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Benchmark Financial Services

6 days 10 hours ago

BE WARY OF SMSF PROPERTY SPRUIKERS

In a recent report, ASIC has raised particular concerns about people being encouraged to set up an SMSF (Self Managed Super Fund) with the narrow purpose of investing in property.

"The strategy of gearing through an SMSF to invest in property, which is being actively promoted by 'property one-stop shops', is high risk," the report said.
"Our results suggest that, in many cases, this is likely to result in financial detriment to SMSF members".

These one-stop shops typically involve real estate agents, developers, mortgage brokers and accountants.

We believe that there is nothing wrong with property investment, however it should be part of wider, well-considered strategy involving diversification (multiple asset classes) to spread risk.
Generally it would not be appropriate to have one asset (such as a property) making up the entire value of a Super Fund.

Benchmark Financial Services

1 week 5 days ago

CONTRIBUTING HOME SALE PROCEEDS TO SUPER

From 1 July 2018, those aged 65 or over may be able to use the proceeds from the sale of their home, to make a downsizer contribution of up to $300,000 each into superannuation (subject to complying with some finer details).
In our animation (link below), we take an in-depth look into the Downsizing Measure.

Benchmark Financial Services

2 weeks 6 days ago

WHAT IS BLOCKCHAIN?

We have discussed cryptocurrencies before and how they are made possible through a system/process known as 'blockchain'. Below (click for the full view) is a great infographic (courtesy of global money manager, Franklin Templeton) which describes the blockchain system.
In simple terms, blockchain is a decentralised distributed ledger that records transactions in a secure manner.

Benchmark Financial Services

3 weeks 4 days ago

FRIDAY FAST FACT

General Electric is set to lose its place as the last-standing member of the 1896 Dow Jones industrial average. When the index was started in 1896, GE, just a four year old company, was one of the original members. For more than a century, it has consistently held a place in the Dow as one of America’s industrial titans. S&P Dow Jones Indices announced Tuesday that drug retailer Walgreens Boots Alliance would take the industrial conglomerate's place on June 26, to make the index more representative of the economy in 2018.
Also, GE's stock had plunged by nearly 80% from its 2000 highs, and it accounted for less than 1% of the Dow's weight.

Benchmark Financial Services

3 weeks 6 days ago

SAVE FOR YOUR FIRST HOME THROUGH SUPER

High property prices have made owning a home unattainable for many prospective first‑time buyers. But the First Home Super Saver scheme, passed by the Australian Government in December 2017, may help keep the dream of buying your first home alive.

The scheme helps you save for your first home by allowing you to use the concessionally taxed superannuation environment to build a house deposit. Eligible voluntary contributions are limited to $15,000 in any one financial year and $30,000 across all financial years.
You can withdraw eligible contributions, plus associated earnings, from 1 July 2018 to buy or build a first home.

You have up to 12 months from the time you receive the first amount from Super to sign a contract to buy or build a house.

Testimonial

I am very grateful for the personal touch which Rosanne and David have always provided with my financial planning. They have always advocated the long term approach and my Portfolio has experienced excellent growth as a result. I have had a very long term association with Rosanne, David and John & I look forward to continuing to plan my financial future with their professional guidance.
Thank you sincerely for the generous amount of time spent on advising me on all financial and insurance matters. After making a significant professional change, John made me aware of the need to reassess my income protection insurance cover. As it turns out, the new policy which I purchased as advised by John, covered me for my recent out of work accident.
Thank you sincerely for the incredible assistance and advice regarding the insurance claim made recently for lost income due to illness. I recall how Rachael made me aware of the need to reassess my income protection insurance cover many years ago and thinking I would never need it. As it turns out, the new policy which I purchased as advised by Rachael, covered me for my recent illness which caused me to not be able to work for 3 months.
Rosanne, David & John have managed my Portfolio for 17 years now and in that time their service has always exceeded my expectations. They continue to ensure my financial needs are met and that I am fully informed with the reasonings behind their recommendations. I feel very comfortable knowing that Rosanne & David are managing my finances and have full confidence that their approach to financial planning will continue to produce excellent results for their clients
All good businesses to be successful need to be credible and have honest and reliable people directing and working for them.Some fifteen years ago prior to my retirement I was looking for a sound financial adviser to look after my assets.

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