Planning for Prosperity in Fullarton | Financial planner

Planning for Prosperity

Locality: Fullarton

Phone: +61 8 8333 0790

Address: 242 Glen Osmond Road 5063 Fullarton, SA, Australia

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

Likes: 113

Add/Update information

Reviews

Tags

• Financial service
• Financial planner

25.01.2022 Earlier this year, Daniel was featured in a News.com.au article around cashflow and budgeting. https://www.planningforprosperity.com.au/fight-back-agains/

24.01.2022 Transitioning a family farming business to the next generation We recently advised a couple in their late 50s on how they could best transition their family farming business to the next generation. From our experience, the most important thing to address first in any family succession plan is the financial security of the parents. Its virtually impossible to transition the farm without knowing how the people who are exiting the business will be able to support themselves. [ 526 more words. ] http://www.planningforprosperity.com.au/?p=931

23.01.2022 It surprises me how much faith people have with their superannuation investments, especially those with Industry Funds. Much of this is predicated on fairly decent average returns over the last 10, 15 and 20 years and reflects the growth in prosperity of much of the developed world. Generally, comparable retail investment funds have achieved similar returns though its almost impossible to do a fair comparison because of the diverse range of underlying investments that can be used by an adviser to create a portfolio. [ 489 more words ] http://www.planningforprosperity.com.au/bringing-understan/

21.01.2022 Were at the YP Field Days! Drop by and say hi like this guy!

20.01.2022 From 1 July 2017 there will be some key changes to superannuation which may affect you. In particular, those who are planning to make contributions or draw an income stream should review their strategies and seek professional advice. Reduced age-based concessional contribution cap The age-based concessional (tax deductible) contribution cap reduces to $25,000 per year. Currently, the cap is $35,000 for anyone over 50 and $30,000 those below. [ 570 more words ] http://www.planningforprosperity.com.au/will-you-be-impact/

20.01.2022 With 30 June fast approaching, time is running out to make any last super contributions before a raft of important rule changes from 1 July 2017. Concessional contributions From 1 July 2017, the concessional (deductible) contributions cap is reducing to $25,000 for everyone. Previously, it was $35,000 for people 49 years and older at the end of the previous financial year and $30,000 for everyone else. [ 390 more words ] http://www.planningforprosperity.com.au/pre-eofy-2017-supe/

20.01.2022 Cognitive dissonance is the uncomfortable feeling we get when we hold two conflicting thoughts at the same time. An example is knowing you should do something but avoid it. One way to make this feeling go away is to apply mental gymnastics in order to justify a making the bad decision. We all do it, myself included. A classic example is when someone starts a diet. I ate the donut because Ive been really healthy this week. The more uncomfortable we feel with the thought, the more we say and do to try and make peace with it. [ 500 more words ] http://www.planningforprosperity.com.au/farm-succession-pl/

19.01.2022 The process of investing money can be quite tricky. There are many different markets and options to choose from, which can make it quite overwhelming for most. Identify your timeframe Before a single dollar is invested it is important to know the purpose of the investment other than to make money. A good starting point is to ask yourself how long the money will be invested for. [ 464 more words ] http://www.planningforprosperity.com.au/3-key-steps-succes/

19.01.2022 Another annual SMSF Association conference comes to an end in Melbourne.

16.01.2022 On Friday, Daniel had the opportunity to weigh in as a guest on ABC Radio National's Modern Dilema segment. They talked generally about the competing lifestyle factors and peer pressure that a retiree might face when deciding to downsize their home. https://www.abc.net.au//modern-dilemma---do-i-sel/11432486

16.01.2022 Were back at the SMSF Association conference in 2018!

15.01.2022 Making the invisible, visible. from a personal financial perspective The stats relating to the number of people who seek financial advice and support is only about 20% of the population* which is rather a small number when you consider that virtually all people in the workforce have some form of debt, superannuation or insurance. There has been plenty of promotion by Industry Superannuation Funds, various articles and programmes in the media as well a plethora of new Government legislation which youd think would trigger more people to investigate their financial position and what they can do to improve their prospects. [ 290 more words ] http://www.planningforprosperity.com.au/making-invisible-v/

15.01.2022 This article in the News Financial selection suggests people are maybe living in Pixie Land when it comes to planning their superannuation. The article reports new research by Apia Insurance has found that three-quarters of people aged over 55 say they have been financially preparing for retirement. However, Planning for Prosperity senior financial adviser Bob Budreika said statistics showed that only 17 per cent of Australians were retirement-ready and the rest are living in pixie land. [ 115 more words ] http://www.planningforprosperity.com.au/biggest-financial-/

13.01.2022 Super splitting is a section of superannuation legislation thats not well known or used by individuals and financial advisers. Principally, the reason is that it can only be used in limited instances. Nevertheless, in the right situation, it can be a fantastic financial advantage to couples. So what is super splitting? This allows a spouse to transfer their employer and salary sacrifice contributions to their partners super account. [ 434 more words ] http://www.planningforprosperity.com.au/super-splitting-ca/

12.01.2022 Planning for Prosperity do Christmas with First Choice Accounting. Proud winners of our first cricket match by 1 run.

