Greene Financial

Is Your Super Healthy?

Did you know that millions of Australians hold multiple super accounts? This can lead to unnecessary fees and complexity.

Simplify your financial life and potentially boost your retirement savings by consolidating your super.

Get in touch to learn how or subscribe to our newsletter to get the latest tips.

What is an Estate Plan?

An estate plan is a crucial document that outlines your wishes for your assets, guardianship, and healthcare decisions after your passing.

Key Components:

1. Will: Specifies how your assets will be distributed.

2. Enduring Power of Attorney: Appoints someone to manage your financial affairs if you become incapacitated.

3. Advance Health Directive: Outlines your healthcare preferences.

4. Death Benefit Nomination: Determines how your superannuation benefits will be distributed.

Don't leave your loved ones guessing. Create your estate plan today and ensure your wishes are carried out.

Your reminder to get a will.

Have you put off writing your will? Do you even know where to start? It's easier than you think.

A will ensures your wishes are carried out and your loved ones are taken care of.

Key benefits:

Control your legacy
Avoid family disputes
Ensure your loved ones are protected

Let's talk estate planning. We have great resources and can introduce you to a fabulous estate planner.

DM us for me details or tag someone to give them a nudge.

Are you juggling multiple super funds? 🤔 You could be losing out.

Swipe to uncover the hidden costs and learn how consolidating your super can boost your retirement savings.

Thank you, Erwin! Your kind words mean a lot. It’s incredibly rewarding to help clients like you achieve financial clarity and confidence. I look forward helping you navigate your financial future.

-Sam

To rent or to buy? Is renting the new Australian dream?

Our latest newsletter breaks down the pros and cons of both, opening your mind to new possibilities, and settles the ‘Great Australian Debate’.

Read the full story: https://greenefinancial.com.au/blog/buying-vs-renting/

Stay ahead of the curve. Subscribe to our newsletter for the latest advice and financial tips delivered straight to your inbox.

https://greenefinancial.com.au/newsletter-sign-up/

Ever wonder why so many people have insurance?

It's not just a precaution – it's a financial safety net that protects your financial well-being and loved ones. Unexpected events happen, and insurance can help you avoid a major setback.

We can guide you in making informed choices about your insurance needs, ensuring you have the right coverage to safeguard your income, assets, and provide peace of mind for your family.

Want to take your tax minimisation to the next level?

Swipe to discover how to supercharge your super.

Tip: When considering super contributions, it is best to consult a financial advisor about a personalised approach.

How a financial adviser can help:
● Simplify your end of financial year preparations.
● Recommend strategies to help you minimise tax and maximise your super.
● Create a financial plan and work with you to meet your financial and lifestyle goals.

Disclaimer: The information contained in this post is general information only. It is not intended to be a recommendation, offer, advice or invitation to purchase, sell or otherwise deal in securities or other investments. Before making any decision in respect to a financial product, you should seek advice from an appropriately qualified professional.

This is a question I get asked often.

The short answer is no. You’re paying the amount of tax set within your income bracket.

So, Sam, how do I reduce my tax?

The only way to pay less tax as an employee is to “earn less”.

Option 1: You earn less of a salary (take a pay cut).

Option 2: You lodge a tax return that states you “earn less” through the use of tax minimising strategies.

New Financial Year opportunities to take advantage of.

Superannuation:

As of July 1st, 2024, the Super Guarantee Rate increased from 11% to 11.5%. This seemingly small change can add thousands of dollars to your retirement nest egg over time. The SG rate is set to rise further, reaching 12% by July 2025.

Tax Cuts:

There's more good news! The government's revised Stage 3 Tax Cuts also came into effect on July 1st, 2024. Compared to the original plan, these changes benefit low and middle-income earners by lowering the tax withheld from their paychecks. This means many will see more money in pocket each week.

Now's the perfect time to connect with your financial advisor and discuss how to take advantage of these changes and get closer to your dream goals.

Resources:
https://www.australiansuper.com/superannuation/superannuation-articles/2022/05/sg-increase

https://www.etax.com.au/stage-3-tax-cuts-explained/
https://taxcuts.gov.au/

It’s officially tax time. And we’ve realised something…

Identifying the right tax strategies can often be placed in the ‘too-hard’ basket. But, with a little know-how and preparation, this year can be different.

Here are 9 tax strategies to consider ahead of your 2024 tax return.

Make sure to save this post for later to explore with your tax agent.

Disclaimer: The information contained in this post
is general information only. It is not intended to
be a recommendation, offer, advice or invitation
to purchase, sell or otherwise deal in securities or
other investments. Before making any decision in
respect to a financial product, you should seek
advice from an appropriately qualified
professional. We believe that the information
contained in this post is accurate. However, we
are not specifically licensed to provide tax or legal
advice and any information that may relate to you
should be confirmed with your tax or legal adviser.

Unlocking healthcare benefits for you and your loved ones:
The Commonwealth Seniors Health Card (CSHC).

While many of us may not be eligible for the card ourselves, it's crucial to understand its significance for our parents or elderly relatives.

Swipe to help a loved reduce healthcare services fees.

