In this article I write about what to do if your property is facing compulsory acquisition. Is it a win fall or does it mean disaster. It is clear though from researching the topic and interviewing people that the most important thing to do is to get the appropriate legal advice to ensure that you are maximising your chances of the best outcome possible.
It can be a stressful time if the Government wants to sell your house and knock it down to build a piece of infrastructure, so knowing your rights and understanding the process can go a long way to help relieve the pressure.
With so many infrastructure projects occurring in Sydney, Melbourne and Brisbane, thousands of people are affected by compulsory acquisition (and it should be noted that rules are state based and differ), so the article was well received and I received positive feedback from people it assisted.
To read the whole article, please click on the link below:
Despite its popularity, many people still do not know exactly what crowdfunding is. So what is it? Well, crowdfunding is a phenomenon that takes up the concept “the wisdom of the crowd” in which the public gets to consolidate in order to validate an idea.
Many entrepreneurs prefer crowdfunding when financing their business ideas or projects given the amount of money they can raise. In addition, they get a simple yet comprehensive platform where they can pitch their business ideas to potential investors without going into financial troubles.
Below are different types of crowdfunding:
- Donation: This sees the public donate or contribute funds for a community or charitable project.
- Reward: The public pledging money to a company with an aim of reaping the benefits of the company’s success.
- Equity: This sees companies that want to raise money issuing out equities to the public. By taking up these equities, they become shareholders. Entrepreneurs tend to take up this type of crowdfunding if they plan on expanding their business or are at an initial stage for start-ups.
- Debt (Peer-To-Peer lending): This sees the public lend money to individual parties or businesses which they later repay with interest.
Crowdfunding works in two ways. One, it works based on rewards. This allows the public to contribute their funds to a product either by a business or an individual with the promise of receiving the final product once the product is fully developed.
The other one sees the public raises funds for a company with the promise of having the slice of the company once it becomes successful. In exchange of their funds, the company or the individual given the money tend to give the public equities thus making them shareholders of the company. In Australia, only those are allowed to participate in this type of crowdfunding who earn around $250,000 or have assets that total up to $2.5 million.
There are several misconceptions or myths related to the crowdfunding, for example, many people believe that it does not require hard work. In fact, many believe that you can just start up a project, sit back and relax while the money rolls in. This is far from the reality.
For a crowdfunding project to be successful there has to be lot of work put into it. Another misconception surrounding crowdfunding is that it is only useful for start-ups or small businesses. Although it helps a majority of start-ups, established companies can also take advantage of it when they want to launch various products or even expand to other states or countries.
There are three key points one should keep in mind when it comes to get crowdfunding from investors. These are:
- Crowdfunding should help connect to a campaign’s greater purpose
- Crowdfunding should help connect to a campaign’s physical aspects
- Crowdfunding should help capture the campaign’s creativity
Lastly, it is important to make sure that every campaign has a powerful reason behind it. Most importantly, it has to have a reward aspect for the public for them to participate.
There has been a lot of media attention this week on the validity and strength of Comminsure life insurance policies with several case studies of people who have been declined claims based on what would appear to be valid claims on the surface.
It is concerning that people may be paying for life insurance policies that may not provide the coverage that they expected at claim time.
Whilst it may seem simple to select a life insurer to cover heart attack (via a critical illness policy), each insurer has different definitions for the events and conditions they cover under the category of heart attack.
To demonstrate this point, below we have provided the policy extracts from 5 major insurance companies on their coverage of heart attack including Comminsure. As you can see, each has different methods to assess heart attack claims.
If you would like a free review of your life insurance policy, please contact us using the contact form on the right hand side, call us on 1300 88 18 18 or e-mail at email@example.com
Please note: This information may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information. Accordingly, you should consider the appropriateness of this information having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product.
Comminsure Protection Trauma Plus - Policy Extract
Heart attack of specified severity: The death of part of the heart muscle (myocardium) as a result of inadequate blood supply. The diagnosis must be based on either: – the following medical evidence: * elevation of cardiac enzyme CK-MB or * elevation in levels of Troponin I greater than 2.0 mcg/L or Troponin T greater than 0.6 mcg/L or their equivalent and * confirmatory new electrocardiogram (ECG) changes or * medical evidence satisfactory to us that the heart attack reduced the Left Ventricular Ejection Fraction to below 50% when measured at least six weeks after the heart attack or – any other medical evidence satisfactory to us which demonstrates that myocardial damage has occurred to at least the same degree of severity as would be evidenced by the medical evidence required under the first bullet point.
