Income Streams
Get prepared for June 30
Tax time is just around the corner, so now is the time to get ahead and find out what strategies may be available to you before 30 June. Time for a portfolio review A good first step is to review your investment strategy. With recent market volatility, things may have shifted and your risk tolerance…
Strategies for an unexpected retirement
The best time to start planning for retirement is yesterday. But the second-best time? Today. About two-thirds of Australians retire earlier than they anticipated because of unexpected events such as job loss or redundancy, they need to care for a family member, have a sudden illness or injury, problems at work or a partner’s decision…
Smart moves before the financial year ends
The end of the financial year is an opportunity to optimise your financial strategy, take advantage of tax deductions, and set yourself up for the new financial year. Whether you’re looking to maximise tax benefits, rebalance your investment portfolio, or to simply ensure you’re ticking all the right boxes, smart end of financial year (EOFY)…
LP Financial Planning: Proudly Leading the Way in Aged Care Advice
We are thrilled to share some exciting news with you! One of our founding directors, Brad Monk, was invited to participate in a national webinar hosted by Challenger Limited, a leading company in retirement and aged care income solutions. The webinar, titled “1st July 2025 Aged Care Advice Opportunities,” was a significant event with over…
How do retirement income options compare?
Retirement is filled with opportunities and choices. There’s the time to travel more, work on long-delayed personal projects or volunteer your help to worthwhile causes. You also have a host of choices to make when it comes to funding your new life away from paid work. Here are four different options to consider.i Account-Based Pension…
How COVID-19 changes tax time
As this financial year draws to a close, it will be viewed as a year like no other. COVID-19 (coronavirus) has impacted everybody’s life, albeit in different ways for different people. For some, staying at home has meant greater savings. For others, the virus has meant lower wages or even the prospect of unemployment for…
Simpler means-testing forms
Simplification in aged care rules is always a positive outcome. The government has just released new means-test forms for clients accessing residential or home care services which may make the process much quicker and simpler. The new forms are the outcome of a government taskforce which included a number of organisations, including Jacqui Hayes from…
Where is the best place to stash your cash?
If, like many Australians, you’re looking for ways to put some cash away for a rainy day, a holiday or to earn extra income, the job has just become a bit harder. It’s also become more urgent if you are expecting a handy tax return. In early July, the Reserve Bank cut rates to 1 per…
Make the most of your Retirement Income
Adjusting to a reduced income in retirement can be challenging. But luckily, there are a wide range of support options available, plus all sorts of discounts and benefits, to give Australian retirees a financial helping hand. Entering retirement means freedom from the pressures of work, but it can also mean getting used to a tighter income. So make sure…
Comparing Allocated Pensions against Annuities
Generating and maintaining a long-term income is an important aspect of retirement. Commonly, most retirees find themselves deciding between the two board types of income streams: account-based pensions (formerly known as allocated pensions) and annuities. An account-based pension is an income paid to you from your superannuation fund. In recent years account-based pensions have been…