Peak Wealth Management in Sydney, Australia | Financial planner

Peak Wealth Management

Locality: Sydney, Australia

Phone: +61 434 955 417

Address: Level 8, 99 Elizabeth Street 2000 Sydney, NSW, Australia

Website: http://www.peakwm.com.au

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25.01.2022 Our team has always liked this quote especially because it can tie in to you personal wealth so well. If you bought any main asset class as an investment 20 years ago ... it would be worth a lot more today. It makes you take a step back from the day to day stresses and look at the big picture. ... Do the right things over a long period of time and you will be successful. Heres an example: If you could buy your own home in todays prices or in the year 2000 prices... what would you choose?

24.01.2022 The article with a summary and key points, originally shared by money magazine. 2 of the 5 key key summary points from this post are: * .... the following major causes of financial stress are... - Inadequate savings - Rising Living Costs - Unexpected Costs ** 3/4 employees said they dont seek professional advice when making personal financial decisions A basic first step everyone can take is to get clarity on their current position. It is amazing what awareness can do for highlighting fundamental problems.

23.01.2022 Informative article that touches on the ongoing debate on index investing vs active investing. Heres a snippet I thought was well written: "Indexing offers you a low cost way to own and capture the return of the entire market or a segment of it. Active management allows you to express a view on what companies or segments you think will outperform the market over time. By combining both in what is often referred to as a core-satellite approach you can have the best of both worlds."

23.01.2022 Being a part of various groups (typically on facebook and whatsapp) to keep an insight on how people are feeling and the questions they are asking relating to personal financial affairs. Every time we see markets fall there seems to be an increase in commentary about Superannuation and how "it will never go anywhere" "always losing money" etc etc. Same time period in active trading pages have people "wondering where the bottom might be" "buying that stock cheap"... That tells us there is an awareness and education gap. We strive to do more and more in this space. The last two weeks have definitely been bad in many markets - but as we know markets for every asset class markets are always moving. It's important to learn more about how they work from a high level. Here's a link to our ebook (we can physically post it to you as well) written in simple terms to increase the financial knowledge of Australia. https://peakwm.com.au//claim-your-free-financial-foundatio The image is a snapshot of the contents page for the Superannuation (and Investment class) section. The other sections are Cash Flow, Personal Insurance & Life Insurance & Estate Planning. If you have any questions just ask.

22.01.2022 The current crisis has emphasised the importance of the most crucial part to any financial plan, control of your cash flow and the budget figure. This article gives you: - everything you need to have an effective cash flow plan to take advantage of the current environment ... - step by step cash flow budgeting process on how to get clarity on your cash flow - real examples on how to structure and automate a savings plan (personal snapshot) - a clear understanding of what you can do once you are confident in your budget figure - 3 ways to significantly reduce your hard expenses This content has snippets from our EBOOK which gives information, industry tips and worksheets about - cash flow, superannuation, personal insurance and estate planning. You can fill out the form in this article and it will automatically be sent to you or just ask. Peak Wealth Management

21.01.2022 Especially: Self-employed, business owners, sales professionals, employees getting bonuses/commission - read this article. Huge income protection changes begin 31st March 2020 and more to come over the next 12 months. Check out this post, the headings include: - What income protection is? - What changes are happening?... - Why they are happening? - How it can impact you? - What can you do about it? If you dont have income protection cover (personally or through your superannuation) or you havent had it reviewed recently ... there really isnt a better time to have it reviewed to make sure it suits your circumstances. The reality is, if you want to have the same conversation 1.5 months down the track ... there will be significantly less options available for you. Variable income earners that like the security of a guaranteed monthly payment in the event they are sick or injured - wont be able to access this peace of mind in a few weeks time. Business Owners, Sales Professionals, Tradies .... top of this list who this can impact the most.

