174. Downsizer Contributions
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss downsizer contributions to superannuation, exploring how this strategy allows individuals aged 55 and over to contribute up to $300,000 from the sale of their home into their super, without affecting other contribution caps. We break down the eligibility rules, the financial benefits of moving assets into a tax-free super environment, and the broader economic implications, including its potential to free up housing stock. While originally framed as a way to encourage retirees to move into...
info_outline
173. Asset Protection Strategies
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss asset protection strategies, focusing on protecting those assets that you have worked so hard to accumulate.. We highlight the importance of separating personal and business assets, using structures like trusts and company ownership to limit liability. Superannuation is emphasized as a strong protection tool when contributed to properly, while investment bonds provide a middle-ground option. We also stress the value of insurance—life, disability, crisis, and income protection—to maintain...
info_outline
172. Frugal February
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we explore how intentional spending can lead to long-term financial benefits. We discuss setting clear savings goals, breaking them into achievable steps, and using accountability to stay on track. Strategies include delaying impulse purchases, optimizing grocery shopping, cooking at home, and enjoying free or low-cost entertainment. We also highlight the importance of auditing subscriptions and even taking on side hustles to boost income while reducing unnecessary spending. Ultimately, we encourage...
info_outline
171. Should I Pay Down Debt or Put Money into Super
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we address a listener's question about whether to focus on paying down debt or contributing to superannuation. We discuss key factors, such as the type of debt, tax benefits of superannuation, and personal risk tolerance, while emphasizing the importance of individual circumstances and long-term goals. Also, we explore strategies like balancing both options, the impact of interest rates, and leveraging equity for investments. Furthermore, we highlight the complexity of this decision and advocate seeking...
info_outline
170. Market Wrap
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! We are back again with our monthly ‘Market Wrap’ segment. In this episode, we take a deep dive into the latest market movements as we kick off 2025. We discuss the strong performance of the S&P 500, which saw a 2.24% rise in January, despite some pullback due to inflation concerns. We also explore the impact of Trump's return to office, analyzing how the market has largely anticipated his policies. A major highlight is Nvidia’s record-breaking $938 billion market cap loss following the emergence of a Chinese AI...
info_outline
169. Melbourne Property Expectations 2025
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we explore Melbourne's property market trends and expectations for 2025, highlighting its unique underperformance compared to other Australian cities in 2024. While cities like Brisbane and Adelaide saw significant growth, Melbourne experienced a decline. Attributed to factors such as land tax reforms, increased regulatory burdens, and diminished investor confidence. Despite these challenges, we discuss the potential for recovery, driven by Melbourne's growing affordability relative to other cities,...
info_outline
168. Save Tax Leading Up to Retirement
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss strategies for saving tax as you approach retirement, focusing on the Transition to Retirement (TTR) strategy. We explain how individuals can take advantage of tax arbitrage opportunities by utilizing superannuation rules. Key points include the use of two superannuation accounts—accumulation and pension—to optimize income and legally reduce tax obligations. We also explore how salary sacrificing into superannuation while drawing from a pension account can create significant tax...
info_outline
167. New Years Finance Solutions
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we kick off 2025 with a focus on financial planning for the new year. We discuss revisiting financial goals, reflecting on the past year's successes and challenges, and addressing any financial "hangovers" from the holiday season, such as credit card debt. Additionally, we emphasize the importance of reviewing budgets, managing subscriptions, shopping around for better deals on major expenses, and planning for both short-term and long-term goals. Furthermore, we encourage listeners to anticipate potential...
info_outline
166. First Home Saver Super Scheme
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss the First Home Saver Super Scheme (FHSSS), which helps first-time buyers save for a property deposit using superannuation. We highlight its tax benefits, such as contributions taxed at 15% instead of higher marginal rates, potentially saving individuals thousands annually compared to regular savings. However, we note the scheme’s complexity, with restrictions like annual and lifetime caps, making professional advice essential. While we commend its potential, we advocate for simpler rules and...
info_outline
165. Owning Assets in a Trust
360 Money Matters
Welcome back to another episode of the 360 Money Matters Podcast! In this episode, we discuss the complexities of owning assets in a trust and offer guidance on when it might be beneficial. We address a common question about whether to buy assets individually or through a trust, weighing the pros and cons of each approach. We emphasize that trusts can provide a layer of protection for assets, particularly for business owners concerned about creditors. However, we clarify that trusts are not "bulletproof," especially when it comes to family court proceedings in cases of relationship...
info_outlineWelcome back to another episode of the 360 Money Matter Podcast! One of the most common misconceptions in financial planning is the separation of the assets from cash flow. We often deal with the resistance of people when it comes to converting their assets into income.
While we understand the emotional attachment to the asset, especially when it comes to property, producing income to support your lifestyle is one of the most important things to enhance the quality of your life. We work with our clients to navigate these issues and make decisions that make them feel confident about their financial future.
By the end of this episode, we hope to have widened your horizons when it comes to your choices in dealing with the crisis of being asset rich and cash poor. Plan ahead with your financial advisers now!
--
This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
- What being asset rich and cash poor means
- Various options in converting assets into cash
- Different types of assets
- Why people resist selling properties
- The importance of advance planning for your assets
Connect with Billy and Andrew!
Check out our latest episode here: