Printer Friendly Version 1. Budget for spoil money and experience guilt-free spending.

2. Pay yourself first – make the first item from each pay a saving.

3. Choose to buy things that add to your income and not increase your expenses.

4. Beware of future income changes and do not grow accustomed to a lifestyle you cannot afford.

5. Bring your lunch to work – don’t buy it every day.

6. Go to movies on the cheap night.

7. Read the label when grocery shopping. Be smart and know what products are good buys.

8. Plan for the unexpected – create a savings account safety net.

9. Draw up monthly budgets not annual ones. Bring targets closer and make them achievable.

10. Set time aside to talk with you partner about budgeting in a goal-orientated way.

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Borrowing money is a fact of life for most people and whether it is a loan from a family member or a home mortgage, the principles of staying in control are the same. Here are 6 tips to keep you in control:

1. Consolidate multiple loans into one loan and aim for a lower borrowing cost. This will also create a focus on repaying the loan faster.

2. Don’t accept offers to increase your credit card limit without first working out whether you can afford more debt.

3. Think about increasing your repayments. This will drive down debt.

4. If you get a windfall, paying off your loan is usually a very competitive financial option.

5. Do a budget and understand your cash flow. You might find more effective ways of living the lifestyle you want and being successful repaying debt.

6. Keep it up. Once you have repaid your loan obtain advice on where to save your new found cash flow. Q Invest can provide advice in a service that matches your lifestyle.

Staying in control of your finances and discovering your financial potential is all about knowing where the money goes. The fundamental rule of “spend less than you earn” is the basis of personal financial success.

Visit our calculators to help you understand your debt.:
Budget planner
Pay off your loan faster

Links: www.understandingmoney.gov.au

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At any time, but particularly in times of negative investment return, a change in financial circumstances has resulted in more Centrelink benefits for some people.

The most convenient and effective way of discovering your entitlement is to visit a Q Invest financial adviser. The adviser will not only tell you what you are entitled to receive but also provide strategies to maximise the benefits. They will also provide a financial plan to keep your investments appropriate to your needs and cover off any other issues they discover.

Q Invest advisers believe that more Centrelink benefits you receive the less income required from your savings and that means a more secure lifestyle for you.

Government Benefits are “means tested”, meaning your eligibility is determined by any income you earn and the value of your assets. There are many rules that go with these items but it’s a good start to get an understanding of the basics.

Your measurable income may include:

• deemed income from financial assets
• gross income from earnings (i.e. earnings before tax)
• net income from businesses, including farms
• family trust distributions or dividends from private company shares
• income attributable to the controllers of a private trust or private company
• income from rental property
• income from a life interest
• income from boarders and lodgers
• superannuation and pensions from countries other than Australia
• income from income stream products, such as annuities and allocated products.

Your assessable assets may include:

• home contents, excluding fixtures like wall-to-wall carpet or wall heaters
• cars, boats and trailers
• rental properties, farms, second homes and holiday houses
• market value of investments
• some income stream products
• money in bank, building society or credit union accounts, term deposits, managed investments and shares
• loans you have made to other people, family trusts and companies
• value of your business
• an interest in a private trust or private company
• antiques or other collectables
• superannuation investments

The Government Benefits you may be entitled to access include:

• Pensioner Concession Card
• Telephone Allowance (including home internet)
• Rent Assistance
• Utilities Allowance
• Pharmaceutical Benefits Scheme medicines, hearing services and free eyesight test
• You may also receive a number of Queensland-specific concessions which may include reductions on public transport fares, free ambulance services etc.

Centrelink are constantly changing the rules on your pension entitlement. Your investments change on a daily basis. Don’t be the one to discover that you have not received the entitlement you could have. Visit your Q Invest adviser for a review today.

