If you are a self-funded retiree there’s some good news, with the government legislating to increase the income thresholds for the popular CSHC. This new rule will allow an extra 44, 000 older Australians access to the relevant pharmaceutical and medical benefits discounts and other associated concessions that the card provides.
Inflation is a hotly discussed issue right now and you may be wondering what it really means and how it affects you. Australia is experiencing record levels of inflation because of knock-on effects from the COVID-19 pandemic, the war in Ukraine and strong consumer demand. With forecasters predicting it to peak at 7.75% in December 2022, it is important to understand how this will impact you.
It’s no secret that the cost of living is on the rise. If you are thinking of retiring, or have already done so, significant price increases in non-discretionary items such as food, fuel, gas, electricity, and healthcare will impact your retirement budget. Good financial planning advice can help you navigate this changing environment so that you can avoid too many nasty surprises.
As we know the markets have been volatile lately. Risk management is important in this environment.
Nat Webb is a Principal and Financial Planner in the Ipswich office. He speaks to Dan Miles, a Chief Investment Officer at Innova Asset Management about how to approach this environment including the importance of active portfolio management and communication with clients.
