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Self-Employed? You probably aren't getting the most out of ACC

You've filed your annual return, budgeted for provisional tax and are looking forward to your 18/19 financial year when suddenly you receive a little white envelope in the post. ACC have sent you their annual love letter. If you're lucky, and depending on your income and occupation, this will be to the tune of around $2,500 (I have seen significantly higher). Unfortunately, most people forward this onto their accountant and pay it without thinking about what they are getting in return. If you ar...

October 16, 2018

Investing in your mental health

We’re halfway through Mental Health Awareness Week, and a record number of Kiwis have already taken part in this global movement. From an interactive mural painting in Dunedin, to a kaumātua-led hikoi to the summit of Matukutureia and a nationwide Wellbeing Photo Challenge supported by Nikon and Shakti Mat, it is encouraging to see more and more people stepping up and stepping out to talk about this social stigma. In 2017, over $9.5 million in Mental Health Claims were paid out by just one in...

October 11, 2018

This is Doris' story

Apex clients have received more than $24 million in claim payments from insurance companies in the last year. Doris was one of these clients that had the right insurance in place at the right time. In 2015, Doris met with her adviser Will Leang to update her insurance. At the time, Will recommended she take out Progressive Care. Progressive Care is a new Severity based type trauma insurance by Sovereign, which can pay out more than once and for a wider range of illnesses. Benefit payments are li...

October 3, 2018

Blue September

Blue September is the Prostate Cancer Foundation's National Awareness Campaign. Every year around 3,000 men are diagnosed with prostate cancer in New Zealand and more than 600 will die. That’s about the same number as women who die from breast cancer. The good news is that early detection can significantly reduce the risk of death from prostate cancer. Mostly, men don’t know how dangerous this disease is – patients don’t talk to their doctor about it, doctors don’t talk to patients abo...

September 25, 2018

It’s finally spring – is it time to change homes?

As the days get longer, the birds start chirping, and the weather improves, we predictably start to feel more positive and optimistic. We start feeling like summer is just around the corner. For many people, the new season is often a trigger for buying or selling property. If you don’t start early enough, you won’t be in by Christmas Bringing your property up to its sparkling best for sale, can take longer than you think.  You may need to: top up your mortgage to cover the cost of work ...

September 20, 2018

World Suicide Prevention Day

Today is World Suicide Prevention Day, an annual initiative of the International Association for Suicide Prevention. The organisation says around the world more than 800,000 people die by suicide every year. That's about one person every 40 seconds. Globally, it's the 15th leading cause of death, accounting for 1.4 per cent of all deaths. In New Zealand, the number of suicides continues to climb. Provisional statistics released by the Chief Coroner last month show 668 people died by suicide...

September 10, 2018

Economic Update - September 2018

The world economy remains strong and the near-term outlook is fairly bright, despite the recent escalation in trade tensions. Global growth is robust as major economies continue in mature phases of an extended economic expansion. United StatesThe unemployment rate of 4% is near an 18-year low and the US economy has added jobs every month over the past 93 months, which is the longest consecutive stretch on record. The tax cuts and additional spending are estimated to contribute nearly 2% of GDP p...

September 4, 2018

Money Week 2018

Sorted Money Week is a public awareness campaign aimed at empowering New Zealanders to manage their personal finances. Now in its seventh year, Money Week 2018 will shine the spotlight on financial resilience. This year we aim to help New Zealanders focus their attention on how they would weather a financial shock, and more importantly - how quickly they can bounce back if it were to happen to them.Click here to visit the Money Week website for events, resources and ideas....

September 3, 2018

Dear future-me, I’m thinking of you today

In preparing for battle I have always found that plans are useless, but planning is indispensable. Dwight D. Eisenhower In today’s world, we are bombarded with messages of the now. Everyday life moves quickly and everything is readily at our fingertips, literally. You’ve probably heard the popular message to “live in the moment”. Also called mindfulness, it’s a state of intentional attention on the present. Human beings are also hard-wired as optimists, both neuroscience and social sc...

August 14, 2018

This is Duncan's story

When Duncan met with Will Leang, his Apex adviser, in 2016 his main concern was his insurance premiums going up. Duncan was in his 50s and had a number of different policies with different providers. Some policies he had signed up for from his work, others through another adviser. Only a few of those policies were serviced by Apex. “I wouldn’t say what I had could be considered a proper plan, but I did have insurance in place”, says Duncan. When Will went over their needs analysis he uncov...

August 13, 2018

The Mortgage “Sleep Test”: Do you pass?

The word ‘debt’ can conjure up some negative feelings, like sleepless nights and loan sharks. Of course there’s also what is known as ‘good debt’ – debt which is an investment, with the intention it will grow in value or generate income. Generally, home loans and student loans are considered ‘good debt’ for this reason. Average household debt levels in New Zealand (comprising mortgages, consumer loans such as credit cards and personal loans, and student loans) have grown tenfold...

August 8, 2018

What happens to my money (or debt) when I die?

by Diana Clement - NZ Herald What happens to your money (or debt) when you die?The short answer is if you have very little to your name, an uncomplicated life, and you have a will, the money goes to whomever you choose. That could be your children, partner, next-door neighbour, or even to charities such as the SPCA or Red Cross. The long answer is full of buts. No Will If you die "intestate", which means without a will, your money doesn't necessarily all go to your spouse, partner or children.T...

August 2, 2018

Just doing some home renos, why do I need insurance?

