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Aged care report goes to the heart of Australia’s tax debate
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Removed super no longer protected from creditors: court
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ATO investigating 16.5k SMSFs over valuation compliance
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The 2025 Financial Year Tax & Super Changes You Need to Know!
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Investment and economic outlook, March 2024
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The compounding benefits from reinvesting dividends
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Three things to consider when switching your super
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Oldest Buildings in the World.
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Illegal access nets $637 million
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Trustee decisions are at their own discretion: expert
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Regular reviews and safekeeping of documents vital: expert
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Latest stats back up research into SMSF longevity and returns: educator
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Investment and economic outlook, February 2024
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Planning financially for a career break
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Could your SMSF do with more diversification?
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Countries producing the most solar power by gigawatt hours
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Labor tweaks stage 3 tax cuts to make room for ‘middle Australia’
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Quarterly reporting regime means communication now paramount: expert
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Plan now to take advantage of 5-year carry forward rule: expert
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Why investors are firmly focused on interest rates
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Super literacy low for cash-strapped
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Four timeless principles for investing success
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Investment and economic outlook, January 2024
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Wheat Production by Country
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Time to start planning for stage 3 tax cuts: technical manager
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Millions of Australians lose by leaving savings in default MySuper funds
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Vanguard economic and market outlook for 2024: A return to sound money
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An investment year of ups and downs
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How to tame the market's skewness
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The Countries that Export the Most Wine in the World
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Tips for preparing for the best tax outcomes
Article archive
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Quarter 4 October - December 2023
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Quarter 3 July - September 2023
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Quarter 2 April - June 2023
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Quarter 1 January - March 2023
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Quarter 4 October - December 2022
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Quarter 3 July - September 2022
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Quarter 2 April - June 2022
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Quarter 1 January - March 2022
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Quarter 4 October - December 2021
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Quarter 3 July - September 2021
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Quarter 2 April - June 2021
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Quarter 1 January - March 2021
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Quarter 4 October - December 2020
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Quarter 3 July - September 2020
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Quarter 2 April - June 2020
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Quarter 1 January - March 2020
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Quarter 4 October - December 2019
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Quarter 3 July - September 2019
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Quarter 2 April - June 2019
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Quarter 1 January - March 2019
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Quarter 4 October - December 2018
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Quarter 3 July - September 2018
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Quarter 2 April - June 2018
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Quarter 1 January - March 2018
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Quarter 4 October - December 2017
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Quarter 3 July - September 2017
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Quarter 2 April - June 2017
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Quarter 1 January - March 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 2 April - June 2016
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Quarter 1 January - March 2016
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Quarter 4 October - December 2015
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Quarter 3 July - September 2015
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Quarter 2 April - June 2015
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Quarter 1 January - March 2015
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Quarter 4 October - December 2014
Quarter 3 of, 2017 archive
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ATO to release further guidance on reserves
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A real-world benchmark for SMSF performance
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How is your super going, ready for retirement?
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Our 'hardest' SMSF tasks
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Lack of literacy promotes unrealistic goals
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Young investors: Time is on your side
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Is your SMSF retirement-ready?
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Key Economic Indicators, 2017 - updated
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Investors acting their age
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ATO locks in details, addresses panic on real-time reporting
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Government ‘undermines’ tax system in new moves on property expenses
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Multiple super accounts in a 'gig' society
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Why Australian retirees aren't happy and what we can do about it
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Doing a budget is a good idea but ....
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Technical expert flags estate planning strategies for 2017-18
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Government to shut down salary sacrifice loophole
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Items that heat up your depreciation deductions
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‘Tens of thousands’ of SMSFs at risk with ECPI
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Do’s and don’ts of estate planning
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LISTO to help boost women’s super
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Smart ways to stretch retirement money
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Low economic growth likely for years
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Recorded Crime - Offenders, 2015-16
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Adequacy of savings still a concern among Australians
Doing a budget is a good idea but ....

... available time usually stops most people.  On the other hand, if you use the budget tool on our site you can develop a budget over time rather than having to get it all done in one go.  Available 24/7 as well.

To access the Budget tool simply go to our website and click on either the financial tools, secure client portal or calculators button.  Use either your past login details (Hint: your e-mail address is almost always the username).  If you've forgotten your password then simply request a new one.  For first time users, you'll need to click on the Register button first.

 

           

 

Once logged in click on Cashflow in the left panel and then Budget.  An extra bonus of using this tool is that some of the information you add is automatically fed into other tools such as Income, Super, Assets and Liabilities.  The final picture you develop is of your complete financial structure and position.  You can even share this data with your accountant or financial planner who can then help you better manage your financial affairs.

Getting professional assistance can be a significant help to anyone.  These tools can be a great help to your children as well.  

You may think that working on a Budget or cash flow isn’t your cup of tea but when things are tight or you need to look long term then there is no better way to manage how your money is used. 

The following images are examples of available financial tools and also there is an informative longer article below called "Cracking the money code' about overall financial literacy.    

 

These tools are an added service to help you, our clients, gain more from the what we provide.

Budget Cash Flow
 
Cash Flow Summary  

Super Super Optimiser

Making time for a quick trip to our website is a good thing to do, it has all the tools you need and more. Also any information you add that’s relevant to other tools is automatically transferred saving you time and effort.

Give it a go. Start with a Budget or Cash flow analysis or Super scenario. Whatever you add will be waiting until the next time you log in.

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Cracking the money code

Literacy is the key that unlocks a world of knowledge. In the investment world financial literacy is how investors can crack the code of our sophisticated and at times complex world of money.
The issue of financial literacy is both broad and multi-layered. At one end of the spectrum there are those people who are effectively shut out of the modern financial system because their lack of financial literacy means they cannot access even the most basic of financial products.

The National Australia Bank first commissioned research by the Centre for Social Impact back in 2011 and recently updated the work in June 2013. It defines financial exclusion where individuals lack access to appropriate and affordable financial products such as transaction accounts, general insurance and a moderate amount of credit.

The research found that about 17 per cent of the adult population in Australia are either fully or severely excluded from financial services. A big concern is that the figure is rising not falling.

Improving financial literacy is a significant challenge and there are a range of initiatives underway including getting basic money management skills embedded in the school curriculum nationally.

ASIC has responsibility for implementing a national financial literacy strategy and a strong focus of that strategy is looking at improving educational pathways and content.

That is to be applauded but clearly this is an issue that ranges from the basic - understanding mobile phone contracts, credit card debts and household budgeting - right on up to more sophisticated challenges like understanding your superannuation.

As our superannuation system continues to grow and mature it is likely to have an ever-increasing role in educating Australians around long-term savings and planning for their retirement.

Australia's superannuation system is world-class in terms of a system structured to build retirement savings. But one of its core strengths - the mandatory nature of contributions from salaries - brings with it the issue of lack of member engagement because the majority of fund members do not actively make decisions either about the fund or the investment approach.

By its design there is a paternalistic side to our super system that works in a behavioral sense against fund members being fully engaged with their super account in the same way that they are with their banking or credit card accounts.

Ask yourself - or friends/work colleagues - when was the last time you checked your super fund balance?

The other factor working against super is its long-term nature - it is not hard to put off doing something when you can't get your hands on the money for 30 years.

Financial literacy is an essential life skill if people are to function and succeed in the modern world. Education and banking services are clearly on the front line of improving financial literacy, but increasingly there must be a role for super funds because they are going to be much more integral in people's lives as the system grows and the population ages.

 

By Robin Bowerman
Smart Investing
Principal & Head of Retail, Vanguard Investments Australia

 

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