MLC Insurance Critical Illness Plus - Policy Extract
Heart Attack: (Myocardial Infarction) means the death of part of the heart muscle because of inadequate blood supply, confirmed by a Cardiologist and evidenced by:
typical rise and/or fall of cardiac biomarkers with at least one value above the 99th percentile of the upper reference range together with either: • new serial ECG changes showing the development of any one of the following: – ST elevation – left bundle branch block (LBBB), or – pathological Q waves, or • imaging evidence of new and irreversible: – loss of viable myocardium, or – regional wall motion abnormality. If the clinical pathway and disease management on hospital discharge for any medical event or investigation is not consistent with an acute myocardial infarction, then a claim is not payable under this policy. Myocardial infarctions arising from elective percutaneous procedures are excluded. If the above tests are inconclusive or superseded by technological advances, we’ll consider other appropriate and medically recognised tests.
TAL Accelerated Protection Critical Illness Premier - Policy Extract
Heart Attack (myocardial infarction) means the death of a portion of heart muscle as a result of inadequate blood supply to the relevant area. The basis of diagnosis will be: – confirmatory new electrocardiogram (ECG) changes; and – a diagnostic rise and fall (other than as a result of cardiac or coronary intervention) in either Troponin I in excess of 2.0ug/L or Troponin T in excess of 0.6ug/L or cardiac enzyme CK-MB.
If the above criteria are not met, We will pay a claim based on satisfactory evidence that the Life Insured has unequivocally been diagnosed as having suffered a myocardial infarction resulting in: – a permanent reduction in the Left Ventricular Ejection Fraction to less than 50%, measured three months or more after the event; or – new pathological Q waves. At TAL’s discretion, We will also consider any other medical test result provided by a cardiologist that unequivocally diagnoses myocardial infarction of the degree of severity or greater as documented above. Minor Heart Attack means the death of a portion of heart muscle as a result of inadequate blood supply to the relevant area. The basis of the diagnosis will be: – a confirmatory new electrocardiogram (ECG) changes; or – a diagnostic rise and/or fall of cardiac biomarkers with at least one reading above the 99th percentile of the upper reference limit. At our discretion, we will also consider any other medical test result provided by a cardiologist that unequivocally diagnoses myocardial infarction of the degree of severity documented above. If the clinical diagnosis and disease management on hospital discharge for any medical event or investigation is not consistent with an acute myocardial infarction as confirmed by a consultant cardiologist, then a claim is not payable under this policy. Myocardial infarctions arising from percutaneous procedures are excluded. In the case of Minor Heart Attack, the amount to be paid is reduced to 25% of the Benefit Amount to a maximum payment of $50,000. Only one payment can be made for Minor Heart Attack.
AMP Elevate Trauma Plus - Policy Extract
Heart Attack means the death of an area of heart muscle due to lack of adequate blood supply where: > there are diagnostic changes in relevant cardiac enzymes or biomarkers in the days following the heart attack, and > there are typical new ischaemic changes in the electrocardiograph (ECG): new ST-T changes or new left bundle branch block (LBBB).
If the above criteria are not met, we will pay a claim based on satisfactory evidence that the person insured has unequivocally been diagnosed as having suffered a heart attack resulting in: > a permanent reduction in the Left Ventricular Ejection Fraction to less than 50 per cent measured in the three months or more after the event, or > new pathological Q waves.
Other acute coronary syndromes including, but not limited to, angina pectoris are excluded.
Heart Attack (Other) Early Payment
In the case of a Heart Attack (Other) Early Payment, we will pay you the lowest of: > 20 per cent of the Benefit, or > $100,000.
Heart Attack (Other) means the death of an area of heart muscle due to a lack of adequate blood supply where, together with symptoms of ischaemia there are diagnostic changes in relevant cardiac enzymes or biomarkers in the days following the heart attack.
A Heart Attack (Other) must be confirmed by diagnostic changes in relevant cardiac enzymes or biomarkers and there will be no need for typical new ischaemic changes (new ST-T) or new left bundle branch block (LBBB) in the electrocardiograph (ECG).
