Money Over 50

AUDIO FIXED During your working life, your superannuation fund has been growing and growing thanks to contributions from your employer and hopefully yourself. This money sits there for decades, slowly accumulating for you without being touched. But when can you actually access this hard-earned cash? There are three main conditions of release when it comes to your super. In this episode, Ali explai...

AUDIO FIXED You can’t have everything! Be realistic with your goals Do you ever feel like you’re trying to do a thousand things at once, and not really doing any of them well? Ali knows the feeling. Life is busy, but the more we try to do everything, the less we do them well. Sometimes we need to take a step back and think about what it is that matters to us the most. In this episode Ali gets pers...

Did you know that on the 1st of July 2024, you’ll be able to contribute more into your superannuation and take advantage of Australia’s best ‘tax shelter’? The reason for that is that superannuation contribution caps are increasing on the first day of the new financial year. In this episode, Michael and Ali discuss the contribution caps and exactly how much they are increasing by, and how you can...

For many people, getting their finances on track is high on the priority list. And to do that, they realise they need professional help. But how do you know which financial adviser is right for you? In this episode, Ali discusses what you need to consider and what you need to be aware of before selecting a financial adviser. For more information, please visit ww.mo50.com.au

If you held an investment for 15 years, would you prefer it to make nominal returns of 12.5% per annum, or 20.3% per annum? The answer may seem simple, but is a lot more complex than most people realise. In this episode, Ali and Michael discuss the ‘silent killer’ also known as inflation, and how it affects your investments and purchasing power. For more information, please visit www.mo50.com.au  

Alice, a regular listener, asks a question about what would happen if her and her partner were to sell their primary place of residence (PPR) and use the downsizer contribution to add $300,000 super.  In this episode, Michael and Ali discuss Alice's question, and downsizer contributions. They discuss what a downsizer contribution is, its eligibility requirements, some advantages (such as boosting...

Sue, a regular listener, asks a question about her husband’s 0% taxed super income stream and how they could make the most out of this money. She would like to know what investments, if any, she can make to increase their financial position. In this episode, Ali and Michael discuss Sue’s question and what would happen if her husband were to return to part-time work after retiring. For more informa...

When you retire, your superannuation balance can become a 0% taxed super income stream. This is essentially the same as a tax-free trust fund. Australia has one of the highest income tax rates in the world; however, it is also one of the most generous when it comes to your retirement. In this episode, Michael and Ali discuss your super income stream, and the eligibility criteria you need to meet i...

It's February 2024 and Michael & Ali are back with new Money Over 50 Podcast episodes! In this episode, Michael & Ali unpack a recent question they received from podcast listeners Paul and Renae. They discuss the yearly concessional contributions cap, the difference between concessional contributions and non-concessional contributions, and what carry-forward opportunities mean for you.   C...

In this episode, Ali discusses 4 potential options for a new retiree who doesn't have enough to retire on (Centrelink Age Pension, adjust lifestyle, downsizing your home, and semi-retirement). People may also find other options out there, or may even use a combination of these to achieve their retirement goals.   For more information, please visit www.mo50.com.au

Have you ever gone on a diet or started a new fitness plan? Chances are you found it painful at the start. Financial plans can be much the same. The good news is, the pain is only at the beginning! In this episode, Ali shares his expertise on starting a new financial plan, including how to build new habits and get rid of old ones in order to build yourself a better lifestyle. For more information,...

Do you see yourself as a retiree, or a pensioner? Turns out, there’s quite a difference! Self-talk and self-identity are more important than you may realise. In this episode, Dallas and Ali discuss the implications of how you may see yourself at different ages, and what this means for your finances. For more information, please visit www.mo50.com.au  

It’s not uncommon for the government to make changes to our superannuation rules, and a few new things have come into effect since the 1st of July 2023. In this episode, Ali discusses three significant changes to superannuation that everyone should be aware of, especially those nearing retirement. For more information, please visit www.mo50.com.au

What are you afraid of when it comes to money and security? And have you discussed this with anyone, or really taken the time to sit down and think about it carefully? In this episode, Ali and Dallas discuss how and when to say your fears out loud, and what it means for your wealth and financial planning.   For more information, please visit www.mo50.com.au

In this episode, Ali explains his thoughts regarding travel after coming back home from a trip in Europe. He explains that even though he did enjoy his travels, he's gained a much larger appreciation for home and believes that finding enjoyment in the small things can be a lot more rewarding in life.   For more information, please visit www.mo50.com.au

This is a repeat of Listener Favourite: 275 Knowing you don't need to work makes work better Sometimes, you need to put your happiness before your job. Easier said than done, right? But if you’re close to retirement and you’re extremely unhappy in your job, perhaps it’s time to let it go. But how do you make that call, and how do you know if you’ll have enough money to retire with? In this episode...

This is a repeat of our recent Listener Favourite Episode: 303 You can compare things but you can't compare experiences It is human nature to compare ourselves to others. In fact, we compare everything – material possessions, the size of our homes. Experiences, however, are harder to compare, but often bring us more joy. In this episode, Michael and Dallas discuss what studies have already shown u...

This is a repeat of Listener Favourite: Episode 247 Why my kids won't get an inheritance    Dallas discusses with Michael his thoughts on the planning of providing an inheritance to children. There is no right or wrong answer on whether you should leave an inheritance, however, there are a few things to take into account when planning for this. For more information, please visit www.mo50.com.au

This is a repeat of our Listener Favourite episode 271 A moral guide to minimising taxation   Tax evasion or tax minimisation – what’s the difference? According to Kerry Packer’s famous speech during a parliamentary hearing, a lot. And if you’re not trying to minimise your tax, there might even be something wrong with you, according to Packer. In this episode Michael and Dallas discuss the differe...

This is a repeat of listener favourite episode 297 When to take advice. Do you like taking advice from other people? Or do you listen half-heartedly before doing the exact opposite of what they have suggested? In this episode, Michael and Dallas delve into when, and from whom, you should take advice – and why an ‘expert in all areas’ is really an expert in no areas. For more information, please vi...

This is a repeat of Listener Favourite of episode 218 3 simple things (in retirement planning).  In this episode (from all the way back in 2021), Michael and Dallas sat down and discussed how simple it can be to get ahead financially, but also how hard it can be to not make an error through panic. Michael uses a real-life example of investing at the worst possible point in time (i.e. right before...

This is a repeat of episode 248 The best way to avoid panicking in a downturn is not to panic! One of the quickest ways to derail your retirement or investment plans is to PANIC! It might be hard not to react, but panicking at the sight of downturns can undo all of your hard work. For more information, please visit www.mo50.com.au

This is a repeat of Listener Favourite: Fridges with ice makers Bringing you another Listener Favourite this week - Fridges with ice makers! When you were a kid, do you remember visiting friends’ fancy houses and comparing them to your own? For Dallas, the epitome of a fancy house was one that had an ice maker. If one of his friends had a house that featured one of these, in his eyes, they had rea...

This listener favourite episode is all the way back from April 2020; but is still relevant today! In this episode, Dallas and Michael discuss owning residential property in retirement, and highlight the many negatives that come with owning this type of asset. For more information, please visit www.mo50.com.au    

Whether or not you are a fan of horses, this tale about our equine friends will have you thinking about your money in a different way. In this episode, Dallas and Ali discuss Red Boom and Sky High, two horses that have very different strengths. How we compare them depends on what metric we use, as with our cash and investments. So how does your money metric compare? Giddy up – let’s find out! For...