7Wealth in Gisborne, Victoria | Financial planner

7Wealth

Locality: Gisborne, Victoria

Phone: +61 3 4411 8744

Address: 5a Hamilton Street 3437 Gisborne, VIC, Australia

Website: https://www.7wealth.com.au

Likes: 248

Add/Update information

Reviews

Tags

• Financial service
• Financial planner

23.01.2022 COVID-19 Financial Tip Making the most of all this spare time? What about learning a new skill online for FREE and enhancing your knowledge.... How? Well Udemy are offering 132 courses for free, plus they have many more from $13. Udemy is an online learning and teaching marketplace with over 100000 courses and 24 million students Get learning

23.01.2022 COVID-19 Financial Update As part of the measures the Australian governments put in place, theyre allowing Aussies affected by the virus to access up to $20,000 from their super, tax-free, over the coming months ($10,000 between now and 01/07, with another $10,000 to become available after 01/07). For those who really are experiencing financial hardship, this is definitely an avenue to explore to tide you over and offer a bit more financial security. ... However, for those who dont necessarily need to access the funds, but may eligible to, we urge you to consider the consequences for withdrawing money from your retirement funds. This picture shows the estimated lost returns of withdrawing $10,000 from your super now and what it would equate to by the time you reach retirement. Picture by Australian Services Union (ASU).

22.01.2022 Lets play a game - its called happy or sad tax. Rules - very simple. 1. Earn = your annual income before you pay tax 2. Pay = the amount of tax YOU pay each year to the ATO 3. Answer 3 questions on a piece of paper:... 1Write down your yearly income before tax. Tip - look at your payslip. 2Look at the list of incomes in the post and find an income that is similar to yours, then write down the corresponding PAY $XXX 3Now think about if you are happy with how much the PAY amount is as this is the tax you pay each year. Or if you are sad. Draw a happy or sad face. If you are happy, we are happy. If you are sad, then starting using strategies to reduce it. You can control how much tax you pay out If you are still sad and dont know where to start then DM us or call. Its NOT too late. . Look out for more posts to make you HAPPY tax . #taxtime #savetax See more

22.01.2022 Just another work day (I mean home school day) for one of our team members Sophia is preparing letters to send out to our clients today regarding an exciting announcement at the end of this month for our business This has also been sent via email. . Sophia gets to earn extra pocket money with this job. I would prefer she invests it into more shares but she has other plans we will attempt for a 50/50 agreement - spend some now, invest some for the future

21.01.2022 Sunday = online meetings with clients. We are holding lots of online meetings for clients and have done for over 12 months. It works really well for anyone wanting to access our help so their life can continue and stay on track. Especially with end of financial year approaching. Great for our interstate clients! We use a platform that is safe and secure called Microsoft teams. It allows us to share our screen and show documents, record the session and share back to... those clients (with their permission), chat and share notes if needed. There is even a white board feature if Im feeling creative. Best of all it is super easy to use!! So if you are needing help as we approach end of financial year, or want to start planning your goals for the future, or even thinking about your mortgage and refinancing? Then you can sit in the comfort of your home (after hours if needed as well) with us #sunday #funday #work #online

21.01.2022 With these challenging times so far and no doubt more to come we have seen some tough situations people face financially. I am reaching out to those who are struggling at the moment to give me a call or text or chat on messenger - thats me and thats my number . I will listen and offer any support where I can to ensure you are not alone. Its ok to accept things are tough, and its ok to ask for help #ruok

20.01.2022 Let's play a game - it’s called happy or sad tax. Rules - very simple. 1. Earn = your annual income before you pay tax 2. Pay = the amount of tax YOU pay each year to the ATO 3. Answer 3 questions on a piece of paper:... 1Write down your yearly income before tax. Tip - look at your payslip. 2Look at the list of incomes in the post and find an income that is similar to yours, then write down the corresponding PAY $XXX 3Now think about if you are happy with how much the PAY amount is as this is the tax you pay each year. Or if you are sad. Draw a happy or sad face. If you are happy, we are happy. If you are sad, then starting using strategies to reduce it. You can control how much tax you pay out If you are still sad and don’t know where to start then DM us or call. It's NOT too late. . Look out for more posts to make you HAPPY tax . #taxtime #savetax See more

18.01.2022 During our last "recession" the Macedon Ranges median house price dropped 13%. But things are different this time around. We expand further in our special property update

17.01.2022 COVID-19 Financial Tip The BEST investment at the moment is on your health. One thing you can do anywhere for free is exercise... Even better if you can have a personal coach there to support and encourage you with 100 other people. So this SATURDAY @ 9.00 AM our favourite gym Functional Fitness Plus is running a virtual online training session that you can access from your own home. Details: No equipment needed at all. This will be a great way to get everyone involved and have that community feel. The goal is to have 100 in the session This session is completely free Click this link tomorrow at 9am - https://zoom.us/j/188746438

