Onelife Financial – July 2024 Newsletter
3rd July 2024
When we help
At Onelife Financial, our goal is to help you reach your potential, whether you are just getting started, building your wealth, preparing for retirement or enjoying life after work.
Get started and set your family up for success
Whether you are starting your first job, buying your first home, starting a family or saving for something special, we want to help give you the best start to your financial journey.
How we can help:
- Set-up a budget to manage your cashflow.
- Review your insurance arrangements and provide recommendations for your growing family.
- Identify lending options to buy or renovate your home.
- Identify investment strategies to help you save for long term goals like your childrens’ education.
- Make recommendations about your super arrangements including personal contributions, salary sacrifice, co-contributions and spouse contributions.
- Recommend if you need to create a Will and an estate plan.
Build wealth and pursue your goals
Life’s really busy now and although retirement is still quite a way off, you want to know that your financial future is secure. This is a time when we can help you build on your financial foundations.
How we can help:
- Set-up a budget to manage your cashflow.
- Review your insurance arrangements and provide recommendations.
- Identify investment strategies to help you build a passive income and save for the long term.
- Make recommendations about your super arrangements including personal contributions, salary sacrifice, co-contributions and spouse contributions.
- Advise on strategies to minimise tax
- Recommend if you need to create a Will and an estate plan.
- Succession planning recommendations for your business.
- Dealing with a redundancy.
Prepare for retirement and beyond
Retirement is on the horizon and you are dreaming about all the wonderful things you are going to see and do in your life after work. Putting the right plans in place while you are still working will give you the comfort of knowing that your future is under control.
How we can help:
- Identify your retirement goals.
Review your income and cashflow requirements. - Assess how much super you have and when you can access it.
- Find ways to grow your retirement income
- Put plans in place to make your money last in retirement.
- Determine when you can apply for the age pension.
- Review your estate plan.
- Succession planning recommendations for your business.
- Dealing with a redundancy.
Make the most of retirement
You are enjoying life after work and all the opportunities that this exciting time in your life presents. At this time in your life you want to know you are going to have the finances to support your adventures and perhaps even leave a legacy so you can share your wealth now and in the future.
How we can help:
- Identify how long your money will last by looking at your income and assets and how they are structured.
- Identify if your finances are structured to maximise government benefits.
- Look at ways to minimise any tax you pay in retirement.
- Recommend superannuation income stream strategies including annuities and pensions
- Review your estate plan.
- Advise on aged care financial strategies.
Buying a home
And can be exciting and daunting at the same time. Your broker will ensure you’re armed with the all the information you need to help you on your way to owning your home.
At Onelife, your broker will do the leg-work for you.
They have access to hundreds of loans from a wide variety of lenders and will work with you to find the loan that suits your individual circumstances.
Take a look at our online calculators. This will help give you an idea of the amount you may be able to borrow and what the likely repayments may be. Once you have an idea of your options, give us a call or email us and we’ll continue the legwork for you and arrange a time to meet to present the right options in detail.
Refinancing Your Home Loan
As time marches on, situations change. Perhaps you’ve changed jobs? Or there’s a new addition to the family? Maybe you would just like a better rate? Maybe it’s the advent of school fees, or perhaps the kids have flown the coop? Or maybe that leaking shower or tired kitchen has just reached the end of its life. A shift in circumstances may mean it is time to revisit your home finances.
For many, the idea of refinancing a mortgage can be daunting. Fees, fixed versus variable interest rates and monthly charges all need to be considered. The right refinanced loan could help you pay off your mortgage faster and for less, clear unhealthy debt or help you upgrade and add value your home, all of which are steps in the right direction.
But where to start?
Investing In Property
It definitely pays to do your homework on the property market before you dive in, and we’re thrilled to be on board to help you when it comes to financing your decision. Recent share market slides, tight rental markets in most capital cities and a whiff of increase in property prices are seeing many mum and dad investors retreat to bricks and mortar.
Generally, property in Australia is still considered to be a sound investment due to steady and consistent increases over time. But it’s not a quick win. Property usually has a seven to ten year cycle, with highs, lows and steady stints in between. Fortunately, an ongoing housing shortage in Australia and a tax system that allows negative gearing on property (where any investment losses can be claimed as tax deductions) continue to favour housing as a solid, long-term investment.
Your broker is your best ally in finding the right lender and loan for your circumstances in this new environment. They can also wade through the many investment loan options on offer, leaving you more time to find the ideal property.