Sound Life Financial Blog
Hello and thank you for visiting our Blog page! In this space, we cover a range of topics within the financial services field with the aim to assist you in understanding your finances and helping you to achieve your short and long term goals.
Please note that the information provided on our website is general in nature and does not constitute financial advice so before you make any changes or amendments to your existing circumstances, please talk to a financial planner or your accountant.
Diversification is Key - An Investment Insight during the Pandemic
As Covid-19 has demonstrated, there is never a better time to show the benefits of a resilient portfolio - one that is well diversified - to ride out the volatility and impact that such events can have on global stock markets and consequently, your investment dollars.
Where Will You Live Out Your Retirement?
If retirement has been on your mind lately and you like the idea of relocating - maybe a sea or tree change is on the cards? While COVID-19 may have thrown a spanner in the works by limiting your options, it's never too soon to consider what your retirement may look like and where you'd like to see out your golden years!
Falling Victim to Financial Fraud - Are you at Risk?
More and more Australians are falling victim to financial fraud. There are currently a number of scams circulating, attempting to take advantage of Australians during this vulnerable time. These include phishing, text messages, emails and phone calls that are all designed to look like they have come from a legitimate source.
The Importance of Binding Nominations
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All too often we hear stories from clients and families who have been faced with significant conflict when a loved one or family member has passed away, conflict that could have been avoided had their loved ones financial affairs been in order and/or regularly updated and reviewed.
Acts of Kindness and Supporting our Not-for-Profits
As many Australians continue to grapple with the devastation of the bushfires that ravaged so much of our country for nearly nine months, Coronavirus has tilted our axis in a way we could never have believed.
Investing In Exchange Traded Funds (ETF's) During COVID-19
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What a tumultuous couple of months our world has experienced due to COVID-19. From a financial perspective for many, this has caused stress and concern due to the financial downturn and the state of the stock market, and consequently your superannuation and investments.
COVID-19 Economic Response: Businesses
In this article, part two of a two-part series, we provide a comprehensive overview of the policies pertaining to support for businesses, as well as aspects of supporting the flow of credit.
COVID-19 Economic Response: Individuals and Households
As it stands, in terms of COVID-19*, globally, there has been a reported 1,273,990 cases, 69,444 deaths, and 260,247 recoveries. And, domestically, there has been a reported 5,687 cases, 35 deaths, and 757 recoveries.
The Coronavirus Update
With all the stress and restrictions being made regarding Covid 19 (Coronavirus) we just wanted to let you know that our personal service to our valued clients will continue throughout these unprecedented times.
Did You Know About the Early Access to Super Announcement?
Our Treasurer, Josh Frydenberg MP, made some big announcements on Sunday 22 March 2020.
One of them was the early release of superannuation for eligible persons in light of those impacted by the Coronavirus.
ESG Investing - What's all the fuss?
Environmental, Social & Governance (ESG) Investing falls under the ethical investing umbrella and there are a broad range of ESG investment options to consider if this is something that you'd like to explore.
Reflections from the Beach
Work/life balance - is there such a thing? Is it possible to achieve? So many things can tip the scales either way on any given day and the work/life balance can look vastly different from one person to the next.
How Do You Manage Your Cash Flow?
Cash flow management is a great way of diving deep into your personal finances in order to assess your cash flow situation. By getting really clear on where your money is coming from and where it's going too, will greatly improve your ability to make important financial decisions around your lifestyle choices.
5 Reasons to Review Your Personal Insurances
At Sound Life we believe It's a good idea to review your insurances as your needs and circumstances may change over time. Here are our top five reasons to consider reviewing your personal insurances:
Salary Sacrificing to Super
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Salary sacrifice (often included as part of your salary packaging) occurs when you, as an employee, agree to forgo an amount of your salary pre-tax in return for an equal amount to be contributed to your super by your employer.
6 Stages of Financial Planning with Sound Life
So, you've never engaged the services of a Financial Adviser but wonder what's involved?
What some may view as complex and overwhelming, we hope that by walking you through the steps, you will feel more comfortable and informed.
Protecting Your Super
The Federal Government have passed the 'Protecting Your Super' legislation which means that from 1 July 2019, super funds will cancel insurance on accounts that have not received any contributions or rollovers for a period of 16 months.
Small Business Planning for 2019
Thinking that 2019 may be a great year to start, build or repurpose your own business? We thought this post might help to provide some insights into being a business owner, with a handy little free checklist to consider if business ownership is on your radar.
Personal Insurance - What Does It All Mean?
Personal insurance cover is designed to make sure that you and your family are able to maintain a reasonable standard of living in the event that you are unable to work due to illness or injury, or in the event of your death.
Budgeting - The 50/30/20 Rule!
Budgeting, for some, is not the most exciting of topics, in fact it may well have you running for the hills!
New Beginnings & Spring-Cleaning
Spring is about growth and renewal - out with the old and in with the new and we are very excited to be launching our ‘new look’ website today.
Getting on top of finances - Tips to get you started.
If we change nothing, nothing will change!
In this blog we impart some tips we think are useful in getting you started on the right track to thinking about your finances and beginning the planning process.
Small business CGT concessions
This blog is all about the eligibility criteria for CGT concessions for small businesses as well as the four CGT concessions that may be available to you when considering the sale of an asset.
Life Event: Claims process for personal insurance
Claiming on your personal insurances at a time that is both financially and emotionally stressful can be a daunting process. We help you better understand what may be involved by looking at the steps commonly associated with making a claim.
