by James Coyle | Nov 29, 2021 | Retirement Advice
And how to avoid them The team at Retirement Essentials has spent years helping our members to manage their retirement finances, particularly in regard to maximising their benefits and their ongoing income. Our experienced team provides daily support and this has...
by James Coyle | Nov 29, 2021 | Centrelink Age Pension
Retirement money mistake Number 5 can sometimes cost you the most. This happens when you don’t know what you don’t know and make decisions based on a poor understanding of the rules. Remember the excitement of turning 21? The best part of becoming an adult was the...
by James Coyle | Nov 29, 2021 | Centrelink Age Pension
Australian household debt is the highest in the world. And at an all-time high at the time of writing. The ratio of household spending to income is now above 200%. Yes that means on average people are spending double what they are earning. . How did we get here and...
by James Coyle | Nov 29, 2021 | Centrelink Age Pension
On January 1, 2017, there was a major change in the assets test for those on an Age Pension. Whilst the assets test threshold increased (the good news), the taper rate doubled, meaning that those on a part pension, with assets over the threshold, lost their...
by James Coyle | Nov 29, 2021 | Centrelink Age Pension
The first big mistake is assume you are not entitled to anything. Two thirds of Australians will be entitled to a full or part Age Pension at some stage in their life. And for the remaining third of Australians who do not currently qualify, at least half will qualify...
by James Coyle | Nov 29, 2021 | Centrelink Age Pension
The second money mistake is to not know the details on timing – this can have serious consequences if you get it wrong. The Age Pension used to be much simpler, including the qualification age of 65 for those no longer working. It’s currently 66.5 and due to...
by James Coyle | Nov 19, 2021 | Retirement Income
There’s an interesting crossover between rising prices and rising job vacancies that may have a major impact on your retirement savings. In the USA the inflation rate is over 6% – the highest rate for many years. Australia is not immune from such increases with...
by James Coyle | Nov 19, 2021 | Planning for Retirement
Age care, to paraphrase a quote, sounds like another country. Most of us try hard not to think about it – let alone consider whether we will be able to afford it. But the need to know how aged care works and what is available is very real. And this was brought...
by James Coyle | Nov 19, 2021 | Retirement Advice
Risk tolerance is a commonly used expression. Many assume it means that you are either a high risk or low risk investor. And that your rating is related only to returns. But this is not the case. Retirees and those planning retirement face a bewildering array of...
by James Coyle | Nov 12, 2021 | Centrelink Age Pension
Centrelink uses deeming rates to determine how much you earn. These earnings are added to any other income streams and this total is used to assess your age pension eligibility and the rate you will be paid. The reason a ‘deeming rate’ is used is because Australian...
