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You probably have a good idea of who you’d like to give your hard earned assets to when you’re gone. Making a Will can help ensure your assets are distributed the way you want. Many people see making a Will as something to do when they have children or other dependents to worry about. After all, they want to make sure that in the worst case scenario, their loved ones are well cared for. But what if that isn’t your life? What if you are single or if you are in a relationship that may not be classified as de facto or a spouse relationship? Do you still need a Will and what should it look like? Where there’s a Will, there’s a way A Will is a legal document setting out your wishes for the distribution of your assets after you die and who you would like to be responsible for carrying out your wishes. Typically, it needs to be a written document which you’ve signed, had witnessed by two people; and you need to be aged over 18 years old and considered to have the mental capacity to understand what you are doing for it to be considered valid. You should check whether your state or territory has any specific additional requirements to be valid. You can write a Will yourself using a kit – you can find a range online varying in price or use a solicitor. Bear in mind, just because you’ve written a Will and had it witnessed, doesn’t guarantee that it will be considered a valid document if it doesn’t meet legal requirements. Given the complexities, speaking to a solicitor may be helpful to ensure that your Will meets the necessary criteria to be considered valid and that you’ve accounted for everything you need to. No Will left behind The process and laws vary slightly from state to state if you die without leaving a Will (known as dying intestate). Typically, the Supreme Court appoints an administrator (often your next of kin) to arrange your funeral, collect your assets, establish a family tree using certificate evidence and distribute the assets across your next of kin after paying any debts and taxes. Your assets are distributed across your next of kin based on a specific formula. If you don’t have a legally recognised partner or any children, the order of priority is usually your parents, your siblings (or their children), grandparents, aunts and uncles, and then first cousins. In some instances, others can lay claim to your assets. For example, if you regularly volunteered at a charity or regularly donated, they may be able to petition the court for a portion of your estate. 3 reasons to write a Will There are a number of reasons to write a Will. Choose where your assets go and who executes your Will Maybe you wanted your best friend to have your collection of art or your furniture go to a particular charity. Or you were happy to have your assets divided amongst family but wanted a cousin to inherit the bulk to help with their medical bills. If you leave it to the legal process, it’s less likely that any of these wishes will come to light unless your family specifically know of them and are happy to forgo their legally allocated shares to make it happen. Dying intestate (without a Will) also means a court appointed administrator for your assets and organising your funeral. When you have a legally binding Will, you can make sure the person organising your funeral and distributing your assets is someone you trust to carry out what you wanted. For example, you might feel a certain family member is better suited to the pressures of managing your estate than the person a court might choose to appoint. Or the relationship you have with a particular person may mean you feel they would better understand your wishes. Not having a Will at very least can delay the distribution of your estate, which could be difficult depending on costs that may be incurred from your death – such as the funeral. A clear picture of your assets This is something that can actually be useful to you right now. Taking the time to write a Will can help you get across all your assets and debts – ranging from finances and investments to physical possessions. Understanding the complete picture can help you plan ahead for your own life (not just your death) and also manage any areas which might be a concern for you, through a strategy. Part of this might also include considering how any debts you’ve accrued would be paid in the event of your death. Usually, your assets are used to pay any debts first, before being distributed to your beneficiaries. Depending on your debts, there might be proceeds left for your loved ones – or not. Any remaining debt after your assets have been used to cover debt does not pass onto your beneficiaries unless the debt is a joint one (in which case, the joint partner to the debt would have to manage it). A financial adviser can help you evaluate this and whether there are strategies, like life insurance, you could consider to manage your debts and keep your assets for beneficiaries. Lessen the stress for your loved ones A court process is stressful but then consider what it might be like combined with the pressures of grief. Making a legally binding Will can take some strain off your loved ones in a very difficult time for them – losing you. And it might give you the opportunity to offer some comfort beyond the grave where you’ve chosen to make certain bequests. However you choose to approach writing a Will, make sure it meets your hopes for distributing your assets and remember it’s okay to change your mind and write a new Will at any stage through your life. As part of this, don’t forget your … Read more

