Welcome to the March issue of Financial Insights and Updates 2024
Our video this month “Her Investing Story”, along with our article “Why women should take early financial steps”, discusses the importance of women taking charge of their finances early in order to close the gap on earnings and super balances.
These discrepancies are made worse by statistics showing women are living longer than men by four years. For some women, this probably all sounds quite overwhelming—but it doesn’t have to be.
With good planning, and by taking some simple, early and achievable steps—making a few small changes in your life—it’s quite possible for women to improve their longer-term financial outcomes.
Other interesting articles this month include:
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Career Breaks – What you need to know before you go – covering key financial considerations before taking a sabbatical
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Is Worker’s Compensation Enough? – highlighting the need for additional insurance cover where worker’s compensation may fall short (e.g. non-work-related injuries)
As always, feel free to forward any articles to friends and/or family who may benefit from the information.
In signing off, please remember that we are always available to answer any questions or queries you may have—and we encourage you to speak with us before making any major investment decisions.
Warm regards,
The Wealth Connexion Team
Feature Video
Vanguard Economic and Market Outlook
Why Women Should Take Early Financial Steps
Many women will need to do more to build up their super balances by the time they retire.
There’s a wealth of data showing women, on average, earn less than men and have lower superannuation balances.
Read more:
https://mcusercontent.com/a3e36438b5af3c2f99abd4701/files/8a3bc8f3-3ffb-1a8b-c5b2-aff7543a5327/Wealth_Connexion_1._Why_women_should_take_early_financial_steps.pdf
More Money for Living the Retirement Dream
The caps on what you can contribute to your super are changing—just in time to take advantage of tax changes.
Read more:
https://mcusercontent.com/a3e36438b5af3c2f99abd4701/files/f8dd9ca9-2e95-6691-df3c-6711c4e0330f/Wealth_Connexion_2._More_money_for_living_the_retirement_dream.pdf
Career Breaks – What You Need to Know Before You Go
In today’s fast-paced world, it’s becoming increasingly common for people to take a break from their careers to focus on other areas of their lives—such as spending time with family, pursuing further education, or simply resting and recharging.
Before waving goodbye to your job, it’s important to consider how this decision will impact your finances.
Read more:
https://mcusercontent.com/a3e36438b5af3c2f99abd4701/files/1e78fea7-050b-7170-b109-aa770490ecc5/Wealth_Connexion_3._Career_Breaks_What_you_need_to_know_before_you_go.pdf
Giving Your Portfolio a Caffeine-Inspired Boost
With interest rates likely to fall this year, borrowers could invest some or all of their mortgage repayment savings.
Read more:
https://mcusercontent.com/a3e36438b5af3c2f99abd4701/files/e651f5c7-9bff-4806-a6f6-dc56e8b97795/Wealth_Connexion_4._Giving_your_portfolio_a_caffeine_inspired_boost.pdf
Avoid Passing Bad Money Habits On To Your Kids
Generally speaking, Australians are financially savvy—we understand the how and why of managing money effectively. Unfortunately, that doesn’t always translate into action.
As parents, we’re role models. We play a key role in shaping our children’s values and beliefs. Like little sponges, they absorb our behaviours, pick up on signals, and mimic our actions.
Read more:
https://mcusercontent.com/a3e36438b5af3c2f99abd4701/files/6e26cc87-25b5-73cd-5875-da262f41ef6c/Wealth_Connexion_5._Avoid_passing_bad_money_habits_on_to_your_kids.pdf
Is Worker’s Compensation Enough?
No matter what kind of job you have, there is always a possibility of falling sick or getting injured.
That’s why every Australian workplace has a health and safety obligation to provide a safe working environment, assess risk, and hold workers’ compensation insurance.
While workers’ compensation is beneficial, it may not provide enough financial support for you and your family—even if you have a successful claim.
Read more:
https://mcusercontent.com/a3e36438b5af3c2f99abd4701/files/61359575-1286-9f63-9276-a484665b298b/Wealth_Connexion_6._Is_Worker_rsquo_s_Compensation_Enough.pdf
Disclaimer
This information is of a general nature only and does not constitute specific advice. We strongly recommend that you seek professional advice tailored to your personal circumstances before acting on any information contained herein.
While sources are considered reliable, no warranty is given and no liability is accepted for any statement or opinion, or for any error or omission. Past performance is not a reliable indicator of future performance.
Please refer to the Product Disclosure Statement (PDS) before investing in any products mentioned. This information is current as at the date of publication.