11.01.2022 Much has been written about the effects of the changes to the asset test assessment from Jan 1st 2017 for those receiving the Aged Pension. There is another section of the retired community that hasnt had the same publicity: those people in Aged Care. Their situation is quite different because they have existing agreements with the facilities and there is an expectation that both parties will honour their contracts. [ 226 more words ] http://www.planningforprosperity.com.au/impact-1117-centre/

10.01.2022 This afternoon we had the opportunity to listen to former prime minister, John Howard speak at iCON17

09.01.2022 RETIREES worried about tougher new age pension rules are trying to lower their Centrelink-assessable assets through buying funeral bonds and other strategies. Financial services group KeyInvest says its monthly funeral bond inflows in the September quarter were 60 per cent higher than 2015-16s monthly averages, and it expects the increased attention to continue in the lead-up to the January 1 rule changes. [ 399 more words ] http://www.planningforprosperity.com.au/1018-2/

09.01.2022 I probably take for granted what I know about the superannuation system but it still always amazes me the number of baby boomers who have never heard of the 'Transition to Retirement' strategy, let alone have one implemented. Selfishly, I love it when I get to be the one who explains it to them! Essentially it involves making tax deductible contributions into super whilst drawing a tax effective pension income stream at the same time.... ...Ok, but why? The multiple layers of tax savings means not needing to draw as much pension income out to supplement the contributions made. With more going into super and less coming out.... wait, where's my abbacus... It can help to boost retirement savings before even discussing how the money is invested or what fees are being paid. It can be applied in many different ways to meet a client's objectives, such as paying off debt. It's totally legitimate and has been around since the Tax Laws Amendment (Simplified Superannuation) Bill was passed in 2006. The larger the super balance, the more effective it is. This is why I bang on about it to my clients years in advance. As I repeatedly say to anyone who will listen... "If there's money on the floor, you'd pick it up" **For the compliance boffins and common sense deniers, salivating with their pitchforks and torches - this is general information only and should not be taken as personal advice, as clearly I don't know if this is relevant for you**

08.01.2022 Any good farm succession plan starts with recognising there is a need to address how and when the business is passed on to the next generation. Other considerations which complicate this process are providing an income for several generations whilst wanting to provide an inheritance to off-farm children. [ 515 more words ] http://www.planningforprosperity.com.au/everyone-want-farm/

08.01.2022 Probably the most popular business structure used by farmers are family trusts. In this article, well discuss why theyre used, as well as their advantages and disadvantages. How a Trust works Trusts are interesting entities because nobody actually owns the assets of the trust. They are held in trust and administered by the trustees of the trust who have been appointed by the trust appointor. [ 441 more words ] http://www.planningforprosperity.com.au/family-trusts-pros/

07.01.2022 How will the revision of the pension assets test affect your payment? Del Irani explains.

07.01.2022 Daniel Budreika has provided input to a News Corp article reported today on how the 2.1 Million small business owners may not be able to retire they way they want. This is based on research from MYOB indicating that 50% of small business owners under 50 have done no superannuation planning MYOB CEO says: "Our research shows that SMEs believe they will need around $1 million to retire comfortably yet 54 percent of them will not have saved enough when the time comes, says MYOB CEO Tim Reed. [ 144 more words ] http://www.planningforprosperity.com.au/small-business-own/

06.01.2022 Tuesday 3rd of May saw the release of the Federal Budget for another year. For those who missed it, this years theme is Jobs and Growth, which is slightly more appealing than Fiddled with things. But what does it mean for farmers and small businesses in the rural community? While there are many things to note, Ive picked out a few key points that may be the most relevant. [ 437 more words. ] http://www.planningforprosperity.com.au/?p=941

05.01.2022 Workshops in June - Resilient Communication and Financial Success. Wudinna 17th June, Cleve 18th June and Cowell 19th June Even when things are S**T and you cant control the natural elements, you can control how it affects you. In this workshop you get the lowdown and dirt on how simple words can change your life - personally, professionally and financially. The workshops are funded by Country SA PHN through the Australian Governments PHN Program to benefit people in dro...ught affected areas. Cherry is married to a farmer on Yorke Peninsula and Bobs clientele are mainly farmers. We know coming to these workshops is the best use of some of that money thats gone to the ATO - make the most of it and come along - youll be glad you did!

