More often than not the focus for retirement centres on finances. However, retirement planning is not all about the money; thought also needs to be given to how you are going to transition from a working life to a retired life.

Where the baby boomer generation is concerned, men have predominantly been the main bread winners for their families whilst their wives/partners have in the main been the stay-at-home partner who raised the children and took care of the household. As a result many baby boomer women have been able spend time developing new friendships and exploring options outside of work and children. Baby boomer men however, for the most part, have not been able to do the same. With such a heavy focus on their work life and with many of their social connections inter-related, many men now facing the end of their career are struggling with filling the gap that is left once they reach retirement.

Whilst travel between your home and workplace is usually considered private and therefore not claimable, there are a few exceptions.

A few such exemptions can ocur when:

  • Your home is considered a place of employment meaning you are travelling between two places of employment.
  • You start work from home and later travel to the office e.g. a consultant who meets clients at home and is required to attend the business premises from time to time.
  • The nature of your work requires you to carry bulky equipment which would be impracticable to transport under other circumstances e.g. a masseuse visiting clients and transporting the massage table.
  • Your work activities mean that your destination upon leaving home each day is frequently changing e.g. a sales person who leaves home and travels to the premises of a client before arriving at the office.

Whilst the majority of Australians are generally willing to become organ and tissue donors, less than 1% of people die in the hospital in the specific circumstances where organ donation is possible. Here in Australia, your family will always be asked to confirm your donation decision before the donation can proceed so, if you fall into that 1% and you do wish to be an organ and tissue donor, it is very important that you let your family know.

Members of the 360Private Investment Committee attended the Sohn Hearts & Minds Investment Leaders Conference earlier this month in Sydney. The conference has been running for 19 years in the United States and this year marked the first in Australia.

It was a unique opportunity to gather distinguished global and local investment professionals to share their expertise and exclusive investment ideas. Importantly, 100% of all funds raised through the conference went towards medical research charities.

Some of the ideas presented by the guest speakers were:

Parents naturally want to make sure that their kids are safe, secure, and healthy, and they will always want to be there for the if they're not. But what happens if your child is seriously injured or struck down with an illness and they need more of your time than your current situation allows? How do you take time off away from work to care for them whilst at the same time juggling the costly expenses of hospital visits, surgeries, and medications, without reducing your income?

Serious illness and inury to children impacts the family unit not just emotionally, but financially as well. You probably have trauma cover for yourself, but what about your children?

Child trauma policies cover a number of events and provide a lump sum payment, giving your family much needed financial relief so that you can concentrate on what is most important - your child's recovery.

Benefits will vary from provider to provider, but most policies will cover the following insurable events:

Planning for retirement means different things to different people, but for many Australians, it's not all about savings and superannuation. If that's the case, how are they expecting to fund their retirement?

It turns out that many Australians are hoping to receive an inheritance windfall to take the pressure off their financial future. In the meantime, their ommitment to a comfortable lifestyle is chewing up much, if not all of their disposable income. Smashed avocado anyone?

A recent study by IPSOS, in conjuction with MLC found that 17% of Australians say they're waiting for an inheritance. This expectation actively discourages them from making concrete financial plans to fund their retirement. Instead, they count on a potential cash windfall to clear their mortgage and leave them with extra disposable income for superannuation payments and investments to fund their golden years.

New annual caps and bring forward rules have replaced the Government's proposed $500,000 lifetime non-concessional contribution cap and there are some key changes you need to be aware of.

The Government's proposed lifetime $500,000 non-concessional contributions (NCC) cap has been replaced with new annual caps and bring forward rules. From 1 July 2017 the key changes are:


What is it? Who does it? And how does it stack up against other styles?

Value investing is buying companies at less than their intrinsic value. The discount of the market price to the intrinsic value is called the “margin of safety”.

For some it’s all about buying shares on low price-to-earnings ratios (PERs); others buy tangible assets for less than their book value.

The term Margin of Safety was first coined by Benjamin Graham, who is largely recognised as the father of value investing. There have been many adopters of this style and approach to investing including famous investors Warren Buffett, Charlie Munger and Seth Klarman, just to name a few. Berkshire Hathaway, the company run by Warren Buffett, is a standout example of the performance of value investing. Had you bought one share for US$19 back in 1964, that one share would now be worth approximately US$223,000.

Less than 20% of retiring individuals and less than 30% of retiring couples aged over 65 are able to retire comfortably. Are you in their number?

The Association of Superannuation Funds of Australia (AFSA) defines a ‘modest’ retirement lifestyle as one which is better than the Age Pension but where the retiree is still only able to afford basic activities. A ‘comfortable’ lifestyle is defined as when a retiree is able to “be involved in a broad range of leisure and recreational activities and to have a good standard of living through the purchase of things such as; household goods, private health insurance, a reasonable car, good clothes, a range of electronic equipment, and domestic and occasionally international holiday travel.” In both cases, it is assumed that the retirees own their own homes outright and are relatively healthy.

The obligations and responsibilities of an executor of an estate are extensive and if inadvertantly mishandled, there can be severe consequences for the executor. Do you want to put a family member or a friend under that pressure?

With the ATO increasing the penalties for compliance mistakes for SMSF’s, now is a good time to make sure you’re doing everything by the book.

Financial health check

Whether it be a query about superannuation, investments, insurance, mortgage or any other financial based questions, get 360Private to check on your financial health.

Client testimonials

We've relied on them for over 30 years

We have relied on the Team at 360Private for accounting and financial advice for over 30 years. Their sound strategy enabled our investments to perform well even through the Global Financial Crisis and we have benefitted from their knowledge of taxation law and superannuation. On a day to day level, we are always able to get prompt replies to any accounting matters relating to our business and everything is explained in language we can understand, rather than in "accountant speak". Our children now have their own businesses too and they also rely on 360Private.

- Sandra Haese, Director, Haese Mathematics

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