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Borrowing money is a fact of life in Australia and whether it is a loan from a family member or a home mortgage, the principles of staying in control are the same. Here are 6 tips to keep you in control:

1. Consolidate multiple loans into one loan and aim for a lower interest cost. This will also create a focus on repaying the loan faster.
2. Don’t accept offers to increase you credit card limit without first working out whether you can afford more debt.
3. Think about increasing your repayments. This will drive down debt.
4. If you get a windfall the benefits of paying off your loan is usually a very competitive financial option.
5. Do a budget and understand your cash flow. You might find more effective ways of getting things done.
6. Try making repayments more often. In this way you may be reducing the balance when interest is calculated and accelerating wealth.
7. Keep it up. Once you have repaid your loan obtain advice on where to save your new found cash flow. Q Invest can provide advice in a service that matches your lifestyle.

Staying in control of your finances and discovering your financial potential is all about knowing where the money goes. The fundamental rule of "spend less than you earn" is the basis of personal financial success.

We suggest that you visit our calculators to help:

• Budget calculator
• Refinancing debt
• Repay your debt faster

Links: www.understandingmoney.gov.au

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Did you know that for an average family, it can cost up to $310 a week to raise two children until they reach the age of 20, says a recent report by AMP and the National Centre for Social and Economic Modelling.

Some parents would say that children are the biggest investment of their lives. You need a financial plan to ensure that good health, opportunities and education are available for your kids. A large component of this expense is education.

One of the best ways to save for education funding is with regular contributions to a managed fund. We assist clients to develop a strategy for meeting future education costs that is tailored to when your children will require school fees to be paid.

Different cost at different times makes this task near impossible on your own. There are all stages to consider from prep school through to tertiary studies. We have specialist software and managed funds that have been designed to perform according to your unique requirements.

The act of planning out your education funding provides the confidence you may need to enrol your child in the school you really want them to attend. Reach your savings target

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Q Invest advisers can discuss with you the impact of nominating beneficiaries in your superannuation funds and the importance of having an effective estate plan. You should remember that when you add the effects of personal insurance payouts to your savings the value of your estate is likely to be significant. Taking the time to deal with your estate is well worth it.

Your Will does not deal with your superannuation. Unlike the assets dealt with in a Will, the trustees of the superannuation fund can decide to pay your savings to someone other than your nominated beneficiary. A trustee may make payment to any financial dependant of the deceased. Binding nominations impose a contractual obligation upon the trustees and create certainty around your superannuation benefit.

The process of getting your estate in order should start with a consultation with a financial adviser. Your financial adviser helps you to understand what happens to your assets and the taxation implications when you pass away. They evaluate the adequacy of your estate to satisfy your intention upon passing, and can use insurance policies to increase the size of the gift. The adviser can also recommend legal advisers and assist you to prepare for your meeting with them.

How do you prepare for your meeting with a legal adviser?

• Write down what you would like to gift and to whom. Gifting in equal shares is not easy when taxation can play a role in the real value and timing of the gift.
• Provide a simple explanation of the important people in your life, including those in past relationships whether or not they will be beneficiaries. You will be asked for their full names, dates of birth, their relationship to you and where they live.
• Bring a list of your assets and liabilities, including items of sentimental value that will be specifically mentioned in your Will - like jewellery.
• Consider whether you would like to nominate an executor and speak to those people in advance. The ideal executor has a sense of fairness, is prudent enough to take advice and assertive when it counts. The willingness to be directed on financial matters relating to your deceased estate is very important. Poorly informed decisions can cost the estate a lot in terms of money and stress.

A Will is a binding legal document and may not be suitable for all personal requests that may change from year to year. When it comes to gifting your personal valuables there may be items that you specifically want to give to certain beneficiaries. This can be done in a “wish list”. Whilst not legally enforceable it gives a clear guide to the executor and is commonly used to divide up the personal items of the estate, that otherwise can cause angst between family members.

Finally, a funeral is often the first expense of the deceased estate. You can arrange payment of your funeral during your life and in some cases you may receive a financial benefit in doing so. This is another way that a financial adviser can assist you to achieve the things most important to you.

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Take a moment to investigate the commonly used terms used by people who make smart decisions about money.

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Not sure whether you need advice? Simply click on the Life stage that you think best fits with you.

