Coronavirus stimulus

Today I will talk about to issues which are of major importance to retirees. The first concerns the minimum pension payments which must be made each year from the superannuation account in pension mode. The two relevant factors are the balance at June 30 last, and the age of the member. For example, a person …

Guaranteed Secrets of Wealth

For years I’ve talked about what I call “the guaranteed secret of wealth”, which in essence boils down to appreciating that everybody, irrespective of income, tends to pay their commitments, spend the balance, and end up broke on payday. This is why the easiest way to get ahead is to take on some sort of …

Super Balances

Recently a reader emailed me as follows “My super balance Is $260,000 and my wife’s balance is $80,000. When I input our numbers into your Super Contributions Indexed calculator, (7% return, 2% salary increase) my potential balance is $2.7M and hers is $1.4M by the time we reach 65. Given that my balance should well …

How Credit Cards Work

Welcome to a new decade. I’m going to start it off by talking about the way credit cards work, because I received a number of emails over the holidays complaining about excessive fees. Be aware that unless the credit card balance on your latest statement is paid in full before the due date, interest will …

Aged Care Options

Some call it the silly season, others call it the festive season, but for many a better title would be the “aged care season”. It’s a time when families come together, maybe for the first time since last Christmas, and realise that Mum or Dad – or both – need some care and support. The …