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Don’t over-extend yourself

Research shows we tend to:

  • Be over-confident of our debt repayment ability
  • Underestimate likelihood of things going wrong

Causes of mortgage stress

  • Looked at ‘mortgage stress’ triggers
  • Did surveys and interviews
  • Assessed ‘initial’ and ‘final’ causes of missing repayments
  • Typically more than one reason

Investing for children

  • Start early and give them a head start

Make the most of super

Get the basics right

  • Track down ‘lost’ super
  • Consider merging multiple accounts
  • Review where super is invested
  • Consider time frame when selecting investment option(s)
  • Stick with a well considered investment strategy

 Protect your family

What are the possible consequences if die or disabled?

Where suitable plans not made

  • Sell or downsize home
  • Non-working spouse returns to work
  • Working spouse takes second job
  • Children may need to change schools or schooling arrangements
  • Cut down on luxuries eg holidays

Source: Understanding human behavior in financial decision making: Some insights from behavioral economics. Paper to accompany presentation to No Interest Loans Scheme Conference “Dignity in a Downturn” June 2009. Ian McAuley, Centre for Policy Development and University of Canberra Source: Mortgage default in Australia: nature, causes and social and economic Impacts. Authored by Mike Berry, Tony Dalton and Anitra Nelson for the Australian Housing and Urban Research Institute, RMIT Research Centre, March 2010



A few interesting facts about retirement

Given the financial demands of everyday life, planning your retirement may be a relatively low priority. You may also think that you have plenty of time to plan. But before you put off planning for your retirement any longer, here are some key facts you should consider.

Your retirement could last 30 years or more

A male currently aged 65 has a future life expectancy of 19 years and for females currently aged 65 it’s 22 years[1]. But these are just the averages and they are increasing steadily. As these trends continue, your retirement could stretch to three decades, or maybe even longer.

You shouldn’t rely on the age pension

The full single rate age pension only provides around 25% of average weekly male earnings. What’s more, qualifying for the age pension may become more difficult in the future, given our population is ageing.

You shouldn’t rely on an inheritance

Your parents may end up spending all their savings and may even need to downsize their home to help make ends meet. So, if you’re relying on an inheritance to fund your retirement, you could be disappointed.

You might not have enough super either

With some of your money going into super through compulsory employer contributions, you’re off to a good start. But assume that those employer compulsory contributions will mean you have enough super to get you through your retirement and you could be in for a nasty surprise. Research conducted by Rice Warner Actuaries revealed that Australia has a shortfall in super of close to $1 trillion, which means many Australians may not have enough super to fund their retirement.

Start planning now

Thankfully, with a bit of preparation, it’s possible to plan for a long and comfortable retirement. Strategies like salary sacrificing into super, making lump sum contributions or using a transition to retirement strategy, are all smart strategies to consider to boost your super, and some of them generally have tax benefits too. It’s also possible to use your super to start a pension that pays you a regular income. Some pensions even guarantee to pay you an income for the rest of your life, negating the risk of outliving your savings.

Talk to a retirement planning expert

The best way to see how your retirement savings are currently tracking, and find out what you could do now to increase your super for retirement, is to speak to a financial adviser. They can help you set realistic goals and put a plan in place to achieve them.

retirement planning expert

To find out more, contact Partners in Planning on 1300 880 100

Important information and disclaimer

This publication has been prepared by Partners in Planning

Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance or other decision. Please seek personal advice prior to acting on this information.

Information in this publication is accurate as at the date of writing (May 2015). In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way.

Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of the Group, nor their employees or directors give any warranty of accuracy, not accept any responsibility for errors or omissions in this document.

Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.

Australian Bureau of Statistics, November 2013.
Rice Warner Actuaries, ‘Longevity Savings Gap’,Sep 2012.



I Am Retired : But Am Worried About My Funds

With overseas economies in recession and our own economy also showing signs of slowing down, Australian retirees are nervous and with good reason. Many retirees’ incomes have been reduced by the global financial crisis.

This crisis has raised so many questions for retirees.

  • With the continuous fall in interest rates, is cash my best investment option?
  • Does my drop in income entitle me to Centrelink and pension benefits?
  • Which investments offer me capital protection?

That’s why it’s important to revisit your existing plan and make sure you’re maximising your retirement savings. This can help give you peace of mind as well as take advantage of potential Government benefits available to retirees.


What Do I Do Now?
Book a time with one of our financial planners to discuss your options 1300 880 100


Five steps to consider before entering an aged care home

If the need for residential aged care is nearing, following these five steps will help you make a smoother transition.

  1. Get your eligibility assessed

Before you can enter an aged care facility and receive Government support, your health situation must be assessed by the Aged Care Assessment Team (ACAT). The assessors are generally health professionals such as doctors, nurses and social workers who specialise in aged care.

