From 1 July 2022 a number of changes will occur to superannuation, many of which were announced back in the May 2021 Federal Budget.
Key takeaways
It’s important to remember that interest rate increases are gradual, and while uncomfortable now, they will help to control rising inflation
Interest rate rises can affect your super balance depending on how your retirement savings are being invested
When reviewing your finances, consider building a buffer for further rate increases that might affect your mortgage repayments and speak to a financial adviser.
When was your last health check?
An unintended consequence of COVID-19 has been that health prevention has taken a back seat for many of us. According to a global health study by PWC, 32% of people reported a delay in preventative visits due to COVID-19.
It’s time to put our health first. The saying ‘prevention is better than cure’ has been around since the 17th and possibly 13th century according to Oxford and it’s still a fundamental principle of modern health care today. It is better to stop an illness from occurring than it is to treat it after it has happened. It is also cheaper too.