Essential Financial Advice in Bunbury, Western Australia | Financial planner

Essential Financial Advice

Locality: Bunbury, Western Australia

Phone: +61 8 9721 9493

Address: 52 Forrest Avenue 6230 Bunbury, WA, Australia

Website: http://www.efa-financial.com.au/

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25.01.2022 Following yesterday's cash rate reduction, here is a fresh update courtesy of the Australian Financial Review. "Commonwealth Bank, Westpac and National Australia Bank have sliced interest rates on fixed rate home loans and some business loans but left standard variable rates unchanged, as already rock-bottom deposit rates limit their ability to pass this week's Reserve Bank cuts to all borrowers and margins come under renewed pressure from the extreme policy. The combinatio...n of actions by the RBA this week will push more mortgage customers towards fixed interest rates. To get the benefit of lower rates, home loan customers on standard variable rate loans will need to refinance to fixed terms, while existing fixed rate loans do not change. CBA and Westpac are both offering a four year, fixed rate mortgage at 1.99 per cent, while National Australia Bank said it will undercut this with a 1.98 per cent rate. It's the first time any of the banks have offered a mortgage at below 2 per cent." If you are thinking of changing your interest structure on your loan, seek advice so that you can consider all potential pros and cons.

25.01.2022 The Virus, The Volatility & Government Action - https://mailchi.mp//the-virus-the-volatility-government-ac

25.01.2022 Cheeky cross promo, my husband is now a mobile mechanic in case you are looking for one. Check out our JSV Mechanical page for more details. But remember I need him home by 4 o'clock on weekdays so don't tell your friends

24.01.2022 I have encountered my fair share of trials and tribulations in the last 13 years since I had my first child and wanted to continue in my career, and it has made me always challenge the status quo in a search for a better way of doing things, to somehow try and get balance between my career and personal life. That is where the birth of this whole blog site came from - the business of life. [ 1,749 more word ] http://shonelvuletich.com//could-the-pandemic-disrupt-the/

23.01.2022 From planning a family, to upgrading the home, to taking your dream job, moving town or even moving interstate, undertaking further study, decreasing hours to spend more time with your kids, a sea change or a tree change, finding a better balance between work and home life.... we tackle changes with our clients all the time and love helping them achieve milestones, celebrate successes and figure out how to achieve the lifestyle they want!!

23.01.2022 Due to the ongoing concerns among the community about the spread of COVID-19 and the requirements for social distancing, we have made the decision effective from today NOT to conduct face to face meetings. Appointments for existing clients can still be conducted, but will be done over the phone or via the Zoom app if you have a computer or tablet with the capability. We are still open for business and all staff are currently working in the office as usual. We have taken th...is measure to ensure our clients (particularly those over age 65) & their families, our staff and our families are not put at risk. At this stage appointments for new clients will be deferred until a later date. We thank you for your understanding during this time.

23.01.2022 A cash flow and budgeting concept called zero based budgeting caught my attention today, so I wanted to tell you a little about it.

23.01.2022 *Newsflash* some of us aren't very good with money!! I certainly wasn't until I educated myself. Watch for a little insight into my personal journey. If you could use a one-on-one, send me a Facebook message to get started.

22.01.2022 ** Important update ** In December 2019 APRA announced significant changes to the income protection insurance landscape and there is limited time to act before these changes take place. => If you don't have income protection at all and are thinking about obtaining cover, you need to act immediately. => If you are self-employed with a volatile income, and have an existing indemnity contract, you need to review it now.... In a few short months, at the 31st of March 2020, APRA is mandating changes, including but not limited to the following, for all insurers: * Agreed value benefits will no longer be offered, meaning only indemnity will be available. This means you will have to prove your income at the time of claim. These can be very unfavourable policies for self-employed. * Unlikely to have benefit periods to age 65. Often we recommend cover to age 65 because they are cost effective and ensure peace of mind that if you can't work for an extended period of time, your income is replaced until you can return to work or reach a retirement age. This will not be offered going forward. There are other changes along with these so ultimately we recommend you seek financial advice as soon as possible to look at suitable cover prior to the changes coming in, or to check that your existing policy is appropriate. Due to the process involved in getting cover in place, don't put this off until March or you will run out of time. Contact one of our experienced advisers now on 08 9721 9493. Why is this happening? APRA has communicated in the past to insurance companies that whilst their life insurance pool of policies is profitable, the income insurance product is loss-making and causes a financial risk to the viability of the personal insurance industry in Australia. Losses for insurance companies with income protection claims have amounted to more than $3 billion in recent years, and in 2019 alone, is suffering losses above $1 billion by September (APRA life insurance statistics Sept, 2019) APRA have now communicated these changes will occur and put simply, appear to have lost patience with the insurance companies making changes to the Income Protection policies. For a link to APRA's announcement refer to the comments section of this post.