17.01.2022 No free ice cream sorry But whispers on the financial streets is that this week the government will release more stimulus packages. This includes a $20,000 to $40,000 cash grant for newly constructed homes for home owners and first home buyers. So if you have been thinking about building then it might be time to start crunching numbers and researching land. We expect that these grants wont be time based but a certain number allocated. We will wait and see #firsthomebuyer #building #home #mortgagebroker

16.01.2022 Clients were waiting at the backdoor of the office this morning. Keen to hop into a meeting

15.01.2022 A warning to those who use a redraw with their mortgage to put their hard earned savings in. Sydney Morning Herald reported that ME bank had cleared the redraw balance that SOME of their customers had accrued. NOTE - only some customers, we believe around 800. It is in your loan contact that lenders can sweep a redraw account at any time for particular reasons. Yes its not fair but there are ways to structure your accounts to still save on your mortgage and kee...p every cent of your savings. Its important to understand how your mortgage is setup, but also how to get rid of it quicker Before you jump in and transfer all your redraw out, get advice or do your research please. DM us for help or advice if you need it #mortgage #redraw #becareful See more

14.01.2022 Protecting client data is something we value. So with the team working from home we need to ensure sensitive information is safe & secure. This is why we use a cyber security platform that makes it quick & easy to secure and control client data, wherever our team work. The geo location (map used in the post) shows the team working from home. Cyber-crime has been growing 35% year-on-year since 2015. Online criminals can seek to exploit the trusted relationship we hold with our clients to cause financial ruin. But Practice Protect will ensure we have a 360 degree approach to cyber security that covers all the team, whether in-house or remote

13.01.2022 Happy World Teachers’ Day They play a very important role for children in their life journey and we know lots of amazing teachers #WTD2020

13.01.2022 SICK of high electricity & gas bills? Here is one way to SAVE money on those bills. Compare apples to apples and save NOW via our NEW online tool. We help clients SAVE money where possible and this is one area to get some serious savings instantly. It takes 5mins - Grab an electricity and gas bill then click this link to get started ... https://www.econnex.com.au/7wealthgym/ we are available on messenger to chat if you have questions

13.01.2022 COVID-19 Financial Tip . Please beware if you are considering deferring your repayments that you may also have your redraw frozen. This will depend on your lender and loan setup. . If you are considering deferring repayments then speak to your lender about options on accessing your redraw first (if you rely on it). Options could include transferring redraw to an offset account, transaction account etc. Both have very different consequences and impact your debt free... date. . If you need help understanding your mortgage and options feel free to get in touch with us or speak to your lender. . See our last post about deferring your repayments and the consequences. See more

11.01.2022 COVID-19 Update - Free Childcare! Over the weekend the Prime Minister announced that as of last night, childcare around the country would be free to Australians who need it. The usual fees to parents will be waived for next 6 months, with the Government covering 50% of the fees that would have been paid. While this means childcare centres will be receiving 50% less revenue, if used in conjunction with the JobKeeper allowance, the centres will also be significantly subsi...dised for wages they would otherwise have to pay out of their pocket. This will come as a huge relief to a lot of parents and will also mean that childcare workers can remain employed and retain an income. You can read more about it in the link below

10.01.2022 Its not your fault. But its your responsibility. Be a money super star.... No better time than to start now.(after all, you have plenty of time). Have no time? Well you get 1440 minutes a day. So use 10 of those if you need help, we have got your back. DM us #7wealth #wealthgym #financialfitness

09.01.2022 We get ask all the time - whats the share market going to do or is property going to go down. . There are a number of factors that influence different areas of the economy. . This week in the finance world we start to see lots of numbers released on how different areas of the economy worldwide are performing and the impact of COVID-19.... This data can set the expectations of the weeks and months ahead. . Internationally: 1.Central bank meetings - these are institutions in each country that manages the currency, money supply, interest rates and the commercial banking system. In Australia its called the Reserve Bank. 2. GDP out of the US and Euro Zone. 3. Lots of data from the US around home sales, construction, consumer confidence. . Locally 1. Weekly consumer sentiment 2. Consumer Price Index (March Quarter) 3.Reports on the resource sectors 4.CoreLogic Home Value Index - Home Price figures for April - these will be important as they hold the keys to the house hold confidence over the coming months. 5. Industrial profits from China for March. . Stayed tuned #finance #nerds See more

09.01.2022 How Will COVID-19 Affect The Property Market? Tune in tonight (14th of April) @ 8pm for an in-depth discussion between Brad Best from Brad Teal Real Estate, Peter Machell from Mortgage Choice Bendigo & Macedon Ranges and 7Wealths very own James Harris. Theyll be addressing all of the major topics surrounding the effect on COVID-19 and what it means for the property market, and will also give the audience an opportunity to ask any questions they may have on the topic.... You can access the webinar by clicking the link below. We look forward to seeing you there!