We have listed some strategies that can be considered under each Life stage. You are welcome to bring your list of strategies that interest you to your next appointment.

Your Q Invest Adviser can discuss these and other strategies to determine which are right for you.

Getting Started

Just left school and looking to get a good start? Saving for a deposit or a new car? Is staying in control of your first debt on your mind? More

Early years

You have a job and soon you will have a mortgage. New opportunities and challenges will present themselves. More

Wealth accumulation

The home loan is under control, the kids are more independent, and you can feel your financial independence coming back. More

Pre Retirement

You are over age 55 and contemplating retirement within the next 10 years. New options to create tax efficiency and boost your savings are available. More

Retirement

Wake up to a new life – the first day of retirement. If you have done your home work you will take this step with confidence. More

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Factors to consider
Before looking for a mortgage it’s important to ask yourself - what are your finance needs and what features will you really use? You don’t want to be paying for features that you don’t need. Home loans have many and varied features. You may find that you will be financially better off with a mortgage that does not have the lowest interest rate or no establishment fees; but has features that work with your lifestyle.

Work out the size of the deposit that you can afford. Where you are borrowing more than 80% of the value of the property you will commonly pay lenders mortgage insurance. This can cost several thousands of dollars. Be wary of where this insurance is not charged. It will be incurred by the lender and bundled into higher ongoing fees.

Features to look for
Flexibility is important where your circumstances could change during the term of the loan. Your ability to make additional repayments at no extra cost and using the internet, telephone or ATM’s to make payments can be valuable.

Logic tells us that whilst there are12 monthly payments in one year, you will pay more off your loan by making 26 fortnightly payments at half the monthly rate. You are one month ahead at the end of each year. Be wary of loans that reduce the fortnightly payment amount to equal the same annual repayment for 12 monthly payments and loans that extend the term for this feature. The aim is to have paid more than the 12 month repayment value, as well as gain the convenience of matching repayments with payslips.

Check to see you will have the ability to fix your interest rates in the future. Honeymoon rates are attractive in the first year of the mortgage but you may find that you are unable to fix your interest rate after the honeymoon period and therefore will be subject to a higher variable rate.

When you are considering borrowing for investment in the future you will need to have the facility to split loans to protect the tax benefits of deductibility of the interest on the investment portion. This could involve establishment fees in some cases, but for others the feature may already be in place.

Offset accounts and redraw facilities are important to provide the ability to repay debt faster. The best offset accounts are 100% offset of the interest being charged for every dollar in the account. Some accounts will offset less than 100% of interest cost per dollar deposited or only begin to offset the loan interest when the balance is above a certain value. Redraw allows you access to payments made over and above the payments you are required to make. They can be used like a safety net whilst reducing interest against the loan at the same time.

What about the Fees?
Banks and other institutions know that people will refinance their loans. For this reason, you need to explore the exit costs before you sign the loan agreement. You should ask for the total costs of the loan including the exit fees, discharge or settlement costs. No establishment fees and a low rate is not the whole story.

Remember, like buying a car, that the first fees mentioned by the lender are most likely not the best offer you can get and you are in a position to try to negotiate a better outcome. If you don’t ask you will never know.

Ask for a comparison rate
The advertised rate that has attracted you into the lenders office is not the rate you should use to compare the costs of the finance. It is possible that a lender may have a higher advertised rate but lower comparison rate than another lender. The comparison rates help consumers identify the true cost of a loan. It's the rate that includes both the interest rate and fees and charges relating to a loan, reduced to a single percentage figure.

Once you have worked out the structure of the loan, the features you require and have a comparison rate - you are ready to make a decision.

Broker or no Broker – Is that the question?
Selecting a mortgage provider remains a challenging task. A broker is employed to represent your interests in finding a suitable and competitive loan. Brokers are useful to get the structure right and are a convenient way to quickly canvass the options.

7 tips for selecting a broker:

1. Ask the broker what lenders they have on their books. Brokers vary from those with 2 or 3 providers to those who consult a base with 20 or more providers.

