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        <title>Bernie Lewis RSS feed</title>
        <description></description>
        <link>http://www.bernielewis.com.au/</link>
        <lastBuildDate>Tue, 21 May 2013 15:28:33 GMT</lastBuildDate>
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            <title>Create a retirement plan for a comfortable future</title>
            <link>http://www.bernielewis.com.au/financial-news/800503367-create-a-retirement-plan-for-a-comfortable-future.html</link>
            <description><![CDATA[Thinking about the future is something that many people do, but when it comes to putting a retirement plan (http://www.bernielewis.com.au/super/planning-retirement.html) together, few are as proactive as they would like to be.
A survey has been released shedding light on people&#39;s biggest financial fears - and not having enough money to live a comfortable lifestyle was one of them.
Australia&#39;s Money Confidence 2013, released by ANZ and Pacific Magazines, revealed that 48 per cent of people are worried that they will not have the funds they need to be happy in the future.
In addition, 28 per cent said they were concerned that they would not be able to maintain their current lifestyle in years to come.
There are various ways to avoid either of these situations arising, such as seeking superannuation advice (http://www.bernielewis.com.au/super/planning-retirement.html) and making sure your finances are up to scratch ready for when you do reach retirement.
Mark Hand, managing director of retail distribution at ANZ, said that people need to act sooner rather than later.
He continued: &quot;The research looks at how people think and feel about money and shows that a lot of Australians worry about their finances, even when things are going well.
&quot;We understand these concerns and encourage all Australians to take action to build their money confidence, rather than putting it off or trying not to think about it.&quot;
Of those polled, 83 per cent who were not confident about the future financial security said they either procrastinate or try not to think about putting a plan in place.
Women were shown to worry more than men, with 51 per cent of female respondents saying they find coping with money overwhelming and stressful, compared to just 37 per cent of men.
Not only this, a third of respondents revealed that money worries often give them sleepless nights.]]></description>
            <pubDate>Mon, 13 May 2013 20:40:10 GMT</pubDate>
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            <title>Consumers 'satisfied' with performance of SMSFs</title>
            <link>http://www.bernielewis.com.au/financial-news/800503034-consumers-satisfied-with-performance-of-smsfs.html</link>
            <description><![CDATA[The level of satisfaction with the performance of industry super funds is growing, but is still considerably lower than it is for self-managed super funds in Australia (http://www.bernielewis.com.au/super/planning-retirement.html), the latest figures show.
Data compiled by Roy Morgan Research highlighted that 50.6 per cent of people are happy with how their industry super accounts are performing, compared to 43.6 per cent for retail funds.
However, self-managed super funds (SMSFs) are well ahead of the pack, recording a satisfaction rating of 67.3 per cent.
Analysis from Roy Morgan Research revealed that the top 12 best performing super funds for member satisfaction were all industry funds - ESS Super led the way with a rating of 75.2 per cent.
The best retail fund was named as BT with a satisfaction level of 47.6 per cent, although this was still lower than the industry average of 48.4 per cent.
During the six months to July last year, overall happiness with super funds in Australia declined by 1.9 per cent to reach 48.4 per cent, although SMSFs have bucked this trend, recording a 0.8 per cent rise in the last six months.
Norman Morris, industry communications director at Roy Morgan Research, explained that fund managers need to take notice of what consumers think about the products they are providing.
He continued: &quot;Our research shows that there is a strong correlation between satisfaction with superannuation financial performance and the likelihood of switching funds.
&quot;The ease of switching super funds and the increase in people using self-managed super funds means that the retail sector will increasingly rely on their adviser network and advice to retain customers.&quot;
Mr Morris also noted that fund managers always need to make sure they are acting in the best interests of their client to ensure that they remain satisfied with the service they are receiving.]]></description>
            <pubDate>Wed, 08 May 2013 21:17:43 GMT</pubDate>
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            <title>Rate cut gives homebuyers a helping hand</title>
            <link>http://www.bernielewis.com.au/financial-news/800502914-rate-cut-gives-homebuyers-a-helping-hand.html</link>
            <description><![CDATA[
Anyone who has considered seeking home loan advice (home-loans/pay-off-debt-faster.html) may find that now is the best time to do so, as the Reserve Bank of Australia (RBA) has cut the official cash rate by 0.25 per cent.