04.01.2022 Hmmm... not quite what the farmers wanted in Cleve.

04.01.2022 Bob Budrieka has again been quoted as a subject matter expert in a recent Daily Telegraph article highlighting how improper use of your super fund can result in a big fine or even a prison sentence. Large penalties for misuse of SMSF Anthony Kean reports that "SELF-managed super funds are being illegally used to pay household bills, lend money to family members and even buy groceries." Those who break strict super rules are risking hefty tax penalties: $10,000-plus fines and potentially jail. [ 160 more words ] http://www.planningforprosperity.com.au/improper-use-super/

04.01.2022 UPDATE: 6000 food packs have been ordered to Port Lincoln by Premier Jay Weatherill, and 000 services are intermitent. http://bit.ly/2dJ086i

04.01.2022 This years Federal Budget was not as controversial as previous years, however there are still changes which may affect you and your family. Additional super contributions from proceeds of downsizing your home From 1 July 2018, individuals aged 65 and over will be able to make an after-tax super contribution of up to $300,000 ($600,000 for couples) from the proceeds of the sale of their home, providing it was held for a minimum of 10 years. [ 465 more words ] http://www.planningforprosperity.com.au/federal-budget-201/

03.01.2022 On Friday, Daniel had the opportunity to weigh in as a guest on ABC Radio Nationals Modern Dilema segment. They talked generally about the competing lifestyle factors and peer pressure that a retiree might face when deciding to downsize their home. https://www.abc.net.au//modern-dilemma---do-i-sel/11432486

03.01.2022 It started with an article that led to a discussion with an industry colleague this week... We were both bemused as to the number of advisers who *still* believe 'Strategic Advice' means spending 90% of a client meeting discussing investments and how they will fiddle with a portfolio. It's not. Of course it's important to identify how much risk to take.... Of course it's important to ensure investments are re-weighted annually. But that's not why you'd engage with an adviser - or even continue to use one. Strategic advice begins with truly understanding a client's situation - where they are now and where they would like to be - and making recommendations that add value and make a tangible difference. Saving unecessary fees, taxes and qualifying for benefits and incentives. Baby boomers especially. The opportunities are immense. Products and investments pale in comparison to competent, personalised advice. Once you have plan drawn up, colouring in between the lines is easy.

03.01.2022 AUSTRALIANS are being urged to reinvent retirement, and it starts with seeing age 50 as only the halfway point of our lives. As life expectancy increases, so we are seizing opportunities to pursue new careers activities and hobbies, but advisers not that this means financial factors must be considered at a younger age than this has been in the past. [ 219 more words. ] http://www.planningforprosperity.com.au/plan-early-second-/

02.01.2022 Centrelink changes to impact retirees We usually discuss a range of financial issues in our monthly articles. This month weve decided to focus on the Centrelink changes as they will affect those retirees in your community or those that will be applying in the near future. Even if you arent receiving Centrelink youll appreciate the looming problem for many retirees. [ 389 more words. ] http://www.planningforprosperity.com.au/centrelink-changes/

02.01.2022 How much do I need to retire? A common question we often get asked is How much do I need to retire? Obviously this depends on many factors such as; the age you and your spouse stop working, how long you live for, how much you will need to live on each year and how the money is invested. A US Study on safe superannuation withdrawal rate [ 507 more words. ] http://www.planningforprosperity.com.au/safe-withdrawal-ra/

01.01.2022 There have been some negative headlines in the press recently criticising investment fund managers of underperforming their relevant benchmarks. These results were highlighted in the most recent S&P Global annual scorecard which tracks the performance of almost 1,000 actively managed funds versus their benchmark index. An index is simply a way of tracking a number of investments in a particular class as a whole, such as Australian shares. [ 489 more words ] http://www.planningforprosperity.com.au/active-management-/

01.01.2022 Time and Patience is key to Successful Investing Theres no doubt that time seems to be a commodity that we all think is in short supply. This almost seems absurd when you consider how weve progressed as a society that enjoys virtually limitless access to so many time-saving services and products. Unfortunately, the disadvantage of all this is that weve perhaps become less patient, demand more and have high expectations in all matter of things. [ 264 more words ] http://www.planningforprosperity.com.au/time-patience-key-/

01.01.2022 A recent Herald Sun article on how deeming rates that have not been updated since March 2015 are impacting pensioners income also included commentary from Bob Budreika What is a deeming rate ? Deeming rates are the amounts that pensioners are assessed to earn on their financial assets such as cash or shares. Read more about the deeming rule changes from Jan 2015 [ 141 more words ] http://www.planningforprosperity.com.au/pensioners-lose-hi/

01.01.2022 Many people we deal with are blissfully unaware that their super beneficiaries may end up paying a large amount of tax on their account balance when they pass away. This applies to all people but particularly those who have relied upon their employer mandated contributions or made personal deductible contributions, such as small business owners. Super is either Taxable or [ 539 more words. ] http://www.planningforprosperity.com.au/?p=918