2. What fees do the brokers charge? Ask the broker to clearly identify the fees and charges you will be incurring by using their service. Some have no fees and receive a commission. Others will charge a one-off fee and may rebate or refund commissions.

3. Ask the broker how they compare loans to determine what is best for you. If they are unable to explain the method they use then beware – commission may play a role.

4. Before you contact a broker, check they're registered with the Australian Securities & Investments Commission.

5. Does the broker have professional indemnity insurance? Make sure they do.

6. Ask what privacy guidelines they follow when handling your information.

7. Ask what happens after the loan is approved.

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The 8th wonder of the world is the compounding effect of interest. This compounding effect is the foundation for long term financial success.

How does it work? Let’s say you have $10,000 to invest. Let’s call this your “capital”.

If in the first year you earn 7.5% on your capital, the total at the end of that year will be $10,750. If you keep the earnings and only invest the same $10,000 in the 2nd and subsequent years you will have $13,750 after 5 years. Not bad?

Instead of withdrawing the earnings from the first year you decide to reinvest it for the 2nd year. This is called compounding the interest. At the end of the second year you have $11,556. If you continue this process of reinvesting your interest capital and earnings every year, after 5 years you will have saved $14,356.

You will have earned interest on your interest and that is the wonder of compounding returns.

These mystical effects are enhanced with additional contributions to capital. Say you contribute $200 per month and reinvest your earnings each year. Your new total after 5 years is $21,772. Initially, your capital grows more from your contributions than its earnings. But as you go along your reinvested capital grows to a point where your earnings can exceed the contributions and your savings accelerate.

Now imagine you take this principle and apply it to a long period of saving – starting with $10,000 and contributing $200 per month and compound the earnings. After a 30 year working life you will have accumulated $316,596.

Smart money strategies often involve planning to make small contributions over a period of time. Contributions are made into investments that have low costs and are tax efficient. Saving for a home deposit or a new car is easy with magic of compounding interest.

Q Invest managed funds offer low cost with no entry fee and competitive management fees. You can make regular monthly contributions and draw the money out at anytime.

Consult the Reach your savings target calculator to see what you can save and visit the following link to learn more about the Q Invest managed funds. Investment Access Fund

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Many people have mobile phones but few take the time to check that they have the most cost-effective option. With so many options and mobile networks to choose from, here are some hints and tips to get the best deal for you.

Should I get a pre-paid phone or a post paid contract?
The features of pre-paid arrangements are:

• No bills. You purchase credit and recharge when you run out.
• You only pay for what you use when texting or making calls.
• Benefits apply across any phone on any network – perfect for ringing friends.
• You can use your old phone – although there are bundled prepaid deals that come with a new phone.
• Fantastic for controlling your spending or as a first phone where your usage habits are not known.
• Use it or lose it - your pre paid limit will expire after 30 or 60 days. You will have to renew your prepay limit to continue to use the phone and unused credit is lost.
• If your phone is lost or stolen, the prepaid limit is the extent of your loss – apart from the phone of course.

The features of post paid arrangements and mobile phone contracts are:

• They typically combine all charges onto a single bill.
• No drop rate – calls won’t drop out because you have run out of pre-paid credit..
• You can set for automatic payment of bills.
• Capped plans offer potentially lower costs for a minimum monthly commitment.
• Great for you and your friends or partner because many plans have free SMS and phone calls between users sharing the same network.
• If you have an ABN then extra features are available such as bundling monthly usage across users and combine multiple users on one account.
• Contracts usually come with a phone for no extra charge.

If you are after the latest model or more expensive phone, a contract can get it for you at a lower cost. Your phone shop can factor in the reducing value (known as depreciation) of the phone during the period of the contract and thereby obtain a better upfront price. The reduced cost of the phone is based upon your commitment to the term of the contract. If you terminate the contract you will most likely be required to pay a fee which relates to the unpaid cost of the phone.