Excluded: > non heart attack related causes of elevated cardiac enzymes or biomarkers, and > other acute coronary syndromes including, but not limited to, angina pectoris.
AIA Priority Protection – Crisis
‘HEART ATTACK’ (myocardial infarction) means the death of heart muscle as a result of inadequate blood supply to the relevant area. The diagnosis must be confirmed by a cardiologist and evidenced by typical rise and/or fall of cardiac biomarker blood test (Troponin T, Troponin I or CK-MB) with at least one level above the 99th percentile of the upper reference limit PLUS: – acute cardiac symptoms and signs consistent with myocardial infarction (e.g. chest pain) OR – new serial ECG changes with the development of any of the following: ST elevation or depression, T wave inversion, pathological Q waves or left bundle branch block (LBBB) OR – imaging evidence of new loss of viable myocardium or new regional wall motion abnormality. If the above tests are inconclusive we will consider other appropriate and medically recognised tests. Other acute coronary syndromes including but not limited to angina pectoris are excluded
In the highly competitive Sydney property market, investors need every edge they can get and using a buyer’s agent is one way of doing so.
Unlike a real-estate agent who acts in the best interests of the seller, a buyer’s agent is a person who represents the buyer in property negotiations. A buyer’s agent can provide investors with a number of advantages.
For example, when using a buyer’s agent, they may be able to access properties that were made for private sale or that have not yet been listed, essentially giving you access to a larger pool of real estate to choose from.
Furthermore, a buyer’s agent is able to represent you during the negotiation stage of the property transaction. In many cases this means the buyer’s agent is able to use their negotiating skills to save you thousands of dollars in the property purchase.
A buyer’s agent could also use their expertise to assist you in selecting a property from your shortlist that has promising capital gains or rental returns, whichever best suits your property portfolio. A buyer’s agent could even help you construct this shortlist based on your criteria.
It is also an important to note that knowing exactly what you want from your investment property is crucial in using a buyer’s agent. If you fail to be exact about what you’re after, you may find yourself disappointed with the properties your buyer’s agent presents to you.
If you think a buyer’s agent may be worth considering for your property investment pursuit, it is advisable to contact a financial planner who will be able to refer you to a quality buyer’s agent and also assist you with any additional issues or considerations that need to be taken into account for your real estate investment.
With house prices outpacing wage growth and reaching new highs all across Sydney, many of us are starting to question how great the Australian dream of owning your own home really is and if it is even possible.
However, many force themselves to see that owning their own home is the only option, with the alternative of renting, representing dead money and not building up any equity in an asset.
But in the recent years, in response to Sydney’s recent housing boom, many savvy households have adopted a third alternative to just simply renting or buying.
Their strategy involves renting in your current place of residence and having a mortgage for a portfolio of investment properties.
Clearly, this is an interesting alternative to the simple “rent or buy” decision and it comes with a number of very distinct advantages.
Firstly, the rent you pay for living in your own home over the long term will be less than paying the interest costs on a home loan for living in your own home.
Secondly, you are still able to build equity in your investment properties and often, these properties are able to provide better return on investment as you selected these properties, not because you wanted to live in them, but because they offer strong capital gains and rental return potential.
Furthermore, this strategy offsets much of the interest repayments of your mortgage with the rental returns of the investment properties whilst any losses are tax deductible.
Are you thinking about making the switch to a home ownership strategy such as this one? If you are or would like more information regarding it, contact a financial advisor who can help you determine whether or not this strategy best suits your financial needs.
In February of this year, I wrote an article explaining how property investors could completely avoid land tax by using multiple self managed super accounts to assure the total land value of their property portfolio would be spread. Hence, they will never exceed the tax-free threshold.
However, for those of us that may be unwilling to perform this strategy, there is another method that can exempt you from land tax.
Land tax is a form of taxation applied to the value of any land that is not an individual’s primary place of residence.
Since this tax is a state based tax, only the value of land in each individual state is considered. This allows you to have a larger portfolio in terms of land value and still avoid land tax if you purchase land in separate states.
Consider this hypothetical situation with Ali, who is a property investor.
