Personal Insurance

Premium waivers available for those affected by fires

by DFS Ipswich on January 7, 2020 No comments

The recent fires throughout the country have been incredibly devastating, and our hearts go out to all of those who have been affected. Fire, emergency, and local community support services are doing a phenomenal job in incredibly tough conditions.

A number of lives have been lost, property damage is estimated to be in the billions and significant loss of wildlife have been reported. We’d like to offer our support and assistance however we can to those that have been affected.

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DFS IpswichPremium waivers available for those affected by fires

Homing in on your retirement wealth

by DFS Ipswich on November 19, 2018 No comments

The ‘great Australian dream’ of home ownership is fairly widely accepted these days. It’s seen as natural to want to own your own home – or more specifically, a stand-alone home on a quarter acre block. But when you ask people why they want to own a home, it gets a bit more complicated. Things like security to raise a family, the ability to renovate and decorate, and the freedom to own pets are often cited. But those objectives shift when you’re heading towards retirement. That’s why it’s important to think about the role that homeownership plays in your overall retirement plan.

From the time you buy your home, to the life of your mortgage and beyond, the way you deal with your home as an asset can have a big impact on your quality of life once you’ve retired.

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DFS IpswichHoming in on your retirement wealth

Covered at every age

by DFS Ipswich on November 13, 2018 No comments

Life insurance is something that too many people set and forget. Or worse, don’t look at until they’re older. Some people think that the life insurance within their superannuation will be enough, when in fact it’s usually a bare minimum of cover that needs topping up. The truth is that, from the time you have your first proper job to the end of your life, you’ve got life insurance needs – and they change just as often as your lifestyle and personal proclivities.

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DFS IpswichCovered at every age

Seven ways to invest in your future

by DFS Ipswich on October 9, 2018 No comments

One fact of life is certain, we don’t stay young forever. As we grow older, everyday tasks can become tiresome; we suffer inevitable aches and pains and often have difficulty remembering things. But the ageing process should be seen as a privilege. We have retirement to look forward to, access to good health care and the opportunity to spend more time with the people we love. To ensure we’re able to enjoy a long and happy retirement, it’s important to plan for this future.

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DFS IpswichSeven ways to invest in your future

What determines the cost of an insurance policy?

by DFS Ipswich on September 18, 2018 No comments

There are a number of factors that determine the cost of an insurance policy. A cheap life insurance or income protection insurance policy doesn’t necessarily mean it’s an inferior one, and by the same token, the most expensive policy may not be the best to suit your needs.

The price of an insurance policy is generally a reflection of how the underwriter views the risk of you claiming on that policy. As each insurer will attribute their own measure of risk to each element of your lifestyle, personal habits and work situation, your overall risk profile can fluctuate between one insurer and another.

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DFS IpswichWhat determines the cost of an insurance policy?

Is it time to look beyond superannuation? Here’s why it makes sense to do so.

by DFS Ipswich on September 11, 2018 No comments

With the introduction of the $1.6 million transfer balance cap and related restrictions around contributions and the retention of death benefits inside superannuation, the question of whether you should also be looking to build wealth outside of super is becoming more widely-asked.

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DFS IpswichIs it time to look beyond superannuation? Here’s why it makes sense to do so.

Spring cleaning your finances

by DFS Ipswich on September 4, 2018 No comments

The sun is shining, the days are getting longer, flowers are blooming, the department stores are bringing in their Christmas stuff… yes, spring is finally here. Everyone knows that spring is the season of fresh starts. Most people will take the opportunity to do a bit of spring cleaning, getting to all those pesky once-or-twice-a-year jobs around the house. But right now is also a great time of year to review your finances. 

Why now? Well, with the end of the last financial year and your tax return well behind you, you’ve got some great data to help you reset your goals and measure your progress by. You’ve also got a little breathing room before the end of the calendar year so hopefully you’ll be a little less pressed for time when you’re making some important decisions. It’ll also give you enough time to sustainably budget for bigger expenses in the new calendar year, from home improvements to holidays. Here’s how to get started.

Clear out the cobwebs

Take a minute to sit down and review your budget. Make sure you have all the relevant information from your bank statements, tax notice of assessment, budgeting app, etc. In the last twelve months, have you stuck to your spending and saving guidelines? If not, what patterns can you see that you’ll want to ‘clear out’ of your spending habits for the coming year? This is your chance to develop a plan for avoiding wasteful spending. For example, if you notice that you’ve spent a lot on takeaway meal delivery, perhaps you could try planning a week of meals or signing up for that cooking class you’ve always wanted to take.