If you're on a tight budget, consider buying a cheap phone with a prepaid bundle, then turn on its built-in call meter and use your phone normally for a month or two. If you keep good records -- you can save many hundreds of dollars down the track by going into the right contract for your needs.

Get to know your own mobile phone habits
Services are not all the same and are designed for different types of users. The best thing you can do is get to know your mobile phone habits. Ask yourself:

• Do you typically call more during the day, or does your heavy late-night calling mean you may benefit from lower off-peak rates at nights and on weekends?
• Do you use up the included call value more months than not? You may be better off considering a contract that in the long term will reward you with lower rates and more contractual flexibility.
• How your SMS habits rate? Heavy texters may find value in prepaid bundles that include a huge number of SMS messages.

Once you have worked out what it is you value in your mobile communication consider visiting at least two network providers to get a comparison of services, phones and contracts. Make sure that the network you are investigating covers the area that you will be using your mobile phone.

For more information about mobile phone options visit:www.acma.gov.au/WEB/STANDARD/1001/

Many people have mobile phones but few take the time to check that they have the most cost-effective option. With so many options and mobile networks to choose from, here are some hints and tips to get the best deal for you.

Should I get a pre-paid phone or a post paid contract?
The features of pre-paid arrangements are:

• No bills. You purchase credit and recharge when you run out.
• You only pay for what you use when texting or making calls.
• Benefits apply across any phone on any network – perfect for ringing friends.
• You can use your old phone – although there are bundled prepaid deals that come with a new phone.
• Fantastic for controlling your spending or as a first phone where your usage habits are not known.
• Use it or lose it - your pre paid limit will expire after 30 or 60 days. You will have to renew your prepay limit to continue to use the phone and unused credit is lost.
• If your phone is lost or stolen, the prepaid limit is the extent of your loss – apart from the phone of course.

The features of post paid arrangements and mobile phone contracts are:

• They typically combine all charges onto a single bill.
• No drop rate – calls won’t drop out because you have run out of pre-paid credit..
• You can set for automatic payment of bills.
• Capped plans offer potentially lower costs for a minimum monthly commitment.
• Great for you and your friends or partner because many plans have free SMS and phone calls between users sharing the same network.
• If you have an ABN then extra features are available such as bundling monthly usage across users and combine multiple users on one account.
• Contracts usually come with a phone for no extra charge.

If you are after the latest model or more expensive phone, a contract can get it for you at a lower cost. Your phone shop can factor in the reducing value (known as depreciation) of the phone during the period of the contract and thereby obtain a better upfront price. The reduced cost of the phone is based upon your commitment to the term of the contract. If you terminate the contract you will most likely be required to pay a fee which relates to the unpaid cost of the phone.

If you're on a tight budget, consider buying a cheap phone with a prepaid bundle, then turn on its built-in call meter and use your phone normally for a month or two. If you keep good records -- you can save many hundreds of dollars down the track by going into the right contract for your needs.

Get to know your own mobile phone habits
Services are not all the same and are designed for different types of users. The best thing you can do is get to know your mobile phone habits. Ask yourself:

• Do you typically call more during the day, or does your heavy late-night calling mean you may benefit from lower off-peak rates at nights and on weekends?
• Do you use up the included call value more months than not? You may be better off considering a contract that in the long term will reward you with lower rates and more contractual flexibility.
• How your SMS habits rate? Heavy texters may find value in prepaid bundles that include a huge number of SMS messages.

Once you have worked out what it is you value in your mobile communication consider visiting at least two network providers to get a comparison of services, phones and contracts. Make sure that the network you are investigating covers the area that you will be using your mobile phone.

