Redgum Financial in Ashgrove, Queensland | Investing service

Redgum Financial

Locality: Ashgrove, Queensland

Phone: +61 7 3394 8399

Address: 240 Waterworks Road 4060 Ashgrove, QLD, Australia

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

Likes: 173

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• Tax preparation service
• Investing service
• Financial planner

24.01.2022 Another good reason to find your lost super before its too late. I recently helped a client find a lost super account, it was for four years worth of work but only had $500 in it. If he had found it earlier it might have been thousands more. You can search for lost super here - http://www.ato.gov.au/individuals/content.aspx... http://www.news.com.au//super/story-e6frfmdi-1226499605604

23.01.2022 What do a 25 year old and a 65 year old have in common? Not much, but often their superannuation is invested in exactly the same way. This is because people usually dont choose their superannuation investment option and are placed in the default investment option (usually balanced) by their super fund. This dangerous situation means that 65 year olds can have up to 70% of their funds in higher risk categories such as shares and property while 25 year olds have around 30% of ...their funds in low-return, low-risk assets like cash and bonds. It can make more sense to tailor your investment options to your investment goals, if you have a long time before you need to access the money it may be sensible to invest in growth orientated assets like shares and property. While if you are planning on using your money in the short term it might be better to store it in safe havens such as cash. If you would like a professional handling issues like this for your superannuation give us a call or email and wed be happy to have a no-cost, obligation free look at your superannuation arrangements.

23.01.2022 Well done to Matt Gooding, one of our clients who in just a few short months has gone from working for the man to launching his own business, it is possible: http://theinteriorsaddict.com/100-year-old-ship-timber-rebo

23.01.2022 This is why I love my job, I just helped a client with an income protection claim - they got $17,000 for four months of work due to a badly broken arm. Without this money they would have probably lost their house.

23.01.2022 Well done to Anna Gooding for taking out our first competition! For those that missed out on the $25 voucher, here is an idea that might put much more than that in your account every year. Step 1) Check your home loan rate... Step 2) If it is more than 5.64% go to step 3, if its less than 5.64% then pat yourself on the back because youve got a great deal. Step 3) For every 0.1% more your rate is than 5.64%, give yourself a point Step 4) Multiply the number of points by the number of thousands of dollars you owe on your loan. (i.e. if you rate is 6.00% and you owe $400,000 then multiply 3.6 X 400 = 1,440 Step 5) The result is the amount of money you could be saving each year by changing home loans to the best deal we are aware of. Step 6) If you would rather this money be in your account each year and not the banks, contact us and we will figure out what your switching costs and whether its worthwhile to change. Best of all, you wont have to pay us because we will get remunerated by the lender if you do decide to change.

22.01.2022 Kudos to ING for passing on the rate cut in full, on the day it was announced. I hope the other banks are taking notice...

22.01.2022 Investing your money is a lot like surfing. Its tempting to stand on the shore to watch for the best wave, but by the time youve paddled out to it youll just end up in the wash. The only way to ensure you catch the best waves is to look for a good spot, paddle out to it and wait. Yes, it will be wet and... cold out there, but when that perfect wave appears youll be ready to catch it. Dont wait to invest your money in the hope that the financial market will improve. Often by the time its looking good, the market has already moved.

22.01.2022 Redgum Financial is currently finalising the required paperwork and should be fully operational by the 14th of March 2011

22.01.2022 First home buyers... you have until the 11th of October to sign a contract on an existing property and receive the $7,000 grant. If that doesnt suit your timeline you may be interested to know that there is another government scheme which could help you own a home sooner. Its called the first home saver account and the government will contribute up to $1,020 per year to a special purpose account if you are saving to buy a home.... There are some important eligibility criteria to satisfy, so before starting one you need to make sure it fits with your individual goals and timelines. If you would like to find out more we would be happy to help. http://www.news.com.au//grant/story-fndban6l-1226475550686

20.01.2022 If you were the lucky recipient of $1000, in what form would you prefer to receive it wages, rent, dividends or interest? You may not be aware that receiving money as a dividend from an Australian-based company can deliver a big bonus. The reason is that companies are taxed on their profits, so when they distribute profits (via dividends) they can include a tax benefit called a franking credit. So $1000 in fully franked dividends is the equivalent of $1428 in interest, wages or rent.

