Financial Planning

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With EOFY approaching, it’s crucial to optimise your tax planning. From maximising super contributions to managing capital gains, here are our last-minute thoughts, tips and reminders to help you make the most of the financial year-end.

If discussing retirement plans on the golf course negatively impacts your swing and leaves you clutching your back, it’s a humorous reminder of the health and wealth connection. Here’s what we know about their intricate relationship.

Over the next two decades, an astounding $3.5 trillion is expected to be inherited. Will you be prepared for this wealth transfer? Both beneficiaries and benefactors will need to employ strategic planning to minimise tax implications and other potential problems.

If you are fortunate enough to have sufficient funds to settle your mortgage, you might instinctively opt for immediate repayment. However, it’s prudent to consider all your financial options. There are actually two good reasons not to pay off your home loan first.

Consistency is key when building healthy money habits for couples and forging a strong financial future together. At First Financial, we empower individuals and couples to retire on their terms. Here are some of our top tips.

What financial advice would you share with your 21-year-old self? As we age, we tend to get savvier about money matters. Sadly, revisiting the past is off the table, but we can pass on our financial wisdom to anyone on the brink of starting their first full-time job.

Entering 2024, promises of healthier habits and new adventures surround us, though statistics predict their fleeting nature. That’s why it’s important to commit wholeheartedly to maintaining your financial resolutions for the new year.

As retirees visit grown children and empty-nesters welcome back larger families this holiday season, let’s reflect on family values. For those still with little ones or grandchildren, here are some of the secrets to raising financially responsible children.

It’s important to remember that the most meaningful gift you can give yourself and your family can’t be wrapped in a box. The gift of financial security is something to savour not only today but throughout the holidays and every day for the rest of your life.

Your paycheque is more than a transaction. It’s a key to financial autonomy and freedom. With employee share schemes, you get an additional slice of the financial pie. And turning that slice into a substantial asset is not just a possibility—it’s within reach.

For some people, inheriting property is just a matter of acquiring bricks and mortar. For others, they inherit memories and a piece of family history. No matter which describes you best, you probably have financial questions about inheriting Mum’s or Dad’s house.

Retirement – for small business owners, it’s the grand finale of your entrepreneurial journey. When orchestrated with financial finesse, your future self will surely offer a standing ovation. Here’s our guide to retirement planning for small business owners.

If you’ve ever daydreamed about a life without mortgage payments, you’re not alone. Owning your home outright is an Australian dream, and if you find yourself with extra dollars, the question naturally arises: “Should I pay off my mortgage first?”

In honour of International Day of Older Persons, we provide some answers to frequently asked age pension questions. It’s a good time to start meaningful conversations regarding financial wellbeing for our elderly and those planning retirement in the near future.

A quick scroll through social media now easily facilitates keeping up with the Joneses, making it hard to avoid gauging your prosperity against theirs. Nonetheless, the very act of comparing wealth with others can actually sabotage your own financial journey.

Time flies when you’re having fun, but amidst the enjoyment of our earlier years, it’s important to consider the future. Planning ahead for aged care services someday is in our own best interest and that of those we love.

If you didn’t start in your 20s, it’s not too late to start investing in your 30s. You’re young enough to enjoy the benefits of compound interest over another 30-plus years, and you’re wise enough to invest a significant portion of your income.

Whether you’re a high, middle or low income earner, everyone is feeling the pinch and talking about the rising cost of living. At First Financial, we have some practical advice for tough economic times.

What can I do to pay less tax? Did you know that you can get an FBT exemption for electric vehicles valued below a certain threshold? If you are looking for an innovative approach to saving on tax, here are the benefits and eligibility requirements.

Tax deductible is to some, what ‘sale’ is to shopaholics. However, the mere fact that something is tax deductible doesn’t necessarily make it a wise allocation of resources.

Rising interest rates continue to be a massive concern for many Australians. This is not just for homeowners, but everyone affected by the resultant increase in cost of living.

Successful property investment advice can yield significant returns. However, cost of living increases and rising interest rates necessitate a more focused approach when you’re trying to pay off your mortgage faster.

Want to avoid spending more than you should? Budgeting for the holiday season is a good way to ensure you still enjoy your holidays, but don’t start the new year in financial distress.