For more information about mobile phone options visit:www.acma.gov.au/WEB/STANDARD/1001/

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The features of "Post paid" or "Contracts" are:

• They combines all charges onto a single bill
• No drop rate – calls won’t drop out due to an inadequate prepaid balance
• You can set for automatic payment of bills
• Capped plans offer potentially lower costs for a minimum monthly commitment
• Great for you and your partner because many plans have free SMS and phone calls between users sharing the same network.
• If you have an ABN then extra features are available such as bundling monthly usage across users and combine multiple users on one account.
• Usually come with a phone

The features of "Pre-paid" are:

• Being time limited the number of calls is not relevant. It is only the time you take that matters. So you can call as many times as you like.
• Benefits apply across any phone on any network – perfect for ringing friends.
• You can use your old phone – although there are bundled prepaid deals that come with a phone.
• Fantastic for controlling your spending or as a first phone where your usage habits are not known.
• Use it or lose it - your pre paid limit will expire after 30 or 60 days. You will have to renew your prepay limit to continue to use the phone and unused credit is lost.
• If your phone is lost or stolen, the prepaid limit is the extent of your loss – apart from the phone of course.

If you want a particularly cool or expensive phone, a contract can get it for you at a lower cost. Your phone shop can factor in the depreciation of your phone over the contract's life, and thereby obtain a better price for the phone based on your commitment to the contract.

The discounted cost of the phone is then spread across the length of the contract with no interest cost applied. If you terminate the contract you will most likely be required to pay a fee which relates to the unpaid cost of the phone.

If you're on a tight budget, consider buying a cheap phone and prepaid bundle, then turn on its built-in call meter and use your phone normally for a month or two. If you keep good records -- you can save many hundreds of dollars down the track by going into the right contract for your needs.

Services are not all the same and are designed for different types of users. The best thing you can do is get to know your mobile phone habits. Ask yourself:

• Do you typically call more during the day, or does your heavy late-night calling mean you may benefit from lower off-peak rates at nights and on weekends?
• Do you use up the included call value more months than not? If so, consider a more expensive plan, which will reward you in the long term with lower rates and more contractual flexibility.
• How your SMS habits rate? Heavy texters may find value in prepaid bundles that include a huge number of SMS messages, which aren't expensive individually but can really add up through heavy and regular use.

Once you have worked out what it is you value in your mobile communication consider visiting at least two network providers to get a comparison of services, phones and contracts. Make sure that the network you are investigating covers the area that you will be using your mobile phone.

For more information about mobile phone options visit www.acma.gov.au/WEB/STANDARD/1001/

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We have all geared before, but may not have realised it. Borrowing for the purchase of your family home is a form of gearing.

When you are gearing for investment purposes you are borrowing money to increase your exposure to assets that grow in value. Your aim is to sell these growth assets for enough money to pay back the principle you borrowed; make up for the cumulative cash flow loss incurred, cover the entry and exit costs and turn a profit commensurate with the risk you have undertaken.

Gearing can amplify gains and magnify your losses. The more you borrow the more you can gain or lose.

Servicing of a geared investment is a matter of cash flow.

• Positive gearing is where the earnings from an investment exceed the expenses. You will have money flowing into your pocket.
• Negative gearing is where the expenses of the investment exceed the earnings. You will have to pay the difference out of your pocket. The investment gain in value must make up that cost and opportunity lost just to break even.

Some people are attracted to gearing for the tax deduction associated with the interest costs and the tax advantage of the negative cash flow. A loss is still a loss. It is essential that the investment selection is consistent with the strategy and that the focus remains on growing wealth and not just tax advantage.

Gearing can be undertaken as a contribution strategy known as instalment gearing. A margin loan is drawn against existing cash or investments to create a broader exposure to investments. You can decide choose the level of borrowing known as the loan-to-value ratio(LVR). A contribution can be set up with a matching loan draw down to the specified LVR.

Some people use a home loan facility to draw equity for the purpose of getting exposure to investment opportunities. Advice on the correct loan structure is invaluable and must be obtained up front.

What approach is more appropriate will require consideration of you entire circumstances. Selection of the investments and the correct financing is crucial to the success of the strategy.

The higher your marginal tax rate, the greater the benefits of any tax deductions you may receive. But don't fall for the trick of investing in shares or any other asset simply because they promise good tax deductions through negative gearing.

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Superannuation contributions to this stage were something that the employer made. You could have contributed a bit more for a greater contribution from the employer, but it was never a core issue.