19.01.2022 Your car, your furniture or your income? What would you miss most if it was gone? Probably your income right, but according to Comminsure while 71% of people have car insurance and 60% have contents insurance only 6% of people insure their income. That is despite 1 in 6 women and 1 in 4 men likely to suffer a disability involving six months of more off work. The good news is that premiums are tax deductible and if you cant afford it your super can pay the premiums.... If you need help with income protection, wed love to discuss your options. http://www.news.com.au//face-/story-e6frfmd9-1226449004807

18.01.2022 Children are expensive and it only gets worse with age Im told. To ensure that we have enough to provide Alice with a good education and every opportunity I recently started an investment for her. By contributing $100 per month into an insurance bond and increasing this amount each year with inflation by the time she is 25 we should be able to give her $100,000 to help her on her way (based on a 5.9% return). To provide a psychological edge and ensure I can keep this up for ...25 years I treat this amount like a bill, its paid from the bills account automatically each month and is factored into the overall plan. In my experience very few people can keep to a savings plan but almost everybody pays their bills when they fall due.

18.01.2022 Have you ever looked behind the couch and found some spare change, looks like Germany did that and found 3,400 tonnes of gold that is worth about $140 billion. http://www.businessspectator.com.au//Germany-gold-reserves

18.01.2022 Would you like to know the four most expensive words ever spoken? No they are not, Will you marry me but rather this time its different. These four words can be heard at every market high and every market low and have cost investors billions of dollars. In 2007 we were in the midst of the China boom and all we were hearing was about the commodities super-cycle version of this time its different. That the emergence of China meant you couldnt lose investing in the st...ock market, that this time is was OK to over-pay for companies because future growth would be so strong. As we all know the boom (in share prices at least) ended with the GFC in 2008 but that didnt stop those four words costing anyone who listened to them again. In 2009 the stock market was trading at ridiculously low levels, quality companies were returning 10% or more in dividends alone but those four little words prevented people from taking advantage of them. This time its different they said, the world is entering a global depression, the US and Europe will collapse, the world will never be the same... They too were proven incorrect with the passage of time. The people that acted on those words bought in 2007 at overly inflated prices and sold in 2009 at ridiculously low prices locking in huge losses. The people that had a plan and stuck to it ignoring the conventional wisdom were the ones that came out ahead.

18.01.2022 Have you ever wondered why the rich get richer and the poor stay poor? Its called compound interest. It is such a powerful force that Albert Einstein called it the eighth wonder of world. Heres how it works. Lets assume you purchase an investment asset and it increases in value by 10% per year, after 20 years it hasnt gone up by 200% (20 years X 10%). It has in fact increased by 672%.... This is because in every year after the first year you are not only enjoying a return on your original capital but also on the accumulated interest from all previous years. Our tax system in Australia also favours this because the gains you make arent taxed until you sell the asset and realise them. Even then the tax is half what you would pay on income you earned from a job (provided the asset is owned for more than 1 year). So if this is the first time you have thought about compound interest since Year 10 Mathematics, then maybe it is time to consider how it can help you achieve your long term financial goals.

17.01.2022 Over 60 and still working, you are probably paying too much tax. In 2005 the government made it legal to access some of your superannuation tax-free. By combining this rule with salary sacrificing you can end up with an improved after tax income and the same superannuation contributions. Or better still the same after tax income and more contributions. I call it salary sacrifice without the sacrifice and it could be just what you need to get your super back into shape.... To find out more send us a message.

15.01.2022 Sooo... your bank didnt pass on the full RBA cut, heres what you can do about it: 1) Complain bitterly 2) Shrug your shoulders and move on 3) Talk to us about finding you a better deal... If you choose either option 1 or 2 then nothing much will change but option 3 could make a big difference to you over the long term. For example if you kept your repayments the same but were able to reduce your interest rate from 6.0% to 5.7% you would save 2 years and 4 months of repayments or $50,603 on a $500,000 loan. There are many trips and traps and exit fees do still apply on some loans so it is important to talk a professional about all the advantages and disadvantages before you change anything. If you need any help we would be happy to assist.

15.01.2022 DID YOU KNOW a 1% difference in your annual super return wont mean you have 1% more at retirement, it could mean up to 25% more. Thats the difference between overseas holidays in Europe or overseas holiday in Bribie Island, between buying cat food for your cat and buying cat food for your dinner. Some tips to find that extra 1% - If you have multiple accounts it may be better to consolidate them into one to reduce fees.... - If you have changed jobs and/or addresses you may have lost super. - If you are a long way away from needing the money, the default investment option may not suit you and a more aggressive approach could deliver you higher long term returns. Of course if fixing your superannuation is right next to preparing your tax return on the to-do list we can help by reviewing your current setup and suggesting ideas to improve it.

