Quote of the Month:

“To grow, you must be willing to let your present and future be totally unlike your past. Your history is not your destiny.” – Alan Cohen

loan-docIf financial jargon is all too hard, this is for you…

Confused by all the jargon? Transition to Retirement, Account Based Pensions, Estate Planning, Self-Managed Super, Investment Profile, Beneficiary Nomination

Array Financial Services now has access to a Financial Educator. This may just be the opportunity you’ve looking for to assist with finding clarity on your financial life and future.

If this is something you’re interested in, we’d welcome your enquiry.

Source: Alex Lagerwey

Superannuation death benefits

In most cases, when a person dies, their superannuation fund will pay their super balance plus insurance (if any) to the person they have chosen as their nominated beneficiary. Super paid after a person’s death is called a ‘super death benefit’.

Read On:

Fear and Greed  drive the emotions of human habits  The fear of losing something that is precious to us and the fear of not having enough or missing out can sometimes  drive us to do illogical things, i suppose it’s called human nature. World share markets of late have gone through some extreme volatility which confuse us, scare us and can create a sense of fear .So what do we do? In times like this we need to go back to our goals and think about what we are trying to achieve. Consider diversity of investments and remember our time frames for our investments.

Source: Steve Maynes

Homeowner at 21

by Melissa Lagerwey

‘Buying a house’ sounds like such a simple and achievable dream. But the reality is that there is nothing simple about it at all. For my partner and i, the easiest part was the decision to buy, and then came the complicated journey through real estate and bank world.


Once we had our budget, it was time to ‘shop.’ Naively, I didn’t believe it would take long to find a house we liked. I was not prepared for the disappointment of seeing a house online that looked ok, only to discover the photos really only show you one perspective – The one agents want you to see. And then there’s the problem of underquoting (this is when an agent lists a property under its real value to get more buyers in). The moral issue with this is that it’s deceiving to buyers who think they have a chance but agents don’t seem to care all that much. I would suggest adding 10% to any listed property before you go and look.
The next step after finding a property was making an offer. It seemed simple enough – tell the agent how much you’re prepared to give the seller for their property and wait for a yes/no or counteroffer. The first time we tried it didn’t exactly work like that. There is a method called ‘sale by set date’ agents like to use, that really means that all final offers must be in a by a date and the seller chooses the highest.
We missed out on that first one, but it was a massive learning curve in how to deal with agents.We tried several times with a few properties and the repeating factor as to why we weren’t successful seemed to be that the agents thought we were too young and didn’t have enough for a deposit. This was very unprofessional and I encourage all young people trying to get in the property market to not give up and stand up to the agents – afterall you provide the opportunity for their commission.
After a few months we found a house we liked and the nice agent was a bonus considering the experiences we’d had before were negative. So the next step was to get a loan. Thankfully we enlisted a mortgage broker to do deal with the loan process as neither of us knew much about mortgages at all and the industry jargon confused us to no end. It all went very smoothly after that and 90 days after our offer was made settlement took place and we were officially homeowners.

If you have this dream too, it will take hard saving and sacrifice to get there. The good news is though that there are professionals that can help make it a bit easier. That’s why I recommend seeing a mortgage broker and financial adviser rather than going it alone in Barbara’s bank world.