Profile cover photo
Profile photo
Maddern Financial Advisers
41 followers
41 followers
About
Posts

Post has attachment
How are your New Year’s resolutions progressing? Many of us start out with the best of intentions – to get fit, improve our diet, drink less, travel more, get out of debt or get ahead financially. But without clear goals and a plan to achieve them, our good intentions are likely to remain just that.

The good news is that it’s not too late to turn your New Year’s wish list into achievable goals. You give yourself the best chance of kicking goals if you focus on the process and break your long-term objectives into a series of steps.

Most meaningful goals require a change in behaviour that can’t be achieved overnight. If you’re a couch potato who dreams of running a half marathon, you need to learn to walk before you run. To develop the exercise habit, you may need to rise an hour earlier each day and team up with a buddy to encourage you to keep going. You may also need expert advice to create a detailed, personalised exercise plan and help measure your progress.
Add a comment...

Post has attachment
Everyone has goals they want to reach, whether they relate to work, family, lifestyle, or sport. But it seems like only a few people achieve what they set out to do. For the rest of us, success is always just out of reach. It’s got to the point where we joke with our friends and co-workers about how we’d be able to conquer the world if only we had a few more hours in the day. Or more energy. Or less responsibility at home. The list goes on…

Behind the jokes, though, feeling stuck in terms of progress can be frustrating and demoralising. On the flip side, finding a way around something you thought was impossible can feel spectacular. Here are some of the most common obstacles to success, and how you can tackle them.

#Goals #NewYear #IndependentFinancialAdvisers #Melbourne #Australia #MaddernFinancialAdvisers
Add a comment...

Post has attachment
Even those of us who have been paragons of responsibility for 51 weeks of the year can be tempted to take a budgeting holiday when Christmas and the summer vacation roll around. Unlike overindulging at the Christmas lunch, this has more than short-term consequences.

Last December, Australians spent $25.6 billion in retail stores. A survey conducted at the time by peer-to-peer lender SocietyOne found shoppers planned to put over half the cost of the presents they bought on credit or store cards. SocietyOne’s research also found that while shoppers believed they’d pay off their festive splurge by April, most actually wouldn’t.

If you don’t want to stagger into the New Year with a painful debt hangover, it’s worth taking a moment to sort your needs from your wants. Separating wants from needs can be one of the toughest aspects of budgeting, particularly around the festive season.

#Budget #Debt #FinancialPlanning #IndependentFinancialAdviser #Melbourne #Australia
Add a comment...

Post has attachment
Ever wonder what Christmas carols would sound like if they were written today? There’d probably be a lot less about piper’s piping and partridges in pear trees, and a bit more about the madness of trying to put on the perfect Christmas without breaking the bank – or going a bit mad. Perhaps an urban legend of a parent who braved a Westfield on Christmas Eve and lived to tell the tale.

If this sounds familiar, here are a few steps you can take to help reduce the financial stress of the silly season.

#Christmas #ChristmasTips #FinancialPlanning #IndependentFinancialAdviser #Australia
Add a comment...

Post has attachment
Things are looking up for first home buyers for the first time in years as house price growth begins to slow across the country. While prices have been on the slide for some areas in the West and the North since the end of the mining boom, the housing market in Sydney and Melbourne also appears to be losing steam.

At a national level, house prices were unchanged in October and up just 0.3 per cent over the quarter according to the latest figures from property research group CoreLogic. Significantly, the over-heated Sydney market fell 0.6 per cent over the three months to October, joining Perth and Darwin which have been falling since 2014.i

Hobart is the top performing market, fuelled by mainlanders searching for more affordable housing. Prices for Hobart dwellings rose 12.7 per cent over the past year, although price growth slowed to 0.09 per cent in October. It’s easy to see why people are flocking to the Apple Isle; the median dwelling value of $396,393 in Hobart is less than half what you can expect to pay in Sydney ($905,917) where prices are up 74 per cent since the boom began in early 2012.

Melbourne is the second most expensive city, with an average dwelling price of $710,420. And while the Melbourne market isn’t falling, it also shows signs of cooling with growth of 1.9 per cent in the three months to October and annual growth of 11 per cent. Other capital cities show little change with Brisbane up 0.6 per cent over the quarter while prices in Adelaide rose just 0.1 per cent.

