Want to be your own boss but not sure where to start?

Some people’s dream is to nurture a business idea through to success. Calling the shots, working their preferred hours and achieving financial independence fires their dream.

Many people have a great idea but are overwhelmed when they look to turn their idea into a thriving business. Here are 5 tips for translating your dream into reality. 

Your life insurance is flexible and can be adapted to your changing needs.

Make sure you have a cover review with your adviser every 12-18 months to ensure you’re covered for just the right amount, paying the right amount, and getting the best value from your policy.

With all the convenience of credit cards and buy before you pay available today, it’s all too easy to fall into the trap of living beyond your income. But what does this convenience really cost you?

Popular in the days before compulsory superannuation, investment bonds fell out of favour as super became the preferred tax-advantaged environment. Investment bonds can be a cost-effective, tax-effective, and convenient way to pass on your wealth, and with tighter restrictions on super contributions and increased market uncertainty, bonds might be worth a fresh look.

When the media starts reporting higher interest rates and spiralling price rises, their next story will almost certainly scream the impending doom of a possible economic recession.

There’s one thing for certain, we all have the same amount of time each day. How is it then that some people seem to accomplish more, sometimes even while doing less, in their lives? You need to focus on working smarter.

Here are some productivity tips from billionaires like Bill Gates, Jeff Bezos, Warren Buffet, and Richard Branson, to help you work smarter:

Headlines and opinions are flying left right and center following the Reserve Bank of Australia (RBA)’s ninth rate hike in a row in February, and its governor, Phillip Lowe, asked to front a recent parliamentary committee hearing with a “please explain!”. We thought it a good time to dive into why it is that the Reserve Bank are so keen to tame inflation.

Did you have a savings account when you were young? It wasn’t uncommon and those old Passbook accounts funded many a first car.

Now you’re a parent, are you thinking of opening an account for your kids? Record low interest rates have taken some of the fun out of watching bank accounts grow, but there are alternatives.

More people are turning to the share market in pursuit of higher investment returns. For new share investors, this means understanding not only the higher risk profile of share investments, but also the different ways in which the returns on shares are taxed.

Now that you're a parent, you have to start thinking about how to teach your kids about money. If you don't want them to be broke and unhappy when they grow up, you need to start early. Here are some tips for getting started.

Unfortunately, too many people fail to set aside emergency or ‘rainy day’ savings to help see you through life’s hiccups. So when an unexpected expense arrives, you find yourself under financial pressure. This pressure can lead to decisions to max out credit cards and apply for expensive short-term loans. And so begins a cycle of falling behind on essential bills and other regular payments.

Australian households are the fifth most indebted in the world, according to 2020 data from the OECD . Based on their research, a household with a disposable income of $100,000 has a debt of approximately $203,000. With rapidly rising interest rates and rampant inflation, the cost of living will only continue to escalate.

Money, finances, investments… it is easy to see why, logically, financial success could be considered a numbers game. However, real financial success requires much more than just numbers that work.

It also requires passion, interest, determination, commitment, perseverance, optimism, resilience, and more. This is why mindset is such a critical ingredient to the financial success equation.

Research by CommBank has shown that 43% of millennials are investing to create wealth so they will be financially independent, with 45% favouring property investment, followed closely by the stock market at 38%.

These figures will likely come as no surprise, given Australians’ love for property ownership, in the land of the ‘Great Australian Dream, but what drives young investors to property vs portfolio? And could these drivers be drawbacks?

According to Microsoft Work Trends Index, Australian workers reportedly suffered a higher level of burnout at work compared to anywhere else in the world. 62% of Australian workers and 66% of Australian managers experienced burnout, compared to the global averages of 48 and 53% respectively.

As Dolly Parton once said, 'Don't get so busy making a living that you forget to make a life'… 

When Mike died suddenly and unexpectedly Sally, his wife of over 30 years, was overcome not just with grief, but also with worry. Not only did she lose her best friend and soul mate, but Mike had also always been the family money manager. While Sally knew they were financially comfortable, in the shock of her sudden loss she had no idea how she was going to cope with her new situation.

As your life changes and your responsibilities expand, your life insurance should expand with it. And if you’re thinking that sounds like a lot of effort, think again. Most policies allow you to increase your cover without any medical checks or complicated forms when major life events occur, like having a child or increasing your mortgage. In fact, that’s exactly how your cover is designed to work.

One of the most common questions I’m asked as a financial adviser is “will I have enough to retire?” It truly is the million-dollar question!  

With so many variables involved, there is no set answer, but these days with so many of us expecting to live longer, at least one million dollars is the minimum required to fund a comfortable retirement.

This might come as a shock to many, and a lot of people might think that figure is only achievable by winning the lottery, but I can assure you that it is achievable. It requires planning and commitment… and a little bit of magic called compounding.

Each new generation will treat money differently to the last, but children of the 21st Century certainly have many more uses for money than those of the last century. Not all that long ago a bike or a doll was a 5-year-old’s dream gift; now it’s an iPad!

As we start the new year and ponder how fast the last 12 months have disappeared, many of us find ourselves thinking about our aspirations for the future.

Let’s face it, we’ve worked hard throughout the past year, and now is the time to reflect on what we have achieved; where we want to go; and what we need to get there. These times of reflection are critical to our lives whether we run our own business, are employed, or retired.