21.01.2022 Following on from last weeks post about the conversation increase about superannuation ... We want to continue to add some education around this 'Superannuation.' Super is just a tax structure, not an investment. The purpose of it is to hold investment assets in a tax effective environment to help supplement your retirement. ... If you want to learn more than that for today: Page 8 - 12 in our ebook will help understand the investment aspect to it and how your returns can be different year to year depending on what you are holding. Link to the book - https://peakwm.com.au//claim-your-free-financial-foundatio

21.01.2022 We love getting positive feedback off our clients but we dont share the responses enough. So today we are (see image) From a business development perspective, understanding client feedback is so beneficial because its a learning process for the business to see what is really valued by the customer. We took a step back and looked at the last few testimonials that came through to us at Peak Wealth Management ; most didnt put a huge emphasis on specific work completed but ins...tead "clear communication" "good communication" "made it easy for us to understand" Good communication isnt an industry specific skill, but it seems to be what our clients value highly, especially during times like this. In the past few (crazy/lockdown and beyond) months, what have you been doing to ensure your clients are still getting clear communication from you? If you need assistance with anything personal finances related, just reach out.

21.01.2022 Accordingly to some google analytics - in March & April this year it was a topic more popular than usual. This article was written in MoneyMag. It is a good place to start thinking about some of the things that happen/extra work your loved ones will have to go through if you dont have a will/estate plan in place. One thing that might have been left out is failing to plan, not having an effective estate plan and asset tax structuring in place could lead to the tax man being... tipped more than is necessary meaning less for your loved ones. Extra Tip: If you are thinking about this - check out to see who your NOMINATED BENEFICIARY is inside your superfunds because that will be distributed separated to your will in most cases.

20.01.2022 NSW looking to get rid of stamp duty and replace it with a smaller and more flexible annual land tax. By doing this it would reduce the barriers for people changing homes without going financially backwards (in Sydney it would be a $40k+ cost + compound interest on that amount). I cant see any government giving up the revenue that comes from stamp duty so by staggering the payments it changes 2 things:... 1. Barrier to entry/transactions - reducing initial cost of buying and incentivising more transactions to offset the initial amount of government revenue delay. 2. Staggered Payments - it would mean the gov might increase recurring revenue making it easier to plan and the high stamp duty amount wouldnt be bundled into the loan which would accrue interest over the 25-30 year term - therefore passing on the savings in this format. Do you think it would be a positive change?

20.01.2022 This is about a 5 - 10 minute read, designed to give you knowledge about: - what life insurance and income protection is and how it is used to protect you and your family. - how you can use your superfund to pay for all (or most) of your personal insurance premiums. ... If you have any questions or want more information feel free to reach out.

20.01.2022 Useful article during this period of time shared on the MoneyMag page. Few key headings are: - get perspective - foundations ... - get financial assistance - track spending - fix the leaks - reduce debt - look after yourself Plus Peak Wealth Management will happily give a free (no credit card needed on file or anything) account to our Wealth Hub which will help you get organised. Giving you a clear snapshot of your current position. ttps://peakwm.com.au/moneymag-crisis-budget-leaks-fix

20.01.2022 Only takes a few minutes to read, I thought this was a great article explaining why selling everything in a recession isnt a great strategy. If anything, it is a good opportunity to buy discounted assets from people panic selling (eg houses, shares etc). The table shows what $10,000 invested in 1990 looks like today for a few key asset classes. $100k invested into US shares would be now worth $1.8 million. One good quote from the article reads... "Selling during a market correction not only crystallises losses, but it also means missing out on the bounce back, where you see some of the strongest returns immediately following a correction." See more

19.01.2022 Great question asked by Graeme: Should I Increase My Super Contributions During The COVID-19 Pandemic? This came through on Adviser Ratings and here is my response in the link below. I think there is some good value to get from this to improve your financial knowledge.... The answer seems straightforward and simple but there's a few things to consider that we explored putting it all together: Cash flow/Budget Tax benefits of Superannuation Restrictions of Superannuation Economic Potential of having more invested over time (time value of money) It would be great to hear your thoughts on this. #financialplanning #wealthmanagement #personalfinance https://peakwm.com.au/question-should-i-increase-my-super-c