Ali owns an investment property in Sydney valued at $310,000. He wants to expand his property portfolio with a property that has land valued at approximately $200,000. If he purchases this second property in New South Wales, he will be obliged to pay $1,348 in land tax as he will exceed the New South Wales land tax free threshold of $432,000 by $78,000.
However, if Ali purchases this second property in Queensland he will have land valued under the land tax free threshold of Queensland ($600,000) and New South Wales ($432,000) and hence be exempt from land tax.
If you are looking to expand your property portfolio, it is advised that you contact a financial advisor to see if you may be able to use this strategy to avoid land tax in your portfolio.
I find it a privilege to work with so many interesting and diverse clients ranging from organic farmers to brain surgeons. We even work with a few retired Accountants who have more colorful stories than one could ever imagine would come out of the mouth of an Accountant.
I have often thought it would be great to interview a few people and share their stories.
Sydney couple Scott and Kirsten Leys have been receiving financial advice from us over the past few years and over the past 12 months, they have worked very hard to launch their online gift shop business – Kaboodle Hampers.
We ask Scott and Kirsten 7 business and personal questions and hope that you enjoy reading.
I also encourage you to check out their website www.kaboodlehampers.com.au as it has many great gift ideas! There is also a promo code in the article for a 15% discount on your next order.
1 – Tell us about what your business does?
Kaboodle Hampers is an Australian online gift shop specialising in premium gift hampers designed to make someone’s day.
Our gourmet food & wine hampers and luxury pamper gift baskets are the perfect solution for anyone looking for unique gift ideas – whether it’s for your mum, best mate, top client or entire staff. And new parents will love our gift hampers filled with top-notch baby products.
Browse our online range of quality hampers at www.kaboodlehampers.com.au, place your order and have the hampers delivered to any address in Australia.
We deliver Australia-wide for only $9.95, dispatching orders daily from our Sydney office.
Need stylish hampers for your company or event? We offer branding options, gift customisation and bulk discounts. We’ll gladly source other products you’d like to include. See our corporate orders page.
2 – Why did you want to run a business in this field?
My ideal field of business would be one that has a positive effect on people, giving gifts to people always puts a smile on ones face. Combine that with an online business as online shopping is becoming increasingly popular, with 85% of Internet browsers purchase online these days.
After many months of research I decided I wanted to design and create hampers. I knew it was a competitive market though if I aim for quality in our products, service and customer service we would do really well.
3 – What do you enjoy most about the business?
The creativity of designing beautiful gifts for your families, friends, business colleagues and clients and knowing we are making people happy each day.
4 – What is the greatest opportunity and challenge that you currently face?
The door of opportunity opened for us Christmas 2014 which confirmed we had the winning ticket for opportunities with our hand picking quality products, and beautifully customised gift boxes. Our clients were very impressed!
The biggest challenge for Kaboodle Hampers is marketing and sales. There are so many ways to marketing a business and choosing what works for your business and in budget is our greatest challenge.
5 – What business advice can you give to others?
In all business you need qualified people in certain areas and finding those people is hard. Do your researches ask loads of question and maybe ask for trials. It did take some time though I’m now extremely fortunate enough to have a great team of professional who help in those areas.
6 – Can you provide any special offer to our readers?
Use Promo code ADVISOR to receive 15% of your next order. Valid 1 use per user.
7 – If you could spend one day as an animal, which animal would it be and why?
I would be a bird because their main duties are searching for tasty food and sightseeing. I have a great love for finer foods and after travelling for 4 years in my younger days, I continue to enjoy sightseeing and travelling the world.
In every decade there is one budget that ends up being a game-changer in Australia. The Budgets of 1988 (return to surplus), 1996 (spending reductions), 2000 (GST) were strategies that permanently altered the economic dynamics of the Australian economy.
This years Budget is likely to join this list, as it facilitates the move to smaller government, more infrastructure investment and less household dependency on government payments in the out-years.
However, don’t expect all the Budget changes to become law…
Given this Budget has many contentious spending cuts and tax increases, the path of the plan through the Australian Parliament won’t be as easy as it was in the Howard years or even for Gillard Government.
Indeed, at no time in the next three years will the Coalition have control of the Senate and given the unusually large, and split, cross bench the Budget is unlikely to get through the legislature unscathed. In the current Senate the Coalition has 34 seats and needs 39 to pass legislation. The ALP has 31and the Greens have 9 and there is one independent and democratic labour party member.
