Endorphin Wealth Team Update

The Endorphin Wealth family have recently returned from our annual conference. This year we headed down to Marysville where we mapped out our client journey and how we can better the experience for all our families along the way.

Whilst there, we took the opportunity to get our professional photos re – taken.

Be sure to check a selection of our shots out below!!!

Benefits of Consolidating Super

The Australian Securities and Investment Commission (ASIC) reports that there are billions of dollars sitting in unclaimed or “lost” superannuation accounts. There are thousands more accounts added to the list each month.

Inactive accounts with balances of less than $6,000 are transferred into the federal government’s consolidated revenue fund. If you think you might have some old superannuation accounts that you haven’t touched in three years, don’t hand it over to the government, claim it!

The team here at Endorphin Wealth can help you remove any confusion and clean up your multiple super accounts!

Let’s take an example

You’ve had a few jobs over the years and been paid superannuation during each one. You have a number of super funds and you forget all about them until the annual statements arrive by mail.

Now you feel worried and confused. What does it all mean? Have I got them all? Is my money still safe? Am I paying for multiple insurance policies? What should I do with all this paperwork? And the worst one – am I paying too much in fees?

The usual option is to simply put them into your “too hard folder” and forget about it until next year… and then you go through all that confusion again!

But there is a better way and if you act now you can sort it all out and potentially save a lot of money!

Here is a five-step process to help you on your way:

  • Collect all the superannuation statements you can find from your “bottom drawer” or print the latest from each of your online accounts.
  • Make a time to meet with your experienced financial adviser to go through the paperwork.
  • Seek advice and select one superannuation fund that suits your needs.
  • Sign transfer forms so your adviser can help get the accounts consolidated to your chosen fund.
  • Relax knowing that your super is all in one place.

Seriously, superannuation is too important to ignore. Getting your super under control can save you money in fees, cut down on paperwork, allow you to get an investment strategy in place, and help you keep track of your money.

The team at Endorphin Wealth have both the experience and knowledge to help keep clean up your superannuation accounts.

For an obligation-free conversation about your financial future, please contact our financial planners in Melbourne on 03 9190 8964 or at advice@endorphinwealth.com.au.

Importance of Estate Planning

Having a set estate plan in place is not something that everyone thinks about. However, here at Endorphin Wealth  we believe that a plan for the future is an important part of your overall financial hygiene.

We can help you understand the importance of a good plan and can introduce you to experts in the field who will make the process of setting up your Will and Power of Attorney a simple task!

Getting your estate in order is more important than ever before.

There are many reasons why having an up-to-date estate plan is so important.  Taking the time to get an estate plan in place will ensure your loved ones will be in the best position to deal with an unexpected event. It will also reduce the risk of family disputes or the likelihood of expensive legal actions in the future.

What should you have?

Regardless of your age or financial situation, at a minimum you should have an:

  • Up-to-date Will that reflects your wishes and any limitations you would like to impose on your estate. It is important to remember that the Will only comes into effect when you pass away
  • Enduring Power of Attorney. It is in effect during your lifetime and relates to your financial and legal affairs. It allows you to appoint a person/s to assist with financial affairs if you were to be incapable of managing your affairs
  • Advance Health Directive. It is also in effect during your lifetime and relates to your medical needs. It allows you to appoint a person/s to decide matters including medical services you should receive or refuse to receive.
  • Valid death benefit nomination in super. You should contact your Financial Advisor to check your nomination and ensure it reflects your wishes. This is important because super does not automatically form part of the Estate unless you made a nomination to your legal personal representative.

Next Steps?

It is important to reach out to an Endorphin Wealth Financial Advisor to help guide you down the right path. We can put you in touch with specialists and can research your superannuation to ensure your nominations are in place.

For an obligation-free conversation about your financial future, please contact our financial planners in Melbourne on 03 9190 8964 or at advice@endorphinwealth.com.au.

 

The information contained in this article is general information only. It is not intended to be a recommendation, offer, advice or invitation to purchase, sell or otherwise deal in securities or other investments. Before making any decision in respect to a financial product, you should seek advice from an appropriately qualified professional. 

We believe that the information contained in this document is accurate. However, we are not specifically licensed to provide tax or legal advice and any information that may relate to you should be confirmed with your tax or legal adviser.