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Personal Finance

Today

Maybe you thought hard work and competence would speak for themselves. They don’t.

The $1 million cost of not asking for a pay rise

Hundreds of thousands – even millions – of dollars quietly disappear over the course of a career. It’s a financial catastrophe in slow motion.

Yesterday

For most Australians and UK expats, it’s remarkably affordable.

A $480,000 opportunity for Australians who did a stint in London

Thanks to an unusual provision in UK law, Australians who worked in the UK for at least three years may be eligible to claim a state pension.

This Month

Shouldn’t childcare costs come from “family money”?

Should mum or dad pay for childcare?

Having a baby is a pivotal point in moving from casually pooled finances to a family money system.

Retirement planning

This is what a $5 million retirement budget looks like

We asked financial adviser Olivia Maragna to devise a plan for a couple entering retirement with a generous super balance.

What to do when disaster strikes your holiday house

While loss or damage to a beloved family retreat may not be as wrenching as a hit on your main home, the process of getting it fixed has challenges that can be equally infuriating, baffling and stressful.

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How to get a tax break on your EV before it’s too late

The tax break means car buyers can afford an EV that’s $20,000 more expensive than the petrol version. Here’s how to take advantage of this perk.

Fighting over finances? You might need a money date

Coming to the meeting with the mindset that you’re going to be able to figure it out together is crucial.

Building wealth requires endurance and patience.

5 ways financial planning is like marathon training

Elite athletes understand that high performance stems from the compounding effect of many good decisions. The same principle applies to wealth building.

Helping kids onto the property ladder can be tricky.

We’re helping our son buy a home with his girlfriend. What if they split?

Giving your kids a hand to get on the property ladder can be complicated if there’s another party involved.

Here’s what to do every year, month and day to achieve your goals.

Habit stacking and the yearly, monthly and daily steps to hit goals

What do training for an ironman competition and hitting your money targets have in common? More than you might think.

Investors may want to ride the property super cycle.

How investors can capitalise on the property ‘super cycle’

The structural imbalance between supply and demand in the housing market means the only way is up, and it might be time to reconsider Melbourne.

Customers are now routinely presented with a payment terminal featuring several tipping options.

Here’s a tip: people resent being watched while they press ‘no tip’

Payment terminals with automated tipping prompts have increased tipping here – but new research shows customers hate the “tip surveillance” that goes with it.

The rules for professional services partners and high-earning employees are different when it comes to using family trusts for income.

I’m a high earner. Can I use a family trust to lower my income tax?

The rules for professional services partners and high-earning employees are different when it comes to using family trusts for income.

Property investing gives you great leverage and a home to call your own, while shares offer a lower entry point, diversification, and greater liquidity.

Five shares that have outperformed property over the past five years

Property will always have a place in a well-rounded investment strategy, but the idea that it is the only way to build wealth is outdated.

February

Investors can buy into private capital funds for as little as $2000.

Why ASIC is suddenly uneasy about your retirement savings

The corporate regulator just released its first major look at “opaque” private markets. This is what we learned.

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Retirement spending is a bit of a maze to wind yourself through, but having confidence is key to living a life with lower financial anxiety.

Six big retirement risks and how to overcome them

Growing older means less time to recover from market crashes but ultra-conservatism carries its own risk.

SMSFs should analyse the performance of their fund’s investment strategy relative to what is happening in the market.

How does your SMSF stack up?

It is impossible to deliver a return each year consistently exceeding what you would receive outside a SMSF if your balance is less than $200,000.

The average uplift in age pension payments among AMP clients has been $8000 a year.

Doing this could increase your retirement income by thousands

Retirees may not know that using their superannuation to buy an annuity can boost their Centrelink age pension payments.

Five things those who retire early have in common, other than good pay

Want to say goodbye to working for a living? Make sure you understand why first, and then it’s time to get out the calculator.

Those big ideas that touch on the meaning of life, might not be what you expect to hear from a financial planner, but you need to think about them before you retire.

Do I need a financial planner and how do I find the right one for me?

Financial advice isn’t cheap, so if you’re going to get some help with your money, here’s how to make sure it pays off.

At your age, you must draw a minimum of 5 per cent of your balance, and that will increase as you get older.

We have $4m in super. How much can we safely spend each year?

Nobody knows how long they will live, which is what makes budgeting in retirement so tricky.

Pay down the mortgage or start investing - it’s a perennial questions Australian face.

What to do next if you’ve paid off half your mortgage

Repay the mortgage in full, invest or bulk up your super? This is what financial advisers say.

The major banks moved quickly to announce they would pass on the Reserve Bank of Australia’s rate cut in full.

How to use the rate cut to slice nearly $100,000 off your mortgage

Clever borrowers could shave off up to two years and about $96,000 from a $1 million mortgage with just one simple step.

Both Labor and the Coalition are focused on building entry-level homes in emerging areas.

Major parties’ housing policies will trap young buyers in lemons

A glut of entry-level housing could deny first home buyers the sort capital gains that made their parents wealthy.

We expect shares and bonds to contribute more evenly over the next 10 years.

This could be the decade of the 50/50 portfolio

It’s been a fun tech-fueled ride on equity markets but now’s the time to buy more bonds.

Original URL: https://www.afr.com/wealth/personal-finance