Living off the income from investments is a dream for many Australians. Along the way, passive income can help cover school fees, fund holidays or pay for life’s little luxuries. Whether you’re just starting out or looking to diversify, here are three ways to invest for passive income, for different levels of risk appetite, investment experience and investment timeframes. Dividend investing Investing in companies that pay dividends is one of the most popular ways to generate passive income. Dividends are regular payments made to shareholders as a way of letting them share in a company’s profits. These can be paid in cash or additional shares; and they can provide a steady income stream alongside potential capital growth or be reinvested to help compound growth over the long term. While dividends are by no means limited to Australian shares, companies listed on Australia’s share market have historically paid relatively high dividend yields compared with those listed on other share markets and are more likely to pay dividends that are ‘fully franked’^. Australian dividends have been trending lower but there’s also the return from share price growth to consider over the long term. When a dividend is ‘franked’, it means the company has already paid tax on those profits, which is then taken into account when determining your tax bill. A dividend yield, which is an indicator of the return a dividend offers, is calculated by dividing the annual dividend by the current share price. So a $2 dividend paid on a $40 share equals a 5% yield. Dividends are not guaranteed, but for the top 500 companies that make up the Australian Stock Exchange’s All Ordinaries index, the dividend yield has averaged just over 4% over the past 40 years or so#. For some companies, the dividend yield may be significantly higher than the average. But looking at yield alone can be risky, as yields tend to go up when share prices go down. Instead, many dividend investors look for companies with a history of growing dividends and the ability to keep doing so in the future based on strong financial health. Risk: High Investment horizon: 7+ years For beginners: Consider dividend focused exchange traded funds (ETFs). These funds invest in a basket of dividend paying companies, offering diversification and ease of access and may include ‘high yield’ options. For experienced investors: Explore dividend growth strategies targeting companies with rising earnings and a commitment to increasing dividends over time. Or look into actively managed portfolios that aim to deliver income above the ASX 200 index yield, while maximising franking credits. You may wish to consult a financial adviser to help you explore dividend investing. Property (direct or indirect) Property has long been a favourite among Australians seeking passive income. Traditionally, this has meant buying a house or unit and renting it out. Rental income can provide steady cash flow, rising property values may deliver capital gains over time and there may also be tax breaks available to property investors. However, direct ownership comes with risks including periods when a property may be vacant, maintenance costs, a relative lack of liquidity (meaning it can take time to sell for a fair cash value) and the potential for overextending on debt. That’s where indirect property investments come in. Real estate investment trusts (REITs), property funds and property ETFs allow you to invest in commercial or residential property without owning it outright. These options are typically more liquid and diversified, though they can be more volatile. It is easier to value listed property trusts or REITs, as you can see what each unit is worth and they are subject to market listing rules. Unlisted property schemes are not listed on any share markets, which can make it harder to track the value of your investment. The Moneysmart website offers a checklist for assessing the potential risks when it comes to investing in listed and unlisted property schemes. Risk: Medium to high Investment timeframe: 7+ years For beginners: Listed REITs and property ETFs offer exposure to a wide range of properties with lower upfront costs and easier access. For experienced investors: Unlisted property funds may provide more stable returns and less price volatility, though they often require longer investment horizons and higher minimum investments. Bonds and fixed income Bonds and fixed income investments offer a more secure path to passive income, which may be particularly attractive for investors who are focused on preserving capital. Unlike shares, which offer part ownership of a company, bonds and fixed income are essentially loans to governments or companies that pay regular interest and often return your capital at maturity. They offer a set rate of interest to be paid at set intervals over a fixed period. Payments of a fixed income security are known in advance and remain fixed throughout the term. Popular versions include government bonds, corporate bonds, debentures – which are assessed by the issuer’s creditworthiness rather than secured against assets, and capital notes, which are also unsecured and tend to offer a higher interest rate (but have a lower repayment priority should the issuer default). While it’s possible to buy bonds as an individual, minimum investment amounts may be high, so bonds are often invested in via managed investment funds (within a super fund or separately) or ETFs, which may track a portfolio of government or corporate bonds. They tend to move in the opposite direction to interest rates, so if interest rates are falling, existing bond prices are likely to rise, but the yield on bonds for new investors will fall. While bonds are considered a defensive or low risk investment type, bond prices can fluctuate and there is some risk of losing your investment – for example, if a company issuing a bond later fails. Bonds have offered higher returns of late, although this coincides with higher market volatility. For example, over the past year, global bonds provided a return of 5.5%* — well above their 10-year average return of 1.9%. Australian bonds returned 6.8% or more than three times their 10-year return of 2.1%*. Risk: Low Investment timeframe: Generally 1-3 … Read more

