Family matters: Our best ideas on creating a better financial future for your family
Providing and protecting for your family financially.
Many of our financial goals revolve around creating better lives for ourselves and for our families.
From saving for your children’s education to securing your retirement and estate planning, the decisions you make today will shape your financial future, as well as your family’s.
This edition of the newsletter focuses on some of Morningstar’s best research and insights on creating a better financial future for your family.
Thinking ahead
Are private school fees worth it? Shani looks at what you’re giving up by sending your kids to private school.
You can find the podcast episode for the article below.
Want to set up your child for life? Joseph explores how to (almost) set up a child for life with $46 per week.
Are education bonds a tax effective way to save for your children and grandchildren’s education? Shani takes a look at how it compares to other investment structures.
Balancing potential parenthood and finances? Sim explores whether Millennials afford to have children.
Estate planning
Thinking about estate planning? Noel Whittaker gives some great advice in Estate planning made Simple Part I, Part II and his interview with James Gruber.
Having tough conversations? Get some tips on how to talk to your family about your will.
Avoid common mistakes: Avoiding wealth transfer pitfalls and how to create an airtight will when more than 50% of wills are contested.
What are the documents you need to protect yourself and your family? These are the essential documents to give you peace of mind.
Inheritance
How to incorporate an expected inheritance into your financial plan. The intergenerational wealth transfer is a hot topic. How should you incorporate any inheritances into your financial plan?
You can find the podcast episode for this article below.
Your inheritance will likely be a house. What should you do with it? Shani looks at the implications of inheriting or bequeathing property. Shani also takes a look at your options when you inherit shares.
Should you give your children their inheritance before you die? The issue is likely to be aired more often as Baby Boomers in Australia get older, die richer and leave behind larger bequests.
Invest or pay off your mortgage? This Investing Compass episode explores what you should do when you receive an inheritance.