Why bother Planning Money
Are you a natural born planner or someone who prefers a life of spontaneity? Interestingly, planning forms part of our everyday lives regardless of the type of person we might be. We plan to get to work on time, to go out for dinner, we drive a car that was planned and then built for us to drive. A bit of planning can make a big difference...
The 6 Ages of Wealth (Part 6 – In your 70s)
Our final blog in the 6 part series! The 70's. It's what we work so hard for all our lives. Holiday's, family time and a more relaxed pace. Now is your time and with the help of a financial planner you'll live this decade and beyond free of financial stress and full of enjoyment.
The 6 Ages of Wealth (Part 5 – In your 60s)
Now we've hit the 60's. All the hard yards are done. This decade is all about enjoying life. You are retired or very close to it and are planning the years ahead which for the most part will have limited responsibilities and endless opportunities. If you've planned right! We can still help though and inside this blog you'll find some helpful tips.
The 6 Ages of Wealth (Part 4 – In your 50s)
Next in our series, we are going to explore the 50s. What a great time of life! Now is when we start thinking about transitioning into retirement and making sure we'll meet all the financial goals we have for retirement. Read on to see our 6 tips for this decade.
The 6 Ages of Wealth (Part 3 – In your 40s)
Are you in your 40's? Is it true what they say, that life begins at 40? This weeks blog - Part 3 of our series, focuses on this decade. The years where life is going well and it's time to plan for the next stages in life.
The 6 Ages of Wealth (Part 2 – In your 30s)
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Next in our 6 part series we focus on the 30s. A time of excitement and joy but it can also be a stressful and costly time of our lives.
The 6 Ages of Wealth (Part 1 - In your 20s)
This is the first of six blogs in which we discuss each decade of our lives to age 70. We will cover what the decade potentially has in store for us as well as 6 tips that our team at Sound Life think are relevant for each decade.
Life Insurance Costs Double for Smokers
Life insurance costs are more than doubled for some of those who smoke cigarettes and may lead to a lack of insurance at some ages according to financial rating service CANSTAR.
Concession Cards Explained
Ever wondered what each of the Government concession cards are and if you are eligible to apply for one. This blog explains all the different cards available, whose eligible and what the benefits of having one are.
Financial Coaches
If you are one of the people seeking financial advice and coaching as opposed to being sold a product, give us a call 98411688
Young Drivers and Insuring the Risks
Young drivers have the highest fatal crash risk of any age group. Per kilometre travelled, they have the highest involvement rates in all types of crashes, from those involving only property damage to those that are fatal.
The following article is a little insight into insuring the risks and how it may benefit you in the future.
What is the benefit of a financial planner?
I’ve been told I should see a financial planner but I can’t see the benefit of it. My husband and I only earn around $100,000.00p.a, we have 2 small children in primary school and we are paying off a mortgage. We really don’t have that much money left over to invest in anything. Is it worthwhile paying for advice?
A great question! One we are asked all the time. Now for some answers......
Insurance for the Young
For most young Australians, Insurance to protect Income, Life or Health is the furthermost thing in your minds. The unfortunate reality is that no one is untouchable and without adequate cover should the unthinkable happen your family may be left in financial hardship. The following are a few reasons to think about insurance while you're young......
Understanding Super
Superannuation is one of the best ways to save for retirement. In this blog article we explain some of the key tips to think about when trying to utilise the benefits of super to it's best advantages.
Costs of Buying a Home
For most people at some stage in their lives, one of the most major financial goals is going to be buying their first home with your first concern being saving for the initial deposit. That being said, do you know about the other costs that you need to be aware of? This article is a great first look at being prepared for the extra costs associated with buying a home. Take a look as being prepared will save a lot of financial stress and hardship in the long run.
Small Business Financial Pitfalls and how a Financial Planner can help.
Many elements go into making a small business a success. The following article is an insight into how a financial planner could be the one thing your business needs to help make it successful.
Claim Time
Personal insurance is a complex area, where guidance from a knowledgeable and caring adviser can add an immeasurable amount of value.
12 Reasons Why you may Need to Talk to Your Financial Adviser
Whether assisting you to meet small day-to-day goals through to handling emotional life changes, purchases of large assets, or assisting your family with their needs over time, financial planning is a step you can take today to alleviate the stress for your future self.
Superannuation And The Self-Employed
Alarming figures from a 2012 Australian Bureau of Statistics report show that almost 25 percent of self-employed workers, including tradespeople and small business owners, have no superannuation.
Plan Your Future With A Financial Planner
Australians, on the whole, enjoy a high standard of living and financial opportunity. But an increasingly volatile and uncertain economic climate may just provide us all with the motivation to reflect on, and review our financial future. Why not take the opportunity for a financial spring clean?
Renting v Buying a Home
Owning property has long been the great Australian dream. However does it make more financial sense to rent? Many may look at the incredible increases in value of the property market through the mining boom and think that buying is the obvious choice...
Goal Setting
Setting goals can give us the motivation to accomplish something that is too far in the future for us to care. Goals can vary in how far in the future they are with retirement seen as a long term goal for many, whereas buying a new car is a much shorter term...
Repaying Non-Deductable Debt v Super Contributions
With the current low interest rates leaving excess cash in the bank isn’t as attractive as it once was. Deciding on what to do with your hard earned cash can be tough so we will look at different options. The two strategies that we will assess is reducing your non-deductable debt and contributing to your super.
