What does the Federal Budget mean for me? Treasurer Jim Chalmers has high hopes that his 2024 Federal Budget will rein in inflation earlier than expected, ease cost-of-living pressures and build a stronger economy in the future. It’s a Budget for the here and now, he says, but also for the decades to come. More than $8.4 billion has been allocated to quick-fix cost-of-living adjustments along with the previously announced Stage 3 tax cuts and the waiving of $3 billion in student debt...

As our superannuation balances grow larger, it makes more sense than ever to keep track of the many rules changes that have recently happened or are coming up soon. Australians are investing more in super - almost $151 billion dollars in the year ending March 2023, an increase of 11.3 per cent.i Those extra contributions, plus the rebound in the financial markets, have resulted in super assets of around $3.5 trillion.ii And it is being put to good use. We took out lump sum payments totalli...

How do interest rates affect your investments? Interest rates are an important financial lever for world economies. They affect the cost of borrowing and the return on savings, and it makes them an integral part of the return on many investments. It can also affect the value of the currency, which has a further trickle-down effect on other investments. So, when rates are low they can influence more business investment because it is cheaper to borrow. When rates are high or rising, economic ...

Retirement is a phase of life most of us look forward to. It’s a chance to pursue other interests, travel and maybe do some part-time work or volunteering. Thanks to more than 30 years of compulsory superannuation, we are also retiring with more savings than previous generations and have higher expectations of the lifestyle we wish to enjoy. But that also brings its challenges. According to the government’s Retirement Income Review, the average age of retirement in Australia is ...

Mortgage vs Super With interest rates on the rise and investment returns increasingly volatile, Australians with cash to spare may be wondering how to make the most of it. If you have a mortgage, should you make extra repayments or would you be better off in the long run boosting your super?

The answer is, it depends. Your personal circumstances, interest rates, tax and the investment outlook all need to be taken into consideration. What to consider Some of the things you need to weigh up ...