19.01.2022 Article shared a few weeks back, it is even more valuable now than it was when we shared it first. Read, think about and see if you have an opinion. If you have any questions or want any help, just reach out. ... https://peakwm.com.au/confused-about-how-much-you-should-sa

19.01.2022 What a week for entertainment with the Melbourne Cup yesterday, announcements of boarders opening up and a close US election in progress. In terms of a global scale - of those 3, the US election is the big one. It is important to note that what happens in the USA will have impacts on us in Australia. Some positive, some negative.... This article touches on 8 points on what we can expect to change in Australia if Biden wins. 1. Economy 2. Climate Change 3. Trade 4. Big Tech 5. China 6. Alliances 7. Multilateralism 8. Political Environment #election #uselection #economy

18.01.2022 Happy Fathers Day ! To all the dads, step-dads and father-figures in our networks beyond; Thank you for everything that you do. We hope you have had a great day and enjoy the rest of your evening.

17.01.2022 Sharing this article seen online that has some good points when it comes to the financial aspect of a breakup. Separation is common throughout Australia, make sure you get your finances done sooner rather than later ... it can save thousands of dollars (especially if it is a messy breakup). Already had a separation? Theres information available to you too. ... If you need any assistance, reach out - Well send you a copy of our financial foundations e-book or have our specialist adviser have a free initial consultation with you.

16.01.2022 Spend about 10 minutes on this, it will give you everything you want to know about how your personal insurance if affected by COVID-19 and what you can do to protect yourself/family financially. This informative article has it all from: - Topical coronavirus personal (life) insurance questions and answers to impacts and concerns. - Video explaining the current climate from Andrew Debono.... - Explanation of what personal insurance is and what it is for. - A "did you know these 3 things about personal insurance section?" and more https://peakwm.com.au/coronavirus-covid19-personal-life-ins

16.01.2022 With the year weve had so far EOFY rush doesnt seem so crazy anymore. Thought Id share an article in case this is something that has slipped your mind - Getting money into Superannuation (Why? Because for most of us... it is the most tax effective vehicle we have to accumulate wealth.) If you arent under financial stress because of COVID-19 and can afford to top up your fund (or it makes sense to because of your goals, tax position, age, etc) you only have a few days unti...l June 30 to either maximise your superannuation, take advantage of the carry forward concession and other opportunities. Quoted from the article: "With the average superannuation account balance at only $132,646, most Australians arent on track to save enough to meet their retirement plans." Here are the steps you can take to pump up your retirement nest egg before EOFY: Maximise your contributions - Salary Sacrifice - Carry Forward contributions - Government co-contributions of up to $500 - Self-employed contributions - Make a spouse super contribution - Self managed superannuation funds make sure you are up to date admin and paperwork

15.01.2022 It is important to understand what depreciation you can claim in your #taxreturn - this can really help your #cashflow It's not a great strategy to purchase assets purely because of a tax benefit - but it essential to be aware of it and how it will impact you (good or bad). If you own an investment property and don't have a depreciation schedule, enquire about getting one - any good providers that pass clients to won't recommend one unless they will receive an actual $$ benef...it from it. #investingtips This short article was posted in MoneyMag and the point of it is to speak to a Quantity Surveyor if you are investing in property so they can provide you with a depreciation schedule. Peak Wealth Management

