Unfortunately no one aced the par 3, 10th hole with the nearest shot from Ian McNabb who was only 4’ away. Ian won a dinner for two donated by Sirromet Wines. Our winners were Martin Manning and Troy McGuinness with a net 60; they won a round for 4 at Brookwater Golf Club as well as the usual member’s prize. The best score from one of the TWM teams was from John King and Steve Lampard who handed in a net 64. A strange coincidence occurred when one of the nearest to the pin prizes of a bottle of red wine that I personally donated was handed straight back to me when I won the prize for that hole. Oh well, I guess I’ll just have to donate it again next year.

The atmosphere on the 10th tee was fantastic as each player from the field of 169 attempted to pick up the cash prize. A big thank you to Narelle, Anne, Monica and Emma for supervising the hole in one attempts on the day and for some fun interaction with the players.
I can announce that a total of $3,200 was raised thanks to the tireless work of Gayle, Kate and Robert on the day and over the weeks leading up to the event. We all look forward to another successful day next year so mark your calendar for 2018 and the 1st weekend in May.

The post Golf Day Rundown – 2017 appeared first on Total Wealth Management.

If you have any questions please give our office a call, having a mentor to help you move forward through the financial markets is very important and that is what we specialise in. It costs nothing to ask and little effort to organise an appointment. It may well be the best decision you ever make.

The post Advice for 20 year olds and Investing appeared first on Total Wealth Management.

The post Total Wealth management $10,000 Hole in One Charity Golf Day appeared first on Total Wealth Management.

How did Roger Federer win the Australian Open and what does he have to do with wealth creation? He’s 35, had knee surgery 12 months ago, was ranked 17th and had to play 3 top ten players, just to get to the Final.
How about, Roger knows how to take care of business. He doesn’t wait until the second Set to win. He starts from the get-go.

Let’s look at some stats;
• Roger Federer won the first set of Every Match he played in the Australian Open.
• For the first three sets of every match, he won either two or three of the sets.
• Out of Seven games, he only played three five setters.
Basically, he doesn’t wait to win. He gets on with the job from the first serve. Sure he has some resistance from better players, especially in finals. But by winning the first set he sets the tone of the match, he controls the game. By moving early, Roger Federer gets the advantage.
Physically he is at an advantage because he doesn’t have to work as hard as he is playing less sets over the course of two weeks. At 35, each set adds up – especially come the Final.
Psychologically, he forces his opponents into a defensive position, where they have to adjust their strategy to compete with him. He is able to maintain composure throughout the Match, as he is always in front.
So how does this translate to being wealthy? Well, unless you’re a tennis pro this exact strategy probably doesn’t translate directly. But if you’re an average punter, there is an important lesson here.

Start Early.

Get ahead sooner rather than later. Don’t wait for the right time. Just do it. Wealth creation is a long term project.
Let’s look at a financial example. Sarah and Dave contribute $2,400 pa into an investment. The only exception is that Dave is going to start 10 years later. Now obviously, he is going to have a smaller balance at age 65 when they both retire, but how much is the scary part.

Just do it!

Sarah gets to retirement with a whopping $419,000, whereas as Dave only has $215,000.
That means $204,000 is the cost of delay!
Even crazier, the end balance for Sarah is generating $23,000 pa, compared to Dave who is pulling in just $12,000 pa. Sarah will get paid twice as much for her wealth creation in retirement as Dave will, just because she started ten years earlier.

Two key takeouts from our lessons in tennis.
One -If you want to be the local tennis pro – finish your games early (in time for a quick beer or maybe a round of golf in the afternoon) and give up the five setters (your knees will thank you for it).
Two – if you want to make money through investing, start early. Delaying a wealth creation plan will only cost you.

The post What Does Tennis Have to do With Wealth Creation? appeared first on Total Wealth Management.

Have you ever wondered why it is easier to buy a car than it is to save for retirement?

We know that the second a car rolls off the lot it significantly reduces in value. Compared to that your super is likely to actually increase in value over the life of the vehicle. Why then do people find it easier to buy a car?

Because of immediate gratification – we get something straight away.

After you’ve signed the paperwork and handed over a huge amount of cash, you get to enjoy your Brand New Shiny Car – all for you.

Sure your money is gone, but look at the car…

How do you feel about your shiny new car a month later? Or a year later?

You probably have gotten to the point of washing it once a month (yes, driving through a thunderstorm counts as cleaning), letting the kids eat in the back and you don’t mind if someone gets a bit of dirt on the upholstery. By this time the new car obsession is gone.

You see buying a car might provide satisfaction in the here and now, but it rarely holds value (in our minds and in the marketplace) for more than a year and is it really the best place for your money?

Planning for retirement

Planning for retirement on the other hand doesn’t usually give you immediate gratification, but it is a prudent place to invest.

We think that if we save a little more and add it to our super we’ll be right when we get to retirement age. But that’s the problem, we think we’ll be alright, but we don’t know.

