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Turning 30 is often accompanied by a degree of increased financial responsibility. It’s an important milestone that generally means you have a little more financial experience under your belt. If you’re lucky, you’ve earnt your money a few different ways and probably even found more ways to spend it. So, how can your 30 something self be in the best position financially? Here are three money saving mantras to get you started. Remember your super is super While superannuation and retirement savings might sound uninteresting because you can’t touch it, it’s important to remember your super is “real money” and it’s yours! Investment earnings within super are concessionally taxed at a maximum rate of 15%, which may be lower than the tax you pay on investment earnings outside of super. This may mean more goes toward your future than if you were to invest outside of super.1 Generally, employers are required to contribute 11.5% of your ordinary salary and wages into a super fund on your behalf. If you are employed or self employed you can also choose to contribute extra amounts into your super via salary sacrifice, personal deductible contributions or after tax contributions, depending on your eligibility and caps on the amount you can contribute. If you are in your 30s you currently have to wait until your 60s before you can access any amount you have saved or contributed to super, however this presents a real opportunity to set things on the right course now to allow your savings to grow into the future. Most individuals can choose the super fund they want their super contributions paid into – and you can also choose how it’s invested. If you’re not sure how your super is currently invested, check your latest member statement or login to your super account online. Don’t forget to safeguard your assets Your 30s often bring with it the added responsibility of dependants such as a partner or family who can be reliant on you and what you bring to the household financially. So if you have people in your life who rely on you financially, it’s important to consider how they would cope if something unexpected were to happen you. Meeting household living expenses, mortgage or rent payments, plus increased care and medical costs may become more difficult without your ability to earn an income. There are four main types of insurance which can help protect you and your dependents in these circumstances. Life cover, total and permanent disablement cover (TPD), trauma cover and income protection insurance. Life, TPD and trauma cover all pay a lump sum amount if you suffer an illness or injury and the insurance conditions have been met. Income protection insurance generally replaces a percentage of your insured income in the event you meet the insurance definition of being unable to work due to illness or injury. In certain cases you can look to hold some of these insurances through super which can be both a cost and tax effective strategy. However, keep in mind your super balance would be used to fund your insurance premiums, which would generally result in a reduced accumulated balance overtime. Spend less than you earn The first steps to improving your financial position and increasing your financial choice and autonomy is to make sure you’re not spending every dollar you earn. While it sounds pretty simple, putting aside a small amount on a regular basis could make all difference over the longer term. It’s good to start saving a percentage of your income to provide you with a safety net if something unexpected crops up – such as taking time off work, protecting yourself from increased expenses such as interest rate rises, or meeting unexpected health or medical expenses. And finally … Don’t forget to take the time and do your research so you can make informed decisions around your goals and objectives. You might also consider speaking to a financial adviser if you think you need a hand to make any decisions with confidence to make sure you move forward financially. Australian Government Australian Securities & Investments Commission. “Tax & Super”. ASIC’s MoneySmart, 1 July 2021, www.moneysmart.gov.au/​superannuation-and-retirement/​how-super-works/​tax-and-super. Source: BT

Private credit is increasingly popular with investors but do you really understand what you’re buying? A boom in private credit demand as investors chase higher yields and portfolio diversification is raising concerns around how asset managers are handling valuations, fees and transparency. The fast growing Australian private credit market is estimated to be worth some $40 billion, prompting scrutiny from the Australian Securities and Investments Commission (ASIC) amid concerns that some private credit investments remain untested in market stress scenarios. It’s important for investors to get ahead of any regulatory changes and do their own due diligence on their private credit investments to ensure they capture the attractive returns offered by private credit without taking on unnecessary risk. It is important for investors to be asking questions. It’s only when there is real market distress that it will really become an issue – but it’s something many investors haven’t been thinking about and probably should, ahead of that time. Transparency, valuation ASIC is seeking feedback on how private markets should be regulated, noting concerns about transparency, valuation of illiquid assets and how managers are dealing with potential conflicts of interest. Traditionally the preserve of institutional investors, who are presumed to be better placed to look after their own interests than retail investors, private credit is increasingly popular among retail investors through managed funds and superannuation. Valuation questions Investors should look closely at their private credit exposure to understand how their manager is handling valuation, fee structures, credit ratings and potential risks that may not be immediately apparent. There is evidence of managers leaving asset valuations unchanged despite broader market downturns – with some managers leaving asset values at par even during periods of extreme dislocation like the pandemic. The question to ask is: are your assets marked to market? When assets become impaired, are you marking them down to reflect that? This is the kind of thing that’s fine until it’s not. Failing to appropriately mark down distressed loans can pose even greater risks for investors if managers are perceived to be hiding losses. This is important for investors. – If they are marking them above what they could actually sell them for, then managers create a risk of creating a run on the fund. If they are marked too high and there’s questions around that, then the investors that are out of the door first will get a good price – but eventually, they will have to gate the fund because those aren’t really the true values. You want