Money Magazine June 2019

Money magazine is Australia’s longest-running, highest-selling and most-read personal finance magazine. Money magazine provides credible, independent, easy-to-understand financial advice to help its readers save money and make the most of their investments.

Rainmaker Information Pty Limited
11 号


big decisions made easier

We are rockin’ and rollin’! This edition is jam-packed with handy finance knowhow you can use to swing the odds in your favour. From investing in shares versus starting a side business to tax strategies for all seasons, this issue will give you the tools to make informed financial decisions. We make choices relentlessly. The average adult makes about 35,000 conscious decisions in a day. After the decision to dismiss or snooze your alarm clock, to have bacon and eggs or avo on toast, to wear the green tie or the blue tie, it’s not surprising if you’re mentally exhausted at lunch time. No wonder many of us stall on big financial decisions. Simple, everyday choices stretch us to the limit. We take away that tightrope feeling with this edition. We are…


Letter of the month It’s important to track your super’s progress I just want to tell you that the article “These are the numbers that can predict your future” (April issue, pages 74-75) is one of the best articles I have read. Marcus Padley explains how to do some simple calculations to track one’s super balance progress year by year. I have been doing this myself and Marcus’ article has confirmed that my simple spreadsheet calculations are all I need to keep track of how my super is progressing and how long it will last. Thank you, Marcus, for your article. Martha First home buyers can see some light at last Thank you so much for producing a fantastic magazine. I’ve been reading it for about four years now and as a 26-year-old I’m finally ready to…

what is your new financial year resolution?

PETER BEMBRICK Peter is a tax partner at HLB Mann Judd. Peter says: “Set out your short-, medium-and long-term savings goals and stick to them. For example, send a predetermined dollar amount into a savings account or investment portfolio each month and resist at all costs the temptation to ‘borrow’ from the funds, even temporarily.” ADRIAN RAFTERY Adrian is an author and associate professor at Deakin University. Adrian says: “Rather than setting new goals, it’s about ensuring a culture of keeping my short-, medium-and longterm financial objectives on track. July 1 is merely an opportunity for a quick assessment of my overall tax, retirement and estate planning.” REBECCA PRITCHARD Rebecca is a financial coach at Wealth Enhancers. Rebecca says: “To sustain a $25 per week cut in my personal spending so that I can have…

in your interest

Well, that was a surprise. I was all set to write about a rather changed world for investors with our new Labor federal government. But quite obviously, that didn’t happen. Clearly I need to ignore polls in the future, but let me start by stating the fiscally obvious. It is not easy for either Liberal or Labor to have a dramatic impact on our lives or our economy. The reality is that despite our large Federal budget, which is in excess of $440 billion, a government can only make changes at the edges. The vast majority of our tax is already committed. Health, education, aged pensions, unemployment benefits, defence, public utilities and infrastructure take up pretty much all the money. Politicians can bang on about a few percent more into key areas, but…

make protecting your super a priority

June 30 is an important date on the financial calendar and this year it’s especially significant if you want to sort out your superannuation. On July 1 the federal government’s Protecting Your Super package begins, meaning if you have an account (or multiple accounts) that’s been inactive for 16 months and has a balance of less than $6000 its ownership will be transferred to the ATO. However, time is on your side. While super funds are obliged to identify and report their inactive low-balance accounts to the ATO from July 1, the transfer can occur up to October 31. What this means, though, is the longer you ignore your inactive account the greater chance it has of being moved to the ATO. After October 31, the tax office will then attempt to…

give young people a fair go

The royal commission into banking didn’t set out to target the nation’s youth, but the consequences flowing from it mean they’re getting the short end of the stick. The most obvious example is how large institutions have tightened up on credit, with young people the most likely to suffer when they apply for a loan. They are far less likely to have the asset backing that institution’s demand as security, whether it be for business, personal or home loans. My greater concern is for business debt. We hear ad nauseam about how the labour market is changing, about how young people are shunning the traditional nine-to-five jobs to be self-employed, yet still find it difficult to get debt funding. The federal government has recognised this with its $2 billion initiative to boost…