07.01.2022 COVID-19 Financial Update The Australian Government has announced a $500 million package, this time in support of renters and landlords. ... What does this mean for renters? If youve negotiated an agreement with your landlord, have registered the agreement with Consumer Affairs, have less than $5,000 in savings and are still spending more than 30% of your income on rent, you may be eligible for the $80 million rental assistance fund the government is implementing. What does this mean for landlords? Landlords (both commercial and residential) who provide some rental relief for their tenants may also be eligible to receive a hefty discount on their land tax. The package hasnt been finalised yet, but from whats been released its looking like a 25% discount and the ability to defer land tax payments until March 2021. Additionally, tenants and landlords who are struggling to reach an agreement will have support in the form of a fast-tracked resolution service via Consumer Affairs. More info in the link below

07.01.2022 His & Hers We cannot stress the importance of structuring your bank accounts, the best way possible is to do two things: - Repay your home loan as quickly as possible (if you have one) ... - To save MORE money These debit cards are from Bankwest and belong to a couple that have just purchased their first property. Weve helped them structure bank accounts in a way that works for their circumstances and allows them to save towards their goals. For this particular couple (everyones different), theyve worked closely with Anna (our mortgage broker) to find a lender that offered a product with all of the features they were after (as well as one of the lowest interest rates available on the market of course!). By doing this, they were able to set up multiple accounts; the black cards you can see in the photo are connected to their joint Essentials account, which they use for everyday bills, groceries and other bits and pieces, while the colourful cards are their individual Splurge cards that they allocate a certain amount of money each month towards to spend on whatever they want! They also have multiple other accounts set up without debit cards attached to them, including accounts dedicated to Holidays, Investments and even a House fund! Because weve helped them identify how much they should be spending on what each month, theyve been able to automate their accounts so money is distributed between their buckets without even thinking about it. And the best bit? By structuring their accounts in this way, theyre able to repay their home loan in half the time, resulting in tens of thousands of dollars in interest savings. Cheers Bankwest for the funky debit cards!

06.01.2022 A warning to those who use a redraw with their loan to put their hard earned savings in. It is in your loan contact that lenders can sweep a redraw account at any time for particular reasons. Yes its not fair but there are ways to structure your accounts to still save on your mortgage and keep every cent of your savings. Its important to understand how your mortgage is setup, but also how to get rid of it quicker DM us for help if you need it

06.01.2022 Remote learning for many children starts this week in Victoria. Teachers have done an amazing job to get their classes shifted across to the online format. Parents good luck Here is a great game to introduce to your family. Pocket Money is a fun game that teaches children important concepts about money. It provides them with opportunities to use coins & notes to purchase items and give change. It introduces the concept that money is earned and exchanged for go...ods. GOAL is to be the first to win $50.00. . Start educating your kids about money and its concepts early . #money #education #games See more

06.01.2022 COVID-19: JobSeeker vs. JobKeeper It can be difficult deciphering the different payments you may be entitled to, with the release of more accessible Jobseeker payments, the new JobKeeker allowances and the many stimulus packages that are quickly being made available. Heres a really quick summary of the Jobseeker payments vs the JobKeeper allowance: ... Jobseeker Allowance - $1,100 (maximum, this is reduced as your income gets higher) per fortnight, pre-tax. - Payments backdated to the date you registered you Intent to Claim (this can be done via your MyGov account). - If your Intent to Claim was registered before the 13th of April, and you were considered elgibile, youll receive the first stimulus payment of $750 (one lump sum). - Those that qualify can usually also apply for rent assistance. - Youll may be required to apply for jobs to receive the payment. - You and your partners combined income must be less than $79,000 per year to qualify. JobKeeper Allowance - $1,500 per fortnight, pre-tax. - Payments to be backdated from March 30th. - Youll not be required to apply for other jobs for 6 months from the 27th of April. - Youll have to fall into one of the categories of employees that are eligible (click the link below for more info). - Self-employed will have to apply via the ATO, employees will require their employers to apply for the payment. We still recommend checking out the official fact sheets if you want to look further into the details of each of the payments. For the time being, itll be best to apply via Centrelink for the Jobseeker payment, while also registering your interest in the JobKeeper allowance with the ATO (for self-employed). The ATO and Centrelink will work out between them what youre entitled to and pay you accordingly. Apply for the Jobseeker payment here: https://my.gov.au Apply for the JobKeeper payment here: https://www.ato.gov.au/Job-keeper-payment/