You might have a regular accountant you see at tax time who helps you sort out what you owe the government, or if you’re lucky, what the government owes you. Sometimes they will make recommendations on how to reduce your tax for the next year. However, for many, there is more that can be done to improve their financial position. And in many cases, this insight comes from a financial adviser. Many financial planning practices are now working with accountants, mortgage brokers, insurance professionals and in some cases, lawyers. Your adviser is still often your main contact in your financial matters but many have practices that act as a concierge service providing referrals to other professionals. As complexities arise in personal circumstances, your adviser is able to refer you to an aged care specialist if they don’t provide the service themselves or to a lawyer if your Will needs updating or you need a power of attorney or enduring power of attorney. If you’re going through a divorce or something complex, a whole team might be warranted, which may include a financial adviser, lawyer, accountant, counsellor, mediator and even mortgage broker or banker. Once you have a good adviser or other professional, it is likely that they can refer you to others who have similar styles and values. If you’re interested in seeing an adviser there are several ways to find one. One way is through LinkedIn, where many advisers promote their professional profiles. And personal recommendations from friends and family are always valuable. Make sure you’ve got the right team together to help you achieve the financial future you desire.   Source: Money and Life

Aged care made simple: what you need to know Navigating aged care can be quite a challenge, especially with the new rules that come into effect on November 1, 2025. If you were already in the system before entering care, you might still be eligible for the old rules to continue. It sounds complex because it is, but don’t worry, advisers can help you navigate the system. Before seeking any advice, here are some basic considerations you need to cover: What are you trying to achieve through the aged care you are seeking? Is the primary aim to give the person entering a facility their best future life? Is it to preserve assets while also securing retirement options? Or is it exploring all options and providing the family with the best financial outcome possible for all? Whether it’s a retirement village, apartment or care facility, moving out of an independent living arrangement comes with a cost. Retirement village costs For a retirement village, which provides accommodation in property where people just need to meet the age requirements (ranging from over 55 to over 70), the costs include the cost of the unit plus maintenance costs. When leaving the unit, a percentage each year or up to around 30 per cent is retained by the management – essentially the cost of the lifestyle provided. This may include a pool, entertainment areas, cafes/restaurants and exercise facilities. Aged care facility costs For an aged care facility, it may be just part of their pension or a number of daily fees set by the government, the care provider and potentially more if means tested. It’s important to realise that while aged care can seem expensive with accommodation fees plus additional fees (depending on Centrelink assessments), the money paid is providing a lifestyle – accommodation, food and care. Refundable Accommodation Deposit (RAD) For most people entering care, there is a refundable accommodation deposit (RAD) to be paid. This is the cost of the room and most of it is refunded on departure. The cost ranges from around $650,000 upwards. Many people may need to sell the family home to afford this but there are options for how it is paid. For example, you don’t need to pay it all upfront. There are ways to pay part of it and a higher daily cost or pay none of it and have an even higher daily cost. There are sound financial reasons why someone might want to delay these costs. In the new rules from November 1, a small percentage of RAD will be retained after the resident leaves the facility. Seeking financial advice A financial adviser can help with the complexity of aged care funding, helping people understand their financial obligations and how to manage their funds to ensure there’s income to support their needs and cashflow for the future. This may include selling the family home or keeping it and establishing funding from elsewhere. There is an aged care speciality accreditation which many financial advisers now hold. Source: Money and Life