Interest rates are on the rise and the cost of living is skyrocketing – so how can you plan for a financially healthy 2023 in the midst of it all? The team at First Financial have some tips.

There is a lot to consider when a relationship breaks down, but rebuilding your finances after divorce and safeguarding your financial future should be somewhere near the top of the list.

Before you close out the year and head into the holiday period, consider what you should do to get your end of calendar year finances in order so you can start the new year afresh.

Life can throw us curve balls of the unexpected, but there are also many life events that we can anticipate and plan for. Today, we discuss financial planning for various life events.

An intergenerational wealth transfer can be a life-changing opportunity, but also bring challenges and complexities to your financial and personal life you may not be prepared for.

Do I need a financial adviser? There’s an easy test to find out the answer. How much is left over in your piggy bank after you’ve paid your bills each week? If there’s money to spare, you could benefit from financial advice.

Even before that bundle of joy enters the world, your responsibilities as a parent begin to mount. We have some budgeting tips for parents who want to make the most of their dollars and set their family up for financial success.

Thinking of helping a loved one out to secure a housing loan? There are a few things you need to be aware of before you sign on the dotted line to go guarantor on a loan.

Top tips to help you stop overspending and start saving money. Use this guide to help you break your bad spending habits and gain some good savings habits today.

Over recent decades there has been a digital transformation and managing your money is more often completed with a few clicks on a keyboard, rather than a weekly trip to your local bank branch.

If we’ve learned anything from the last few years, it’s that we can’t predict the future. It doesn’t have to be a pandemic; perhaps you unexpectedly lose your job, or you fall sick. This is when an emergency fund becomes incredibly valuable.

Can you believe that millennials have started turning forty? This generation, born from 1981 to 1996, now make up almost half of Australia’s workforce, and numerous research studies have looked at millennials and money.

Financial goals often focus specifically on retirement… making sure you have enough superannuation to support your ideal lifestyle. And while this is undoubtedly incredibly important, it doesn’t need to be your only target.

Keeping on top of your finances can seem pretty overwhelming. A personal financial adviser can make a difference in your life and help you make the most of what you have.

The last two years have been tough for millions of Australians. But now that we are starting to find our way out of the dramatic lockdowns and life is somewhat returning to normal, what can you do to boost your finances?

On 9 December 2017, the Government amended the Marriage Act 1961 and legalised same-sex marriage. But when it comes to LGBTQI+ couples and their financial rights, there can still be some confusion.

The world of credit and borrowing money is a tightly regulated industry. Lenders are required to comply with ‘responsible lending conduct’, and they have strict obligations. Your lifestyle can affect your loan borrowing power.

Being in love is a wonderful feeling, and as your relationship develops, you and your partner might start to discuss how you can merge your separate lives. But when it comes to combining finances in marriage there is a lot to consider.

It’s not unusual for business owners to have competing priorities. But seeking the services of a professional financial adviser can help a business owner bring their personal financial security back to the forefront of their mind.

When you are a student you are deep in the throes of learning about your chosen subjects… but this is also the time to form some great money management habits. We have some great financial tips for students.

Seeking professional advice can be beneficial when you want to maximise your wealth building opportunities, and this is when you might ask yourself ‘do I need a financial adviser?’ They can provide you with guidance on how to secure your financial future.

Many corporations utilise employee share schemes as workplace incentives. They are an effective way to encourage retention and motivate employees to do their best for the organisation. But there are potential tax implications you need to know about.

While the initial impact of COVID-19 slowed the property market last year, it has certainly bounced back, and consumer confidence appears strong. With that in mind, we look at some of the factors to consider if you are buying a house in 2021.

Financial freedom – it’s something everyone wants. But for many women, finances can pose a challenge. No matter where you are in your life right now, it’s essential that you take control today and start planning for the future.

Proper financial planning for various life stages and milestones can reduce the stress and anxiety and give you the confidence to transition through these milestones with ease and clarity. Learn more about how First Financial can help you prepare.

Mortgage interest rates have been a hot topic of conversation for many years. We’ve been experiencing some of the lowest figures ever seen and the Australian property market has continued to soar, despite the economic woes of the global coronavirus pandemic.

We all know that to live a healthy lifestyle, you have to eat well and exercise regularly… but another important element of the healthy life model is your financial wellbeing. Improving your financial position can help reduce stress and support your overall health.

