Our kids, we love them but can’t deny they are expensive!
For an early Father’s Day gift, I received an electronic photo frame that cycles through a small percentage of the millions of photos of my kids. As with everyone else I love my kids and would go to the ends of the earth for them, and like everyone else I want to give them the […]
Why is it hard to find an adviser?
Some people may have noticed that it’s either hard to find a financial adviser taking on new clients or your current adviser is leaving the industry. The industry has actually gone through some dramatic changes and the result is a lot of advisers leaving the industry. The below chart shows this trend since 2017 Source: […]
What is financial freedom?
I have just returned from a week off and it got me thinking about what financial freedom means to me. For some people, it is simply ensuring they have enough incoming to cover outgoing, and for others it might be having enough passive income that they don’t actually ever need to work again. In reality, most people […]
Disappointing tax returns
Disappointing tax returns? Something I’ve been seeing a lot of on social media since the start of the financial year is a lot of, mostly, young Aussies getting a bit of a tax shock. Some are getting disappointing returns or having a tax bill! If you’ve been working full time for only a few years […]
Creating Effective Solutions for Aged Care
Preparing the way for yourself or a loved one to enter residential aged care can be a difficult and stressful task. But you don’t have to face it alone. We can guide you through the process, providing professional advice and support to create effective solutions for you and your family. Planning your care needs As […]
Sacrifice pre-tax salary into super
Contributing some of your pre-tax salary, wages or a bonus into super could help you to reduce your tax and invest more for your retirement. How does the strategy work? With this strategy, known as salary sacrifice, you need to arrange for your employer to contribute some of your pre-tax salary, wages, or bonus directly into your […]
Do you have an aged care plan in place?
We plan for many aspects of our lives, but few people plan for future aged care needs. Now is the time to change that trend. Most of us avoid thinking about our future aged care needs, delaying our decisions until they’re taken out of our hands. Life expectancies are increasing. This means not only might […]
Buy/Sell Insurance, what and why.
Here at BW Private Wealth we are a local family Financial Planning business and do a lot of work with other local businesses of all types. Something that comes up a lot is a business that has been set up and may or may not have a buy/sell agreement. When a business first starts, it […]
Boost your spouse’s super and reduce your tax
Making an after-tax contribution to your spouse’s super could benefit you both – by increasing your spouse’s super and potentially reducing your tax. How does the strategy work?If you make an after-tax contribution into your spouse’s super account and they earn less than $40,000 in FY 2022/23, you may be eligible for a tax offset of up […]
Splitting your super contributions to your spouse
Splitting super contributions to your spouse’s super account may help boost their retirement savings and provide a range of other benefits. How does the strategy work? You may be able to split (transfer) eligible concessional contributions (CCs) that you’ve made or received to your spouse’s super account. Eligible CCs include employer super contributions and personal super contributions […]