Over time there is a good chance that at your home or commercial building you may want to renovate or extend, dress things up or make it bigger. That shouldn’t be an issue should it? Well that depends on the work.  If you are having a repaint done or new carpet laid, not a problem. If however there is anything structural being done or invasive into the structure (think say installation of a new kitchen which requires new plumbing or electrical work) you need to know that this is not cover...

July 30, 2018

Has anything changed?

Are you buying a property, having a child or changing jobs? Maybe you already have? Take a moment to think back over the last year. Consider any major changes you and your family may have experienced and then watch this video....

July 25, 2018

The rules to break to get rich

In today’s blog post we want to share an article recently published in the NZ Herald. In this piece Susie Moore tells us that there are some rules that need to be broken to earn serious dollars. Susie Moore is an Australian high-performance coach, consultant and author based in New York. She's been featured on the Today show, Forbes, Oprah.com and more. Moore goes through some of the myths she thinks should be re-interpreted to get rich. For example, if you think letting your achievements spea...

July 17, 2018

KiwiBuild eligibility released: $120,000 for singles, $180,000 for couples

In a nutshell, the KiwiBuild scheme is designed to help first home buyers onto the property ladder. Labour intend to build 100,000 affordable homes over the next 10 years, available to purchase for eligible Kiwis. Recently it was released who would be eligible to buy a KiwiBuild affordable home. Interestingly, the income criteria is wider than other recent government schemes to help first home buyers – below $120,000 annual as a single, or below $180,000 annual as a couple. Similar to other r...

July 11, 2018

Pay off your mortgage faster with your everyday bank balance

When it comes to mortgages (and trying to pay them off), it’s not all about the rate. It’s about at what rate you pay it off. Other than finding forgotten coins in the couch, getting paid more, or hoping for that inheritance from Aunt Lucy, there are ways we can pay the mortgage off faster. The right mortgage structure can make a big difference – one which allows us to be smarter with our money. An offset home loan structure is one that, in many cases, can help pay off your mortgage soon...

July 11, 2018

Quick tip: increase your insurance without medical underwriting

As life changes, so should your insurance. Chances are that you initially took out life insurance when you bought your first home to cover your loan. When you buy your second property and you increase your loan, you should also increase your insurance, to make sure you are still covered should something happen to you. Some life insurance policies have a feature that allows you to increase your cover without the need for additional medical information, following what they define as a Special Even...

July 2, 2018

What's your money personality?

An individual’s personality is defined as the characteristics or qualities that form a person’s distinctive character. It would be fair to say that a personality can have a lot of influence on someone’s life – including the way they interact with others, their chosen lifestyle and career paths. Similarly, we all have different ways we interact with and think of money – which can be thought of as our money personality. Much like being described as outspoken, reserved, confident or timi...

May 30, 2018

KiwiSaver members make sure you get your free $521 this year

It is that time of the year again - we want you to make sure you are making the most of your KiwiSaver and the power of compound interest. KiwiSaver members are eligible for a Member Tax Credit (MTC). For every dollar you put into your KiwiSaver account, the Government puts in 50c, up to a maximum of $521.43 each year - this is effectively free money for KiwiSaver members.  In the FY ending June 2017, about 1.1 million people either received less than the maximum government contribution or ...

May 29, 2018

Young Kiwis rely on their parents for financial know-how

If you have children or close family members in their 20s, are you aware you could be their main source of financial information? That’s the case for nearly half of 20-year-olds today in New Zealand, a recent study by Massey University has found. Massey University's Fin-Ed Centre is undertaking a 20-year study on the financial knowledge, attitudes and behaviours of a group of New Zealanders through different life stages. They recently carried out a second phase of the study, interviewing parti...

May 15, 2018

The cost of care

Grant Lovatt, 58, was diagnosed with motor neurone disease in 2012. In 2014 a neurologist gave him less than 12 months to live. Five years later he is still alive, being cared for by his wife Glenda. That means Glenda cannot work and the couple are living on $494.20 per week, including accommodation supplement, supported living payment, and disability allowance and after deductions and debt repayments to Work and Income are taken into account. Sadly, the couple might need to sell their house in ...

May 14, 2018

When does an interest-only mortgage make sense, and when does it make cents?

An “interest-only” mortgage is when the borrower is only paying the interest accruing on their loan, without paying back any of the principal (the original amount borrowed). It’s less common than it once was, partly due to low interest rates and recent lending restrictions, but there are times when it makes sense (and cents!)Interest-only mortgages for investors There are often significant benefits for investors to have an interest-only mortgage structure, particularly if you still have a ...

May 9, 2018

What if you lost your income today?

We all like to think that we are invincible, that nothing will ever happen to us, but what if it does? Every year over 50,000 New Zealand households (a Napier-sized city) lose the main income earner's salary through illness. More than half of those lose it for six months or more. If your income stopped today could you still provide for your family?  We are lucky that we can rely on ACC to provide cover should we suffer an accident. But what most people fail to understand is that ACC doesn...

April 24, 2018

How to make your money work smarter for you

The good old strategy of working hard for your money might see you do well, but it’s making your money work hard for you that the truly wealthy have mastered. Done right, and on a large enough scale, can bring financial independence. Here are a few key tips… Budget, don’t fudge it This one might sound obvious, but budgeting can be the most important way to alter the way you handle your money. Other than your income, your budget is the best tool you have to building wealth and avoidi...

April 19, 2018 Posts 1-25 of 197 | Page next
 

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