Supply bills will pass automatically, which is the standard operating procedures today, but changes in programs cuts or tax increases through the Senate is likely to be somewhat problematic, especially the deficit levy, fuel excise increase, pension growth decreases and healthcare copayments. The situation won’t improve with the new Senate in July either.
James’s 17 top areas of focus in Budget 2014
1. High income earners levy
A 2% levy will apply to those earning an income above $180,000. The impost is for three years only from 1 July 2014 to 30 June 2017 and means that those earning above $180,000 will pay the extra 2% levy on all income in excess of $180,000.
That is if you are earning $200,000 you will be faced with an additional 2% on $20,000 – a total levy of $400, or if you are earning $300,000 you will be paying a 2% impost on $120,000 – or $2400.
2. Healthcare to cost more
From 1 July 2015, previously bulk-billed patients can expect a charge of $7 per visit towards the cost of standard GP consultations and out-of-hospital pathology and imaging services.
For concessional patients and children under 16 years, the contribution will be limited to the first 10 visits each calendar year.
3. Age pension age to increase to 70 by 2035
The Budget confirmed the Treasurer’s earlier announcement that the age pension age will increase to age 70 by the year 2035. This means that those born on or after 1 January 1966 (currently 48 years of age or younger) will have to wait until they are 70 before they are eligible for the age pension.
4. Paid parental leave to commence
The government will proceed with the paid parental leave scheme from 1 July 2015. Under the scheme mothers will receive up to 26 weeks of salary up to a cap of $100,000 per annum.
This translates into a maximum payment of $50,000 over the 26 week period. Women earning over $100,000 a year will receive paid parental leave but it will be capped at an equivalent of $100,000 per annum. This scheme will be funded via a 1.5% levy on companies earning taxable income over $5 million.
5. Simplifying Medicare safety net arrangement
From 1 January 2016, a new Medicare Safety Net will replace the existing Original Medicare Safety Net, Extended Medicare Safety Net and Greatest Permissible Gap.
The new Medicare Safety Net will contribute towards out-of-pocket costs for Medicare eligible out-of-hospital services.
Once the annual thresholds have been met in a calendar year Medicare will pay 80% of any subsequent out-of-pocket costs, capped at 150% of the Medicare Benefit Schedule (MBS) fee.
The annual thresholds are:
- $400 for concessional singles and concessional families
- $700 for non-concessional FTB-A families and non-concessional singles
- $1,000 for everyone else.
6. Fuel excise to rise (except for aviation fuels) – indexation to be re-established
The government will secure funding for additional road infrastructure projects by re-introducing biannual indexation by the CPI of excise and excise-equivalent customs duty for all fuels except aviation fuels.
This will commence from 1 August 2014. The diesel fuel rebate is unchanged, meaning it will continue to apply to excise, including the excise increase.
7. Impact on Equity Markets
The sectors that will benefit most are in the transport and superannuation sectors.
Transport will benefit from the promise for funding to build or complete various road and rail infrastructure. This will be positive in the short and long term for construction companies (including Leighton LEI), and in the longer term for toll road operators (including TCL) and road and rail companies in general (TOL, Asciano AIO) when existing traffic bottlenecks are improved.
Significant opportunities from Government downsizing (outsourcing) and the sales of government departments. Banks like Macquarie Group will benefit from this activity via involvement of the sales.
Mining services companies are expected to be impacted from the forecast significant decline in resource related spending over the next few years (except for LNG projects, which are projected to remain strong).
Some negative impacts on consumer discretionary spending affecting companies like JB Hi Fi.
8. Business gains and losses
The Government remains committed to cutting the company tax rate by 1.5% from 1 July 2015 to 28.5%.
For companies earning more than $5,000,000 in taxable income, this reduction will be offset by the 1.5% levy to fund the paid parental leave scheme which also commences from 1 July 2015.
For small to medium businesses, it will provide a boost to profits.
9. Focus on pensions
Pension payments will have the asset and income test thresholds frozen for 3 years from 1 July 2017. The Government will index pensions to inflation rather than wages from September 2017, this is expected to reduce pension increases.
10. We will be contributing more super
The Super Guarantee will increase from 1 July 2014 to 9.5% (from 9.25% currently). Itwill then remain frozen for 4 years, after which it will increase 0.5% a year until it reaches 12% in July 2022.
