Your Goals for 2012
With the blink of an eye we are a quarter of the way into the year already!
Now is a good time to think about your goals for the rest of the year, and what you have achieved so far.
What are your goals for 2012 and beyond?
Paying off debt? Need a budget planner?
- Assess your superannuation fund? Rebalancing your portfolio?
- Entering into new investments and reviewing the options available?
- Travelling overseas?
- Saving for your children’s education?
- Keeping a healthy lifestyle and taking care of your family?
We are here to help you every step of the way. Schedule a time to meet up with us this year and take the first step towards achieving your goals.
Super VS. Mortgage
Have you ever wondered whether to put money into your super or your mortgage?
Logically, most people will prioritize paying off their home mortgage as it is the largest financial burden you will carry in your lifetime. However, depending on your age and financial circumstance, the most logical answer is not always the most appropriate. There is a lot to consider in whether to put your hard-earned money towards your mortgage or your retirement. There may be tax consequences and/or savings, Government co-contributions to super, liquidity issues, and the risks associated with the economy. These risks include, but are not limited to: interest rates, market volatility, legislative, and property value fluctuations.
For these reasons and for peace of mind, seeking financial advice to address these decisions is crucial. We can assist in budgeting and strategy, ensuring that your money will work harder for you and planning a secure retirement when you do decide to leave the workforce.
Europe’s current recession has become a global concern, inevitably also affecting the Australian economy as their debt crisis continues to deepen. Low confidence in the market has resulted in extremely cautious investors and a slow-down in the purchase of government bonds. Thus, this is placing a large strain on Euro markets and their financial system, as they attempt feebly to raise capital. Due to the recent regulatory changes, the Euro banks have been trying to reconstruct their financial position by de-leveraging and reforming their balance sheets. However, these changes may lead to a domino effect that can put pressure on Australian banks to tighten their capital and pass this burden onto customers by increasing interest rates.
In the Australian economy alone, we have seen a reduction in consumer retail spending because of the uncertainty about the market, leading to low confidence and a greater urgency to save. Businesses have also been impacted, as large-scale corporations such as Toyota and Qantas are being forced to retrench thousands of staff as a result of involuntary restructuring changes and a decrease in profit margins. In addition, Australia’s huge commodity export market that has previously kept our head above water may not withstand the pressures this time. The RBA has stated that the increasing Euro debt crisis could result in a sharp slowdown in Asian economies – directly impacting our exports, essentially causing a further slowdown of our economy.
Now, is an important time as ever to ensure your finances are secure, and that your short and long-term goals are suited to the unpredictability of the global economy.
Home Loan Health Check
Oak Financial can compare your current home loan against a panel of lenders and provide you a competitive cost benefit analysis of using different home loans thereby allowing you to make the best financial decision.
Refinancing through Oak Financial can reduce overall payments, debt and most importantly utilise equity in your home for personal or investment purposes.
If you are successful refinancing through us, we will also give you a $50 Coles/Myer gift voucher as an added thank you.
To find out more, please call our accredited mortgage broker Lester on 03 9859 1325.
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You can also visit our website www.oakfinancial.com.au for the latest news, and how we can help you.
The Oak Team