A number of reasons for the decision were put forward, including a slowdown in the global and national economy and the feared downturn in the resources sector.
However, this reduction does bring a number of benefits - not least if you are thinking of applying for a new home loan (home-loans/pay-off-debt-faster.html) in the near future.
After all, the official cash rate has a bearing on the amount of interest you will pay on your mortgage, providing it is passed on in full by lenders.
The Real Estate Institute of South Australia (REISA) has welcomed the decision, with its president Greg Moulton saying that many people had been holding off signing for a home loan until the decision was made.
He acknowledged that for first-time buyers in particular there is still a level of caution - although the fact that the cash rate is now at a historic low of 2.75 per cent may give people the confidence they need.
"We are seeing a watchful interest in the housing market with both buyers and sellers genuinely anxious about taking the next step and a cut in interest rates may just be the deciding factor," commented Mr Moulton.
He emphasised that housing affordability is still very much in the spotlight and that the cash rate will undoubtedly have an impact on people's decision making.
However, the expert stressed that for the property market to really benefit, it is now down to lenders to make sure they pass on the full 0.25 per cent reduction in full.
"Home affordability is a key issue which is raised with REISA members on a daily basis and monthly mortgage repayments have to be considered by virtually every purchaser, whether they are buying to live in the property, or buying for investment purposes," he stressed.
 
 ]]></description>
            <pubDate>Tue, 07 May 2013 21:14:45 GMT</pubDate>
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            <title>Questions you should ask when applying for a new home loan</title>
            <link>http://www.bernielewis.com.au/financial-news/800502599-questions-you-should-ask-when-applying-for-a-new-home-loan.html</link>
            <description><![CDATA[
If you have decided to take your first steps onto the property ladder, there are many financial considerations that you need to make.
This is one of the biggest financial commitments that you will ever sign up for, so getting it right from the start is essential to your long-term security.

These are some of the questions you should be asking yourself when applying for a new home loan (home-loans/pay-off-debt-faster.html) to make sure you end up with the right product for your needs.
What are the differences between types of home loans?
When you start looking at home loans, you will no doubt notice that there are various different types available.
The best way forward to seek home loan advice (home-loans/pay-off-debt-faster.html), as an expert will be able to point out the advantages and disadvantages of each product, therefore allowing you to make an educated decision.
What interest rates are available?
Once you have decided on the mortgage you would prefer, it is essential to look at the interest rates that are available, as this will affect your repayments.
Note that there are various things to take into consideration when selecting the ideal home loan - and the rate of interest should be just one aspect of this.
What fees and charges are associated with the account?
Bear in mind that some home loans will have fees and charges associated with them, so it is important to be aware of these before you sign up.
Any mortgage broker in Adelaide (home-loans/pay-off-debt-faster.html) should be able to explain these to you in more detail so that you can make an informed decision.
Can the loan be transferred to another property?
Although this might not be high on your list of priorities at the moment, it is important to think about whether the home loan you choose can be transferred to another property.
If not, ask yourself whether there is another mortgage out there that better suits your needs if this is a consideration.
 ]]></description>
            <pubDate>Thu, 02 May 2013 21:35:13 GMT</pubDate>
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        <item>
            <title>Retirement strategies to maximise your income</title>
            <link>http://www.bernielewis.com.au/financial-news/800502491-retirement-strategies-to-maximise-your-income.html</link>
            <description><![CDATA[When it comes to putting together a retirement strategy (http://www.bernielewis.com.au/super/planning-retirement.html), you could find yourself overwhelmed by all the options that are available.
Seeking retirement advice is a good way of putting your needs into perspective and coming up with a sound plan.
Here are some of the most common ways to approach retirement, helping ensure that you have enough money to live on and enjoy your post-work years.
Use tax-effective savings for your non-super money
It is important to remember that although retirement superannuation (http://www.bernielewis.com.au/super/planning-retirement.html) will provide a large amount of your income, it is not the only source of savings.
One way of making your savings last longer is to make sure your money outside of super is invested in the most tax-effective way possible.
Increase your super without reducing income
People who are over the age of 55 and still in employment may find it worthwhile to benefit from a super income stream while they are working.
This can help to increase retirement savings, without creating the need for you to lower your income during your final years in employment.
Salary top-ups when moving into part-time roles
If you are planning on reducing your working hours as you approach retirement - as many people do - you will need to make sure that you are able to supplement your fall in income.
It is therefore a good idea to receive a tax-effective income to replace your lost salary, meaning that you will pay less tax on your investment earnings.
Reinvest your super for tax benefits
Another popular option is to increase the income that you are able to receive tax-free each year to help meet your living expenses.
This means that beneficiaries who are not dependents for tax purposes - such as grown-up children - to reduce their tax bill in the event of your death.
 ]]></description>
            <pubDate>Wed, 01 May 2013 21:15:13 GMT</pubDate>
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            <title>Steps for finding the right home loan for you</title>
            <link>http://www.bernielewis.com.au/financial-news/800502202-steps-for-finding-the-right-home-loan-for-you.html</link>
            <description><![CDATA[
Getting onto the property ladder for the first time is a big step, so it is essential to make sure you find a home loan in Australia (home-loans/pay-off-debt-faster.html) that is right for you.

