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Advice, PAC Financial

Smart Money Moves: How to Strengthen Your Financial Health in 2024

There’s never a bad time to look at your financial health, but the start of a new year helps to focus minds and give the process a kickstart.

Financial planning needs to feel clear, achievable and never overwhelming. If there’s room for improvement, the best advice is to get started straight away and avoid putting off a long, hard look at your finances.

Read on for all the financial health strategies you need for making short and long-term financial objectives by identifying your key priorities.

PAC Financial, Testimonial

Client Video Testimonial: Curt

Empowering Futures: Curt and Kylie’s Journey with PAC Financial
Meet Curt, a seasoned chef, and his partner Kylie Fisher, together for 12 years with three beautiful children. In the culinary world for many years, Curt found himself at a crossroads when he began seeking solutions to insurance and financial advice questions. That’s when PAC Financial entered the scene, changing their lives in ways they never anticipated.

Finance Planning, PAC Financial

How to get the most out of your meetings with your financial adviser

To get the most out of your financial adviser, be prepared. Gather all the current information you have about your financial circumstances (and your partner’s), including:

  • Income: wages, salary, interest, rental income, government benefits and dividends
  • Expenses: household budget and expenses (such as food, clothing, telephone, internet and council rates) and lifestyle expenses (such as gym memberships and annual holidays)
  • Assets: your home, car or other assets of value
  • Debts: mortgage, credit card and loan repayments
  • Investments: statements from shareholdings, other investments and bank accounts like term deposits
  • Insurance: life, total & permanent disability (TPD), trauma and income protection policies
  • Superannuation: annual statements from your fund
  • Estate plan: Will and power of attorney
  • Professional advisers: your accountant and solicitor
Advice, Finance Planning, PAC Financial, Uncategorized

Why We Often Argue About Our Finances

Being in a relationship comes with its pros and cons.

When single it’s me, myself and I making the decisions. There would be very few couples who claim they never argue – some might say that would be boring anyway. The real disputes occur when the arguments are about finances and if they occur too often, it can become stressful and draining.
Today we look at the three main reasons couples argue about their finances. And how seemingly ‘irreconcilable’ differences might be handled.

Age Pension, PAC Financial, Retirement Planning

Five Reasons Age Pension Applications Can Fail

Being entitled to an Age Pension doesn’t mean you’ll automatically receive your fortnightly payments from Day One of your retirement.

Being entitled doesn’t even mean your application will be successful. There are quite a few hurdles to overcome if you are planning, or in the midst of, an application. There are five main reasons why Age Pension applications can fail I would like to share how to avoid them.

Don’t double-declare your super and your income stream
Centrelink asset and income tests can seem complex. But one hard and fast rule is that you do need to declare (under assets) your superannuation account balance. Centrelink will then deem the amount this balance earns (see current deeming rates here ). What you don’t have to do is to declare the income you drawdown from your super, in the form of an Account-Based Pension or other type of income stream. Yes, this is income, but as Centrelink has already counted it (by deeming an income on your assets), it doesn’t do this twice. Many applicants are surprised to get a knockback due to failing the income test. Some shouldn’t fail it, but they have incorrectly declared income already taken into account.

Federal Budget, Finance Updates, PAC Financial

Federal Budget Briefing 9th May 2023

On Tuesday 9th May, Labor handed down its second Budget for 2023-24. The announcements were concentrated around providing support to ease the cost of living.
Below are some of the key announcements from the Budget and how these might apply to you if they become law.

Disclaimer: These are currently announcements only; the successful implementation of the measures will require successful negotiation through the Senate where the Government does not hold a majority. The final version of these measures may differ from the current announcements.

PAC Financial, Testimonial

Client Video Testimonial: kurt and Kylie

At PAC Financial, our experienced financial planners are committed to helping you achieve your financial objectives.
Whether you’re aiming to build your retirement savings, invest in property, or prepare for your children’s education, our team has the expertise to support you at every stage. With PAC Financial, you can rest assured that your financial future is secure. Let us collaborate with you to design a tailored plan for your financial prosperity.

Finance Planning, PAC Financial

When Is the Best Time to Visit a Financial Planner?

Life can throw any one of us a curve ball. Just when we think everything is going swimmingly, a death, redundancy or unexpected expense can knock us sideways.

With these kinds of life events, financial challenges can come raining down.

But, even at times when we mundanely trundle through life, it’s well worth taking stock and giving our financial well-being a health check. It’s arguably as important to visit a financial planner in the good times. Forewarned is forearmed, after all.

Read on to find out the best times to get the benefits a financial planner can bring you for a brighter financial future.

Finance Planning, PAC Financial

What To Look for When Choosing a Financial Planner

Our financial situation can ebb and flow like the tide. When we’re young and carefree, we tend to see pensions as a low-priority consideration. The career-minded may build up sizable disposable income over time.

It’s not unusual to have financial blips before retirement. Kids, mortgages, redundancy or sickness may all have an impact. Choosing a financial planner should involve getting all your bases covered no matter your time of life or the size of your bank balance.

Read on for the tips you need to find a financial planner who’s always going to be the right fit.

PAC Financial, Testimonial

Client Video Testimonial: Jaye Forrester

Welcome to PAC Financial, where our team of experienced financial planners is dedicated to helping you reach your financial goals.
Whether you’re looking to save for retirement, invest in a new property, or plan for your children’s education, our team has the knowledge and expertise to guide you every step of the way. With PAC Financial, you can trust that your financial future is in good hands. Let’s work together to create a personalised plan for your financial success.

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