21.01.2022 My favourite new saying, "Warren Buffet likes his stocks the way he likes his socks - on sale!" This short video by Morningstar sums up perfectly how human nature makes us more inclined to buy investments when they are at the top of the market or expensive, and reluctant to buy them when they are down in value. Watch through and you will also see a diagram which highlights the difference in outcomes of an investor who rides through the downturn and enjoys the recovery, ver...sus an investor who sells at the bottom and then later buys back in once the market has started recovering. Turn down the noise, take a few deep breaths and have a good weekend. x - Shonel -

21.01.2022 Expanding your business in the next 12 months? If you are a business owner and thinking about expanding by increasing staff levels, the Budget includes a JobMaker Hiring Credit that is worth checking out. This commences from today. https://budget.gov.au//jobmaker_hiring_credit_factsheet.pdf

21.01.2022 It was an early start for me today so I was able to check out some budget announcements, such as the JobMaker credits to support growing businesses and get people into jobs as we recover from the Covid recession. There were many areas covered, so I would love to know, what were some positives you took out of the budget?

20.01.2022 Day 9 update from home headquarters. This message is for all the parents of school aged kids!

20.01.2022 Are you looking for financial advice but have trouble making it to a face to face meeting due to distance or for family reasons? The good news is, if you have a computer, our advisers are available by appointment for Zoom meetings! Zoom is an online program which allows face to face online meetings, giving you the flexibility of talking to us from any location around the world. So if you are an Australian resident needing quality financial advice, don't let your geographi...cal location prevent you from starting. Book a Zoom meeting with us and try it for yourself. Email [email protected] for further details. www.efa-financial.com.au

20.01.2022 **RBA cuts rates** The RBA met today and announced the cash rate will reduce to 0.1% (down from 0.25%) and announced a quantitative easing program of $100 billion. Follow the link for full statement from RBA Governor Philip Lowe. https://www.rba.gov.au/media-releases/2020/mr-20-28.html

20.01.2022 While some are worrying about the correction in share markets, most experts see this as a buying opportunity. This is well explained in yesterday's AFR article.

20.01.2022 Monday morning and the turmoil continues, so this seems like a good time to remind you of some past truths. Did you know that at the lowest point in the Australian share market, at the time of the Global Financial Crisis (2007-2008), Australians had sold down their shares to the point where they were trading at half of their true value. Was there anything wrong with most of these companies that were trading at a 50% discount? No. Were investors panicking? Yes! In my o...pinion, the biggest problem with shares is they are too easy to sell, that's why they are so volatile. Some investors want to jump ship as soon as they see that a downturn is underway. Fear takes hold. People feel the pain of a loss (even if it's a paper loss) twice as much as they feel the joy of a gain. It's human nature. But your investment portfolio should align with your long term goals and objectives and be structured to suit your risk tolerance (that's what we do for our clients), meaning you should not need to make changes when market shocks occur, such as this one. If I use the toilet paper analogy, someone started panic buying toilet paper, then the frenzy spread and suddenly everyone is panic buying toilet paper and fighting over supplies! Fear makes us behave in a strange way. This is much like panic selling your investments because the world is in the grip of doom and gloom talks. Do yourself a favour and resist the urge to panic. Distract yourself, immerse yourself in a hobby, remind yourself of what you already have and be grateful, don't linger over the daily news updates because in 1 year, 5 years, 10 years time, those quality companies you invest in should be doing just fine. **Unless specifically indicated, the information contained in this post is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek personal advice from a financial adviser.**

