Welcome to the March issue of Financial Insights and Updates of 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 ‘Career Breaks – What you need to know before you go’ which covers some of the impacts to consider before deciding to take a sabbatical, and ‘Is Worker’s Compensation Enough?’ which highlights the need to consider insurance to cover instances where Worker’s Compensation will not (eg. non-work-related injuries).
As always, feel free to forward any articles to friends and/or family that you feel 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 to come 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 plethora of data showing women, on average, earn less than males and have lower superannuation balances.
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.
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 taking a break to rest and recharge.
But, before waving goodbye to your job, it’s important to consider how this decision will impact your finances.
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.
Avoid Passing Bad Money Habits On To Your Kids
Generally speaking, we Australians are pretty financially savvy, that is, we understand the how and why of effectively managing our money. Unfortunately, that doesn’t mean we’re actually putting that know-how into practise and making astute financial decisions.
As parents, we’re role models, integral to shaping our children’s values and beliefs. Like little sponges, they absorb our behavioural patterns, pick up on signals and mimic our actions.
Is Worker’s Compensation Enough?
No matter what kind of job you have, there is always a possibility of falling sick or getting injured, regardless of the type of work you do.
That’s why every Australian workplace has a health and safety obligation to provide a safe work premises, assess risk and have workers compensation insurance.
While worker’s compensation is beneficial, it may not provide enough financial support for you and your family, even if you have a successful claim.
