BMG Financial Planning and Accounting Albury Wodonga

December 2020

Retirement report | Savings goals | Legislative update | Pursuits and pastimes | Mindfulness

In this month’s newsletter, we begin with an overview of the key findings from the Government’s recently released Retirement Income Review final report. The household saving ratio in Australia increased to 19.8% in the second quarter of 2020 from 6.0% in the first quarter of 2020—our animation illustrates the concept of SMART savings goals. Several important taxation and social security Bills recently passed through the parliamentary process—we summarise the main aspects of each of these. Many social pursuits and pastimes are often accepted at standard rates in a formal insurance application—we provide further information on these and others. Lastly, we leave you with an uplifting TED Talk by Dr Shauna Shapiro, on how mindfulness can help us make positive changes in our lives.

We wish you a happy and safe festive season and look forward to seeing you in 2021.

Retirement Income Review report: Key findings

Australia’s retirement income system consists of a three-pillar approach. In this article, we highlight the key findings from the Government’s recently released Retirement Income Review report.

Read More

SMART savings goals animation

For some of us, saving may be second nature or come easy due to circumstance, while for others, it may be more of a struggle. In this animation, we illustrate the concept of SMART savings goals.

Launch Video

Legislative update: Taxation & social security

The Parliament recently debated many important pieces of proposed legislation. In this article, we provide a summary of the main aspects of these now legislated taxation and social security Bills.

Read More

Underwriting guidelines: Pursuits & pastimes

Many, but not all, pursuits and pastimes are often accepted at standard rates in a formal insurance application. In this article, we provide information on these and other pursuits and pastimes.

Read More

Mindfulness: Positive changes in our lives

A mindful money practice requires you to pay full attention to your money on a moment-by-moment basis. In this TED Talk, Dr Shauna Shapiro discusses how mindfulness can help us make positive changes.

Launch Video