NSW COVID-19 SUPPORT PAYMENTS

The whole team at Jennings Financial Services hope that you and your families are staying safe and healthy during the difficult times with the COVID-19 Lockdown & Pandemic. We are always here to help and discuss any possible financial difficulties or stresses you are experiencing, however if you would like to seek additional information or help, we have listed some of the payments available below and websites to gather further information. COVID-19 disaster payment The payment helps workers who are unable to earn money due to a COVID-19 lockdown or hotspot. Available to eligible people in a Commonwealth-declared COVID-19 hotspot. Pandemic leave disaster payment You may be eligible for financial support if you can't earn money because NSW Health has directed you to self-isolate or quarantine for 14 days or you are caring for someone who has COVID-19. Test and isolate payment A one-off payment of $320 to help meet the cost of wages lost whilst self-isolating at home waiting for COVID-19 test results. The payment is [...]

By |2021-08-19T11:29:05+10:00August 19th, 2021|Community Activity, Tips and Other News|0 Comments

Helping your Children – Financially

As a parent you probably have great expectations for your child. They will have everything you had and more! You will consider their every need and make the most of every opportunity to help them get ahead, right?  Whilst every parent wants their child to be healthy, happy and financially secure, figuring out how to get them there is another thing. Working with a financial adviser can help you understand options available to financially help your children, and teach them how to take control of their financial future once it is time for you to step out of the equation, and them to step up. Introducing these discussions as a family from early on means you can get help for your children that will serve them well into their future. Savings It’s never too early to start a good savings system. If your child gets pocket money for helping out around the family home, birthday money and other small [...]

By |2021-04-13T12:20:17+10:00April 13th, 2021|Tips and Other News|0 Comments

Financial Advisor – Worth it?

Is It Worth the Money to Hire a Financial Advisor? Vanguard Study Calculates the True Value of a Financial Advisor Among the most common questions financial advisors hear is, “Why on Earth should I hire you when I can manage my own money? I have a Superannuation Account and if I want to make other investments there’s a ton of information and advice available on the internet.” We totally understand the question. Financial advice typically costs 1 percent of your portfolio per year. So, yes, people want to know if they are getting what they pay for. Vanguard, one of the world’s largest investment companies, has been examining this question for 15 years. Based on research, analysis, and testing, Vanguard has concluded that, yes, there is a quantifiable increase in return from working with a financial advisor. Vanguard calls this advantage the Advisor’s Alpha. When certain best practices are followed, the result can be an Alpha in the 3 percent [...]

By |2021-01-18T14:50:41+11:00January 18th, 2021|Tips and Other News|0 Comments

More than one super account?

Did you know there is over 10 (Source) million Australians with a superannuation account, approximately 36% of which hold more super accounts, which make up  $20.8billion in ‘lost super’. Is some of that yours? Find it Moved house? Changed jobs? Don’t know where your teenage self stashed your super? It’s easy to track it down. Consider Combining it Save on fees, reduce your paperwork, keep track of your hard earned money, grow your retirement fund. But seek professional financial advice first to make sure combining is beneficial for you. Ask your financial adviser Many websites offer to help find and combine your super. It is quick, easy and free. You can ask your financial adviser for help, check with your known superannuation provider or the Australian Tax Office. Grow it A professional financial adviser can help you find an appropriate superannuation fund that will grow your hard-earned income ready for your retirement – and the sooner you get on top [...]

By |2020-11-16T11:43:01+11:00November 16th, 2020|Retirement, Tips and Other News|0 Comments

Risks of moving to Cash…

The risks of moving to cash in times of crisis When it comes to investing through a crisis, are investors better off in the market or in cash? A look at 4 scenarios. As markets unravelled early 2020, there were few places for investors to hide. As the coronavirus spread at an alarming rate across the globe, equity markets sold off indiscriminately, causing many panicked investors to sell riskier assets in exchange for cash. Flight to cash Parting ways with equity investments at or near a market bottom isn’t a new trend. Many investors have approached equities with caution since the Global Financial Crisis (GFC) in 2008-09. During times of crisis, many investors who’ve worked their whole lives saving for retirement, start thinking about what happened during past recessions, such as the Global Financial Crisis (GFC). Memories of these prior events, coupled with the barrage of frightening headlines from media outlets, can make it tough to maintain a planned asset [...]