Sharemarkets continued to make headlines in the 2024-25 financial year but the best performers for investors seeking high returns broadened to include a much wider range of investment types. Investors looking for strong returns were able to find them in a growing number of investment categories over the 2024-25 financial year as several investment types dramatically outperformed their 10 year average performance. Unhedged global shares – which may be affected by fluctuations in the currencies used to conduct the trades – were the top performer in the year to 30 June 2025, delivering a return of 18.7%. This was only slightly less than their 2023-24 financial year return of 19.3%, despite increased market volatility; and remained well above their 10 year average return of 12.1%. However, emerging markets, listed global infrastructure and even Australian bonds were among the highest returning asset types, delivering big gains compared with both the previous financial year performance and their historical averages. The results were revealed in market data showing how different investment types performed over the financial year to 30 June 2025*. They demonstrated the resilience of sharemarkets despite changed global trading conditions following the US government’s decision to implement widespread tariffs on imported goods. However, they also revealed that investors seeking high returns were less dependent on the tech-led and AI driven companies that fuelled performance growth in 2023-24, as other asset types showed dramatic improvements. Best investment performers included established and emerging asset types Among the star performers of the past financial year, emerging markets returned 17.5% for the 12 months to June. This was a big improvement on the 12.2% they generated in 2023-24 and close to triple their average 10 year return of 6.5%. Listed global infrastructure made a sharp gain in 2023-24, delivering a return of 15.4%. This was a sixfold improvement on the 2.4% return it delivered during the 2023-24 financial year, marking a spectacular turnaround with a performance that was well above its 10 year average of 6.8%. And Australian bonds returned 6.8% last financial year – more than three times their 2.1% average return over 10 years. Investment market performance over 2024-25, 5 years and 10 years*   Strong investment returns across the board All major investment types outperformed their 10 year average returns during the 2024-25 financial year, the performance data shows. Australian shares returned 13.7% during 2024-25, significantly better than their 11.9% return during the previous financial year and well above their 8.8% historical return. Hedged global shares provided a return of 13.6%, down from the heady 19.8% growth they offered in 2023-24 but well above the 10.0% they delivered over 10 years. Even low-risk asset types, such as global bonds, delivered returns more in line with the traditional returns of ‘growth’ investment types. Global bonds provided a return of 5.5% – well above their 10 year average return of 1.9%, while cash delivered 4.4% growth – the lowest of all but more than double its 10 year average. * Benchmark performance annualised for periods greater than one year is shown for: Bloomberg AusBond Bank Bill Index; Bloomberg AusBond Composite 0+ Yr Index; Bloomberg Global Aggregate AUD Hedged; S&P/ASX 300 Accumulation Index; MSCI ACWI Ex-Aus Index Special Tax Net AUD Unhedged; MSCI ACWI Ex-Aus Index Special Tax Net AUD Hedged, MSCI Emerging Markets (AUD), FTSE EPRA/NAREIT Dev ex Aus Rental Index AUD Hdg Net and FTSE Dev Core Infrastructure Index AUD Hdg Net. Source: Colonial First State

It’s exciting to get a pay rise and when you’ve earned it, you often feel like it’s a deserved reward to treat yourself with, but used in the right way it can also help you build towards a more financially fulfilling future. Typically, the more people earn the more they spend which is often unfulfilling if you are constantly living day to day paying bills with nothing left over to give you confidence in your long-term or short-term future. If you have been able to afford your lifestyle on your current salary and you receive an increase, then you should technically be able to save the extra money. You’re likely to want to improve your lifestyle with an increase in salary, so you would like to use at least some of it. Perhaps you could save half and use half, thus improving your lifestyle plus building towards a more secure future. Or, if not half, a certain percentage or fixed amount of saving and a certain percentage or amount of spending. Saving made easy It’s easier to commit to a savings plan if you have it automatically transferred out of your main spending account into another account, so you don’t see it. The idea is that if you don’t see it, you won’t miss it. Several financial institutions have savings accounts which pay extra interest (and act as an incentive) to not make withdrawals from this account. Saving is really delayed gratification – not blowing all you have today but stretching out the ability to spend the money later. If you are saving for short-term goals – deposit for a home, or a car, or a holiday you might like to use term accounts or easily accessible savings vehicles. If you are saving for longer term projects – like children’s private school fees or your retirement, you might like products such as investment bonds or superannuation. It’s all about choices – is it more valuable to you to spend your money today or are you keen to give yourself greater choices later in life. One of the ways of thinking about