With a new car purchase, we know exactly what we are getting and receive our car as soon as we hand over some cash. We have certainty. But with retirement (being so far into the future) we have no idea what our retirement will look like.

So, how do you get the best of both worlds – gratification and certainty?

We approach this by showing you your future financial position using your current situation and alternatives. We make it possible to see what your retirement looks like, 10, 20, 30 years down the track. We do this so that when you make a contribution to your super fund or decide to purchase an investment property, you know that this will ensure you can enjoy a comfortable retirement.

This regular review process allows for us to provide greater certainty to you and hopefully greater peace of mind. It allows for you to draw the connection between depositing funds to super and the benefit you will receive (albeit in the long term future).

Most importantly though, planning for retirement provides a sense of gratification today for making progress towards your long term future prosperity.

The post What Value do you Put on Planning for Retirement? appeared first on Total Wealth Management.

One of the biggest reasons people often get confused is that while all of these insurances relate to a person’s health, they have a wide range of benefits which are often perceived as being similar, when in fact they are very different.

Benefits provided by Health Insurance, Income Protection and Trauma Insurance

Health Insurance

Health insurance provides a range of benefits, based on the level of cover you have. One of the biggest reasons for choosing health insurance is to avoid paying the Medicare Levy.

If you have a Comprehensive level of Health Insurance you may have an Extras package, which will provide you with additional benefits such as dental, optical, chiropractic.

Generally, the level of cover you hold determines a gap amount or a rebate amount. For example, you may receive a 55% rebate on regular dental check-ups. This rebate usually comes with an annual rebate amount – i.e you may be limited to claiming up to $500 pa on dental.

Effectively, Health Insurance relates to the expenses of health care.

Income Protection

Where Health insurance covers health care expenses, Income Protection covers your lost salary if you are sick or ill.

In fact, Income Protection simply provides you with a monthly cash amount, based on the level of cover you have taken out. So, if you are unable to work, because you are sick or ill, you will be paid the monthly benefit until you can return to work.

There is no mandate that states what you must spend your income protection benefit on. It could be medical expenses, it could be on food or the mortgage – it is entirely up to you.

Trauma

Similarly, to income protection, trauma is a cash payment, that can be used for anything you wish. However, trauma is a lump sum payment that is generally reserved for critical illnesses, such as cancer, heart attack and stroke.

Trauma insurance works in conjunction with Health insurance to ensure you are not left out of pocket, when you are diagnosed with a major illness. While Health insurance may cover a lot of medical expenses, there are often limits or gaps, that can mean you are still required to pay for medical costs – not something you want to worry about when deciding to get lifesaving surgery!

Why should I have these insurances, if they are so similar?

While each of the insurances do have similar circumstances under which to claim, the benefits provided by each of these insurances varies widely;

• Health Insurance: Covers medical expenses
• Income Protection: Covers lost salary
• Trauma insurance: Cover major illnesses & health insurance shortfalls

Rather than thinking of these as the same thing, it is best to think about them as complimentary policies that provide a total insurance health plan.

The post What’s the difference between Health Insurance, Income Protection and Trauma Insurance? appeared first on Total Wealth Management.

Team J and J  raising funds for the Leukaemia Foundation.

       WIN $10,000

…FOR A HOLE IN ONE on the par 3  — 10th

     The major prize is a round for 4 at Brookwater Golf Club.

Plus   golf prizes -nearest to the pin and longest drive, also raffle tickets sold on the day for prizes including  vouchers,  dinner and  accommodation…

       ….so why not join us for a game?

Where : Ipswich Country Club,  1 Samford Rd Leichhardt

When : Saturday April 30th

 Time: Normal members from 7 am or

             TWM Teams from 12 pm

Competition : 2 person Ambrose

 Cost : $20 each

  Carts : $25 extra (book with pro Phone: 3812 0488)

Book now by calling Chris Howard on 3281 1226 or by email – chris@totalwealth.com.au

In our 2015 round of grants, the Leukaemia Foundation is investing almost $4 million of donated funds in an  additional 14 promising blood cancer research projects, taking the total number of research projects currently being funded, to 49. A diagnosis of leukaemia, lymphoma, myeloma or a related disorder can have a   dramatic impact on a person’s life. At times it can be difficult to cope with the emotional stress involved. The Leukaemia Foundation’s support services team can provide you and your family with much needed support during this time. We cherish any support you can provide to us on behalf of the people and the families affected.

The post TWM Golf day to raise funds for The Leukemia Foundation appeared first on Total Wealth Management.

• Start up equipment finance when banks don’t want to know you
• No capital outlay, keep your cash for more important things
• 100% tax deductible monthly payments
• Fast approval – 24 – 48 hrs / easy application
• No financials under $50,000*
• Maxed out capital expenditure budget
• Choices available at the end of the 1 year term

Once the rental term is over, the business has 4 choices:-

1. Hand the equipment back as it has served its purpose
2. Continue to rent
3. Buy the equipment outright and get a 75% rebate on all the rental repayments made
4. Switch to a ‘rent-to-own’ plan for another 3 years where the equipment is owned at the end of the term

The flexibility of these options along with the net cost to the business is something that should not be over looked. Lease and chattel mortgages can tie businesses down for long term periods and reduce flexibility. On the other hand, equipment hire is very expensive and may leave you open to availability and weather issues. Consider the adjoining chart.