12.01.2022 Do you have more than one super fund? It might be costing more than you think. CASE STUDY: I met with a client last year who like many of us had accumulated superannuation accounts from various jobs. He knew that he should do something about it but navigating the maze of forms, information and identification requirements meant it was always at the bottom of the to-do list. He figured that at most he might have been losing out on $100 a year by not consolidating. When I did th...e comparisons I found he was paying $500 per year more in fees than he needed to and was paying $500 per year for unnecessary life insurance. We took care of all the forms, hassle and follow-up. In the year that has passed his fund has earned back our initial fees 18 times over and he can now look forward to a more comfortable retirement. If your super is in the too hard basket give us a call or message and we can arrange a cost and obligation free meeting to see what you are missing out on.

12.01.2022 "I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old." Warren Buffett the worlds best investor on why he eats choc chip ice cream for breakfast.

12.01.2022 Is someone you know and care about considering retirement? Here are three things they need to know: 1) Super inheritance tax - If your superannuation eventually passes to your adult children it can be taxed at up to 16.5%. For a $500,000 balance thats a potential tax bill of $82,500. The good news is that if you plan ahead and seek the right advice this can be substantially reduced or eliminated.... 2) Age pension - A couple can have up to $1 million in assets (excluding the family home) and still qualify for a part pension and associated concessions. How these assets are structured can be critical in determining how much age pension you will receive. We recently helped a client increase their pension from $380 per fortnight to $550 per fortnight simply by changing the way their assets were structured. 3) Investments - Many people are tempted to invest only in safe, short term assets during their retirement. With ever increasing life expectancy it is likely that your retirement will be a long-term event and investing only in cash and term deposits could mean that you run out of money before you run out of life. A better approach may be to separate your short, medium and long term needs and then invest accordingly. If you need a hand planning for your retirement wed love to sit down and have an obligation free chat about your options.

12.01.2022 Brad happy after helping another client with their home loan

09.01.2022 Happy Friday! Banks are falling over themselves for your home loan business right now, so if youd like to see how much you could save by refinancing simply email me [email protected]

08.01.2022 Can any one guess how much change this is? Ill give a $25 Coles Myer voucher to the closest person and Ill double it if you are within $5 of the actual total. Hint: Its all 5 cent pieces One guess per person and you must be a liker of our page to enter. Just put your guess in the comments section.... Good luck!

07.01.2022 As of Friday all of the big four banks have increased their standard variable rate for home loan customers between 0.15% and 0.20%. If you havent reviewed your home loan recently now could be the time, some banks havent increased their rate and competition for owner occupiers is intense. Several banks are offering variable rates below 3.99% and others will match or better this if asked.... If youd like to know if theres a better deal out there, talk to our mortgage broker and we can make it easy to compare, switch and save.

06.01.2022 Happy Friday! Banks are falling over themselves for your home loan business right now, so if you'd like to see how much you could save by refinancing simply email me [email protected]

03.01.2022 Did you know - By splitting your minimum monthly home loan repayments in half and paying them fortnightly you will save 5 years and 8 months off a thirty year loan. Based on current interest rates and a $300,000 loan thats a saving of $126,276. (For this example we have assumed constant interest rates of 6.3%)

01.01.2022 DEBT: The good, the bad and the ugly! When it comes to debt I typically classify it as good, bad or ugly. Sorting out what types of debt you have and planning accordingly can really boost your finances. Bad debt is debt that has been used to buy a quality asset that is used for private purposes; the most common example is a mortgage. I call it bad debt because there is no income being generated by the asset and there are no tax deductions for the interest paid.... Good debt is debt which is used to purchase an income producing, capital appreciating asset. Generally this is debt to purchase a property, business or invest in somebody elses business (shares). I call it good debt because not only do you have an income stream (rent, dividends) to help pay the interest on the loan, you can also claim the interest as a tax deduction. The other great thing about this type of debt is that you can always sell the asset to pay back the loan. The worst type of debt to have is ugly debt, this is debt that has been used to either buy assets that dont produce income and fall in value (like widescreen TVs) or often to buy intangible things (like holidays). Its ugly because not only are there no tax deductions, no income and no appreciating assets but it usually attracts double digit interest rates. Paying off ugly debt can be one of the most rewarding investments you will make, the after tax return from paying off a persistent credit card debt at 20% is the same you will make from a savings account paying 30.3% (for the average income earner). Of course if you need some assistance sorting the good from the bad and paying off the ugly, wed be happy to have a chat.