14.01.2022 There is around $1.1 billion in lost shares, bank accounts and life insurance. What is unclaimed money? Unclaimed money is money from lost bank accounts, shares, investments and life insurance policies. This money becomes lost when you move house and forget to update your details with a financial institution or company.... Unclaimed money received by ASIC is transferred to the Commonwealth of Australia Consolidated Revenue Fund. It is available to be claimed at any time by the rightful owner and there is no time limit on claims. Bank accounts become unclaimed after 7 years if the account is inactive (no deposits or withdrawals). Life insurance policies become unclaimed 7 years after the policy matures and is not claimed. Find out more about unclaimed money laws on the ASIC website. Interest paid on unclaimed money Interest is paid on unclaimed money, calculated from 1 July 2013. Find out more about how interest is paid. How to claim your lost money If you did an unclaimed money search and found some money, you should lodge a claim. Claim details are below for different types of lost money: - Bank accounts and bank dividends - Life insurance policies - Shares and investments Didnt find any lost money? You can search for other types of unclaimed money on other government websites: - Australian Taxation Office - Search for lost superannuation by registering for the Australian Taxation Offices online services via myGov. - State government - Search State government websites for deceased estates, lost share dividends, salaries and wages, cheques, over-payments, proceeds of sale and more. - Fair Work Ombudsman - Search the Fair Work Ombudsman website for unpaid wages. How to stop your money from becoming unclaimed Here are some ways you can stop your money from becoming unclaimed: - Make a deposit - Update your details More information available.

14.01.2022 Millennials are the brokest and richest generation. We came across some very interesting articles outlining how millennial individuals have less money compared to previous generations their age, however millennial households have more money coming in. A study found millennials to be pretty reckless with their money compared to previous generations, and take on more debt!... But another study found millennial households to be earning more than previous generations did! So are they rich or poor? or both? Either way, getting into good savings habits mean millennials can catch up financially! And faster than previous generations. #millennials #investing #savings #financialplanning

12.01.2022 Whether you want to pay for a holiday, buy a house or cover education costs: the sooner you start, the more youll save. Find out how to get the most out of your money and reach your savings goals sooner. Start a savings habit.... Small changes can make a big difference. There are simple ways you can save money every day. Heres a few; 1. Set a savings goal to help you stay on track and avoid dipping into your savings. 2. Start saving today. The sooner you start, the more youll earn in interest and the sooner youll reach your goal. 3. Automate your saving. Set up a direct deposit so part of your pay goes straight into savings. 4. Put some money aside for unexpected costs. Youll be glad to have some money set aside if something goes wrong. If you want to learn more about our structured and proven to work cash flow strategy - just ask and we will send you our latest book. #cashflow #budget

11.01.2022 Some positive news to come from a difficult first half of 2020. Few points: - Australian job ads are beginning to rebound, growing in number for the fourth fortnight in a row.... - In the fortnight ending 7 June, advertised roles soared by 60.6%, as businesses begin reopening. - However, while growing, the number of ads still hasnt returned to pre-pandemic levels while the number of jobseekers has grown significantly. This is a great time to putting a plan in place, for the bad times and the good.

11.01.2022 Great points to take away from this article written by the Authors at Money Magazine. Easy to understand and gives a good foundation to the benefits of reviewing your Superannuation. #superannuation

09.01.2022 Australias recovery from the recession caused by COVID-19 really will be a mixed bag. If I look at my own family; it varies from total employment loss to busier than usual. Quote from article - "While the coronavirus lockdowns and border closures took a wrecking ball to the economy, especially the tourism and services sector, the road back from COVID-19 will not be consistent for all industries or states."... "The Deloitte Access Economics Business Outlook report confirms the economic recovery from the coronavirus will be like a game of snakes and ladders for different sectors as they attempt to return to normal activity." It is important to note that some are thriving, especially those that were able to adapt quickly. Many were forced to change processes and get new technologies eg. WFH, Zoom and other online services. In this climate, it is important to be aware of your position and revisit your plan (individuals, couples and businesses) because I cant think of anyone that is not impacted - It is a time to make sensible decisions. Historically, the brave are rewarded for making good decisions purchasing good quality discounted or undervalued assets at these times and those that are forced to sell can lock in a capital loss that can hurt for a long time.

09.01.2022 This article is worth a read, it takes about 3 minutes and is from MoneyMag. It shares some relatable context along with great lessons when it comes to failures and when you feel like you are losing by relating it to chess ... in particular losing your queen. [With a financial spin on it] In 2020, it is more than understandable that many of us feel like that right now. ... A section I thought was valuable - "When you lose your queen, whatever that might mean to you in real life, the trick is to learn to put emotion aside and respond according to what is right in front of you." Would be great to hear your thoughts on the article.

