How do you do Christmas?

Posted on 22/11/2016 by daniel-admin

Christmas is an expensive time of year; it can be difficult to find the extra cash to pay for all those presents, the Christmas feast and travelling to see family and friends.

We took to the streets to find out how busy Melburnians (and some happy tourists!) celebrate Christmas, and what they’d do if they were treated to some extra spending money this festive season.

Fancy a cash windfall yourself?

Transfer your investment property into our management – or refer a friend to do so – and we’ll say thanks with a handy little Christmas bonus.

Find out more

A generational shift

Posted on 06/11/2016 by daniel-admin

Of course the world is changing.

It’s getting younger, or is it because I am getting older?

Well it could be a bit of both, but one thing for certain is the changes that are happening in regard to age and financial services. The proliferation of information and encouragement in the new age of technology and communications is driving younger and younger individuals to consider – and to take action in regard to – their financial wellbeing with the aim of becoming financially independent.

Anecdotally, we can say we have hundreds of young clients wishing to establish themselves. Many of them realise that marrying and having children later – and many more these days determining to stay single – has changed the ‘financial establishment’ starting point. They must start now.

Also the number of Gen Ys travelling the world for their careers means it is not a matter of waiting to ‘settle down’ and then starting.

An article recently published by BT made the point that compared to only three years ago, the age of individuals establishing self-managed superannuation funds has reduced by four years.

For many of our young clients whom may be first home buyers, they may be building their superannuation fund, or wish to utilise their incomes by gearing their investment portfolios and receiving substantial tax credits, the earlier they start the better.

It is our experience that the world of young Australians is well aware of the importance of acting early.

In the same vein, it is a pleasure to recount to you that there are now basically four generations in our organisation, The Hopkins Group.

There is Michael Williams, my business partner and our Managing Director, we have that group that have been with us for 10 – 15 years and we have successful graduate and intern programs that are nurturing and developing a developing a millennial generation.

Yes, we have existed 36 years and we have “the aged” like me and Stephen Phillips but is exciting to see our young professionals working to satisfy the younger generations of Australia with professionalism, enthusiasm and educated advice.

Footy finals fever hits The Hopkins Group!

Posted on 28/09/2016 by daniel-admin

We can’t help but get caught up in footy finals fever this week. Where do your loyalties lie?

We put the hard questions to our staff . . .

New Years Resolutions: Six Months Later

Posted on 30/06/2016 by daniel-admin

At the start of 2016 we asked a number of our staff about their new year’s resolutions.

The first day of July marks the halfway point of 2016 and the beginning of the new financial year. We caught up with our staff to see how their new year’s resolutions are coming along.

Zika Virus – What’s the Buzz?

Posted on 14/02/2016 by daniel-admin

If you’ve read the paper, watched television or consumed any social media in recent weeks, chances are you would have heard of the Zika virus (ZIKV) and its fast growing spread across the world.

But how does the heightened awareness of the Zika virus relate back to financial wellbeing? And why are we writing a blog post on it? Well, allow us to present some facts and figures within this article to point out the relevance of this current affair and its link to your financial security – more specifically, insurance.

What is it?

Since 2015, the Zika virus has spread rapidly to a number of countries, particularly in the Americas. It is known to be transmitted by mosquitoes and people planning travel around the world are advised to check whether the country they are planning to visit has active Zika virus transmission.

Most infected people have no symptoms or experience only a mild illness but the virus has been linked to microcephaly, a neurological disorder in which infants are born with undersized heads.

Key facts

A mosquito-borne disease
Transmission has been confirmed by various scenarios. Predominantly by the bite.
Usually no symptoms
One in every five cases, infection causes an illness with fever, rash, conjunctivitis, severe headache and muscle pain
Transmission of the virus is usually not severe or require hospitalisation
Outbreaks have been reported in tropical Africa, Southeast Asia and the Pacific Islands
All cases in Australia have been a result from travelling overseas
No specific treatment or vaccine currently available
Best form of prevention is of course avoiding being bitten by mosquitoes in impacted countries
Pregnant women who get ZIKV, may have birth defects in their offspring, including a serious condition known as microcephaly. Studies on this are required and evolving.

Zika virus infection is diagnosed through:

medical history, including a travel history to look for any exposure in a country with active Zika transmission in the two weeks prior to illness
physical examination, to look for evidence of the infection
blood tests

Is it in Australia?

Currently, 23 cases have already been identified in Australia. The World Health Organisation has officially declared this virus as a world health emergency.

Recent news stories have reported that while people have tested positive for the Zika virus in Australia, there was no risk to the public as the virus was not be transmitted person to person and was not present in Australian mosquitoes.