people to have liquidity, but to not disadvantage investors that are staying in the fund. Credit ratings Some managers use self estimated credit ratings instead of independent ratings from agencies like S&P or Moody’s. That’s a bit like marking your own homework – saying ‘we like this deal, so of course it’s investment grade’. They generally get auditor sign off, but don’t really push back on those in the way you would if it was done by a proper rating house. Conflicts of interest Investors also need to watch out for conflicts of interest that can distort investment decisions away from the best interests of investors. Some private credit managers retain a proportion of the upfront fee typically paid by borrowers to secure financing, rather than leaving it within the fund. This can create conflicted incentives, as it may encourage the manager to prioritise deals with higher upfront fees over those with the best long-term risk return for investors. You don’t want investors going for deals just because they have the highest upfront fees. It’s best practice to have a flat management fee, so you’re aligned to investor outcomes. Source: Perpetual

Scammers are constantly looking for new ways to part you from your hard earned cash. That’s why it’s so important to stay a few steps ahead when it comes to protecting your money. Losing money to fraud can have a big effect on someone’s life – it can be draining for your mental health and wellbeing, as much as your financial circumstances. So stay a step ahead of the scammers by being aware of the common tactics that scammers use and taking some simple measures to keep your money safe. Australians lost more than $2 billion to scams in 2024. While investment scams contributed the lion’s share of that, at $945 million, the good news is that was 27% less than the previous year, so the trend is heading in the right direction*. New types of scams emerge regularly Investment scams may have resulted in significant total losses but other common types of fraudulent activity included romance scams, payment redirection, remote access and phishing – where a scammer sends messages pretending to be from a reputable firm or a government service to obtain personal information. Scams involving crypto ATMs, SIM swapping and compromised business email addresses have also been on the rise in recent months. Here’s what to look out for. Crypto ATMs: know where your money is going There are now more than 1,100 crypto ATMs in Australia^, which allow people to buy or sell cryptocurrencies, such as Bitcoin, using cash or debit cards. Reports of crypto ATMs being used to transfer funds to scammers have risen internationally and in Australia in recent years, with older investors three times more likely to be affected. In many cases, the scammer impersonates a government or business. The intended victim may be provided with a code to deposit funds to a Bitcoin wallet. However, crypto ATMs don’t offer a way to verify who that wallet belongs to, leaving people vulnerable to making deposits into a fraudulent account. Cryptocurrency transactions cannot be reversed, so if you’re using a crypto ATM to buy or deposit cryptocurrency, make sure you use an address or account that you control. SIM swapping: watch for sudden loss of network SIM swapping may involve a scammer tricking a mobile phone carrier into believing the intended victim has lost their phone. If the mobile carrier transfers the personal information associated with that person’s SIM card to a new number, this gives the scammer access to text messages that may enable them to access one time pin codes sent by SMS that are intended to verify the victim’s identity. Signs of SIM jacking include a sudden loss of access to the network – for example, when an SOS message appears at the top of your screen, a phone that stops working or receiving a message stating a mobile number is about to be swapped to a new one.   It may be possible to set up a special PIN with your mobile carrier to avoid unauthorised SIM swapping. Business email compromise scams: impersonating real emails In these scams, criminals impersonate legitimate businesses. They send fraudulent emails to trick victims into transferring funds to scammers’ bank accounts. They may alter email addresses to closely resemble legitimate ones or they may use compromised accounts to make the messages look authentic. In property and real estate transactions, this may involve inserting false bank details for settlement payments, causing victims to unknowingly transfer money to the wrong account. Ten ways to guard against fraud There will always be scammers out there, but just as you might lock your front door when leaving the house, here are some simple measures you can take to help keep their sticky fingers off your finances in 2025. Update your sensitive passwords regularly Ensure that the passwords for your MyGov, bank and your email accounts are strong and unique – and change them every three months at least. 2. Enable multi-factor authentication Multi-factor authentication strengthens security by requiring you to verify your identity through multiple methods, which may include something you know (like a password), something you have (like a phone or hardware token) and something you are (like a fingerprint or facial recognition). This makes it much harder for scammers to gain access to your money. 3. Conduct a digital cleanse Regularly remove old or sensitive files and emails from your computer and email accounts so that information can’t be accessed by an unauthorised user. 4. Install a password manager A password manager securely stores your passwords and can generate strong, unique passwords for each of your accounts. 5. Install Internet security apps Protect your mobile and computer with Internet security apps, such as anti-malware and antivirus software, which can detect and block malicious activities. 6. Guard against physical access Shred any personal documents you no longer need and secure your mailbox with a lock to stop identity thieves from accessing sensitive information in discarded documents or stolen mail. Sign up to a credit bureau Monitoring your credit profile can help you spot signs of identity theft early. Consider placing a freeze or proactive alert on your profile to prevent fraudsters from opening accounts in your name. 8. Avoid clicking on links Always manually enter business websites and phone numbers from their official websites to reduce your risk of falling victim to phishing scams. 9. Pause before you act  Take a moment to verify the legitimacy of any urgent requests. Use the Australian Securities and Investment Commission (ASIC) scam register or Scamwatch to check if you could be the target of a known scam. Scammers often use urgency to pressure people into making hasty decisions. 10. Don’t offer easy access  Public Wi-Fi networks are often insecure, so don’t use them for sensitive transactions and always log out of browser windows on your devices when you are finished. Following these tips can help you outwit online scammers and provide peace of mind that you’re taking every reasonable step to safeguard your savings and investments. * Targeting scams. Report of the National Anti-Scam Centre on … Read more

