BD Financial Planning now has a Sydney Office and is ready for business. Situated at Level 26, 1 Bligh Street, Sydney in the CBD, we are looking forward to meeting with our Sydney based clients. It has a great coffee shop on the ground floor and I can be easily tempted! Please call us on either (02) 8226 8763 or at the Erina office (02) 4365 0377 to schedule a meeting or review. Or coffee.

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Sometimes circumstances can change beyond your control. I am sorry for the unnecessary letters recently outlining the change of dealer group. This was not expected, however when the facts change, I change my mind. The good news is that all is well – Solar is independently owned and does not dictate the strategy or advice for clients. This is a good change in a rapidly changing landscape.

 

 

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I had promised myself that I was not going to make any political comment on the current shenanigans being reported regarding superannuation until the actual policy was announced.  Ok, I can’t stand it anymore. Let’s get a few things clear – both sides are playing serious political silly buggers in what seems like the political twilight zone.

Fact: Our superannuation policy is the envy of much of the western world.

Fact: It is a significant and integral part of affordability of welfare for the largest population ‘hump’ in Australia. The baby boomers.

Fact: We don’t have a deficit ‘problem’ – we have a political problem.

Even the ‘young movers’ in the political space such as GetUp! are well intended, but their comments and advertising are wildly naive.

 

 

 

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I am continually gobsmacked at the nonsense being sprouted by both major parties.  There are smart people and smart advisers but they seem to be silent in this twilight zone. The reality is that we have a system that is based on long term saving and long term investing. We also have a significant saving shortfall for retirement funding as most people didn’t start saving for this until the early 1990’s.  That is why there has been encouragement in the way of legislation for us to save some additional funds for our retirement. What is the alternative? More reliance on Social Security? Not a good option for long term government funding. 

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In the current political climate – who knows!  The numbers being quoted for ‘tax subsidies’ for superannuation would not simply become income if subsidies were to be changed.  This is Economics 101. Clients will adapt to the rules and the legislation that are in force. If the legislation changes – the strategy changes. There are many, many opportunities and these will simply become more favoured in any wealth creation strategy. Negative gearing would become more popular into equities, property or commercial property and suddenly the ‘saving’ would disappear. The pollies know it, their advisers certainly now it, you and I know it, but they keep on spouting something else… 

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Legislative change is a real and current risk. Every time there is change there is opportunity as the risk/return ratio can change. Whatever the legislative changes that may – or may not – be introduced, BD Financial Planning will consider any changes, how they may impact clients and will give a summary of the consequences together with how we will deal with them.


I can hardly wait for budget night!

If you would like to discuss any of these issues, please give us a call.

Regards
Brett Dillon  CFP

 

 

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