When can I retire?
Have the last few years played havoc with your superannuation savings?
Although most super funds experienced positive returns during 2009, it will probably take a few years for many investors’ lump sums to return to their 2007 balances. If you have already stopped earning an income as a retiree and are drawing on your superannuation balance, it is difficult to regain those losses.
So let’s have a look at how much money you might really need for retirement.
You can estimate your requirements using a ‘superannuation calculator’ found …Read More
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Investing In Property = Investing In Time
You’ll find that when you invest in property you are really investing in time so take a long term view and remember that investing in property is usually a long term strategy. Most of us are prone to be driven by emotions when purchasing an investment property, so seek professional investment advice and discuss your financial situation with an experienced investment adviser to guide you towards making the right decision to make your long term property investment prosper and work for you.
Investing in property offers us many attractions, it is less volatile than shares, it generates capital growth and generates income by having your property tenanted and there can also be tax advantages …Read More
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Managing Your Home Equity
A Home Equity Loan can be a powerful tool to build your wealth. Here is an example to show you how:
Michael and Denise purchased their home in 1995 for $220,000 with a mortgage of $180,000. By 2001 the house had increased in value to $320,000 and they had reduced their mortgage to $160,000, giving them equity in their home of $160,000.
At that time they borrowed a further $80,000 against the value of their home, as a deposit on an investment property. Over the coming years the value of both properties increased …Read More
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2010: What’s ahead?
2009 was an extraordinary year. Australia, luckily, was one of the few developed nations to avoid a recession as a result of the Global Financial Crisis (GFC). Will 2010 be as taxing on our nerves?
No matter how bad it may have been here, the GFC was significantly more severe in the US, UK and Europe. Certainly, some of our international counterparts continue to suffer weakness in their economies and very high unemployment.
However, it looks like the worst is now behind us, with most economists predicting growth (albeit not strong growth) and falling unemployment during 2010.
For Australia in particular, the future looks …Read More
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Are You Wasting Money on Insurance?
It’s the middle of the night and you’re jolted awake by extreme pain in your chest. You feel like the life is being crushed out of you … you immediately realise you’re having a heart attack. Your partner frantically phones 000 and as you lay clutching your chest waiting for the ambulance to arrive, all you can think about is how your family will be supported if you die.
The pain intensifies.
Hopefully this will never happen to you, but what if it did? Take a moment to think about how your family’s living expenses would be met if your income stopped tomorrow.
The average Australian household spends up to one-third of its gross income on mortgage repayments. Most of us would rely …Read More
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Christmas Plum Pudding Recipe
Make sure that you have the right recipe when it comes to your Christmas Finance!
Ingredients
Good dash of savings or cash, combined with a sprinkling of credit card – not too much or you will ruin the flavour of the Christmas cheer!
Keep within your budget, remember it’s about the thought not the size or value of your gift.
If you feel you can’t stick to this recipe, give Mcorp Money a call and we’ll see what Santa can do for you to make your Christmas more enjoyable to ensure you are left with a great taste in your mouth and not the ugly sour taste of debt.
Now, if you have been good, try the following recipe and enjoy! …Read More
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Why pay bond, how much is it and where is it held?
Tenants are required to pay bond as a security deposit.
If tenants fail to keep the premises clean, cause damage to the property, or don’t pay rent, the Landlord or Agent can claim some or all of the bond at the end of the tenancy. …Read More
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The incentive to succeed
It’s not what you earn but what you do with it that matters.
Many of Australia’s wealthiest people started out with nothing more than a will to succeed. Despite humble beginnings they used their limited financial resources to great effect and built empires. Yet there are many people on high salaries that have little to show for it after a lifetime of work. …Read More
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Market Gone Mad
The market is still very unpredictable, 25 weeks straight in the 80%+ clearance rate which this week being 79%. With interest rates going slightly up and the grant finishing up on 6th December 2009 it will be a volcano with prices to rocket in the next 3-4 weeks. …Read More
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Why not become an owner instead of a renter?
Did you know that you can currently still receive the Government’s help in being handed some cash in your hot little hands to put towards your own little piece of bricks and mortar.
Not only are the Government still being reasonably generous with these handouts, but there’s more (just like the steak knives!) however, this will sort of end around the 31st of December 2009 so you have to be quick. …Read More
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