Ask Mike Financial in Mona Vale, New South Wales, Australia | Financial planner

Ask Mike Financial

Locality: Mona Vale, New South Wales, Australia

Address: Tba St 2103 Mona Vale, NSW, Australia

Website:

Likes: 90

Add/Update information

Reviews

Tags

• Financial service
• Financial planner

25.01.2022 It's been a bloody rough week for many along the eastern seaboard of Australia with some of the most intense fires Australia has ever seen. Our thoughts go out to all of those impacted as we look forward to rebuilding what was lost. We have got some of the most amazing firefighters who have done a great job throughout these extremely challenging conditions. Thank you to all those involved, including all the volunteers who selfishly give up there time and effort to fight the... good fight..... Thanks for the collection Rohan Phillips!

25.01.2022 According to Fidelity’s new report, The value of advice, based on a survey of around 2,000 Australians, some of the key concerns for Australians when it came to their finances were that: >> Around one in three (35.9 per cent) would not be financially stable if their relationship/marriage ended tomorrow. >> Almost three-quarters (73.8 per cent) would not be financially stable if they were to lose their job tomorrow. >> More than half (55 per cent) of pre-retirees think they wi...ll have to keep working past retirement age, while 52.6 per cent worry they might not be able to afford to live where they want in retirement. See full article below: https://www.ifa.com.au//27587-aussies-financially-stretche #AskMike

23.01.2022 Is your super fund more risky than you realise? If you're invested with Hostplus Super it could well be the case, and it is worth understanding the detail. Other industry funds are also guilty of this kind of behaviour. We've been raising this with clients for some time now. If you can spare a few moments it is worth the read. #AskMike #SmokeAndMirrors ... https://www.afr.com//hostplus-has-93pc-growth-allocation-a

22.01.2022 Do you live in one of Australia's highest earning postcodes? #checkitout

21.01.2022 Some further details - newsletter attached:

20.01.2022 "Retirement is like a long vacation in Las Vegas. The goal is to enjoy it to the fullest, but not so fully that you run out of money." - Jonathan Clements #AskMike #Retirement

20.01.2022 This paints an interesting picture, highlighting one of the key reasons that 2019 was such a good year for equities. This chart is of the US markets but Aussie markets was somewhat similar, albeit with slightly differing magnitudes in relevant draw-downs. 2018 experienced a great deal more volatility thanks mainly to the market moves during the start and then the end of that year. ... #AskMike #Equities #2018v2019

17.01.2022 Here is a good summary of the Financial Year that was! #AskMike Information provided by Clearview

15.01.2022 8 minutes on Markets, their reaction with regard to COVID-19 and it's impacts on the economy. What should you do with your investments at this juncture? https://www.youtube.com/watch?v=gIR7-bSmY8Q&feature=youtu.be

14.01.2022 IFA Client Experience Workshop! Maintaining a better experience for all of our clients and ensuring that they continue to receive the ongoing value that we can deliver.... #AskMike #IFA_AU

13.01.2022 Too many times have I seen a new client that has been impacted by these items. Studies have shown that annual re-balancing works. B & C can have huge ramifications and is where most people tend to lose money - sometimes a lot... P & T work hand-in-hand and can lead to huge savings, particularly over the long term, meaning more money in your pocket for your retirement and living the life you want... #AskMike #Youcandobetter

10.01.2022 Some news on the work front.... :)

09.01.2022 Super News! For anyone looking for a good cure for insomnia, read the attached. All others, check in with their respected adviser to talk through any of the changes to their super.... https://www.superguide.com.au/how-super-/super-news-august

09.01.2022 We have entered very surreal times - but this is not permanent. The Associated Press have just released this article: https://apnews.com/171814c958c0fc0ee92d15ee035f9c35 Some further food for thought: There have been 24 bear markets since 1928, good enough for one every 3-4 years. The average fall from grace has been a 33% drop, lasting just shy of 1 year from peak-to-trough. ... Stay safe everyone! #AskMike #COVID19