11. And when you have to keep working…
The Government will introduce a new wage subsidy, Restart, to encourage businesses to employ Australians who are aged 50 and over and have been on income support for at least six months. Employers may receive up to $10,000 over 24 months in Government assistance.
12. The Government economic outlook
The government forecasts inflation of 2.25 per cent, below the RBA’s forecast range in fiscal 2015 of 2.5 per cent to 3.5 per cent.
The unemployment rate is forecast to lift to 6.25 per cent by the end of fiscal 2015, and remain around that level in 2015-16.
Treasury has forecast a A$29.8 billion deficit for the 12 months through June 2015, down from A$49.9 billion this fiscal year, with shortfalls narrowing in the following three years
The government expects the deficit to shrink to $2.8bn by 2017-18, with a return to surplus tipped for the end of the decade. The government projects surpluses to build to over one per cent of GDP by 2024-25.
13. Family Tax Benefit changes: two-year freeze on rates and other changes
The government will freeze the current Family Tax Benefit (FTB) payment rates for two years from 1 July 2014.
Under this measure, indexation of the maximum and base rates of FTB Part A and the rate of FTB Part B will be paused until 1 July 2016.
The Treasurer also announced other changes to FTB, including a reduction in the FTB Part B primary earner income limit from $150,000 per annum to $100,000 per annum, with effect from 1 July 2015.
14. Higher education – good and bad
The Government will reduce the minimum income threshold for repayment of Higher Education Loan Programme (HELP) debts from 1 July 2016. A new 2% repayment threshold will be set at 90% of the minimum 4% threshold that would otherwise have applied in 2016-17 (estimated to be $50,638). There will be no other change to current repayment rates.
Furthermore, the annual indexation method applied to HELP debts will be changed from the Consumer Price Index to a rate equivalent to the 10 year Australian Government bond yield (capped at 6.0% p.a.) from 1 June 2016.
On the other hand, from 1 July 2014, a tertiary loan system will be extended to TAFE students who will have access to 4-year concessional trade support loans tohelp them complete their trade course.
15. Option to withdraw excess non-concessional contributions
The government will give individuals the option of withdrawing excess non-concessional contributions made from 1 July 2013 and any associated earnings, with thoseearnings to be taxed at the individual’s marginal tax rate.
(Non-concessional contributions notably include non-deductible personal contributions made from a member’s after-tax income.)
Currently, superannuation contributions that exceed the non-concessional contributions cap are taxed punitively at 46.5%. The proposed new measure will bring the tax treatment of excess non-concessional contributions in line with that for excess concessional contributions, for which taxpayers already have a withdrawal option.
16. New assistance for small businesses
The government will establish the “Small Business and Family Enterprise Ombudsman” to act as a one-stop shop and a single entry point as a means for small businesses to find out about government services and programs.
A unit will also be setup in the Department of Finance to provide specialist advice on contracts and to ensure small businesses are not disadvantaged as part of Commonwealth departments’ tendering and procurement processes.
17. Reminder: Increase in the Medicare Levy from 1 July 2014
As per the 2013 Budget, the Medicare Levy will increase from 1.5% to 2.0% from 1 July 2014 to provide funding for Disability Care Australia. This measure has already been legislated
When you approach retirement, you begin to think about what you will do with all your free time. Go on holidays, tick boxes on your bucket list, learn to play an instrument because you never found the time before, or maybe keep working as you need to maintain social contact.
However, one thing to keep in mind is that retirement is like being on a weekend all year long. What happens most of your weekends? You spend money that you earned during the week.
To make the most of your retirement, you should think about your goals and priorities, and assess your retirement resources. Having goals is a good thing, but do you have enough resources to achieve them? In most cases, retirement may come from a mix of superannuation and Centrelink payments and that may not be sufficient to achieve your retirement dreams. So, you will either have to reduce your goals or try to keep working if you can still do so.
Furthermore, you may want to provide some financial assistance to your children or grandchildren to help them achieve their goals.
It is never too early to think about retirement, owing an investment property or contributing to your superannuation will provide you with the extra funds you need in retirement
Planning ahead will help you cover any unexpected expenses and assist you in achieving all your goals. If you have more money than you can spend in retirement, that’s always a good thing for your children.