A recent ninemsn article confirmed the breed of mosquito capable of carrying the Zika virus has been found at Brisbane’s international airport seven times in the past year.

But what’s the link to my financial wellbeing?

Given this virus is all over the news, we thought it would be a good idea to investigate how it is relevant to one’s insurances. Basically, we expect that through the insurance application process, insurers will increase questions surrounding your previous or intended travel and any potential relationship or links to this virus.

Should the unthinkable happen and your or a member of your family get struck down by this virus, you need to make sure you have appropriate insurance in place to cover all sorts of outcomes.

Why is it important to review my insurance now – Including Child Trauma cover?

This virus has the potential to increase liabilities on insurer’s books, specifically for claims pertaining to consequences of contracting the virus and more specifically if your offspring is affected by microcephaly.

Insurance has always been an important part of client’s long term financial wellbeing, however more specifically, Child Trauma cover has never been so important with many consumers unaware of its existence.

The cover provides financial support should the unforeseen happen to your children and most importantly, it helps with any financial stress, to provide choices to aid in your child’s recovery.

Many insurance providers include child cover options allowing cover for children to be added to any Death, TPD, or Trauma cover taken out by the parent(s).

What does it mean?

If either you or your partner become exposed and this exposure is evidenced through your medical history, the policy terms offered to you may include an exclusion.

What next?

For the most up to date information on countries experiencing active Zika virus transmission, stay tuned to the Department of Foreign Affairs and Trade Smartraveller website.

In terms of making sure you and your family are protected or to check the clauses in your own insurance policy, contact your Financial Planner to discuss your personal insurance plan.

References

Sharing is caring | 2016 New Year’s Resolutions

Posted on 07/01/2016 by daniel-admin

Once the dust settles from Christmas and we settle back in to work, study and the daily grind, our thoughts inevitably go to what lies ahead.

For some, the coming twelve months promise to deliver significant events and milestones to look forward to, but for others, the new year provides an opportunity to focus on smaller achievements and starting the year on the right foot.

Whether they are finance, fitness, travel, career or relationship focused, goals are best realised when said out loud. By sharing your goals or New Year’s resolutions with others, you have a much better chance of achieving them. Friends, family and colleagues can hold you accountable and check on your progress to keep you on track. Pride can kick in and you’ll want to achieve so as not to have egg on your face at the end of the year when it comes time to review!

It’s also important to set SMART goals – specific, measurable, attainable, relevant and time bound. When you follow this framework, you’ll find it easier to tackle your goals and keep an eye on your progress. And make sure you have a good balance between long term and short term goals, you need to be able to see progress and tick things off your list to keep you motivated for the bigger goals. It also helps to vary the themes – don’t only focus on your finances. Challenge yourself socially and physically and this will keep you interested and engaged. There’s nothing like conquering a soufflé to feel accomplished and clever!

We asked around The Hopkins Group office to find out what our team members are focusing on in 2016, and also if they had any tips to share – both professionally and personally – to help others on their journey this year.

Samandah Matty, Property Manager

To actually use my gym membership more than once a week!
Spend more time at home with my family.
To travel to Europe! (But I need to have leave approved first . . . Lorena!?)
To stop eating all the biscuits in the kitchen at work!

Abigail Lee, Graduate Accountant

Donate more to charity – I have always donated to charity and have volunteered for the leukaemia foundation, this year I want to do a little more for those that need it.
As I am marrying a Dutch man I will be taking on lessons this year to learn how to speak Dutch.
I want to finish what I start – I always get excited about new projects but tend to never finish… So this year I plan to finish everything I currently have started before taking on anything new.
Be more organised – I feel I am normally an organised person, but with family coming from overseas, a wedding and a trip to Europe to plan, I think I need to up my game.

Charmaine Offer, Office Assistant and Personal Assistant

I’m doing no chocolate for a month which includes my love, Nutella. I have a massive tub with my name on it on my bedside table waiting to be used!
The Herbalife one month challenge – clean eating for the month!
The 52 Week Saving Challenge where you put away that week’s number in cash i.e. if it was Week 23, that week I must put away $23. By the end of the year I hope to have saved $1378.

Pip Middleton, HR Coordinator

My goals for this year are pretty, um, not sure the word… I don’t think they are deep, but they’re things I know I’ve struggled with and now that I’m having a baby, I think that I would like to work towards achieving them in order to (hopefully) influence my own little girl!

