James Coyle

James has over 35 years experience in financial services with particular expertise in two of the key components of retirement finance - Superannuation and the Age Pension. He is passionate about providing the guidance and support that can help older Australians enjoy their best possible retirement. He lives in regional Victoria surrounded by dogs and chooks.
Giving money to family: Will you lose your Age Pension?

Giving money to family: Will you lose your Age Pension?

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Sharing money with your loved ones has to be one of life’s greatest joys. But being penalised for doing so seems a bit unfair. We’ve recently received many questions about gifting and loans. Maybe its associated with rising cost of living and general housing affordability? So how do you stand if you want to share your kids’ inheritance while you are still hale and hearty?

The most important thing to understand is that it matters how you manage this – and that your Age Pension entitlement could change depending upon whether you decide to give or loan money.

Deeming rates: Time to plan ahead?

Deeming rates: Time to plan ahead?

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Deeming rates are no longer such a hot topic of conversation amongst retirees. And there’s a good reason for that. 

Going back a couple of years, they were a constant source of frustration. This frustration has largely evaporated. That’s because, during the height of economic uncertainty in the early days of the Covid pandemic, the then-Morrison Government took the decision to freeze deeming rates until 30 June 2023, to give retirees some sense of stability. This ‘freeze’ was subsequently extended by the Albanese Government until 30 June 2024.

Before the freeze, many retirees described deeming rates as punitive. This is because interest rates were at all-time lows, and with many retirees invested in cash, they were earning little to no interest on their savings. But Centrelink was ‘deeming a higher rate than they actually earned.

Barbeques and money: Pass the tongs, not the advice

Barbeques and money: Pass the tongs, not the advice

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The team at Retirement Essentials is always interested in how our members seek advice on money matters. And which type of advice works best for you.

Last week we were contacted by Roger, and with his permission (and a change of names), we’re sharing some of the detail of his not-so-happy tale. 

Roger has managed his own home handyman business quite well over the years. Now he’s 65 he has chosen to work just three days a week. He came to us with a concern about superannuation about which he felt he needed an independent view.