Fix that safety net

Just like you fix all those broken hinges, cracked tiles and split frames around the house come spring, now’s a great time to fix your financial safety net – your insurance. The fact is, the various risks and liabilities in your life change all the time. Sometimes it’s a little more obvious, like welcoming a new baby, or moving house. But some of the risks you can insure against shift a little more subtly. For example, you may have made a few purchases that you should have included in your contents insurance, but didn’t add them individually at the time.

Plant seeds for the future

Herbs, fruits, veggies, flowers – all the best stuff is planted in spring for harvesting weeks or months down the track! While you’re in the ‘planning ahead’ mindset, have a think about your retirement income too. Chances are that by now, you’ll have received a statement from your super fund with the details of your contributions, returns, fees paid and more. Take this opportunity to review whether your super is on track according to your long term goals. Use the budget info you gathered earlier to see whether there’s room for you to make some extra contributions on a regular basis. If you do find that you’re on track, think about other ways to put your money to work for your financial future. For example, you may consider a type of investment that’s now right for your changed circumstances.

Reset and revamp

Working out whether you’re on track with your budget and goals is a great start. But when was the last time you thought about what those goals should look like? Everyone’s circumstances, desires and priorities change. It’s normal to not have the exact same financial goals from one year to the next. That’s why it’s a good idea to review your previous benchmarks, even if you don’t end up changing what you’re aiming for. Carve some time out of your schedule, sit down with your partner/family, and have a chat about your ideas of financial success or independence. Better still, make an appointment to come in and see us. We’ll help you get the fresh perspective you need for the coming year and beyond.

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DFS IpswichSpring cleaning your finances

Decluttering your lifestyle

by DFS Ipswich on August 6, 2018 No comments

At what point does the amount of ‘stuff’ we have in our lives start becoming problematic?

Spending the entire day organising his garage instead of playing in the backyard with his son was the catalyst for Joshua Becker to declutter. Now the founder of the Becoming Minimalist website and author of several books on decluttering, Becker realised he wanted to spend more time with his kids instead of maintaining his many possessions.

You don’t need to be a parent to relate to this scenario. Many of us are time poor and are looking for ways to fit more into our days. If some of your day is being spent searching for your keys in a cluttered house or working around the clock to pay for those big purchases, decluttering can give you back both time and money. Clearing out your life can result in a cleared out headspace as well, giving you more mental energy for your career and relationships.

Decluttering, the act of paring back and reducing unnecessary things from your life, has become increasingly popular. The drawbacks of owning and pushing for more are becoming apparent. Even IKEA’s Head of Sustainability, Steve Howard, was quoted as saying, “In the west, we have probably hit peak stuff.”i Reducing your consumption and streamlining your life can create space and time for the things that really matter to you. Your hard-earned money can be spent on what you value, rather than what’s being marketed to you as a ‘must-have’ item.

Review your posessions

While having a decluttered home and life will give you back time, it does take time to achieve it in the first place. Set aside a weekend to begin to tackle the clutter in your home. Even if your home isn’t packed to the rafters with possessions, it’s likely you’ve been holding onto things you no longer need. If this task feels overwhelming, the best way to approach the job is one room at a time or even start with tackling a particular space like a cupboard or a specific type of item.

Ask yourself the following questions when you review your possessions, “When did I last use this?”, “When will I use it again?”, “Is this item useful?” “Does it make me happy?” Categorise items into piles, a pile for items to be thrown out or recycled, one for those that can be donated or sold and you can even have a pile for the items that you don’t quite know what to do with (not too many of these though!).

These items didn’t arrive in your home by accident, so take a look at your spending habits. Do you buy the latest gadgets? Are you a big clothes shopper? Do you purchase a lot of gifts for your loved ones? Being conscious of what you’ve been purchasing and what your triggers are will help you hone in on potential areas to cut back on. And now that your home has been organised, you’ll have a much better awareness of what you already have and what you don’t need more of.

Consider your commitments

Once the clutter in your home has been addressed, take a look through your calendar. Is it packed with appointments, social engagements, driving the kids around? Consider what commitments you can let go of and delegate. Once your schedule has been freed up, it can be tempting to utilise the spare time you’ve just created to fit other things in. Be mindful that you don’t fill it up again out of habit. We all need some downtime to recalibrate and relax. This might mean saying no to more things, which can be difficult if you’re a people pleaser, but it’s important to protect your time.

Decluttering does involve an initial commitment in time and effort, however it’s a worthwhile activity that will pay off in the long-run. The popularity of decluttering is due to the positive impact it can have on your life. It can provide a greater sense of contentment and calm amid our increasingly chaotic and busy lives, as well as saving money and time.

https://www.theguardian.com/business/2016/jan/18/weve-hit-peak-home-furnishings-says-ikea-boss-consumerism

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DFS IpswichDecluttering your lifestyle