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Showing posts from July, 2018

Keeping Up With Life Changes.

The harsh reality of working in Australia’s resource industry is that it can be highly volatile. One minute you’re enjoying working in your dream job, the next minute you’re left scratching your head as to why you’re no longer required. 
I’ve spoken with many people in our industry who have been impacted by this personally and whilst the majority saw it coming, it’s still a difficult situation to deal with.
So, what can be done? There are perhaps some things you can do in relation to your superannuation and insurance.  With any change in circumstance whether it be employment, starting a family, buying a house, you should review your superannuation and insurance needs. 
For example, you’ve may have just left the mining industry, or have taken on a new role in the industry or with your current employer, it’s imperative that you review your personal insurances. 
Chances are your salary has changed and from the insurance companies point of view your occupation rating may have changed. What…

Are You protected?

I was in the field recently as SSE for a small exploration program. Our morning toolbox talk and risk assessment served as a reminder of just how many hazards we face when working in the resources industry.  It really can be dangerous at times. Of course, we put systems and controls in place to mitigate these risks, but the reality is, some risk still remains.
Protect your most important asset – your income.   Your ability to earn an income is your most important asset because your lifestyle depends on it. However, if you had to stop work tomorrow because of an accident or illness, would you be able to continue to pay your bills and afford the lifestyle you currently enjoy? What are the chances?More than 60% of Australians will be disabled for more than one month during their working life and more than 25% will be disabled for more than 3 months. Income Protection cover available through Hindsight Wealth. Income Protection cover pays up to 75% of your income to help you and your family mee…

When Can I Access My Super?

I frequently get asked the question “When can I access my super?” After all, it’s your money, you’ve worked hard for it, and no doubt you want to get your hands on it when you can.  Put simply, to access your superannuation, you need to meet a condition of release. For most people, this will be triggered when you retire and meet preservation age as per the below table:
So for those of you who are thinking “that’s ages away, why worry about it now” you should use the extra time you have up your sleeve to your advantage.  Even a small change in the annual return on your superannuation can have a huge difference when you retire. For those of you who are a little more advanced through your working life and are approaching preservation age, it’s important you don’t wait until the last minute to plan how you will access your super.  You need to be smart about it to ensure you access your superannuation in a way that is tax effective and will last you throughout your retirement years. Regardless …