#Melbourne #Property #AustralianProperty #Housing #IndependentFinancialAdviser
Add a comment...

Post has attachment
Move over baby boomers, younger Australians are taking to self-managed superannuation funds in ever greater numbers. While the face of DIY super may be changing, the reasons for flying solo remain the same. Flexibility and control are the main drawcards, along with falling set-up costs.

The latest statistics from the Australian Taxation Office show that the number of trustees aged under 55 has grown significantly. Of SMSFs established in 2017, 67.9 per cent of members were under 55, up from 51 per cent in 2010 and 54.3 per cent in 2016. And the trend is expected to continue.

At the same time more women than men have set up SMSFs in recent times, particularly in the 35-44 age group. This is at odds with the long-held image that all SMSF trustees are wealthy older men.

Some of this change can be explained by the fact that Gen Y and younger Gen X have had superannuation since they started work, so many have built up a reasonable sum in their super by their mid to late 30s. As a result, they now want to take advantage of the flexibility and control that an SMSF can offer.

#Superannuation #SMSF #FinancialPlanning #Finance #IndependetFinancialAdviser #Melbourne #Australia
Add a comment...

Post has attachment
You’ve probably heard the saying ‘change is as good as a holiday’. And sure, in some situations, altering your circumstances can be refreshing. But not all major life changes make you feel immediately clear, secure, and ready to take on the world. When everything you know is turned upside down, moving forward successfully is not a quick snap – it’s a transitional process.

Navigating through the darkness before the dawn is tough. Conversely, many people struggle with sudden good fortune. The good news is, countless people like you have been there before. They’ve struggled with decisions and made mistakes so that you don’t have to.

#FinancialPlanning #Finances #Australia #Melbourne #IndependentFinancialAdviser
Add a comment...

Post has attachment
Owning your own home has long been the Australian dream but after years of strong house price growth it’s becoming less of a reality for many. This has major implications for retirement planning.

The major factor behind the shifting approach to home ownership is the prohibitive price of property, particularly in Sydney and Melbourne. As a result, today’s younger generations may be close to 40 before they take their first step on the property ladder.

It’s sometimes argued that renting can be just as wise as owning. Advocates say you can invest the money you save through not paying rates, meeting the costs of maintenance or interest on loans. But this strategy can prove a problem in retirement.

Owning your own home is often viewed as the fourth pillar of our retirement support system, with the other three being superannuation, savings and the aged pension...

#australia #property #finance #retirement #superannuation #homeownership
Add a comment...

Post has attachment
It’s been a decade since the market crash known as the Global Financial Crisis rocked the investment world. At the time investors could only watch in disbelief as 50 per cent was wiped off the value of their shares. Arguably, the actions those investors took are still reverberating today. Which begs the question: what are the key lessons of the GFC and did we pay attention?



#AustralianMarket #Finances #FinancialPlanning #Independant #IndependentFinancialAdviser #Investments #PrivateWealth #GFC #GlobalFinancialCrisis #MaddernFinancialAdvisers
Add a comment...

Post has attachment
Australia’s historically low interest rates are great news for borrowers but a headache for savers. Whether you are a young single saving for a home deposit, a family saving for future education costs or a retiree seeking income, the hunt is on to find the best return on your savings.

In a recent survey by Westpaci, 29.4 per cent of people said bank deposit accounts were the “wisest place for savings”. Real estate (24.6 per cent) and pay debt (16.5 per cent) were also popular choices, ahead of shares (9.5 per cent). And despite generous tax breaks, superannuation (5.2 per cent) limped in behind “spend it” (5.4 per cent).

Finding the wisest home for savings is not just about the highest return. If you are saving for a holiday or a home deposit, long-term investments such as shares or super are not appropriate.

Your appetite for risk and the amount you have available are also factors. Say you receive a $5,000 windfall, or identify savings of a few hundred dollars a month. Real estate is out of the question, so what are your options?

#investments #finance #independentfinancialadvice #saving
Add a comment...
Wait while more posts are being loaded