Welcome to the August 2015 edition of the Melbourne Financial Management Group newsletter.
In news this week, the Australian Institute of Superannuation Trustees has today released the paper, âBusting the $1 Million Retirement Mythâ which quashes arguably Australiaâs foremost authority on superannuation Jeremy Cooperâs view that Australians need $1 million in their retirement kitties. We have the full article as one of our news story today.
Also in news has been the announcement by banks to increase interest rates on investment loans which has many ripples for clients. Those who have investment loans will see an increase in interest payment, those renting may see a future increase in rents, and the banks will see an increase in profits. This in turn we would hope will be passed onto clients in the form of dividends for those who hold shares in the Big 4 banks directly or within their superannuation/ pension / managed funds. The full write up about rising interest rates can be found in our article banks rate rise pain to be widely feltÂ
This time of the year sees your annual statements arriving in the post from superannuation, pension and investment providers. This is a great time to think about reviewing your situation and ensure any plans that you have put in place are current and still meeting your needs. So much can change over a year, and can include changes to your personal circumstances, legislation, tax and the economy, therefore it is important that your plan is up to date and considers all these changes. If you feel now is the time to up-date your plan or review your situation, please let us know.
We are grateful for the feedback we continue to receive about the newsletter. We will strive to incorporate this feedback into our future editions so please bear with us in the meantime. As always, if you have any questions or feedback about any of the articles in this edition, or further suggestions please feel free to contact us.
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