  1. Find a suitable facility

Each facility is different, so visiting a few will help you to decide which one is the most suitable for you. Not all aged care homes will be able to meet your care needs. Also, some provide higher standards of accommodation and broader food choices, which generally come at a higher cost. These are called ‘extra services’ facilities.

  1. Work out the cost

While the Australian Federal Government provides some funding for residential aged care facilities, those who can afford it are expected to contribute to the cost of their care. The four different fees you may be asked to pay include:

  • an accommodation payment
  • a basic daily fee
  • a means-tested care fee
  • an extra services fee
  1. Seek advice

Moving into residential aged care can be a financially challenging time. However, obtaining financial advice can help reduce a lot of the stress

Business Owners

Business Owners

Keeping your business on an even keel

Profit margins, business loans, demanding customers and more! Smooth sailing in a business is hard enough without adding the complications of injury, illness or even the death of a business partner or key person.


That’s why every business needs business insurance.

We can show you how business insurance can help protect your business against events which may adversely affect its liquidity, profitability and ongoing viability.


Taking Care Of Business

A survey1 of Australian small businesses revealed a high percentage have inadequate business insurance. Although most business owners don’t hesitate to insure physical assets such as stock, equipment and premises, many aren’t insuring themselves or other key people in the business for illness, disability or death.

The survey also showed only 10% of small businesses had a documented succession plan and 46% had given no thought to succession.

Unfortunately, the consequences of not protecting key people involved in a business can be dire, often resulting in the demise of an otherwise viable business.


Risky Business

If an owner or key person is unable to work through illness or injury, it doesn’t take long for the business to be affected. The absence of that key person can put pressure on the rest of the team to pick up the slack or employ extra staff.

The flow-on effects can include slower production, rising costs, or reduced revenue. Left unchecked, a cashflow crisis can erupt as profits reduce, and the business struggles to pay creditors.


Three Levels Of Protection

To protect a business against these risks, there are three basic protection needs that should be covered.


Asset Protection

Asset protection insurance helps maintain cash flow, credit standing and assets if a key person in the business is out of action. It can provide money needed to repay debts to banks or other creditors.

It’s called asset protection because if you don’t protect your debts, your assets will more than likely be at risk, as they’re usually financed by a loan or credit facility and held as security for that loan.


Revenue Protection

Most businesses have one or more key people whose skill, knowledge, experience and leadership generate significant revenue. If they were unable to work, the business could suffer a drop in revenue, or incur costs to find and train a successor.

Revenue protection provides a lump sum to compensate for the loss of revenue caused by the absence of that key person. It also buys the business time to adjust and keeps it alive as a going concern. If a new person needs to be employed, the insurance can provide funds to finance the recruitment process.


Ownership Protection

If one of the owners of a business dies or has to exit the business because of illness, the continuing owners might struggle to negotiate and fund a buy-out of the exiting partner’s equity. This is often complicated by dealing with heirs or legal representatives of the estate, whose priorities may not include the ongoing value or viability of the business.

Ownership protection insurance, coupled with a legal buy-out agreement, provides the continuing owners with the legal right of purchase at a predetermined price. It can also help fund the purchase of the exiting owner’s equity. The exiting party has peace of mind they, or their family, are going to get fair value for their business if they die, or are unable to work due to illness or disablement.

The continuing parties benefit too. They can maintain control of the business without having to raise additional capital to take on more debt or be forced to hastily bring in new business partners.


Cover Up

To find out how you can look after your business, speak with your financial planner. If your business is starting out, they can undertake a business needs analysis and develop advice customized to your business. They’ll also be able to make sure, as your circumstances change over time, your insurance keeps up with what you need.


What Do I Do Now?

Book A Time With One Of Our Financial Planners To Discuss Your Options 1300 880 100


We can help you tailor a protection plan that will suit your business needs so you can be financially prepared for the unexpected. If you would like to arrange an appointment with a risk specialist please call us on 1300 880 100

The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions

Cameron Research Group, The Australian Small Business Market for Financial Services: 2008.


Australians in Los Angeles or Silicon Valley

Australians in Los Angeles or Silicon Valley


We are right there to ensure your financial planning needs are looked after over the long term

We look after two main groups

  • Australians in Film and TV
  • Australians in Silicon Valley

To Find Out More About The Benefits Of using our Partners in Planning PRIVATE WEALTH service , You Should Speak To One Of Founding Partners Paul Pellegrino DIRECTLY on 0421 3558 77


High Profile Individuals

High Profile Individuals

You may be a CEO, fashionista or actor – you are always in the spotlight. We know when it comes to financial planning your privacy is an important factor.

We pride ourselves on our down to earth approach to your financial planning

We have two golden rules we follow

  • Privacy: the strong need to maintain confidentiality throughout the whole process.
  • Flexibility: we know you don’t work a 9-5 job we work within your schedule and plan accordingly.

To Find Out More About The Benefits Of using our Partners in Planning PRIVATE WEALTH service, You Should Speak To One Of Founding Partners Paul Pellegrino DIRECTLY on 0421 355 877