Skip to main content Skip to search

News

Women expect to retire with $200,000 less than men in superannuation

An interesting article in the SMH today:  http://www.smh.com.au/business/consumer-affairs/women-expect-to-retire-with-200000-less-than-men-in-superannuation-20170614-gwqsfk.html

PDF

Women expect to retire with $200,000 less than men in superannuation

The article describes Andrea, a young 32 years old woman who, in her words:

“I thought about what I could afford when I stopped working. And about what would happen if my husband passed away and I was on my own, on one income or with one super [balance] … I think it’s quite realistic for women to expect to have less than their counterpart.”

and then she goes on to say:

“I know because my predecessor – a male – was made redundant and I’m now in his position and I’m definitely not getting paid the same as he was in this role.”

Andrea makes the same mistake that most other Australians make.  Can you see it?

She avoids the responsibility and blames other people.

Unfortunately for Andrea, there will always be a reason, an excuse, as to why you’ll have less than someone else.

We see clients like this all the time.  Our suggestions:

  1. Consolidate your loans.  Combine your credit card(s) / personal loans / car loans into a low interest loan
  2. Set a budget and stick to it!  You’ll be surprised at what difference an $200 can make.
  3. (Appropriate!) Protection.  Andrea talks about her fears if her husband passes away.  Put the strategy in place today to protect yourself

 

Of course, this is all common sense.  But so is hitting a tennis ball, or learning to eat healthy or learning how to swim.  And of course all these are much easier to do with a coach in your corner.

With a Financial Coach, we can:

  1. Consolidate your loans for you (or certainly point you in the right direction)
  2. Show you how to set a realistic budget and how to stay on track
  3. Show you what types of protection are available and an independent way to define just how much protection you need

 

Call us for a no obligation review

Read more

FCA+ Training Webinar

Tuesday 27th June, at 10:00am we are running another FCA+ Training Session.

Learn how to walk a client through the FCA+ Process.  Including:

  1. How to sell the FCA+ Plan to your clients
  2. An overview of where your client is at.  If they made no changes, where are they now, where are they going and what their retirement will look like
  3. How to onboard your first client.
  4. What if you can’t help your client (hint:  you can ALWAYS help your client)
  5. Insights – How other advisers are using FCA+
  6. Licensing and pricing information and more.

 

Read more

EU VAT CHANGES FOR 2015

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.

Read more

ACCOUNTING 1 ON 1

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Read more

PROPER INVOICE INFO

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Read more