Imagine finding thousands in super that you’ve lost track of. Here’s how you can check if you have any lost or unclaimed super. There are over seven million lost and Australian Taxation Office (ATO) super accounts with a total value of $17.8 billion1 – a share of this could be yours. Don’t miss out on super you’ve earned! It’s easy to lose track of your super when you move or change jobs. However, it’s easy to find it and takes less than 10 minutes. Check with the ATO within myGov. This will allow you to see details of all your super accounts, including any you’ve lost or forgotten about and find any ATO held super – this is held on your behalf when your super fund, your employer or the government can’t find an account to deposit your super into. If you’ve recently opened a new super account, it may take up to six months to appear on MyGov. You can also find lost super using a paper form. See searching for lost super on the ATO website. Combining your lost super accounts There are many benefits to combining all your lost super and money with other super funds into one account. Simpler fees: having your super in one account means only one set of fees. Easier to manage: one place for contributions, paperwork and investing your super. Avoid extra insurance costs: only one set of premiums if you have insurance with multiple funds. If you are considering combining your super accounts, weigh up the benefits and features of each of super fund and make sure you understand any benefits that you have which may be lost before you roll over any monies. Don’t forget your insurance. One or more of your funds may include insurance. Any insurance you have will be lost if you close your account. So, before you roll over any monies, make sure you have the appropriate levels of insurance cover. How to prevent any lost super in the future When you start a new job, tell your employer your super details so you know where your super is going. If you don’t let them know, they have to ask the ATO where your stapled super fund is. Make sure you update your contact details with your super fund whenever you move house or change your phone number/email. And if you combine all your super into one account, you only have one account to keep track of. 1ATO: Total lost and ATO held super as at 30 June 2024 https://www.ato.gov.au/about-ato/research-and-statistics/in-detail/super-statistics/super-accounts-data/super-data-lost-unclaimed-multiple-accounts-and-consolidations/total-lost-fund-held-and-ato-held-super. Source: MLC  

Generally, you can, but there may be other things to consider. When you access your super at retirement, depending on your age and personal circumstances, your super fund may ask you to sign a declaration stating you intend to never return to work again. However, there could be compelling reasons as to why you might go back in the future. Figures from the Australian Bureau of Statistics reveal financial necessity and boredom are the most common factors prompting retirees back into full or part-time employment1. Whatever your motivations might be, if it’s something you’re considering, there are things you should be aware of. What is your situation? I reached my preservation age and declared retirement If you reached your preservation age and declared you’d permanently retired, this would typically have given you unlimited access to your super. Your intention to retire must have been genuine at the time, which is why your super fund may have asked you to sign a declaration stating your intent. Depending on your circumstances, you also may be required to prove your intention to retire was genuine to the Australian Taxation Office. I stopped an employment arrangement after I turned 60 From age 60, you can stop an employment arrangement and don’t have to make any declaration about your retirement or future employment intentions, while gaining full access to your super. If you’re in this situation, as there was no requirement for you to declare your retirement permanently, you can return to work without any issues. I’m aged 65 or older When you turn 65, you don’t have to be retired or satisfy any special conditions to get unlimited access to your super savings, so regardless of whether you’re accessing super or not, you can return to work if you choose to. What happens to your super if you return to work? Regardless of which group (above) you fall into, you may have taken your super as a lump sum, income stream or potentially even a bit of both. If you chose to withdraw a regular income stream from your super savings and are wondering whether you can continue to access these periodic payments, the answer is yes you can – and that’s irrespective of whether you return to full or part-time work. What are the rules around future super contributions? Unless you plan on being self employed and paying your own super, your employer is required to make super contributions to a fund on your behalf at the rate of 11.5% of your earnings. This means you can continue to build your retirement savings via compulsory contributions paid by your employer and/or voluntary contributions you make yourself. Note, once you reach age 75, you’re generally ineligible to make voluntary contributions (unless they’re downsizer contributions), while compulsory contributions paid by an employer under the super guarantee (if you’re an employee) can still be paid no matter how old you are. Could returning to work affect your age pension? If you’re receiving a full or part age pension from the Government, you’d be aware that Centrelink applies an income test and an assets test to determine how much you get paid. Your super, as well as any new employment income will be considered as part of this assessment, so make sure you’re aware of whether earnings from returning to work could impact your age pension entitlements. If you’re eligible, the Work Bonus scheme reduces the amount of employment income or eligible self employment income, which Centrelink applies to your rate of age pension entitlement under the income test. Where can you go if you need a bit of help? For information and tips around re-entering the workforce, check out the Department of Employment and Workplace Relations website, which includes a Mature Age Hub, as well as details around the government’s New Business Assistance for those looking to become self employed. There are also websites like Older Workers and Seeking Seniors, which focus specifically on mature age candidates. If you have further questions on how a return to work could impact you, speak to your financial adviser. 1 ABS – Retirement and Retirement Intentions, Australia Source: AMP