at 531 Macauley Street, Albury, 2640 Australia
PY Financial Services delivers comprehensive financial advice. We pride ourselves on specialising in holistic advice.
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The PY Team is working until midday Christmas Eve, and then we are off until January 5. Make sure you contact the office if you need anything before then. 02 6021 7000. More importantly, enjoy your holidays!
Have you ever had trouble borrowing the amount you want for a house? Your credit card could be the thing stopping you. For every $5000 you are able to put onto your credit card it potentially minimises your borrowing power by $25,000. This means a couple with limits of $20,000 on their credit cards could reduce their borrowing power by $100,000.
The RBA today leaves the cash rate @ 2.50% Given that the Reserve Bank Governor Glenn Stevens recently announced their intention to keep rates low for the foreseeable future, with the need for stronger growth outside the resources sector justifying more “accommodative” monetary policy, today’s decision to leave rates on hold at 2.50% comes as no surprise.
Coming into the festive season we are all thinking about presents and holidays. However now is a perfect time to review your personal cover. Injury and illness is at its highest over the festive season. What would happen if you were injured on holidays and unable to work or worse? Do you have the insurance in place to cover you? Call the office now on 02 6021 7000 to organise a complimentarty insurance needs analysis
New rules for Commonwealth Seniors Health Card!! Get your account-based pension in place before 1 January 2015 to preserve your benefits. The government is tightening the rules around the Commonwealth Seniors Health Card (CSHC). From 1 January 2015, the income from all new account-based pensions will be included in the CSHC income test. So if you haven’t set up an account-based pension yet, you need to move quickly before the New Year. And if you already have an account-based pension, it’s worth checking your arrangements so you can preserve your entitlements. Call the office on 02 6021 7000 to find out more.
The RBA drops rates to an unprecedented 2.25% Although a number of overseas commentators have suggested further rate cuts would fuel an already overheated Australian property sector, the RBA’s concerns over record high levels of household debt have seemingly forced their hand, as the banking regulator drops the official cash rate to an unprecedented 2.25% at today’s meeting. We expect the banks to start passing on these cuts in the next few days. As always, great news for home (debt) owners, not so great for those with money in the bank!
RBA has announced they are leaving the cash rate on hold for another month at 2.5%. This is the thirteenth consecutive month. Good news for mortgage holders. Not so good for savers.
Is holding property in a Self Managed Super Fund something that you want to do? Superannuation assets were up 11.5% in the last year and total assets now sit at $1.85T. Property leveraged to a 70% LVR and 5% capital growth would deliver 15% returns. At 10% capital growth, which was average across Australia, it would have delivered 30% returns. SMSF investors can still shine within the sector. If this is something you want to look at call the office on 02 6021 7000 to speak to Peter or Sarah about this today.
If you had $100,000 what would you spend it on? Going back to school, buying a business, travel?
The RBA leaves the cash rate @ 2.50% Despite economic commentators urging the RBA to seriously consider a further cut to the already historically low 2.50% cash rate, the decision has been made today to maintain the current status quo.
There is 18 billion dollars sitting in lost super funds. We can help you find yours. Call us on 02 6021 7000 to find out how.
Fun Fact: In the space of less than a year between 2008 and 2009 the Reserve Bank of Australia cut interest rates 6 times!!! From 7.25% to 3.00%
A new study shows that 85% of Australians are ahead on their home loan repayments. Only 14% of that being First Home buyers. Do you pay extra off your home loan?
The banking world is a buzz! Yesterday CBA announced a 5year fixed term under 5%!!! Have you ever seen interest rates this low? All of the banks are now following suit. I'm receiving some ripper rates through on email. If you are considering locking in your home loan or refinancing then now is a perfect time. Call us on 6021 7000
Buying an investment property is a financial decision not an emotional one. How do you know if your investment property is a SMART financial decision? You come see us of course
The Reserve Bank has again left the interest rate on hold at 2.5%. Have you locked in your mortgage recently?
Congratulations! You have received an automatic pay rise as of today. The Super Guarantee (the money your employer pays into your superfund) has gone up from 9.25% to 9.5% as of 1 July 2014. Pat yourself on the back for the easiest pay rise you've ever got.
Some great Insights for Investors from Morgan Housel I've learnt that there's no such thing as a normal market or a normal economy. Some people spend their lives "waiting for things to get back to normal" without realising that stocks and the economy are always in some state of craziness. I've learnt that a willingness to wait longer than other people is your biggest natural edge. If you can think about the next five years while everyone else is fixated on the next five months, you have an advantage that makes high-frequency trading, insider tips, and corporate loopholes look like a joke. I've learnt that what looks like tomorrow's biggest threat almost never is. Most of what people worried about over the last five years -- inflation, rising interest rates, a double-dip recession, stagnant markets, Greece leaving the euro, a government default -- never occurred. The biggest actual risk for most of us was something few talked about: excessive pessimism. I've learnt that those who think "it's different this time" are the four most dangerous words are wrong. It is always different this time, as no two recessions, recoveries, or market cycles are alike. What's dangerous is assuming the future will perfectly resemble the past. I've learnt that how you reacted to past bubbles is a good indication of how you'll act to future ones. The same people buying dot-com stocks in 1999 were buying Miami condos in 2006 and gold in 2011.
PY Financial Services has been servicing the Albury region for over 30 years.
Our vision is to provide strategies that will help create the life you imagine for yourself.
This means an individual solution tailored specifically for you, based on how you see your future.