Crunching Numbers


My apologies for the lack of posts.  I have been busy at work this week and we had an appointment on Tuesday evening to complete our tax returns. We will both receive a modest refund which will be paid into the mortgage.

We have also been looking carefully at the balance of our superannuation funds and weighing up the best options for our current income.  Pay down debt or build up superannuation?  It is a balancing act and one that you need to review regularly and give consideration to your own circumstances.

There are various calculators available online that you can use to test different scenarios.

How do you make decisions about your financial future?  Do you have a financial advisor?

9 thoughts on “Crunching Numbers

  1. I don’t have a financial adviser and try to avoid having any money sitting in accounts that I could lose money on. The lower interest is fine by me as my needs are so small. Congrats on getting money back.

    • Living simply means so much. Less needs – less money – less stress and time spent managing money. It is just so much easier. Well done.

  2. Sounds so familiar. We have really decided to save and use our funds now while still working for some overseas holidays spaced about three years apart with an Aussie holiday in the middle. I see older friends and family falling to illness, bad knees etc and it has made me realise that you cannot really plan for what you don’t know will happen and should enjoy life as it comes.

    We have good super and will be able to pay out the home loan and still have a good pension for our own needs so we will enjoy it now.

    • That sounds like a well thought-out plan, Sandy. I know what you mean about not knowing what is around the corner so we need to balance what we can enjoy now with some planning for the future.

  3. Meant to say we do now have a financial planner a bit younger than us (so he can still be around when we need him) and have a great dialogue with him. It has taken a long time to find him though.

    • A very valid point about the age of your financial planner. We have debated the merits of a financial planner but as usual , we have decided that at least for now we are capable of making our own decisions and are comfortable with our own wisdom.

  4. We have no financial planner. We did have one many years ago, but he was not a good adviser, and after seeing friends lose all their money, and our own son losing too, due to bad financial advice, I have always made the financial decisions in our household, always taking into account both our needs. We have had only the one income for the past 12 years, due to health reasons and family commitments, and with hubby being self employed his super is very small. We did begin putting super in around 1986, but we lost most of it in 3 market crashes. When the GFC was looming and with retirement closely on the horizon, I moved the super into safe mode, so it hasn’t grown much over the past few years. However, we made the decision to sell off half of our large rural residential block and this has enabled us to become debt free at last, paying out the mortgage and car loan, and has given us a modest boost to the super, too. Now that hubby has decided to go part time and will finally retire in 2014, we feel a little more secure. We will still need to claim the age pension, and have a moderate amount of savings but the super will provide us with an annual lump sum from an annuity, and we intend this to be our safety net and hopefully allow us to travel a little.

  5. Pat – It is awful to see people lose money because of bad advice. I guess this is what has always held us back. We regard ourselves as relatively savvy about money and make our decisions jointly. This leads to some robust discussions 🙂 but we work it out eventually. The ability to access online calculators which will show detailed projections of superannuation balances and possible scenarios with increased contributions etc really helps rather than just guessing.

  6. I only just started catching up on your posts – I could have linked to you about Super too! Although we’re a slightly different age, you don’t look a year over thirty to me! I don’t have a financial planner either…

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