Harvard Wealth is approaching its 8th anniversary on the 20th of August and this will also mark our founder, Chester Macdonald’s 20th year of living in Rockhampton as well as Chester’s 36th year in the financial services industry! So 2016 is a big one for us here at Harvard Wealth and we want you to celebrate with us! These milestones also demonstrate that Harvard Wealth has weathered the storm of the global financial crisis. We are moving from strength to strength and we are even looking to put on another Administration Team Member shortly, which we are very excited about! In addition to our new Admin Team Member we are also bringing on board an experienced Business Consultant to head up ou
On 3 May 2016, the federal government announced an IMMEDIATE cut to the non-concessional contributions cap, including a cessation of the bring-forward rule. Australians are now subject to a lifetime non-concessional cap of $500,000, rather than the annual cap of $180,000 (and the bring-forward rule allowing up to $540,000 over a 3-year period for under-65s). Although this change has immediate effect, from 3 May 2016 (7.30pm), it is still subject to legislation and subject to the Coalition winning the July 2016 Federal Election. With 4 days until the End of the Financial Year, if you are unsure of whether to make an non-concessional contribution to your Super, then please contact Chester Macd
Frugality means the quality of being economical with money or food and this was a term that our Grandparents lived with every day seeing money was scarce. So if you are trying to reduce your debts as quickly as possible, then perhaps practicing a little frugality will help you to get there sooner. Click the image below for 47 Tips from our Grandparents Era that will have you saving more in no time.
Estate Planning is fundamentally about dispersing your assets to those that you wish to receive them, in the best possible fashion. Now when you are considering your estate, there are simple things to be mindful of such as ‘Joint Names’ or ‘Tenants in Common’. Tenants in Common means that you are sharing an asset and if you were to pass away then your estate will benefit from your share, not the other person directly. Whereas, if the same asset was in joint names and you were to pass away, the asset would pass directly to the other party. A smart time to purchase an asset in joint names is when you have a husband and wife that have children from previous relationships. If the plan of attack
While many Mums and Dad's might be secretly looking forward to the school holidays next week because it means they'll get a break from school lunches, pick ups/drop off's and homework time, one thing they may not be looking forward to is the expense of yet another term - or the thought of next year's school fees! The Women's Agenda has put together 5 smart ways to save for your kids’ education. If saving for your children’s education is a financial priority for you, Click HERE to read some ways Jenny Cattach recommends to go about it over a number of years.
Ok so you have your Will planned out and now you have to select an Executor … Who should you choose and why? Choosing the right Executor can be challenging. When the time comes, we recommend that you consider the following questions:
* will they know what they are doing
* will they have the sense to get advice along the way if they need it
* will they have time to do the work
* and finally, do they want to be an Executor?... If you would like some independent, non-bias advice to assist you with your decision, then please feel free to contact us to discuss your thoughts.
Future Wealth is a concept that takes you from where you are today, to where you want to be in the future. It is about building wealth and building wealth simply means building your financial resources. So to do this, firstly you need to determine what you want to achieve. Take Steve for example, he is currently forty and by the time he turns sixty he wants to pay off three investment properties. So now that we know where Steve wants to go in the future, we can put plans i...n place and set sail to achieve Steve's Future Wealth goals. It is important to keep an open mind along your Future Wealth journey because things in your world can change at any time. You may complete some extra study or
Insurance is one of those necessary evils and there are a number different types of insurances available that you need to consider to see if they are right for you and your current situation. The first one is Life Insurance, which is paid to your surviving beneficiaries when you die. Then there is Total & Permanent Disablement Insurance, also known as TPD. There are two important definitions that you need to understand with TPD – ANY occupation and OWN occupation. For example, as an Advisor the cover that is held within my Super Fund is Death and TPD. My Super Fund also states that the TPD is defined as ANY occupation, so if I couldn’t be an Advisor however I was still capable of driving a t