This means investing time in carrying out research - the chances are that the first product you come across might not be right for your needs.
Getting your product right first time is essential if you are going to stay financially secure throughout the duration of your mortgage, otherwise you could find yourself facing difficulties.
How much deposit do you have?
One of the biggest factors to take into consideration when deciding what new home loan (home-loans/pay-off-debt-faster.html) to apply for is the size of your deposit.
A larger deposit can sometimes give you access to the best deals, so it may be worth saving up as much as you can for a down payment on your property.
Use a mortgage calculator
A mortgage calculator is a basic yet effective way of helping you decide on a home loan - simply input information such as how much deposit you have and the price of the property you are looking at.
This will give you an idea of the size of the mortgage you need to apply for, although it is always wise to back this up with some tailored home loan advice (home-loans/pay-off-debt-faster.html).
Meet with a mortgage broker
Setting up a meeting with an Adelaide mortgage broker (home-loans/pay-off-debt-faster.html) is a great way of finding out what home loans are out there - and which are likely to be best suited to your situation.
The choice may seem overwhelming at first, but having an expert guide you through the process can help take some of the stress away, as well as giving you a greater understanding of the market.
 
 ]]></description>
            <pubDate>Mon, 29 Apr 2013 21:22:03 GMT</pubDate>
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            <title>Could another rate cut be on the horizon?</title>
            <link>http://www.bernielewis.com.au/financial-news/800502032-could-another-rate-cut-be-on-the-horizon.html</link>
            <description><![CDATA[
Results of the consumer price index (CPI) for the March quarter show that the measure of inflation is largely within the target zone and is starting to slow down - giving support for a cut to the official cash rate.

This is according to the Real Estate Institute of Australia's (REIA's) president Peter Bushby, who said that the Reserve Bank of Australia (RBA) needs to do whatever possible to stimulate the economy.
Lower cash rates tend to encourage people to enter the property market, which in turn would lead to more applications for home loans in South Australia (home-loans/pay-off-debt-faster.html).
Mr Bushby commented: "The latest figures are well within the RBA's target zone of two to three per cent and should provide a clear message to the Board to further reduce official interest rates."
The RBA is due to meet for its next meeting next week (May 7), with many property groups such as the REIA pushing for a cash rate reduction to stimulate the sector.
Minutes from the last RBA meeting show that the bank believes conditions in the domestic and global economy are improving, which may not present a case for lowering the interest rate.
Governor Glenn Stevens explained that the housing market is doing well at the moment, with house prices increasing in March to be 4.25 per cent higher than low-point seen in the middle of last year.
There has been more positive demand for properties recently, he continued, with a rise in activity recorded in most of the nation's capital cities.
South Australia is one area to have seen its property market boom over recent months, as data from the Australian Bureau of Statistics shows that more properties are being constructed throughout the state.
On a seasonally adjusted basis, the number of dwelling commencements increased by 40.1 per cent in the three months to December.
 
 ]]></description>
            <pubDate>Sun, 28 Apr 2013 20:15:58 GMT</pubDate>
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            <title>How much super do you need for a comfortable retirement?</title>
            <link>http://www.bernielewis.com.au/financial-news/800501913-how-much-super-do-you-need-for-a-comfortable-retirement.html</link>
            <description><![CDATA[
When it comes to putting together a retirement strategy (super/planning-retirement.html), one of the questions that many people ask if how much super they will need to lead a comfortable retirement.