By |2020-11-04T11:34:17+11:00November 4th, 2020|Tips and Other News|0 Comments

Looking after your Household Expenses

Take the pain out of managing your family’s finances. Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress. Here are some tips to help you effectively manage your household finances. 1 | Examine your finances Sitting down as a family and figuring out how much money is coming in and going out may help you gauge the state of your family’s finances. A clear picture of your household income and expenses could set you up to manage your cashflow better. 2 | Rein in spending Keeping expenses under control can be tough in a large household. But if you’re spending as much as or more than you’re earning, you might want to consider limiting your family’s discretionary costs by buying only what you can afford. 3 | Set financial goals Setting financial goals as a family may help you work towards future aspirations instead of [...]

By |2020-08-25T11:05:21+10:00August 25th, 2020|Tips and Other News|0 Comments

What Drives Member Outcomes

Fees and returns are important drivers of a member’s super balance. They’re also easy to measure and for members to understand. That’s why super funds have focused on delivering competitive returns and low fees for their members. But CoreData research shows that fees and returns are not important drivers of retirement outcomes. In the real world, retirement outcomes are about more than money. They’re about more than the super balance; and they’re about more than fees and returns. Please click on the link below to see the article in full https://www.newmodeladviser.com.au/2505/start-making-sense-episode-4-why-super-fund-fees-and-returns-dont-drive-member-outcomes/ CoreData is a research house. If you would like to discuss further, please contact our office. Author: Jason Andriessen

By |2020-07-01T12:40:17+10:00July 1st, 2020|Tips and Other News|0 Comments

End Of Financial Year

The financial year is a 12 month time period that is used for tax purposes. For Australians, the financial year ends on 30 June, with the next financial year beginning on 1 July. From 1 July through to 31 October both individuals and businesses are required to submit a tax return form to the Australian Taxation Office (ATO). The ATO then use this form to determine how much tax is owed to the government, or how much the government needs to reimburse the individual/business if they have paid more tax than was owed. End of financial year checklist Before you get stuck into your tax return this year, make sure that you have considered the following: Credit cards Make good use of your tax return by using to pay off any credit card debt you may have. Rather than using the cash you receive to fund more purchases, use it to pay off your debts and get your financial [...]

By |2020-06-18T14:09:53+10:00June 18th, 2020|Tips and Other News|0 Comments

Three realities and three mistakes

If market declines make you nervous, then you’re not alone. Especially now, when COVID-19 and its economic impact are fuelling feelings of uncertainty around the world. But while bear markets can be extraordinarily difficult, they also can be moments of great opportunity. Investors who find the courage and conviction to stick to their long-term plans are often rewarded as markets bounce back. To help put recent markets into perspective, we outline three facts about market recoveries and three mistakes that investors should avoid. Three facts about market recoveries Fact #1: Recoveries have been much longer and stronger than downturns The good news is bear markets have been relatively short compared with recoveries. They can feel like they last forever when we’re in them but in reality, they are much less impactful compared to the long-term power of bull markets. Although every market decline is unique, in the US, the average bear market since 1950 has lasted 14 months. The average [...]

By |2020-06-10T14:10:02+10:00June 10th, 2020|Market News, Tips and Other News|0 Comments

GFC vs Coronavirus

GFC vs Coronavirus – The current pandemic is like nothing the world has ever seen before. This time last year we were in a very different place. Many people are now questioning whether we are heading into a period of economic crisis reminiscent of the days of the Global Financial Crisis (GFC).  Let’s compare this current Coronavirus crisis to the GFC of 2007/2008. Whilst it is still early days in the current crisis, there are similarities and differences we can make with the GFC.  We believe an investor’s response to these crises should be similar, with the adage “time in the market is more important than timing the market” remaining appropriate. This is illustrated in the following chart;   As you can see above, even if you had invested just prior to the start of the GFC in late 2007, in the following years you would have reaped the benefits of a strongly rising market, in both Australian and [...]

By |2020-04-08T14:59:09+10:00April 8th, 2020|Tips and Other News|0 Comments
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