advice Archives - Jennings Financial Services

End Of Financial Year

End of Financial Year - Top 10 Tips for Business' Pay and clean up any super owing before 30 June Businesses must ensure they are paying employees additional superannuation. As superannuation is not tax deductible until it has been paid, it is also important to ensure all superannuation payments owing are completed before 1 July, this is a great way of reducing your income tax bill. Business owners should be aware of the cash flow implications of the change and make plans accordingly. Be aware of relevant tax changes It is critical you are aware of any relevant tax changes which typically come into effect at the start of a new financial year. Start by consulting your financial adviser or running a thorough search of the ATO for news and announcements. This will ensure you are well positioned to either capitalise on a positive change or prepared for an adverse change. Forewarned is forearmed. Get your tax-deductible expenses in [...]

By Bruce Jennings|2021-06-09T15:03:13+10:00June 9th, 2021|Community Activity|0 Comments

Financial Advisor – Worth it?

Is It Worth the Money to Hire a Financial Advisor? Vanguard Study Calculates the True Value of a Financial Advisor Among the most common questions financial advisors hear is, “Why on Earth should I hire you when I can manage my own money? I have a Superannuation Account and if I want to make other investments there’s a ton of information and advice available on the internet.” We totally understand the question. Financial advice typically costs 1 percent of your portfolio per year. So, yes, people want to know if they are getting what they pay for. Vanguard, one of the world’s largest investment companies, has been examining this question for 15 years. Based on research, analysis, and testing, Vanguard has concluded that, yes, there is a quantifiable increase in return from working with a financial advisor. Vanguard calls this advantage the Advisor’s Alpha. When certain best practices are followed, the result can be an Alpha in the 3 percent [...]

By Bruce Jennings|2021-01-18T14:50:41+11:00January 18th, 2021|Tips and Other News|0 Comments

Australia’s Recession – Don’t Panic

Folks, these are scary times. So I give you the following seven reasons why you do not need to add to your list of worries the fact that Australia has just clocked up its sharpest decline in economic output on record. 1. It’s old news. The national accounts figures released on Wednesday refer to the value of goods and services produced in the months of April, May and June this year, when severe coronavirus restrictions were in place across the nation. It is entirely predictable those restrictions would mean that Australians were able to produce and sell a lot fewer goods and services during that period. 2. The figures are much better than originally feared. Until quite recently, both Treasury and the Reserve Bank had been anticipating a fall in gross domestic product (GDP) in the June quarter of about 10 per cent. It didn’t happen. It was only 7 per cent. That’s good news. 3. We have done much better than other countries. Britain [...]

By Bruce Jennings|2020-09-04T10:54:36+10:00September 4th, 2020|Community Activity|0 Comments

Looking after your Household Expenses

Take the pain out of managing your family’s finances. Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress. Here are some tips to help you effectively manage your household finances. 1 | Examine your finances Sitting down as a family and figuring out how much money is coming in and going out may help you gauge the state of your family’s finances. A clear picture of your household income and expenses could set you up to manage your cashflow better. 2 | Rein in spending Keeping expenses under control can be tough in a large household. But if you’re spending as much as or more than you’re earning, you might want to consider limiting your family’s discretionary costs by buying only what you can afford. 3 | Set financial goals Setting financial goals as a family may help you work towards future aspirations instead of [...]

By Bruce Jennings|2020-08-25T11:05:21+10:00August 25th, 2020|Tips and Other News|0 Comments

What Drives Member Outcomes

Fees and returns are important drivers of a member’s super balance. They’re also easy to measure and for members to understand. That’s why super funds have focused on delivering competitive returns and low fees for their members. But CoreData research shows that fees and returns are not important drivers of retirement outcomes. In the real world, retirement outcomes are about more than money. They’re about more than the super balance; and they’re about more than fees and returns. Please click on the link below to see the article in full https://www.newmodeladviser.com.au/2505/start-making-sense-episode-4-why-super-fund-fees-and-returns-dont-drive-member-outcomes/ CoreData is a research house. If you would like to discuss further, please contact our office. Author: Jason Andriessen

By Bruce Jennings|2020-07-01T12:40:17+10:00July 1st, 2020|Tips and Other News|0 Comments

The case for Calm with COVID-19

https://www.ampcapital.com/au/en/insights-hub/Videos/2020/march/the-case-for-calm-with-covid19?csid=1229034487 Please click on the link to watch the Webinar from Dr Shane Oliver - Head of investment strategy & Economics & Chief Economist at AMP Capital. This isn’t the first human health emergency we’ve seen, and it won’t be the last. Shane Oliver shares his views and projections on the COVID-19 outbreak, drawing on tried-and-tested lessons for managing and protecting investments during a crisis. This is a plain English webinar, that is extremely informative about the current market conditions and what you can expect going forward. If you have any concerns or questions please contact Bruce

By Bruce Jennings|2020-03-18T09:54:18+11:00March 17th, 2020|Market News, Tips and Other News|0 Comments

The Link Between Financial & Mental Health

It may seem obvious that financial stress would have a direct impact on people’s health and happiness. However, new research from Fidelity International suggests that Australians are not making the link between financial health and our overall wellbeing. Fidelity’s survey of over 2,000 Australians shows almost half of us worry about money at least weekly, with one in four worrying at least daily. And having money doesn’t necessarily make people immune from anxiety. More than a third of Australians with more than $1 million of assets to invest still worry at least monthly. What are Australians worrying about? We have enjoyed more than 25 years of uninterrupted economic growth and Australia has not experienced a recession since 1991. Our superannuation system is the envy of many parts of the world and most people have now been accumulating savings to fund retirement since the Superannuation Guarantee started in 1991, a healthy last 28 years ago. Despite this, less than one [...]

By Bruce Jennings|2020-02-14T14:47:13+11:00February 14th, 2020|Tips and Other News|0 Comments

Small Steps to Great Success

If you want to get ahead, financially, it’s necessary to take some steps to get there. It may seem daunting and overwhelming but like anything, if you have a professional guiding you along the way, small steps can lead to something great. Step 1 | Seek advice It’s hard to achieve great success without a team of experts behind you and your wealth is no different. Getting professional financial advice means your adviser can work through a myriad of options with you and implement a strategy aligned closely to your financial goals. Retirement planning, tax-effective super strategies, investments and estate planning? Your financial adviser can help. Step 2 | Understand what role risk plays One of the first things your financial adviser will do is work out your risk profile, which they will check at regular review meetings. Why? Because risk is related to return, and this will help drive the recommendations they make to you in terms of your financial [...]

By Bruce Jennings|2020-02-05T12:28:49+11:00February 5th, 2020|Tips and Other News|0 Comments

The need for advice is the one thing that won’t ever go away…

There is perhaps no greater critic of Australia's financial advice industry than Connect Financial Service Brokers chief executive Paul Tynan. At the same time, there is no greater advocate. Jamie Williamson writes. Having worked in the industry for more than 40 years, Paul Tynan has lived its evolution and is now a staunch, frequently outspoken supporter of what he hopes will be its revolution. A proud country boy, Tynan got into financial services by way of an accounting degree because "it was just what you did in those days." Never one to sugarcoat, Tynan says he realised he "had too much personality and liked talking to people too much" to remain an accountant and joined AMP's corporate superannuation division in 1975. After 10 years in various administrative roles, Tynan became one of AMP's first superannuation consultants, eyeing an opportunity to be a part of something big. "Everyone goes on about how super was started in 1992, but it wasn't. [...]

By Bruce Jennings|2019-03-12T11:25:38+11:00August 27th, 2018|Community Activity|0 Comments