your money and what you use if for is by consciously spending. Think about what you spend now and the opportunity cost of not having it to spend later. Choose the expensive holidays, dinners and lifestyle now or put some away so that you’ll be able to afford more later. Making no change If you’re not tempted to use your pay rise to save for the future in a formal way but you have a budget which for example, according to the 50-30-20 rule where you use 50% of your income for needs, 30% for wants and 20% for savings – you will still increase the amount of money you allocate for both now and for the future. Compound interest will allow your savings to build quickly over time – and what you may not have been able to afford in today’s dollars may become more achievable in future dollars. Super boost Even if you do nothing with your pay rise, your super will be getting a “pay rise” from 1 July 2025. From this date your employer paid Super Guarantee will be increasing from 11.5% to 12%. This means that for a salary of $80,000 you will now be earning an additional $400 a year. The Super Guarantee began in 1992 at 4% and has increased incrementally until the final legislated increase to 12% where it will remain. Source: Money & Life

Supporting your adult children or grandchildren in purchasing their first property can be a fulfilling way to help them achieve financial independence. However, it’s crucial to ensure your own retirement savings remain secure. Here are some strategies to help your loved ones get onto the property ladder without compromising your financial future. Financial strategies Guarantor loans How it works: A guarantor loan allows you to use the equity in your property to help your child or grandchild secure a home loan. This can be particularly useful if they have a small deposit but need additional security to meet lender requirements. Considerations: While this can be a powerful tool, it’s important to understand that you’re responsible for the loan if your family member defaults. Ensure you have a documented agreement and consider seeking legal and financial advice to understand the implications fully. Gifting the deposit How it works: Providing a financial gift for the house deposit can significantly reduce the financial burden on your child or grandchild. This can be a one off gift or a matching scheme where you match their savings efforts. Considerations: Be mindful of the gifting rules specifically if you receive government benefits or age pension. It’s also wise to ensure that this gift does not deplete your own savings, so speak to your financial adviser about your specific situation. Loaning money How it works: Instead of gifting, you can loan the money to your child or grandchild. This can be formalised with a loan agreement outlining the repayment terms and any interest. Considerations: This approach can protect your financial interests. However, it’s essential to have a clear and legally binding agreement to avoid potential family conflicts. Rent free living How it works: Allowing your child or grandchild to live with you rent free can help them save money for a deposit. This can be a temporary arrangement until they have enough savings to purchase a property. Considerations: Ensure this arrangement is clearly communicated and agreed upon by all parties. It can be a great way to support them without directly impacting your finances substantially. Joint ownership How it works: Co-purchasing a property with your child or grandchild can help them enter the property market. This means you both own a share of the property and contribute to the mortgage repayments. Considerations: Owning property with another person can have tax implications and affect your entitlement to government benefits. It’s important to seek financial advice to understand the full impact of this arrangement.     Protecting your retirement savings While helping your loved ones is important, safeguarding your retirement savings is crucial. Here are some strategies to help you stay financially secured: Diversify your investments Diversification can help protect your retirement savings from market volatility. By spreading your investments across different asset classes, such as stocks, bonds and real estate, you can reduce the impact of any single investment’s poor performance. Maintain an emergency fund Having an emergency fund can provide a financial cushion in case of unexpected expenses. This can prevent you from dipping into your long-term investments during emergencies. Adopt a sustainable withdrawal rate The 4% rule is a common guideline, suggesting that you withdraw 4% of your retirement savings in the first year and adjust for inflation in subsequent years. This can help your savings last longer during your retirement. Speak to your financial adviser about your specific circumstances. Consider annuities and IRIS products Speak to your financial adviser about annuities and innovative retirement income stream (IRIS) products that can provide a steady income stream in retirement – these reduce the risk of outliving your savings. They can be a valuable addition to your retirement plan, offering financial stability. Regularly review your financial plan Periodically reviewing your financial plan with your financial adviser can help you stay on track and make necessary adjustments. This helps ensure your retirement savings are aligned with your goals and risk tolerance. Limit large financial gifts While it’s generous to support your children or grandchildren, it’s important to balance this with your own financial needs. Consider how much you can give away while ensuring your retirement savings are enough for your own needs. Inspiring the next generation Your financial support can do more than just provide immediate benefits; it can inspire your children or grandchildren to achieve their own financial independence. By setting a positive example and providing the tools and resources they need, you can help them build a solid foundation for their future. Helping your adult kids or grandkids purchase their first property involves a combination of financial strategies and careful planning. As with any big financial decisions, we recommend you speak to your financial adviser or a financial coach to ensure your plans are appropriate to your personal situation.Source: MLC

