When you think about risk management and wealth accumulation, a common consideration is investment strategies (e.g asset allocation, diversification and dollar-cost averaging); however, risk management also extends to insurance planning strategies (e.g. putting in place appropriate personal insurances to help mitigate the financial implications of an unexpected medical event).

Over the course of the last three decades there has been continual change regarding the rules governing superannuation.
In recent times, some of the most significant changes have come from the proposed measures released in the 2016 Federal Budget, many of which took effect on 1 July 2017.

In one of our recent articles, ‘Enlightening Warren Buffett quotes’, we explored several famous quotes by Warren Buffett. One in particular was, “Someone is sitting in the shade today because someone planted a tree a long time ago.” In many ways, this can relate to the benefits derived by others through your engagement in philanthropy.

When you think about currency, the first things that may come to mind are Australian coins and bank notes. Currencies can largely be classified into two monetary systems, namely, fiat money and commodity money (i.e. objects that have intrinsic value as well as value in their use as money e.g. gold).

The Great Australian Dream has been a long held belief that home-ownership can lead to a better life and is an expression of success and security.

At some stage in your life, you may have heard the phrase, ‘jack of all trades, master of none’. This refers to an individual that is competent in many areas, but not an expert in any particular one.

At some point in your life, you may have experienced a certain level of financial stress.
This may have been due to one or a combination of issues, such as managing your debt obligations, running your household budget, and/or handling the financial considerations of a life event (e.g. marriage, birth of a child, job loss, a sickness or injury, divorce, or retirement etc.).

When investment strategies are implemented to build and maintain wealth, they are centred on an understanding of your financial situation, goals and objectives. The utilisation of superannuation is often a major component of this due to reasons such as the variety of investment options available and the favourable tax treatment of income and capital gains in both the accumulation and pension phase.

In one of our recent articles, we explored similarities between retirement planning and marathon running. One of the take-home messages that we touched on was that retirement planning doesn’t cease on the day that you retire – it’s simply a transition to the next phase of your life.

You might be shocked to know that the average super account balance for women when they retire is $90,000 less than the average for men, and 90% of women will retire with inadequate savings to fund a ‘comfortable’ lifestyle.