09.01.2022 There has been a lot of discussion about ideas on how to limit negative impacts on our economy come September (the end of JobKeeper/JobSeeker in its current form). This is an interesting opinion piece written in the Australian Financial Review yesterday. A few key points to look out for:... - true unemployment rate (how are we vs previous recession) - fiscal support ending in September (going cold turkey might have some severe impacts) - will there be future tax increases in the short/medium term? - how will this impact business and consumer confidence? - unconventional action may need to be taken What we have taken from it? Businesses, families and individuals need to be already having a plan in place for good, bad or ugly scenarios. Opportunities can present themselves at all times.

08.01.2022 The ASX has shared a warning for people not to fall for fake or misleading news. It is essential that you make well informed financial decisions. Dont use one social media post as the basis for your whole investment plan. This extends to Australian Tax Office and Bank SCAM phone calls. ... Please ensure you dont give your personal details out over the phone if you are not certain who it is. One good way to find out is to get a reference number and call the organisation/department/company back based on validated information.

06.01.2022 Sharing this article that can help investment property owners (or those in the planning stage of purchasing an investment property) save a significant amount of money on an annual basis. It highlights 3 mistakes that Australians make. 1. Getting the depreciation category wrong 2. Assuming depreciation on older properties cant be claimed 3. Overlooking deductions... If you havent already, it might be worth reaching out to a good property surveyor to ensure you are getting the most deductions available from your properties. Ask for a depreciation schedule. We are happy to put you in touch with great operators in that space.

06.01.2022 This article says it all in the title. What do you do to track your household spending? #cashflow #budgeting

06.01.2022 New website is now live :) Check it out - Check out the home page as well, half way down it has the video showing off the client app

04.01.2022 With the current crisis being because of a health concern ... it makes sense why more people have been reviewing their personal insurances. Like all insurances, it is a good way to reduce the financial risks of certain events. This article covers off on a few important points in relation to personal insurance: ... information about what life insurance and income protection is how you can use your superfund to pay for all (or most) of your personal insurance premiums. how it is used to protect you and your family

04.01.2022 About 5 mins reading but well written article that brings forward some positive impacts of synergies at the top end of the country - Government & Banking. https://peakwm.com.au/blog-government-more-efficient-econom The article was written before the crisis, since we have actually seen some of these synergies take place especially in relation to healthcare, tech and stimulus.... "Harmonising banking and government leads to less friction in the economy and more resources for services" If the synergies and the tech are improving between banks and governments ... is having 4 big banks still viable in our relatively small Australian market?

02.01.2022 Interesting to see people taking advantage of the current crisis and purchasing assets at a discount. A snippet of the opening: "Sydney, the countrys most expensive market, has unsurprisingly seen one of the biggest rises, with nearly one in seven properties selling at a discount in March and April or twice the rate as this time last year."

02.01.2022 Ive seen a lot of activity in my personal network with changes in jobs recently. This article covers off on a few key things you need to consider that can drastically improve your personal wealth over time. Check your:... - superannuation - personal insurances - cash flow/pay cycles (ensure you have a cash reserve) If you want more information please feel free to reach out and ask or download our latest e-book about getting your financial foundations right (link in the article).

01.01.2022 Few minute article how home buyers are in a strong position because of the current crisis. - Overview + forecasts - Low interest rates ... - Sellers more willing to negotiate - First home loan deposit scheme still available - Job security still being a key influencing factor Key things to think about, we are seeing good opportunities in all kinds of asset classes. Theres a section there to get the Peak Wealth Management free e-book called The Essential Personal Financial Foundations Guide: The Current Crisis Edition

01.01.2022 Its coming up to that time of the year - if you expect a refund, be prepared to lodge. The money is better off in your account than in the bank of the Australian tax office :) :) :) This will help with your cash flow and planning for the 2021FY ... If you have any questions reach out, we have a lot of proactive accountants, tax agents and tax specialists in our network.