The rental option is a pathway to ownership while at the same time presenting you with a very economic alternative to bank finance, particularly if your business fits into one of the categories highlighted above.

For example, a $30,000 service van for your business would rent for $355 per week, after 12 months the buy back price on this asset would be $20,036. Lets consider each of the end of term options mentioned above:-

1. Hand the equipment back as it has served its purpose – The total rent paid would be $18,495 and the tax deduction claimed on these rental payments for a company would be approximately $5,550 (30% tax rate). The net payments would total $12,946, therefore by adding the end of year 1 purchase price to the net payments the rental cost of ownership would be $2,157 or $41.50 per week against having purchased the van outright. The revenue and profit generated by the asset should be well above this cost.
2. Continue to rent – If your contract ran for a few more months, you could still exercise the above option at the completion and each rental payment would continue to add to your rebate total if you decided to purchase the asset.
3. Buy the equipment outright and get a 75% rebate (net of tax) on all the rental repayments made – Net of tax requires the deduction of 10% input tax credits claimed from the 12 month rental figure before multiplying the total by 75%. This is then subtracted from the purchase price and tax is added back on for sale back to your business at a price of $20,036.
4. Switch to a ‘rent-to-own’ plan for another 3 years where the equipment is owned at the end of the term – rental payments are reduced by approximately 30 % during this period.

*Each application is assessed on its own merits

For more information on financing your asset purchases, please contact Chris at TWM Finance on 07 3281 1226.

The post Financing your asset purchases appeared first on Total Wealth Management.

healththenandnow.com

All perfectly sensible questions but trying to find answers yourself is like trying to solve a Rubik’s Cube – it’s complex and most of us give up before we find the solution. So what to do?

Total Wealth Management are delighted to say we can help our clients review their health insurance to make sure you have the right policy at the right price for your needs.

We’ve established a referral arrangement with ItsMy Health*, a company that specialises in reviewing and comparing health insurance polices. There’s no cost and no obligation and it will help you answer the questions that probably nag you every time you make a claim.

To review your health insurance and go into a draw for a BOSE Speaker^# – simply click here, provide a few details and a representative from ItsMy Health will call you on our behalf. Easy as that!

If there’s a better policy or a cheaper policy that meets your needs, they’ll recommend it to you and handle the paperwork if you decide to swap. If you’ve already got the best policy at the best price, they’ll tell you. You can’t ask more than that.

There’s a good chance it’ll ease the squeeze on your budget and get you a better health insurance policy to boot.

For more information call our office NOW on 32811226!

The post Health Insurance in a Word: OUCH! appeared first on Total Wealth Management.

news-quality.com

Is that it? Only 75%!

I also suspect that it is much lower then this number if the respondents were to dig deeper into the loans they had, found out exactly what they were paying for and what they were really using. You should not assume that your lender is offering you a great credit card and home loan rate, you need to know for sure.

What can you do about it? To see if you pass the misguided loyalty test, answer the following three questions. If you can not confidently answer each one with a yes, then you fail the test:-

1. Do you know what the exact interest rate is on your current home loan?
2. Do you know what loan features you have and if so, are you are using what you are paying for?
3. Has your local bank manager has contacted you in the last two years to say hello and see how you are going with your home loan?

Don’t line your lenders pockets! Paying off your mortgage is one of the smartest things you can do for yourself and your family. Here is a three step plan of action to make sure you are on the way to being mortgage free:-

1. Know your numbers. How much principal did you pay off last month compared to interest? Knowing this number will give you a true sense of how much better you may be able to do with a more suitable home loan.
2. Tidy up your budget. The extra effort put into identifying where you can find an extra $100 per month can take years off the life of your loan. If you can couple this with a better rate then you may be well ahead of the eight ball.
3. Motivate yourself. In order for this to work you will need to print out your amortization schedule, this is a table showing the amount of principal and the amount of interest that comprise each payment so that the loan will be paid off at the end of the term. Check out the great calculator on the following site, amortization schedule calculator. Use this to keep track of your mortgage payments and note the difference that extra payments make to the loan term and interest charged.

On a final note, you should know that the real cost of your mortgage is the opportunity cost. The estimated ‘real’ cost of your home is three times what you repay, that is three houses or if you are comfortable with misguided loyalty, one house for you and two for the bank. Extra repayments short circuit your amortization schedule because an extra 10% off your mortgage payments may be five years off your loan term.

If you feel you have been betrayed by your lender and are guilty of having a misguided loyalty, if you need help to work out your numbers, or if you would like some advice on which loan may be suitable for you, please give me a call on 0439 663744 and we’ll see what you may be able to save.

The post Banking on your misguided loyality appeared first on Total Wealth Management.