Spring has arrived, and with the warmer weather comes a good opportunity to take a fresh look at your finances.
August delivered a mixed set of numbers. Inflation eased to 3.5% in the year to July, though the fall was smaller than hoped, and underlying inflation held steady at 3.6%. That, combined with a pickup in discretionary spending, keeps the chance of another rate rise in September or November alive. On a brighter note, consumer confidence climbed to its highest level since March, the ASX 200 pushed back above 9,000 points, and the Australian dollar finished the month at a three-month high.
In this issue, we cover…
- Why Transition to Retirement deserves a second look: Retirement is increasingly a gradual shift rather than a sudden stop. A Transition to Retirement strategy can help you cut back your hours without a big drop in income, or boost your super in the final working years, yet it’s often overlooked.
- Ensure your estate planning reflects your wishes: Some of your largest assets, including super, may not be covered by your will. With new Budget rules affecting testamentary trusts and ongoing complexity around super death benefits, now is a good time to review your arrangements.
- Grow or stay safe: leave your comfort zone behind: Spring is the season of renewal, and it turns out our brains are built for it. Trying new things, even small ones, strengthens cognitive health and resilience at any age, so consider planting something new this season.
As always, if you have any questions, don’t hesitate to get in touch.