19.01.2022 The 2020-21 Federal Budget announcement unleashed a raft of measures aimed to get people into jobs, create new jobs, invest in sectors that we need for the future, and reductions to income tax rates to help households by putting more money in their pockets to ease pressures or for consumption spending back in the economy. But don't leave me, I promise this isn't going to be boring economic waffle. [ 1,411 more word ] http://shonelvuletich.com//unleash-the-benefits-what-you-/

19.01.2022 For all the official Budget 2020-21 details go to https://budget.gov.au/

18.01.2022 Fairly soon, it looks as though we'll have minimal (if any) staff working from our office. I'm thankful for the fact that we are in 2020 and we have great technology to help us through a difficult time so that we can still deliver for our clients, as well as staff who are great at adapting to change. At Essential Financial Advice, we are already using Zoom to conduct client and business meetings online where we can still see each other and also share information over the s...creen. Zoom is fantastic! Where you don't have the ability to do Zoom, we stay in touch over the phone. Further to that, my team and I are preparing to be able to work remotely from the end of this week. We have a virtual private network so that we can work securely from anywhere in the world and still have access to all the files we need. Obviously we're not going to be on a gorgeous island somewhere, we are going to be self-isolating at home with our families. We will be keeping business hours as normal as much as possible. Internally we are now using Slack, which makes communication between all of us at EFA more streamlined. No more inboxes full of internal emails, it's all instant messages in neat channels for us! This will avoid delays in communication so we can get your messages quickly and then act. Our Client Management System is already web based, so no changes there! As you can see, we are doing everything we can to ensure that we are still here for you. Some of you are doing it really tough right now, so please don't hesitate to reach out if we can help in any way. You may not be able to walk in and see us for a while, but we are still available through phone, email, Facebook messenger, text.... any time.

17.01.2022 In a busy world, sometimes we put so much energy and focus on a particular area of our life, that we forget about the others. It's not dissimilar to the old "work-life balance" subject that I'm referring to, but this topic extends much, much deeper than that. Some of us are knee deep raising children, others caring for elderly parents, some of us volunteering in community groups, others raising funds for charity, or building businesses, growing family legacies, and some are doing a number of these things simultaneously. [ 938 more words ] http://shonelvuletich.com///09/curating-a-life-of-meaning/

16.01.2022 There is a lot going on in the Aged Care space at the moment, and it is an area that requires careful planning for those needing to go into residential care, whether that is you or your parents, or even your grandparents. It is often the children that seek advice on behalf of their parent who is going into care. The financial considerations are just as important as choosing a provider, that is why we are entering this advice space as an Accredited Aged Care Professional. More details will follow when we roll this out in early 2020.

16.01.2022 www.efa-financial.com.au

14.01.2022 Not that I'm counting but there are only 16 business days left in this financial year.... so if you've got any last minute super contributions to make or last minute EOFY strategies to implement, don't lose track of the time!

13.01.2022 Due to the early release of super now being available, I thought this was worth talking about. When in doubt, please seek financial advice.

13.01.2022 **ASIC sending warnings to SMSF Trustees*** Did you know that ASIC are in the process of sending warnings out to some SMSF trustees? The latest letter of warning is addressing lack of diversification. ASIC also suggests that on average SMSF trustees should spend 100 hours a year on managing their funds. And then there is a statement suggesting that the majority of SMSF's with balances under $500,000 under-perform large APRA regulated funds. ... Read the full article here https://www.smh.com.au//self-managed-super-can-be-a-losing So if you are going it alone and looking after the investment strategy for your SMSF, maybe it's time to consider getting some professional financial advice. We spend well over 100 hours a year keeping up to date with the current rules, regulations, economic trends and conducting ongoing investment research to be able to provide our clients with the best advice. To get in touch with us please email [email protected]

11.01.2022 On the back of the short-term downturn in global growth and future uncertainty due to coronavirus, today the Reserve Bank has cut interest rates by 25 basis points, meaning we now have a cash rate of 0.5% in Australia. For full details, see Philip Lowe's statement below. https://www.rba.gov.au/media-releases/2020/mr-20-06.html

11.01.2022 My update from home headquarters with special guest appearance from 6 year old Sienna and her gecko. In summary, look after yourselves. Never forget that your health and that of your loved ones is your most valuable asset.