A Commonwealth Seniors Health Card can:

✔️Significantly ease the financial burden of healthcare expenses
✔️Ensures retired Australians have access to essential medical services without worrying about excessive costs
✔️Increases overall well-being and quality of life

If you have any questions or need assistance with the application process for the Commonwealth Seniors Health Card, please don't hesitate to reach out to us.

www.greenefinancial.com.au
+61 409 948 600

New around here? Hi, I'm Sam. I'm not your average financial expert. I'm a sports enthusiast, dog lover, women’s football coach, and a seasoned financial advisor.

But most importantly, as the Director and Financial Advisor of Greene Financial, I'm your partner in creating financial goals that are as fun and exciting as your life.
⁠
I have spent the last decade assisting 100s of individuals in achieving their financial dreams, ever since I moved to Melbourne in 2009 from the beachside town of Warrnambool to study a Bachelor of Accounting and Finance.

Today, my greatest value lies in connecting with clients and sharing my financial knowledge to help them better align their money with their life.

If you’re new, welcome. I’ve got many resources to help you navigate your financial journey and grow your financial know-how. ⁠
⁠
When you’re ready, I can help you with:⁠
⁠
Retirement Planning
⁠Superannuation
⁠Strategic Advice
Lifestyle Modelling
⁠Investing
Insurance
Debt management
1:1 Coaching
Tax strategies
Estate Planning

So now you know a little about me, the next move is YOURS. ⁠Head to the link in my bio and book a free 20-minute meeting.
⁠
SO happy to have you here.

Thank you for sharing forward your experience Loretta, it’s been a pleasure to help you redefine your retirement goals and understand what is possible.

Student Loan Changes: ⚖️ About 3 million Australians with student loans are set to receive an average $1,200 reduction in their HELP or HECS debt. HELP/HECS debt will now be indexed either to wages growth or to inflation, whichever is lower, and that change will be backdated to June 1 last year.

We love the magic of compound interest!

Imagine putting away $50 every fortnight for the next 30 years. With an average return of 8% you could save $216,134 (that's $172,134 in compounding interest).

Want to explore investing further but don’t know where to start? Let’s have a chat on whether it’s the right strategy for you and how you could get started.

Book a 15-minute discovery call via the link in my bio.

Tool used: https://moneysmart.gov.au/budgeting/compound-interest-calculator

Last Call To Utilise Your Remaining Super Contributions for 2018-19FY.

If you have a super balance below $500,000 as at June 30, 2023, you are eligible to consider utilising unused concessional contribution caps for the past 5 financial years. This means, for the 2018-19 financial year, it is your last opportunity to utilise these contributions.

Head to our bio to learn the strategies.

Interested in signing up to our newsletter? Head to the link in our bio or go to:

https://greenefinancial.com.au/

We release our newsletter on the 1st Monday of each month.

Lifestyle Modelling

We assist you in aligning your current priorities and circumstances with your financial future. Our modelling tools facilitate your decision-making process, enabling you to work towards your goals. This modelling also offers valuable context when making trade-off decisions related to your goals and strategies.

Spend more time enjoying life's important moments.

Teach your kids about taxes.

Next time you head to the grocery store, and your child asks for a treat, take 10% of it for yourself and classify it as "taxes”.

Let’s hope they don’t determine some tax effective strategies.

An overview of the 2024/25 Federal Budget, presented last night by Treasurer Jim Chalmers, is now available to our newsletter subscribers. This summary details how the budget might directly affect you.

• Never miss a beat •

Get our newsletter straight to you inbox by signing up here:

https://greenefinancial.com.au/newsletter-sign-up/

Are your finances keeping you up at night? You're not alone.

A financial plan can help reduce stress and give you a roadmap to reach your financial goals.

Did you know, studies show using a financial planner can improve family life and mental health for many people?

Let's chat and see how we can help you create the future you deserve.

There are only 8 weeks to go before the end of the financial year. Preparation is key to getting the most out of tax time.

This month we pass forward a handy little PDF that shares tax & super strategies to help you maximise your return.

Head to our bio to learn the strategies.

Interested in signing up to our newsletter? Head to the link in our bio or go to:

https://greenefinancial.com.au/

We release our newsletter on the 1st Monday of each month.

Reviews are what keep us going.
Thanks Sally, it’s been a pleasure to help you on your financial journey.

Understanding super is key to looking after your future self.

Let’s dive in and show you how you can review super, from any age.

Step 1: Review how your current balance compares to the average balance.
https://moneysmart.gov.au/glossary/asfa-retirement-standard

Step 2:
Use the free retirement planner calculator to determine your forecasted future retirement income and super balance.
https://moneysmart.gov.au/retirement-income/retirement-planner

In our example, we’ve used the average super balance of a 44-year-old female with no further career gap on an income of $130k.

Once you’ve entered your own data, a results graph will appear where you can see your forecasted projections.

Step 3: Use the ASFA table to see how much the average person/couple spends in retirement on a comfortable and moderate income.
https://www.bt.com.au/personal/your-finances/retirement/how-much-super-at-my-age.html

Step 4: Benchmark where you’d like to be, based on your potential lifestyle needs.

ASFA estimates that a modest lifestyle, which covers the basics, is mostly met by the Age Pension. They estimate the lump sum needed to support a modest lifestyle for a single or a couple is $100,000.

ASFA estimates that the lump sum needed at retirement to support a comfortable lifestyle is $690,000 for a couple and $595,000 for a single person.

Are you on track with your superannuation?

If you’d like to explore growth strategies, let's chat.

Everyone’s future looks different. We take the time to understand your values, discover your financial goals, and set in place plans to achieve them.