Patience: I sometimes struggle when things aren’t done my way and on my time frames. Be better at accepting (and even embracing!) a lack of control!
Love myself a little more: I’m not good at believing I’m good at much, so I want to try change that and not beat myself up if I make mistakes. This one is not just related to motherhood. I want to be a good mum by doing the right things, but more than that, I want my kid/s and those around me to see that it’s ok to not be good at things or perfect: there’s no harm in that and it’s not a reason to be down on yourself!

Editor’s note: On a less serious note, Pip also provided a list of hilarious New Year’s Resolutions that were too good not to share.

Look to Kanye for inspiration on how to love myself a little more. NB. However, I am fully cognisant that I would make a terrible leader of our country and therefore will not aspire to such ridiculous ideas of grandeur.
Not call my daughter Saint Middleton. See above ‘Kanye’ for reason (if you need a reason to not call a child Saint).
Not leave my daughter in a coffee shop like I regularly do with my mobile and sunnies. Probably should have put this as Priority 1…
Not allow Bradley Cooper to fall in love with me: so far so good for 2016, but I think this one will be a struggle.
Not get annoyed when my mum asks me (again) what her wifi password is. 1. I don’t know it, and 2. It’s set up to auto connect.
Passwords: Branch out and add a second password to my world.

Brian Godfrey, Finance and Mortgage Adviser

Visit Berlin
I committed to only buying three ties this year
Dine in a different Yarra Valley winery every ten weeks
Definitely time to build up my repertoire and expand from my one chicken curry dish

Nicholas Siemensma, Paraplanner

Only buy something with a note. All the coins you get as change, put into a money box. I find it works well because a) it’s a good way to save all that annoying change; and b) having to break a note to buy something small like a chocolate bar or something will make you less likely to do it!

Durham Kenigsvalds, Group Financial Controller

Clearing the clutter! I’ve started with my desk at work and plan to keep it tidy for the rest of the year

We’ll check in with our staff throughout the year to see if they’re on track to realising their goals for 2016, but in the meantime, we encourage you to put pen to paper and actually set out some plans for yourself this year.

While we can’t snatch a Tim Tam from your grasp or take out a restraining order on Bradley Cooper (sorry Pip!), we can help you with your financial planning and investment goals. Call 1300 726 082 to book in with one of our Financial Advisers who can help map out your financial future for 2016 and beyond.

Strike while the iron is hot! It’ll be Easter before we know it . . .

All I Want for Christmas is to Stay out of Debt

Posted on 16/12/2015 by daniel-admin

Merry Christmas and Happy New Year!

With Christmas rapidly approaching, now is the time to set your Christmas spending plan in motion.

There are some simple rules to follow to avoid unwanted January debt. Most of us know them, yet how well do we implement them?

Avoid Impulsive Buying

Write a list. Know who you need to buy for and set limits on how much you will spend for each person. Stick to this limit.

“The closer it gets to Christmas, the more likely you are to panic buy and break your budget,” says ME Bank spokesperson Rebecca James.

Plan to shop ahead of time to avoid putting too many purchases on the credit card at the last minute.

Do some research before going to the shopping centre by going online and comparing prices.

Be in Control of Your Credit Card

The Retail Council Christmas Spending Index for 2015 is forecasting that “Nationally $35 billion is expected to be spent in the lead up to Christmas”.

Credit cards make it too easy to spend money. Only spend money that you know you can afford to pay back by the time the interest free period runs out on your credit card.

With an average credit card interest rate around 17% that thought alone should deter you from overspending on the plastic. Credit card interest rates are more than nearly four times the interest rates of some mortgages.

Don’t kid yourself by sharing the spend over multiple cards. Consider using only one card as it is a lot easier to keep track of what you have spent when it’s all on the one bill.

Use Software to Track Your Expenses

If you have been unsuccessful at sticking to a budget in the past, take advantage of free software to track your expenses.

The MoneySmart website features an application called TrackMySPEND which tracks your spending and allows you to set a limit. It can be downloaded to your smart phone so you can monitor your spending on the go and keep track of every single purchase.

During this festive season it is easy to overspend. Remember;

If you fail to plan; then you plan to fail.

Speaking of planning, if you would like some help developing your financial plan for 2016, why not give us a call on 1300 726 082? Our financial planning team is here to help. We can discuss your current situation, and look what you want to achieve, both now and in the future. It’s never too early to start planning for next Christmas and I look forward to the opportunity to help you reach your financial goals.

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Disclaimer: John Hopkins Financial Services Pty Ltd are Representatives of WealthSure Financial Services Pty Ltd Level 1 190 Stirling Street PERTH WA 6000 ACN:130 288 578 AFSL: 326450.

General Advice Warning: This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial advice prior to acting on this information.

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