We find that where you use superannuation for its primary purpose of meeting your income needs in retirement and begin planning for this objective early in your working life then the result is effortless.

Targeting to reach core objectives must begin at this stage. Q Invest advisers use purpose-built software that make developing the best strategy simple to understand. This long term and small contribution approach avoids contribution cap issues and creates the opportunity for non-superannuation smart strategies such as gearing.

Experience effortless financing of your future

Rolling over your superannuation to your choice of fund will in most cases reduce cost and increase the focus on good returns. Your superannuation funds may have other benefits and the only way to know what fund is the most appropriate will be take advice on how your options compare.

Getting money into superannuation can be done without being slogged with income tax. This is called salary sacrifice and you will be sending part of your pay directly to your superannuation fund. You pay less tax and therefore save more.

Q Invest can provide advice to meet your financial needs from a service that suits your lifestyle and budget.

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Superannuation is a true long term investment vehicle. Making small contributions over a long time frame will avoid a situation where you are compromising your lifestyle in the last 5 years leading up to retirement to increase your superannuation balance.

Once you are established in your chosen occupation, you should put in place a 5-10 year strategy that will lay a foundation for wealth accumulation in superannuation. The money you contribute now will have the greatest impact on your future lifestyle as a result of the natural effects of time and compounding interest.

Small contributions to superannuation over a long time frame will have a reduced impact on your lifestyle, when compared to saving a lot in a small time frame before retirement. Getting to age 50 and finding that you are inadequately funded for retirement could mean you scrimp and save at a time when other people are beginning to work less and enjoy their planned retirement. Saving into superannuation is rewarded with government incentives that give you a head start.

Rolling over your superannuation to your choice of fund can have its advantages. You need help to make an informed decision that is in your best interest. Your superannuation funds may have benefits and costs that only research can bring to light. Whilst the strategy of consolidating superannuation does make sense, the benefits are found where independent comparisons of your options are made, after accessing good financial advice.

You can get money into superannuation without paying income tax. This is called salary sacrifice. You will be contributing a portion of your pay directly to your superannuation fund. You will pay less tax and therefore save more. In some cases this is achieved without a change in take home pay.

Q Invest can provide advice to meet your financial needs from a service that suits your lifestyle and budget.

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One of the most common questions entertained in the offices of Q Invest is how do I maximise my superannuation for retirement. For many people, knowing where they stand in relation to their lifestyle goal give is peace of mind. This peace of mind is dispensed daily at Q Invest by illustrating our clients’ financial position and projecting their ability to achieve the lifestyle they have chosen.

Superannuation is the main vehicle for providing tax effective funds for retirement income streams. Sources of contribution to superannuation include sacrifice of salary, lump sum contributions and rollovers from other superannuation funds.

Targeting to reach core retirement income objectives is one way of securing a stronger financial future. Q Invest advisers use purpose-built software that makes developing the best strategy simple to understand. This long term and small contribution approach avoids contribution cap issues and creates the opportunity for non-superannuation smart strategies such as gearing.

The contribution caps are limits to the amount of superannuation contribution that you can make and can change based upon your age and your working status. The penalties for exceeding these caps are severe. A well considered and managed contribution strategy can maximise the flow of funds to superannuation without triggering any of these penalties. Whereas used to be able to contribute any amount of money into superannuation at any time, that is not the case today. You need a plan.

Once retired, the reward is a tax free income known as an allocated pension. With this benefit at the end of the financial plan, the costs of receiving the advice are of no consequence.

Rolling over your superannuation to your choice of fund can have its advantages. You need help to make an informed decision that is in your best interest. Your superannuation funds may have benefits and costs that only research can bring to light. Whilst the strategy of consolidating superannuation does make sense, the benefits are found where independent comparisons of your options are made, after accessing good financial advice.

You can get money into superannuation without paying income tax. This is called salary sacrifice. You will be contributing a portion of your pay directly to your superannuation fund. You will pay less tax and therefore save more. In some cases this is achieved without a change in take home pay.