11.01.2022 One day they are just tiny six pound babies in your arms, and suddenly you realise you are about to have a teenager in the house, with just a few short years to go before they may want to fly the nest, as I did when I was 17. I meet many working parents and we all have different arrangements to make our lives somehow come together, some more effortless than others. [ 1,482 more word ] http://shonelvuletich.com//18/raising-kids-juggling-a-car/

10.01.2022 Did you know that over the last 10 years, the cost of living has gone up more than the average full-time salary? This means it is harder for households to save than it has ever been. Some of us though are just not allocating our incomes very well, and getting stuck in a financial situation we don't need to be in. Does this sound like you? We can help you devise a strategy to focus your income, rapidly eliminate your bad debt and get on track to start investing! Make an appointment today.

10.01.2022 Today I'm taking the time to explain to you the difference between Asset Based (Percentage) Advice Fees and Fixed Dollar Advice Fees. It's a touchy subject and some advisers don't like talking about this, but I'm happy to share with you. If you have an existing financial adviser who has been in the industry for over 15 years, more than likely they are used to charging Asset Based Fees on your funds under management, because that's just how it was done. A few have changed to...Continue reading

09.01.2022 Let me explain what you are seeing in this personal image. It's my 12 year old daughter's bedroom in our house that we built recently. It's got no carpet and no blinds yet. We got the keys about 6 weeks ago. She has slept in that swag with no complaints so far, enjoying her new bedroom to herself. She's been sharing a room for the past 3 years predominantly with her two younger siblings. She has never complained. Out the window you can see the appeal of why we built a... house here. We have some acreage in a pretty location and a lot of work to do, but we are enjoying the journey so it's not going to happen overnight. The reason I'm sharing a snippet of my life story is because financial planning is fundamentally about understanding, navigating and improving the stories of all my clients and people that walk into my professional life. In a nutshell, I get to sit down and spend time with people, just like you and me, helping to draw out their goals and dreams, work out what is achievable and set targets to help them get there. I protect them from financial pitfalls too. Plus of course, it's not all roses. I help those who suffer with disabilities and people who are looking after their grandchildren because their kids are struggling mentally or with addictions and their lives are in a state of flux. It's a job that requires a lot of listening to get to the heart of my client's concerns sometimes, not just brushing over the surface. That is where deep connections are formed and we all get so much more out of our time working together. If you want a financial planner to share your story with and help you find the path of least resistance in your journey, or to save you hours of angst and concern when big decisions need to be made, reach out and make a time to catch up with me. I'm happy to share personal experiences of my own with you as well as examples of tests and triumphs of my clients, anything that helps you with the life you want to lead. I respond personally to messages on Facebook so feel free to contact me. All the best for now, Shonel

09.01.2022 The days may be a blur lately but we still know what we are focused on. #thegoodlife #dreambig #financialplanning #teamEFA

07.01.2022 **Aged Care Advice** With a growing need for advice in this space, a few weeks ago I completed an intensive course to become an Accredited Aged Care Professional. I'm very excited to be able to add this to the range of services we offer to existing and new clients, and to their families. Sadly, it is often at this time of the year when we notice our beloved elderly may not be doing so well in their own home and their care needs have to be seriously considered. ... The Aged Care system can be complex and there are some common misconceptions about things such as refundable accommodation deposits (RAD's), the affordability of care generally, or the considerations around selling the family home. Getting sound advice can help you make financial decisions with peace of mind, so that you can focus on getting your loved one the right care for them and making the transition as smooth as possible. If you need advice in this area, I am now fully accredited and ready to help you, so please contact me, Shonel Vuletich for an appointment.

06.01.2022 It's the 1st of July.... thank you all for your support in 2019/20. I know some of you have had a difficult time of it & we are here for you more than ever. I hope there are less curveballs in this new financial year! To my staff, you guys are superstars and I am so grateful to be surrounded by such a motivated, hard-working group of people.