New babies are a wonderful addition to your life. Planning ahead for parenthood can help you give your growing brood the best of everything. The costs of raising a child Children don’t stay small for long and the costs you face in the early days, like nappies, bouncers and prams, can pale into comparison with the subsequent cost of raising teenagers. Nonetheless, when two becomes three (or four, or five) you’re going to face additional household bills for food, clothing, energy consumption and of course all the equipment a new baby needs from cots and car seats to bibs and bassinets. Remember too, taking holidays is likely to cost more in terms of fares and accommodation. And later on, you’ll face the expenses associated with giving your child a quality education. Investing for your child One of the best steps new parents can take to manage the financial aspect of parenthood is investing for their child’s needs. This can mean setting aside funds to cover school fees, a university education or helping your older child buy a first car or even a first home. Single and having a baby Raising a baby on your own can be a rewarding though challenging experience and it can pay to build to a personal support network. Remember too, if you are a single parent you may be eligible in receiving certain financial government support. You may also be eligible in receiving child support payments from your baby’s other parent. Maternity leave and parental leave If you are working, you may be entitled to maternity or paternity leave. It is worth letting your employer know at an early stage when you would like to start your maternity leave – some employers will stipulate the stage of your pregnancy you must begin maternity leave. Aim to set a date for when you’d like to return to work also. This allows your employer to make arrangements for an interim employee. These days it’s not unusual for both mums and dads to take leave, one after the other. By tagging your maternity and paternity leave this way, you both get to spend time with your baby, avoid child care costs and give your newborn the benefit of an extended period with mum and dad. If you plan to return to work after the birth of your child, aim to make arrangements for child care at an early stage. It can be competitive to secure a spot in a centre near your home or workplace. Government assistance for growing families There are a raft of government support payments designed to help parents meet the costs of having a baby and raising their child. Be sure to apply early as it could take some time to be processed and for the payments to start coming through to you. Private health insurance – does your family need it? It is not essential to have private health cover and many public hospitals offer excellent ante and postnatal care. But if you prefer to have your own obstetrician or if you’d like to have your baby in a particular private hospital, it is worth reviewing your private health cover. Be sure any policy you select meets your needs as a family. Many policies will let you cherry pick the services you most need at this stage of life. This means you are only paying for what you need. Check out the government’s Private Health website for an ‘apples for apples’ comparison of different policies. Life insurance – keep your family protected The arrival of a new baby is a key life event and that should always be a trigger to review your personal insurances. Be sure to check you have adequate protection in place to provide for all your dependents if something were to happen to you. Remember too, to be sure your other half has up to date insurance cover. Financial advice for families Financial advice can be especially valuable for families. Whether you need help drafting a household budget or a complete financial plan to help ensure you can give your children the best opportunities possible, good financial advice can be a good investment. Source: BT

