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Money Magazine

Money Magazine December 2020 / January 2021

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.

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11 Edities

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1 min
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1 min
best-value super platforms

GOLD WINNER VISION SUPER For a low fee you can have more control over where your savings are invested For those who want to exercise a greater choice in where their super is invested, platforms provide a range of investment managers and funds for allocating their savings. Super is the biggest segment in the platform sector, growing 1% to $369 billion this year. This category was added to the Best of the Best line-up last year and in 2021 Vision Super retains its top spot with fees of 1.1% on balances of $10,000, reducing to 0.48% on $50,000. “We’re delighted to see our efforts to maintain the lowest possible cost platform and best value insurance products recognised by Money magazine,” says Stephen Rowe, Vision Super’s chief executive officer. “Our members are at the centre of everything…

1 min
best balanced pension products

GOLD WINNER HESTA As Australians live longer, the appeal of income-paying pensions is increasing When you reach retirement age, you have the option to access your super as a lump sum or you can transfer it to a pension product. As people live longer, more retirees are choosing to keep their money in the superannuation system, earning tax-friendly returns on their money for as long as they can. This year HESTA has won the category. HESTA has featured strongly in our 2021 Best of the Best awards, winning four. Debby Blakey, HESTA’s chief executive, says sustainable returns have been outstanding. She says many members stay in their MySuper option and she is entirely comfortable with that. “Our income stream product has been going for 10 years and we’ve just been through a streamlining of investment options…

2 min

ECONOMY Future belongs to a smart country Australia needs to invest in its knowledge economy if it is to compete in the global economy, says the former head of the federal Treasury’s budget and revenue groups, Greg Smith. “Australia cannot rely on the mining industry as its sole economic advantage in the long run,” he told the Tax Summit: Project Reform. Rather than rely on the resources, manufacturing or services, Smith believes Australia needs to turn to its knowledge-based part of the economy such as information technology, media, research and development, and knowledge-based services including education, consultancy and financial planning. “At the moment, only 10% of our total investment is going into intellectual property, whereas in most of the rest of the advanced world, it’s 20%-30% of investment going into that sector,” says Smith. “A…

1 min
best-value five-year fixed investment loans

GOLD WINNERS BANK UBANK MAJOR BANK MACQUARIE BANK NON-BANK WELL HOME LOANS A five-year lock-in makes it easier to budget and brings peace of mind In this age of volatility, a fixed rate for five years could provide peace of mind – you know exactly what you’ll be up for. On the downside, fixed loans typically have high discharge fees and lack flexibility – a function of the risk the bank is taking on to commit to the prevailing interest rate environment. So it’s worth staying the course until the end of the fixed term. “During uncertainty, people want security, so we’re seeing more people looking to the certainty of fixed-rate loans,” says Philippa Watson, from UBank, the bank winner. “We’re also seeing an increase in refinancing existing loans to take advantage of historically…

1 min
best-value mobile plans – international calls

GOLD WINNER AMAYSIM Look at the whole package, rather than just the cost, for connecting with the world The number one rule when selecting a mobile plan for international calls is to “assess the total package”, says amaysim chief marketing officer Renee Garner. Price is one factor, but also consider the countries included and the number of international minutes that are free or included, as well as data and network, she says. Gold winner amaysim isn’t the cheapest, but it delivers value in spades. Second-placed Lebara Mobile is the cheapest among our finalists, though only marginally, and with a lot less data. For the second consecutive year, ALDI is in the top three. Garner says mobile providers should rise to the challenge to offer customers the best deal possible. And this will only increase as…