This holiday season has been unlike any other. With COVID-19 restrictions still impacting our daily lives and the usual overseas travel options unavailable, we’ve taken to our own backyards to celebrate.

Discussing money matters with loved ones can be hard… in fact for many people, the topic of family finances can be a daunting one to approach. Whether it’s your partner, your children or even your parents, it can be a difficult conversation to start.

It’s important that you take steps early on to secure your financial position by seeking appropriate legal and financial advice. You need to make sure that you receive your entitlements and that there is a fair separation of assets.

Throughout our lives, we have many significant moments that help to shape who we are and how we live. Financial planning for major life milestones can help keep us moving forward and support our financial security for many years ahead.

Proactive business succession planning is critical, especially as an ever-increasing number of baby boomer business owners approach retirement. We take a closer look at succession planning and David Pitt discusses the role buy/sell insurance can play.

Whether your kids are boomeranging back, or they are yet to leave home, it’s important that you set expectations and create practical boundaries within your household. The truth is… your kids aren’t really kids anymore, so you should resist the urge to fall back into full parent mode.

During challenging times, it can be extremely beneficial to have a trusted financial adviser. Someone who knows your personal situation and can help you navigate the uncertainty with sound advice and professional assurance.

Have you thought about how you would like your estate to be distributed? What do you want to happen to your assets when you’ve gone? Do you want your grandchildren to benefit… or do you have a favourite charity you would like to support?

The end of the financial year is almost here… and that means it’s tax time! With 2020 being an extraordinary year, the ATO is already expecting that this tax season will be like nothing ever experienced before.

Redundancy can be a life changing experience filled with many mixed emotions. The uncertainty of unemployment can feel overwhelming, but by taking control of your finances you can secure your lifestyle today and into the future.

Reducing expenses and saving money might seem like an impossible task in the current climate… but there are some practical steps you can take today to help create habits that will benefit you far into the future.

“Financial peace of mind doesn’t just happen… it takes planning, it takes long-term commitment.” Ben Rossi, Principal and Managing Director, has helped many people over the decades. He knows just how valuable good financial advice can be when planning for your future.

Personal estate planning is an incredibly important undertaking. We all appreciate the significance of creating a will and making sure there’s a formal plan for our affairs when the inevitable occurs… but do you also have a Power of Attorney?

Running your own business can be extremely rewarding. Being your own boss and knowing that all the effort you put in goes towards your success… for many people this is a dream come true.

The mind is a funny thing… it can push you forward to achieve great feats or it can pull you down into a state of inaction. Your mindset is incredibly important when it comes to your wealth building because the right mindset certainly helps you achieve financial success.

Do you have ageing parents that you support while also caring for dependent children? Every dollar given away today could impact your own financial security in your retirement years, and perpetuating financial instability is the last thing you want to do.

When you start to focus on your finances and think about what you want your future to look like, it is very important that you find the right person to help you along your path.

Buying a home is an incredibly exciting time! It can be the beginning of a new chapter in life… you have found your dream home in the perfect suburb and you are ready to embrace the home-owner lifestyle.

Right now is the best time to start planning for your future. The greatest advantage of starting young is time. The compounding of small investments initially makes a remarkable difference over a long period of time.

Nicole Costa has worked her way up through the ranks at First Financial to her current position of financial adviser. She’s the perfect example of how we foster our in-house talent through our financial adviser training.

At First Financial, we know that for many of our clients giving back to their community is an important part of their lives. It gives us great joy to know that our work as financial advisers goes some way to helping our clients act on their passion to give to others.

Committing to a savings plan early in life is one of the key components to building wealth and reaching your financial goals. It’s also a lot easier to achieve than you might think. Right now, finding extra cash to save each month might seem difficult.

It’s no secret that it’s becoming increasingly difficult for young Australians to buy their first home. So, it should come as no surprise that many parents are looking for ways to help their adult children take that first step onto the property ladder.

Losing your partner changes your life. We don’t begin to presume to understand such a difficult time. But when it comes to your finances, we can offer support and expert advice.

The ongoing findings of the Banking Commission have cast a cloud over the respectability of the financial planning industry. We accept that’s understandable in light of what is being exposed. We, too, want answers for those retirees and investors who have been misled and, in some cases, financially ruined.