In conversations with clients we often hear people in their 40s and 50s being concerned about an ageing parent or grandparent and the need for those ageing family members to go into residential aged care.
As many of you would be aware, if elected into Government this year, the Labor party is proposing to remove the refund of excess franking credits from July 1, this year. This policy announcement has triggered lots of media commentary and as advisers, many clients have been asking what plans we have been considering “if this happens” and what they should do to protect their income. For the moment, the answer is not much.
The Federal Treasurer, the Hon. Josh Frydenberg MP, delivered the 2019 Federal Budget on 2 April 2019. As widely predicted, the announcement included a range of tax cuts for both individuals and businesses. The Treasurer also announced positive changes to superannuation and an affirmation of previously announced aged care measures. This summary highlights key issues of most interest to you.
Goals based advice is a term coined quite a lot these days, you could argue it’s a bit of a buzz word or phrase, but what does it really mean? In short, goals-based advice is achieved by your financial adviser putting your goals, hopes and dreams for the future at the forefront of everything they do when building your strategy. Like many industry's it's about putting the client at the centre of everything.
Last Friday afternoon Chris, Clare and I had the privilege of an extensive tour of Sacred Heart Mission in St Kilda. At the beginning of last week, the tour was simply an entry in my calendar that would end a no doubt busy week. That calendar entry became the highlight of my week and validated why the Hewison Foundation had been giving to and supporting Sacred Heart Mission for the past three years.