With an increasingly aging population there is going to be continued pressure to be able to fund your own retirement. The sooner you put into place practises to improve your worth when you retire, the more time you will have to get the maximum value from your retirement planning efforts.
At the end of the day we all desire a fulfilling retirement. The question is how is this best achieved? One popular option is the use of a Self-Managed Super Fund (SMSF).
While not everyone will want to set up one of these funds, it may be worth your while to take a look at some of the many benefits they offer, including: Continue reading
The main reason people go into business for themselves is quite simple – to have more control. For others, wealth creation is the main focus, although small business also brings with it the higher chance of failure and loss. Is the hard work and extra risk worth it?
If you are a small business owner or have dreams of becoming one, consider the following and how it might apply to you.
Earn less now to create future wealth
Research suggests that the average Australian small business owner works in excess of 35 hours per week – much more than their employed counterparts of similar age – but despite these hours, small business owners have lower levels of income. Continue reading
Today, almost every adult in the country has some assets to pass on after they die – even if it is only the balance in a superannuation account.
Most Australians will have considerable assets when their home, superannuation, insurance and other assets are taken into account. Failure to make appropriate plans, of which preparation of a will is just a part, is essential for the comfort and wellbeing of surviving relatives, or even a cherished pet, if that is your choice of beneficiary.
An illustration of the importance of this can be found in the case of an 18 year old who died without a will. Her superannuation fund paid out an insurance benefit of $80,000 to her estate and, because she had no will, it was divided equally between her parents. Her mother was upset because the girl’s natural father had left when she was only a baby and had no part in her upbringing. Perhaps if the girl had a will, she might have made a different decision. Continue reading
Hundreds of businesses were brutally affected by the wild weather Australia experienced in early 2011, and many of them took months to recover. Even those people responsible for managing natural disasters were struggling to cope. So what would happen if a disaster – natural or man-made – struck your business? Would you be ready? How long would it take to get back on your feet? Would you fully recover?
We understand that you’re busy and it’s easier to hope it might never happen to you, but you really should have a business disaster recovery plan. Continue reading
After a number of delays and uncertainty, the Personal Property Securities legislation is due to come into effect from 30th January 2012. This represents major changes in how the security of assets are recognised and will leave many business exposed if they fail to understand the changes and how it could affect their valuable business assets.
What is the Personal Property Security Register?
The Personal Property Security Register is a national register replacing many existing national and state based registers. It will be possible to access the register online to search for existing security interests and to register new ones. Continue reading