06.01.2022 **Great news guys, another clever mind and set of hands has landed at Essential Financial Advice!!** Talk about your timing... but this has been in the pipeline for over 6 months. Now I promised him a few quiet weeks to get settled in, but that time is well and truly up. I'm happy to introduce you formally to Hugh Heffernan. Hugh is an experienced Financial Planner and joins us after a successful advice career in one of our local banks in the south west who have recently ch...osen to wind down their financial planning division. Hugh and I have had time to get to know each other over the past 3 years or so and he's a lovely guy. Hugh is now diving head first into small business, whilst raising three kids and living a very active lifestyle that puts the rest of us to shame. He is a marathon runner and mountain bike rider and loves an outdoor adventure. He makes me feel tired just talking about the amount of times he goes for a run. Hugh is taking on new clients so if you have a need for financial advice, maybe Hugh is your guy. Hugh particularly enjoys working with farmers and business owners, but he's a knowledgeable adviser and can help you across a wide range of advice areas. Due to Covid-19 we are not doing face to face appointments just yet, but I suspect we will be able to offer these again some time in June. Above all, please know that we are just as good at getting to understand you and your situation through other means such as Zoom and over the phone, so don't let Covid-19 delay you from seeking quality advice. At EFA we now have three Financial Planners including myself (Shonel), Jade and Hugh. Please make Hugh feel warmly welcomed to our EFA family.

05.01.2022 On 22 March the Commonwealth Government stepped up it's economic plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. This is a must read! We will be contacting our clients individually over the next few days to explain how these measures can help them during these testing times. https://ministers.treasury.gov.au//supporting-australian-w

05.01.2022 Happy Friday! See the vid for a really quick message before I take a week off. Enjoy your weekend.

04.01.2022 In response to the ongoing coronavirus and it's impact on the economy, today Scott Morrison has announced a major economic stimulus package which targets five major groups. Here's what each will receive: Welfare recipients: an extra $750 per person Small businesses with apprentices: up to $21,000 to keep apprentices in work through wage subsidies Small to medium-sized businesses: between $2,000 and $25,000 to help with cashflow... Businesses generally (excluding the very largest): the instant asset write-off threshold raised to $150,000 and an extra depreciation discount to encourage investment Affected businesses: access to a new $1 billion fund This information has been obtained from the following article which contains further details about the package. https://www.abc.net.au//coronavirus-stimulus-expl/12048632

04.01.2022 A little Zoom security update for you and positive vibes today There is nothing like a worldwide pandemic to force you to take stock of your life! Some questions below to ask yourself if you are in the frame of mind to do it.... 1. What do you want to put more energy and time into on the other side of social distancing? 2. What has been working well during this time that you would like to continue? 3. Are you reassessing some of your consumption expenses now that you can't go out. Could you live on less/save more after all of this and achieve some financial goals? Spontaneity is great but some things are better with a bit of planning and then finding the right tools or strategies to put them into action.

03.01.2022 I meet a lot of professional women who are absolutely killing it in their career, and have great salaries for their hard work, but don't have the time to learn about finances. So they ignore it, put it in the too hard basket. Newsflash, you don't have to do that. And in case you haven't noticed lately, savings accounts are earning basically nothing! We are here for all of you hard working women to back up that illustrious career and turn it into an all round amazing life. It just takes a little bit of planning and actioning, and we will help you every step of the way. You will wish you had started sooner!

03.01.2022 Did you know that we have a footprint in Perth? Not only that, but I have clocked up 30 trips to Perth this year (and Jade is probably not far behind me) to attend professional development days and to catch up with our Perth based clients. So yes we take on clients in Perth. And it is only natural due to this volume we need to have a base in Perth to enable us to work effectively while we are there, and that comes with perks like being able to bring your dog to your city home office. Meet Gabby :) I hope you are kicking goals on this fine Monday! Shonel x

02.01.2022 We have been a little quiet lately.... but we promise you there are great things coming for 2020. Just as we create a vision and an action plan at EFA.... it begs the question, how are you going with yours? #alwaysplanning #plannerbrain #2020lookout #makeaplan #thentakeaction