In today’s world, we manage a significant part of our lives through emails. We use them to communicate with friends, family and colleagues. We also use email to sign up for online accounts and services. Checking and managing your emails may seem like a mundane and repetitive task. But if you don’t stay vigilant, someone else could access and control your email account. This can lead to devastating personal and financial impacts. Cybercriminals can learn a lot about you from your emails. It is crucial to secure your email account, apply good habits and know how to protect yourself from scams. Understand the threats Poor cybersecurity makes it easier for someone to hack your email account. This can expose you to identity theft, fraud and further attacks. Learning about online threats is a first step in protecting yourself from cybercriminals. Phishing Phishing is when someone tricks you into giving them your personal information by pretending to be a person or business you trust. They may ask you to open a malicious link or attachment to steal your login or other details. Account compromise You need your email to access many online services such as banking and shopping. But if a cybercriminal gains access to your email account, they could get into any account linked to your email. They can then lock you out of these accounts and steal your money and personal information. Unusual account activity may be a sign of a compromise, such as a password reset or bank transfer you didn’t make. Identity theft Identity theft can occur when a cybercriminal gets access to your personal information. Common details they steal include your date of birth, address and tax file number. They can then use these details to impersonate you for financial gain. Malware Cybercriminals use malware (short for ‘malicious software’) to gain access to your data. You might open a link or attachment that downloads malware without you knowing. Some malware may even pose as antivirus or security products. Business email compromise Cybercriminals can impersonate a business by using a fake or compromised email account. This is a form of targeted phishing made to look like a real company or employee. Their goal is to trick victims into providing sensitive information, money or goods. Know the warning signs of email compromise Your login details don’t work. Your password recovery details have changed. You notice multiple login attempts at unusual locations or times. You get an unexpected email to reset your password. Your contacts are receiving emails from you that you didn’t send. If you notice any of these signs or suspect your email is compromised, reset your password and sign out of all sessions and follow this advice below. Strengthen your email account security There are several ways to make your email account more secure. Start by using multi factor authentication and a strong password. Turn on multi factor authentication Multi factor authentication (MFA) is one of the best ways to protect your email account from cybercriminals. MFA means you need 2 or more steps to verify your identity before you can log in. For example, using your login details as well as an authentication code. This makes it hard for cybercriminals to gain access to your account if they know your login details. Use a strong password If MFA is not an option, use a strong password such as a passphrase to protect your email account. A passphrase has 4 or more random words like ‘crystal onion clay pretzel’. Passphrases are easy to remember but hard for someone to guess. Don’t include personal details in your passphrase or share it with anyone. This includes the answers to your security questions if you need to recover your account. You may also want to consider using a password manager. A password manager can help protect, create and store strong and unique passwords. We recommend you to search online to compare their security features and the reputation of the service provider. If you are unsure, ask a friend, co-worker or IT professional for a recommendation. Set up account recovery options Make sure to set up recovery options for all your email accounts. If you lose access to your account or it is compromised, you can reset your login using your recovery option. Keep your devices and software up to date Regular updates are important for keeping your email accounts secure. Cybercriminals hack devices by using known weaknesses in systems or apps. Updates have security upgrades to fix these weaknesses. Make sure your devices and software are up to date. Check automatic updates are on and install updates as soon as possible. The longer you leave it, the more vulnerable you could be to a cyberattack. Practice secure habits Improving your email account security is only the first step. You also need to be aware of what to do and what not to do when using your email at home and in public. Check your recent login activity Make a habit of checking your email login activity often. This will allow you to catch any suspicious activity that can lead to an account compromise. This may include frequent login attempts, or login from an unrecognised device or location. If you notice any suspicious activity, sign out of all sessions and change your password. But be aware, it’s possible for your device to detect a different location than what you expect. For example, it may display your location based on the closest data centre in a major city. Use antivirus protection Antivirus software provides protection against malware. It helps to keep your devices secure and protect your personal information. Your devices likely come with built in antivirus software. Third party antivirus products can also offer more security features over free versions. If using these, make sure you research the provider online. Pay close attention to the services they offer and terms of service. Also, look for customer reviews and feedback. Avoid public WiFi Public networks are convenient but can also … Read more

