your office desk, the bathroom mirror, the fridge at home.

Now pick something from the left column and do whatever it takes to get it into the right column. Some things will take years, others months. You may even find that things like "diving with whale sharks" or "going to a Lakers game to watch Lebron James in the flesh" can move from left to right in a matter of days.

For many people, the only thing preventing them from doing what they've always wanted to do is permission.

Consider this piece of paper your permission slip. Now you have no excuses. Time to make your dreams come true.

Let us know what you move to your "done" column! 🥳

Just like any other parenting choice, the topic of pocket money is a hot one, buzzing through online forums with everyon...
27/11/2023

Just like any other parenting choice, the topic of pocket money is a hot one, buzzing through online forums with everyone sharing their thoughts. 🗣️

I wanted to share my take on this and hopefully spark some ideas for your own family. 💡

I'm also curious about your experiences! Have you found strategies that work with your kids or grandkids? Or maybe there's something your parents did that stuck with you? Share your tips 💯

Link to Rhiannon's full article on our insights page here: https://www.pekada.com.au/news/my-thoughts-on-pocket-money/

Understand the opportunities of the carry-forward or "catch-up" concessional contribution cap!Maximize your concessional...
22/11/2023

Understand the opportunities of the carry-forward or "catch-up" concessional contribution cap!

Maximize your concessional contributions beyond the regular yearly cap by tapping into unused amounts from previous years.

Curious to learn more? Let's chat!

Or dive into the complete article on our website.

Check out the links in our bio for all the details. 💡

After an epic six-week European adventure, Zac is back in the office. While his body is in Melbourne, he undoubtedly sti...
06/09/2023

After an epic six-week European adventure, Zac is back in the office. While his body is in Melbourne, he undoubtedly still dreams of a hot European summer, inspiring an article on something we all yearn for—TRAVEL! 🌞

He has put together a little roadmap for making those globetrotting adventures part of your financial plan!

So, where's your next destination? ✈️🌏


https://www.pekada.com.au/news/making-travel-part-of-your-financial-plan/

Every moment you spend thinking about the future version of you, you're making a tradeoff.Both are important, but there ...
31/08/2023

Every moment you spend thinking about the future version of you, you're making a tradeoff.

Both are important, but there needs to be balance.

When you're worrying about the future too much, you're missing out on a chance today. A chance to have a meaningful conversation with a loved one, have a memorable experience or sit back and appreciate the simple things (Not that I've ever done that.)

Of course, planning for tomorrow is really important.

Being present today is also important.

Part of being human is learning to balance the tension between those two.

—Pete

If you take 1 cent and double it every day for 30 days, you end up with $5,368,709.12.😮Don't believe me? Do the math.Beh...
24/08/2023

If you take 1 cent and double it every day for 30 days, you end up with $5,368,709.12.

😮

Don't believe me? Do the math.

Behold the magic of compounding interest—something Albert Einstein is said to have called the most powerful force in the universe.

But what I find really interesting about the doubling 1 cent example?

On day seven, you're only up to $1.27. In fact, by day 15—halfway to 30—you're still only at $614.40.

Don't get me wrong—turning 1 cent into $614 is excellent. But you're still a long, long way from a million.

That's the tricky thing about compound interest—it starts really boring.

In fact, most of us never get to see this powerful force at work because we're not willing to go through the boring part.

Things do get exciting eventually. Just look at the steep end of the curve.
It just takes a while to get there.

Unfortunately, the only way to get there is to first go through the boring part of the curve.

So be patient.

Very, very patient.

If you’re making less than $58,445 in the 2023/24 financial year, and at least 10% of that comes from your job or a busi...
21/08/2023

If you’re making less than $58,445 in the 2023/24 financial year, and at least 10% of that comes from your job or a business, consider putting extra money into your super after taxes.

If you do and meet specific criteria, the Government might chip in with up to $500 into your super account—which is a fantastic percentage return on investment!

For more info check out our insights page here: https://www.pekada.com.au/insights

EVERY SECOND COUNTSMy inspiration for today's post comes from the 7th episode of the Second Season of (a brilliant 30 ...
09/08/2023

EVERY SECOND COUNTS

My inspiration for today's post comes from the 7th episode of the Second Season of (a brilliant 30 minutes of television).

I'll avoid any spoilers other than to say that one of the characters, Chef Terry delivers a lesson on the importance of 'time well spent'—both in her words and the sign that hangs in the kitchen with the simple statement "EVERY SECOND COUNTS".

So it got me thinking (dangerous, I know!), as on a personal note, in the last couple of weeks, we have been fortunate to celebrate our eldest's 100th day of prep and our youngest turning 4.

Naturally, you take lots of photos and videos of these moments, and what was so awesome this time was that in my scrolling review the next day, I stumbled into the "Memories" section of my photo library. Cue emotional moments and a few tears seeing how quickly time flies.

What a treasure trove of random memories with loved ones. For me, it was also a reminder that every day there are things that I sometimes take for granted that will never happen again.

There is a bit of 'extra' in what seems ordinary days when you can reflect on it in time.

You have heard me say it many times, but it remains true. At the heart of real financial planning is helping people live their best life, and a big chunk of that is enjoying quality time with those we love.

Thanks for reading this far!
—Pete

Here's something we all know.Experiences > Money.Every. Single. Time.And yet, despite all of us knowing this, we sure fi...
12/07/2023

Here's something we all know.

Experiences > Money.

Every. Single. Time.

And yet, despite all of us knowing this, we sure find it difficult to remember. Or at least when it comes time to act, we find spending the money hard or attached to negative feelings such as guilt and shame.

Experiences tend to feel extravagant. But are they? Really?

Look, I know you've got countless financial "experts" constantly telling you to save. And to be fair, they're not wrong. You should definitely save for tomorrow.

All I'm saying is, don't forget to spend (invest) on experiences today that you will remember fondly tomorrow, too. Because one day, looking back, all the money you saved suddenly won't feel like it's worth much.

What you'll value much more are the unforgettable experiences you had.

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