05.01.2022 COVID-19 Financial Update Our frontline healthcare workers to have their Life, TPD, Trauma insurance, plus income protection honoured Well done and thank you to the Financial Services Council for working cooperatively and responsively with the Government to secure this. ... Our clients who are frontline health workers will not have a claim denied, an application for cover refused, or a premium hiked due solely to their work and risk of exposure to COVID-19. Standard exclusions still apply. See more details below or check with us to see if you are covered or need cover

05.01.2022 Tassie people - We have Anna our Accredited Mortgage Broker and Debt Destroyer on the ground there if you need to review your mortgage, thinking about refinancing, want to plan your debt free date or considering an investment property Armed with over 15 years experience in banking and lending she knows all the tricks (and traps) with mortgages. Plus she has access to over 30 lenders to do all the leg work and research for you Oh and she was also an accountan...t for many years which adds to her wealth of financial knowledge & skills. So if you need help with your home loan and debt or even have a questions , she can help. . Just DM us #mortgage #homeloan #debtfree

04.01.2022 COVID-19 Financial Tip . You may be aware that most lenders are offering to defer your mortgage repayments for the next 6 months (depends on your lender). . If youre really struggling from financial loss due to COVID-19, then yes, reducing expenses for the time being generally should be your first priority. However, if youre one of the lucky ones who is able to maintain a steady income and still have the ability to make your usual repayments, itd most likely be... beneficial to continue to do so. . While the offers being framed as a 6 month mortgage holiday by many lenders, this isnt actually the case. Interest is still accrued for the period youre not making repayments, but instead of it coming straight out of your bank account, its tacked on to your outstanding loan balance this effectively means youll be required to pay interest on the interest that you havent paid. . Some lenders are extending your mortgage term by 6 months to allow you to continue making the same repayments you were making before the 6 month break (but youre still paying 6 months of extra interest!), while some are keeping the same loan term and instead will increase your regular mortgage repayments after the 6 months to make up for the missed repayments. . As is usually the case, the devil is in the detail and its always worth doing your due dilligence! See more

03.01.2022 COVID-19 Financial Update Are you working from home due to COVID-19? Then youre most likely eligible for the new tax shortcut thats recently been announced by the ATO. Australians working from home are now able to claim a tax deduction at a rate of 80 cents per hour of work, with the purpose of simplifying what expenses can be deducted due to work. People living in the same house can all claim an individual deduction at the 80 cent per hour rate. Youre also not required... to have a dedicated work-from-home area, which was previously compulsory. The change will apply from 1 March 30 June. Those of you who want to claim using the shortcut will have to keep a diary of the hours youve worked from home or have a four week calendar that shows your work hours for the period youre claiming for. More info in the article below

03.01.2022 To our ANZACS, Where over 1.5 million Australian men and women have served in eight major wars or conflicts during the twentieth century. Where more than 100,000 have died in action, more than 200,000 were wounded and more than 30,000 were taken as prisoners of war.... We remember those who served and died in all wars, conflicts, and peacekeeping operations plus the contribution and suffering of all those who have served. Suffering from the unseen wounds often live on, but we are here with you. We come together to remember and support those who have fought for our country. They have selflessly given us the life we now have. Lest We Forget. #anzacday

02.01.2022 COVID-19 Financial Update Are you working from home? Well you need to read this to ensure you make the correct claims at tax time. Thanks to the team Kennedys Accountants

01.01.2022 HomeBuilder Grant In an attempt to combat the dramatic drop in the construction of new homes due to COVID, and to support tradies and Aussies building their own homes, the Australian government has recently announced a new stimulus package that will be available to those who sign their building contracts between now and then end of December. What is it? ... Youll receive a lump sum of $25,000 to go to towards the construction of your home OR eligible renovations. The build/renovations must cost at least $150,000. If youre building a new home, the value of the property cannot exceed $750,000 (this includes the land). If youre renovating, the value of your property cannot exceed $1.5M and the renovation must be valued between $150,000 - $750,000. Whos eligible? To be eligible, you must sign your build contract between the 4th of June and the 31st of December and the house youre building must be a principal place of residence (no investment properties). If youre a single, your income must be less than $125,000 for the financial year; if youre a couple, your combined income must be less than $200,000 for the financial year. DM us for questions or More info in the link below: https://www.theguardian.com//morrison-government-to-offer-

01.01.2022 Thank you to everyone who is doing their bit to stay at home where they can. Its a challenging time for everyone and you are not alone. Make sure you call a friend, family member, client, neighbour even a local business to check in and ask if they are ok. ... Stay safe and look out for others

01.01.2022 Happy Easter everyone. Ours started at 6:30am We all had rabbit for breakfast Have a fun day