This will, of course, vary from person to person, as the amount you require will depend on a variety of factors.
The latest estimates from ASFA suggest that a couple looking to achieve a comfortable retirement will need to spend in the region of $56,339 a year compared to $32,555 a year for a more modest lifestyle.
However, it is worth bearing in mind that living costs are rising all the time, so make sure you take this into consideration when putting together a retirement strategy.
In fact, the latest inflation figures for the March quarter show that the consumer price index increased 0.4 per cent during the three-month period.
One of the most significant price rises was pharmaceutical products, showing that even everyday purchases can have a considerable impact on retirees' everyday spending.
What lifestyle do you want?
One major consideration is the type of lifestyle you want to lead when you reach retirement age - if you have your heart set on travelling, for example, your financial needs will be greater.
It is also important to bear in mind any hobbies you might want to pursue once you have finished work and how much they are likely to cost.
What are your financial commitments?
Some people enter retirement with financial commitments that will need to be factored into their strategy.
You may, for example, still be paying off a mortgage and need to ensure you can afford to do so each month, or you may even have financial dependents still living at home.
All these are important to think carefully about when calculating the amount of retirement superannuation (super/planning-retirement.html) you will need.
 
 ]]></description>
            <pubDate>Thu, 25 Apr 2013 21:19:24 GMT</pubDate>
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            <title>Is now the time to buy property in Adelaide?</title>
            <link>http://www.bernielewis.com.au/financial-news/800501882-is-now-the-time-to-buy-property-in-adelaide.html</link>
            <description><![CDATA[
Buyers who have been holding back on getting a home loan in South Australia (home-loans/pay-off-debt-faster.html) may find that new figures give them the encouragement they need, as prices in Adelaide have declined.

Covering the three months to March, figures from Australian Property Monitors (APM) show that house prices in Adelaide declined 0.8 per cent.
Unit prices also experienced falls of 1.1 per cent, suggesting there may be some good deals on offer for anyone seeking a home loan in Australia (home-loans/pay-off-debt-faster.html).
APM's senior economist Dr Andrew Wilson highlighted that there are plenty of reasons why people should think seriously about getting onto the property ladder at the moment.
Among them is low interest rates - the official cash rate in Australia has remained at three per cent since December last year and APM does not believe it will fall much further.
This will encourage lenders to offer favourable new home loan (home-loans/pay-off-debt-faster.html) products to customers who are looking to get into the market for the first time.
Not only this, there has been an improvement in confidence throughout the nation, suggesting that people are now more willing to spend.
This is a view that was certainly echoed in the latest Property Council/ANZ Property Industry Confidence Survey, which illustrated that confidence is on the rise in South Australia.
Improvements in the availability of finance were one of the main reasons why people were so optimistic in the region.
The Property Council of Australia's executive director for the South Australia division Nathan Paine said that there are also other forces at work.
He commented: "The jump in confidence could be partly attributed to the stimulatory impact of major government projects continuing to flow into the property sector.
"A late uptake of the government's Housing Construction Grants before their impending wind-up could also be a factor."
 
 ]]></description>
            <pubDate>Wed, 24 Apr 2013 21:22:30 GMT</pubDate>
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            <title>Issues to consider during the transition to retirement</title>
            <link>http://www.bernielewis.com.au/financial-news/800501776-issues-to-consider-during-the-transition-to-retirement.html</link>
            <description><![CDATA[
Although getting your retirement superannuation (super/planning-retirement.html) in order is a crucial part of finishing work, there are other considerations that you will need to make.

For some people, the transition to retirement comes naturally, while for others it can be a change of lifestyle that they are not ready for.
There are several steps that you can take to prepare yourself for retirement, allowing you to enjoy your post-work years from day one.
Think about your lifestyle
A key part of retirement is the lifestyle choices you make - what do you hope to achieve now you have finished work?
For many people, this involves pursuing hobbies or spending more time with the family, although there are no set rules over what you should and shouldn't do.
Having a clear perception of what your lifestyle will be like is an important part of a retirement plan (super/planning-retirement.html), as it will help keep you busy when work finally does come to an end.
Consider how your relationships will change
Retirement can also have an impact on your relationships, especially if you are living with a partner or spouse who also no longer works.
Take time to discuss what you want out of retirement, otherwise you could find that you get under each other's feet and friction begins to build.
This means talking about how your lives will change both financially and in terms of your lifestyle.
Be happy in retirement
The ultimate goal is to be happy in your retirement - how you go about achieving this is down to you.
Having financial security is undoubtedly an important step towards achieving this, otherwise you run the risk of your post-work years being plagued with money worries.
Take the time to put together a retirement strategy (super/planning-retirement.html) and you will be well on your way to happiness and security.
 
 ]]></description>
            <pubDate>Tue, 23 Apr 2013 21:34:37 GMT</pubDate>
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