Wealth Creation Blogs Worth Sharing.

The last few weeks have been extraordinary to say the least. We’re battling a world wide health crisis and we face uncertainty in many aspects of our lives.  It’s true that there are simply some things beyond our control and we will more than likely see many changes to our everyday lives for the remainder of 2020 and beyond. So, what can be done?  On the other side of this, many people will be left with dramatic financial stress, whether it be periods of unemployment, depleted cash reserves or battered superannuation balances.  And for many, timing will be an issue. Those who were weeks ago contemplating retirement may now need to change their plans. And those that are still accumulating for retirement have more than likely just seen their investments and superannuation return to levels of 5 or 6 years ago. Essentially the clock has be wound back in one way or another.  It may well be a good time to take stock and lay some foundations for when thing...

Say goodbye to the text and email back and forth tag game to find the perfect meeting time. Your job, your lifestyle, your family circumstance can change quickly.   Your super should reflect all your life changes as quickly as you do. In the new year, make it your resolution to have a check up on your latest super statement + insurances.   Just tap the Calendly link to book your 1 - hour mining super review with me.   Need a return Uber ex Brisbane CBD?   It’s on me.  Just let me know when you make your online Calendly appointment. The wet season in Queensland normally means December through to February is particularly slow.   That being the case, why not set aside an hour during your next hitch break to review your latest super statement?  Make a Calendly appointment with me for an online chat, a phone conversation or face to face appointment at our Hamilton Office for a coffee (I make a pretty mean latte)... ...

Since 1 July 2005, most employers have been required to give their employees a choice of fund for their superannuation guarantee contributions. Only if the employee fails to choose or chooses a fund which cannot be used by the employer, will the employer be able to choose the fund. You are stuck no more.    Since “Super Choice” was introduced, there is now a great deal of competition in the superannuation market given that employees can choose where to put their money. A competitive market is good for consumers with an almost limitless choice of highly developed options for employees to choose from. So, what does this mean for employers?   Many employers have identified Super Choice as an opportunity to offer their employees a more individualised option rather than then simply nominating an off the shelf industry fund. At Hindsight Wealth we offer this service to employers.   We come in, meet with each of your staff members privately, create a...

Last week I read an article titled “Why Aussies aren’t rushing to fill the thousands of vacant mining jobs.”   See the below article extract: “As the limping industry picks up again, and global companies including BHP, Rio Tinto and Fortescue start construction on new mines, a lot of Aussies who made those exact companies millions of dollars aren’t as ready to jump on a plane. Five years ago, Australia was in the middle of one of its biggest mining booms in history. Thousands of people became fly-in, fly-out (FIFO) workers, spending four weeks battling through 12- hour days and then jetting back home for a few days to see their families — before doing it all over again. The salary was great, often cracking more than $150,000, but the sacrifice was even greater. The FIFO profession earnt itself such a bad reputation that a number of Aussies who worked in the first boom have said there’s no way they’d go back again.” Obviously, this is not a new school of ...

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 th...

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 ...

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 t...

If you have made personal super contributions this financial year, you may be eligible to claim these contributions as a tax deduction. If you are eligible to claim on these contributions, you need to submit  the ATO's Notice Of Intent To Claim For Personal Superannuation Contribution Form  with your super fund   and receive acknowledgement from the fund  prior to  lodging this years tax return. That form you need is below.   Just tap on it, Save As, so you can print it out and complete. I would be delighted to assist with lodging your completed ATO form with your super fund or to discuss this opportunity with you.  Tax time is just around the corner - don't delay!  It cannot be claimed retrospectively.

It is not long now till the end of the financial year.  Now is the time to think about what opportunities and strategies are available to improve your financial position. If you’re planning on contributing to super, you may be eligible for a tax deduction for the current financial year provided you do so prior to June 30.  If you hold investments such as a rental property or managed funds and have used investment debt to purchase them, you may choose to pre pay the next 12 month’s interest.  This may allow you to bring forward those deductions and use them this year.  This could prove to be a wise strategy if you don’t have sufficient deductions for the year - particularly if you find yourself in the highest tax bracket.   No one likes paying tax, however if you’re paying tax it means you’re earning money which is a positive thing.  It’s paying “unnecessary” tax that we should avoid.  Don’t let these next weeks left of June simply ...

A complimentary review of your super and insurances is the first step we take with you at Hindsightwealth.  Put it on your new year resolution  "to - do" list. Andrew O’Brien and Hindsight Group Pty Ltd t/as Hindsight Wealth Pty Ltd (ABN 88 168 442 528) are Authorised Representatives of Affinia Financial Advisers Limited ABN 13085335397 & AFS Licence No 237857. The material contains general advice only and the consumer should consider the PDS and whether the product is appropriate prior to making a decision to buy.

Growth, growth and more growth is what we are about at Hindsight Wealth. If your super performance doesn't quite look like the graph above, perhaps it's time to do something about it? The last 12 months really should serve as an excellent test for your super fund. Investment markets around the world continue to perform strongly. 2017 is continuing to be a very positive year for domestic and international investment markets, and this should have translated to strong returns on your super fund. You should consider structuring your super fund to take advantage of this by investing in a personalised portfolio that is appropriate to your investor profile with your funds spread across all the different asset classes.  At the time of writing, the local All Ordinaries Index (a measure of the broader Australian stock market) is sitting just over 6100 points. An increase of some 14% from its level 12 months ago.  Whilst markets have been performing ...

I have had a few clients of late take me up on my offer of a  “Uber Ride &Chat” meeting.   It’s all designed to make your time and our meeting more valuable, hassle free and easy to review your latest super statement & insurances.  How it works.  Let’s make a time to meet at the Hindsightwealth Hamilton office. I’ll arrange and pay for in advance, your Uber ride from Brisbane CBD return. I will text you and screen shot the Uber confirmed pick up time, location and your Uber Driver detail. They will deliver you safely to Hamilton. Let me know your coffee or tea preference when we make our appointment – it will be ready waiting for your arrival. Lunch is on me.  A client opted for a lunch time meeting and needed it capped to 1 hour. No problem at all. In fact, we have a café close by that delivers great sandwiches which I can arrange for you if you choose to visit over lunch. Should we need to meet again  – need...