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WEALTH ACCUMULATORS

Retirement is close enough but too far away to pro-actively aim for. However, the desire is there to build wealth and if a mortgage is still there then the key focus is paying it down and juggling the demands of today.

Watch the video below to learn more about this life stage.

 

 

BOOST YOUR SUPER

Would you like to start contributing more to your super?

Adding contributions to your super directly from your pre-tax salary can be an easy, tax-effective way to top up your super. This is called salary sacrifice.

What you need to know

When you put in a place a salary sacrifice arrangement, your payments will be made automatically by your employer. So it's an easy way to get into a good habit. Plus you may be able to save on tax:

  • You do not pay income tax on salary sacrifice contributions to super which can represent a significant tax saving particularly if you are on the highest marginal tax rate
  • Sacrificing a portion of your pre-tax salary into superannuation could enable you to lower your tax bracket and, thus, reduce the overall amount of tax you pay
  • When you pay less tax, you have more money to invest which gives you the potential to increase your returns

Getting started

  • Make sure that your employer will allow you to salary sacrifice, and that your employer won't reduce the amount of super guarantee contributions they pay on your behalf.

Count on us

A Count adviser can help you:

  • Put in place a salary sacrifice arrangement
  • Boost your super using smart super strategies

 

GET A HEAD START FOR YOUR CHILDREN

Would you like to create a nest egg for your children?

It is becoming more and more difficult for young people to buy a house without help from their parents. And future generations may have to rely solely on their own money to fund their retirement. So building a nest egg for your children has become more important than ever.

What you need to know

  • The effect of compounding means the earlier you start investing for your children, the easier it is to create wealth. So it makes sense to put in place a regular savings and investment plan.
  • You can start making superannuation contributions for your children while they are still under 18. Generally no tax deduction is available; however with the benefit of compounding, a relatively small contribution at birth can grow into a significant nest egg by the time the child reaches retirement.
  • For example, if you were to contribute $1,000 per year from birth to age 16 (a total of $16,000), by the time your child reaches age 60 the nest egg would have grown to $66,595 in today's dollars (assuming inflation of 3% and a gross 7% annual return). A very handy head start for retirement!

Getting started

Consider investing in your name rather than your child's name. In most cases, investing in the name of a child is inefficient for tax purposes, as penalty tax rates apply to 'unearned' income for people under 18.

Count on us

A Count adviser can help you:

  • Start saving for your children's future

 

SAVING FOR EDUCATION

How can you make education costs more affordable?

A recent report* estimates the cost of raising 2 children from birth to when they leave is $812,000. Education is a large part of these expenses, particularly for higher income families who may send their children to private school. Aside from school fees, there are regular expenses such as uniforms, equipment, and excursions that can affect your budget significantly, and with tertiary education these costs might be around for more than 15 years!

What you need to know

Putting in place a regular savings or investment plan as soon as possible is the key to making sure you can afford to give your children the education they want. There are a range of options available including:

  • Managed funds
  • Investment bonds
  • A trust
  • Education funds

Getting started

  • Regular contributions are key to saving for your child's education. Work out your budget and how much you can afford to save each month
  • Consider investing in your name rather than your child's name. In most cases, investing in the name of a child is inefficient for tax purposes, as penalty tax rates apply to 'unearned' income for people under 18.

Count on us

A Count adviser can help you:

  • Start saving for your children's future in a tax effective way
  • Put in place a regular investment or savings plan

*"The cost of raising children in Australia", AMP. NATSEM May 2013.

 

RENOVATING YOUR HOME

Would you like to renovate your home?

As your family grows you may want to renovate to create more space. Or you may decide renovating is a better option for you than moving house at this stage in your life.

What you need to know

Renovating can be expensive but there are a number of things you do to help you fund the changes you want to make to your home:

  • If you've been making additional repayments on your home loan above your required repayment amount, you may be able to withdraw that money and use it to fund your renovations
  • You may be able to find a more competitive home loan. By reducing your interest rates you can save more money towards your renovations

Getting started

  • Get a good understanding of how much you will need to carry out your renovations and make sure you include a buffer for cost overruns

Count on us

A Count adviser can discuss the options available when you're considering renovating your home.

 

BUILDING WEALTH FOR THE FUTURE

Investing your money can help you make your savings work harder for you. a good time to consider starting an investment portfolio so you can start building wealth for you and your family.

What you need to know

One of the easiest ways to build your investment portfolio is to simply keep adding to it on a regular basis. With a regular investment plan you can start small and build your investment over time. And by putting money into an investment portfolio rather than a savings account you could earn a higher return.

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A Count adviser can help you:

  • Develop strategies to suit your goals and needs to help you invest your money

 

INSURING YOUR FUTURE

Did you know you could get paid even if you can't work?

With a family to look after, unforeseen events and a mortgage to manage you can't afford to be off work. If illness or injury stopped you from working for an extended period, could you keep paying your bills?

Prepare a will

A will not only looks after the distribution of your assets once you pass away, it can also be used to appoint a guardian for any children you have who are under 18 years of age

What you need to know

Taking out personal insurance can:

  • Give you peace of mind that if the unexpected occurs, you don't need to worry about money
  • Pay you up to up to 75% of your pre-tax salary if you take out income protection insurance
  • Help you focus on recovering physically and emotionally if the worst did happen

Count on us

A Count adviser can help you:

  • Find the right insurance for your stage of life
  • Help you work out the level of cover you need and the amount of premiums you can afford
  • Advise you on taking out insurance through your super make sure you include a buffer for cost overruns

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Important information:  The information on this web page is not advice and is intended to provide general information only. It does not take into account your individual needs, objectives or personal circumstances. You should consider talking to a financial adviser before making a financial decision. JSA Accounting is an Authorised Representative of Count Financial Ltd ABN 19 001 974 625 AFSL No. 227232 which is 85% owned by CountPlus Limited ABN 111 26 990 832 (CountPlus) of Level 17, 1 Margaret Street, Sydney 2000 NSW and 15% owned by Count Member Firm Pty Ltd ACN 633 983 490 of Level 17, 1 Margaret Street, Sydney 2000 NSW. CountPlus is listed on the Australian Stock Exchange. Count Member Firm Pty Ltd is owned by Count Member Firm DT Pty Ltd ACN 633 956 073 which holds the assets under a discretionary trust for certain beneficiaries including potentially some corporate authorised representatives of Count Financial Ltd. 

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