Q Invest can provide advice to meet your financial needs from a service that suits your lifestyle and budget.

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Transition to retirement pensions is available to people who have reached their preservation age and wish to access their superannuation as a pension income, but not as a lump sum.

Some people use this strategy to work less but maintain the same lifestyle. Your employment income drops and the difference is made up from the transition to retirement pension. This means that you can benefit from getting a taste of retirement lifestyle before you make the decision to finish work forever. After implementing this strategy, some people have continued to work because they have enjoyed the work-life balance. Seeing your work friends and keeping alert with work challenges can give additional meaning to this lifestyle choice.

Transition to retirement pensions also supports people who undertake salary sacrifice to superannuation and are chasing a lower rate of taxation than their marginal income tax rate. This does not mean that you change your hours at work. The transition to retirement pension compensates for the drop in spending money as a result of a decision to salary sacrifice below your lifestyle budget. The result is that more money is flowing into superannuation than is spent through the pension. The difference is attributed to the tax savings. Why pay tax when you have the option not to?

The value of the pension is a maximum of 10% of the balance of the fund per annum until you retire. When you stop work the transition pension becomes a normal allocated pension and the 10% limit is removed. You can also withdraw lump sums from an allocated pension.

Under age 60 the pension is taxable but brings with it a 15% rebate and in some cases a deduction. For people over age 60 the pension income is tax-free. It follows that as a source of income it is a tax efficient option.

However, there are risks to consider before accessing superannuation through a transition pension. In some cases the reward does not outweigh the risks. Q Invest are considered expert in retirement planning and will assess the effectiveness of all your options to achieve your lifestyle objectives.

The trigger to exploring your options with transition to retirement pensions is reaching your age 55. Take no chances – get advice from Q Invest.

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Many people consider their home, car or boat to be their most valuable asset, but none of these can be maintained without earning an income. What would life be like without your income? How would you cope financially if you were seriously ill or injured?

For most Australians, the ability to work is your most valuable asset because it directly impacts your lifestyle. Your ability to earn income enables you to live a comfortable life - to pay the rent or meet mortgage commitments, to raise and educate children in a way that gives them the best possible start in life and generally to pay for the things that make life worth living. These things are important and should be protected. It is important to be well informed of your options and be cost effective in removing the risk of unexpectedly losing the ability to earn income.

Income protection insurance replaces up to 75% of your employment income when you are unable to work because of an injury or illness and can vary greatly in coverage and cost. In the event of a claim you receive monthly payments. This form of cover can be paid via a monthly premium payment and is wholly tax deductible.

Each income protection policy has a waiting period. This is a period of time after the injury or illness occurs where you do not get paid a benefit - effectively, an excess period. Waiting periods range from14 days to 2 years with the premium cost reducing with a longer time frame.

There is also a benefit period. This is the maximum period for which the monthly claim payments are made. Q Invest generally recommends policies that provide for payments to be made until you reach age 65. Many people don't realise that they hold policies which only pay for a limited period of time (eg 2 years).

When you seek advice from Q Invest we will recommend an appropriate waiting period and benefit period, taking into account your overall commitments and personal situation. We undertake extensive research into the insurance products we recommend to ensure that the policy is priced competitively and is a good quality contract where a legitimate claim will be honoured. In addition to establishing the policy for you we also help when you need to claim to ensure that the experience is a positive one.

Employing the services of a Q Invest adviser reduces risk, saves money and ensures that the things most important to you are retained even when personal injury or illness occurs. Q Invest strongly believes in the protection of your income, assets and dreams and will rebate commissions. This reduces the insurance premium by as much as 30% and this represents a significant long term cost saving for Q Invest clients.

To protect your lifestyle and the people that mean the most to you there may also be other forms of insurance that are needed, most commonly:

• Life insurance – payment made in the event that you die
• Total and permanent disability – payment when you are unable to work as a result of a permanent disability
• Trauma – payment made when diagnosed with a critical illness.

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