09.01.2022 Are you ready for the EOFY ? EOFY 8 item action plan: ... 1. Pre-pay income protection premiums: A tax deduction for income protection premiums may be claimed for this financial year if policy premiums are paid by 30 June 2019. 2. Charitable donations: Charitable giving tends to be more popular in June for tax deduction purposes but it can also be a good time to set up regular donations which are deducted throughout the year. There are also opportunities for clients who wish to make larger donations in support of sustainable giving i.e., where you put in a lump sum that is invested in a tax-free environment and each year the earnings on that investment are distributed to nominated charities. 3. Maximise concessional contributions: Identify options to make the most of tax deductions in relation to super up to $25,000. 4. Spouse contributions: To obtain a tax offset for an eligible spouse contribution up to $3,000, the receiving spouse’s income must be below $40,000p.a. The maximum $540 tax offset is available where the spouse’s income is less than $37,000. 5. Transition to Retirement (TTR) pension condition of release: Earnings within a TTR pension are taxed at 15%. However earnings become tax-free when a person reaches 65 years or fulfils a condition of release (like retirement, terminal illness). Those who have met a condition of release need to notify their pension provider immediately. 6. Co-contribution scheme boost: The Government will contribute up to $500 to a person’s super account if a $1,000 contribution or more is made and their income is less than $37,696 for the year. 7. Trust distributions: Where relevant, resolutions must be made before 30 June. This makes it a good time to review any beneficiary’s taxable income for the 2018/19 financial year. 8. Bring forward benefit: Clients who have turned 65 during this financial year have a small window of opportunity to make the most of the $300,000 limit that applies to after tax super contributions (equivalent to three years’ annual cap). This may be relevant for those who have sold a property or received an inheritance. Remember 30 June is a Sunday this year so make sure to allow enough time for your strategies to be implemented.... #AskMike #EOFYPlanning

07.01.2022 Not a bad return for 1 month - is the Crypto trade back and are all those Crypto currencies here to stay...? Only time will tell.... #AskMike #cryptocurrencies #iscryptoback

05.01.2022 So far, 456,000 Australians have requested early access to their superannuation based on the new Government initiatives, totalling $3.8 billion in claims. The average withdrawal was $8000. The super funds now have five days to process the claims.

05.01.2022 Our business is coming to Griffith....! Hi everyone - this is just a quick note to let you know that the 2 Owners and Directors of our business are heading to Griffith to meet with clients in 2 weeks time. We will be in Griffith from the 17th to the 20th September. ... Myself and Phil Windsor are heading down to meet with a number of our clients and so if you, or anyone you know, would be keen to chat with us around how we can help you then please get in touch, or PM me via Facebook. Cheers, Michael See link below for more details: http://chrysalislp.com.au/

05.01.2022 Unless you've been hiding under a rock you will be aware that it's been a rough few days on the markets! See the ASX200 (S&P) Index below. We're not done yet but it's looking to close down around 2.35% This week the US-China trade dispute has escalated markedly. ... Yesterday morning, China responded to new tariffs being imposed on its exports to the USA by allowing its currency to weaken through 7 USD for the first time in a decade. Reports also suggested that China ordered its state owned enterprises to cease importing US agricultural products and threatened to impose its own tariffs on US goods. Returning serve, the US Treasury Department today formally labelled China as a currency manipulator raising the potential of additional sanctions as a result.

04.01.2022 This is a good step in the right direction! #AskMike https://www.smh.com.au//new-year-11-12-maths-course-teache

04.01.2022 Facing redundancy can be an emotional, difficult time. At Chrysalis we've helped hundreds of Qantas staff navigate redundancy. With the right support and planning, you can start making your move towards a successful next step in your career, or transition into retirement. Call 02 9972 2633 or visit www.chrysalislp.com.au/qantasredundancy/ #qantas

01.01.2022 So you've got an Investment Portfolio (or Superannuation Portfolio) - does that mean that you have a plan for the future? "A portfolio is not, in and of itself, a plan. And a portfolio that isn’t in service to a plan is just a form of speculation; it can have no other goal than to beat most other people’s portfolios" Nick Murray - from his book: Simple Wealth, Inevitable Wealth... Something worth thinking about..... #AskMike #NickMurray

01.01.2022 How is your Super Fund performing? The Separately Managed Accounts (Balanced profile) that we have many superannuation (and non-superannuation investors) invested in returned 19.19% for the year ending December 2019. These results are outstanding when compared to the latest ChantWest returns whereby UniSuper topped the tables at 18.4% (see below ChatWest table).... As a side note - our High Growth option returned 22.81% for those interested. I have also included a table showing how all asset classes performed for 2019 (USD). No negative returns to speak of - no one would have predicted the year would end as it did, from a performance point of view. #AskMike