When you visit a bank to discuss your borrowing arrangements you will almost certainly be exposed to a marketing opportunity about your super, insurance and seeing a bank financial planner. It is a discussion you should think very carefully about.
Certainly have a listen to what they have to say, but then do your own research and seek a second opinion before making any final decisions from a financial planner who does not accept commissions. Insurance premiums, for example are up to 30% cheaper if commissions are fully rebated.
Home loan interest rates are currently at historic lows. A common question currently being asked is whether it is better to keep making additional repayments to a home loan or to reduce those payments and invest the additional payments elsewhere?
While the correct answer to this question depends on a number of variables, it is a great question to be thinking about.
From our experience, many people make little investment mistakes on a regular basis and over time this erodes their financial position. Don’t let this happen to you!!
If you have an investment that was in place prior to 30 June 2013, it is highly likely that someone is still being paid a commission or other incentive payment. This could be considered a failure of the new superannuation commission laws.
The information via the link below might surprise you with a story of reasonably spectacular long term investment returns from share markets in the past. The trouble is that most investors never receive returns like these because of high fees, commissions and other incentive payments.