In short: The Reserve Bank cut interest rates by 0.25 percentage points in August to 3.6 per cent, after July’s shock ‘on hold’ decision. The average owner-occupier with a $750,000 mortgage as of February will see their minimum monthly repayment fall $111 if their bank passes on the cut, taking the cumulative reduction this year to $340, according to Canstar. What’s next? The next RBA rates decision will be delivered on September 30. After that, there are two further meetings this year, in November and December. The Reserve Bank has delivered its third interest rate cut of 2025, with a 0.25 percentage point reduction at its August board meeting. That takes the cash rate to 3.6 per cent for the first time since April 2023. The move had been overwhelmingly anticipated by financial markets and economists after the surprise decision to hold rates steady in July. It was a unanimous decision by board, which had been divided last month. Tuesday’s cut follows a further easing of inflation in the June quarter, which RBA governor Michele Bullock last month highlighted as the crucial piece of data the monetary policy board was waiting for. “Updated staff forecasts for the August meeting suggest that underlying inflation will continue to moderate to around the midpoint of the 2–3 per cent range, with the cash rate assumed to follow a gradual easing path”, the post-meeting statement read. ABC News / Source: Reserve Bank of Australia The inflation pull back, alongside “labour market conditions easing slightly, as expected”, led the board to deem “further easing of monetary policy was appropriate”. “This takes the decline in the cash rate since the beginning of the year to 75 basis points”, the RBA board noted in its statement. The central bank cut interest rates at its February and May board meetings. Before that, the RBA’s cash rate had sat at 4.35 per cent since November 2023, after a series of 13 rate hikes, beginning in May 2022. Treasurer Jim Chalmers described it as a “very welcome relief for millions of Australians”. “It means the lowest interest rates for more than two years”, he said shortly after the decision. “It reflects the substantial and sustained progress we’ve made on inflation in a volatile and uncertain global environment”, the treasurer noted in a statement. Cash rate at 3.6pc, further rate cuts expected The Australian dollar fell following the decision, dipping just below 65 US cents as Ms Bullock addressed a media conference in Sydney. The RBA governor indicated the board was prepared to cut interest rates further if necessary. “The forecasts imply that the cash rate might need to be a bit lower than it is today to keep inflation low and stable, and employment growing, but there is still a lot of uncertainty”, Ms Bullock told reporters. “The board will continue to focus on the data to guide its policy response”. Where are rates heading? The Reserve Bank’s economic outlook suggests further room to cut interest rates, but it’s not all good news for most working-age Australians. Betashares chief economist, David Bassanese has forecast further interest rate cuts, with the next easing more likely in November, rather than at the next meeting in September. “Indeed, the [central] bank’s own forecasts of underlying inflation stabilising at 2.6 per cent over coming quarters incorporate further declines in the cash rate in line with current market expectations”, he wrote. “That said, barring a major growth scare, the RBA does not seem in any rush to cut interest rates. “All up, my base case remains that a rate cut on Melbourne Cup day is an odds on favourite –following release of the June quarter consumer price index report in late October”. The governor would not be drawn on what specific cash rate the central bank considers to be “neutral” – that is, the level where the rate is not stimulating or putting a handbrake on the economy. Instead, she gave a “very wide range” of between 1 and 4 per cent, and noted a neutral rate is for when there is an absence of economic shocks. “We are very often not in the absence of shocks … we’ve got shocks, particularly at the moment”. While the central bank’s forecasts put inflation around target over the period ahead, it has downgraded its growth forecasts. It now expects gross domestic product (GDP) expanded 1.6 per cent over the year to June (compared to 1.8 per cent forecast in May); and GDP growth to only pick up to 1.7 per cent by the end of the year (it had previously forecast 2.1 per cent). “Its forecasts assume that the cash rate will continue to ‘follow a gradual easing path’, implying that without further easing growth and inflation will be lower and unemployment higher”, AMP chief economist, Shane Oliver said. AMP has forecast further rate cuts in November, February and May to take the cash rate to 2.85 per cent. “We continue to see further rate cuts as growth remains sub par, the risks to unemployment are on the upside, underlying inflation is likely to remain around the 2.5 per cent target and monetary policy remains tight”, Dr Oliver wrote. How much will home loan repayments fall? Some lenders were quick off the mark to confirm they would be passing on the interest rate cut to home loan customers, with Macquarie, Commonwealth Bank, Westpac, ANZ, NAB and AMP among the first handful of announcements. The cumulative effect of three rate cuts so far this year have added up to a substantial reduction in minimum mortgage repayments for many home loan borrowers. According to calculations by financial comparison site Canstar, the savings from this month’s cut range from $74 on a half a million dollar mortgage, to $148 on a $1 million home loan. Based on an owner-occupier paying principal and interest with 25 years remaining in Feb 2025 at the RBA average existing customer variable rate. Calculations assume the banks pass on each cut in full to … Read more