Ensuring your peace of mind

Ensuring you have peace of mind with personal insurance

Personal insurance can provide security against the unexpected events in life to protect and provide for your family. 

Recent changes might have impacted your cover. Life insurance policies within super accounts that have not received contributions for at least 16 months are being closed down from July 1st 2019. It’s important to check your cover in view of this and ensure that you maintain the appropriate level for your needs. 

Personal insurance includes different types of cover. Life insurance can leave your beneficiaries with a lump sum or income stream to help look after their financial wellbeing in your absence. Total and permanent disability (TPD) insurance can pay a benefit should you become unable to work due to illness or injury. Critical illness insurance can provide you with a lump sum if you suffer from a serious injury or illness. Income protection insurance can replace a portion of your income if you’re unable to work in the event of temporary disablement. 

As your life changes, so will your insurance needs. Talk to us to ensure you’ve got the right level of cover for your circumstances. We’re here to help if you need a hand.


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Personal Insurance – are you covered?

Personal insurance – are you covered? 

Under insurance is a significant concern for Australian households and can lead to financial hardship for individuals and their families. 

The median life insurance cover is generally only twice the median household income. However, those with young families may need up to eight times their family income to continue their present lifestyle if one parent were to die. Similarly, total and permanent disability (TPD) cover is generally only three times the median household income when four times is ideal. 

Personal insurance is a must for most people, but it will be of limited use if you don’t have adequate cover. By regularly reviewing your cover, you can better prepare for the unexpected and protect yourself and your loved ones. We’re here to help if you need a hand.


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Life changes, so should your insurance

Life changes, so should your insurance 

Insurance might not always be top of mind, but it’s important to review your policies regularly to ensure you’ve got the right cover for your circumstances. 

As your life changes, so will your insurance needs. You should consider reviewing your cover whenever your situation changes, such as taking on a mortgage, starting a family, getting married, getting a significant pay rise or a pay cut and retirement. 

We can work with you to ensure that your personal insurance provides you with the appropriate cover to support your loved ones and to ensure they live the life you had planned. We’re here to help if you need a hand.


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Maximising your super

Maximising your super 

Taking a few steps now to boost your super can make a big difference. Engage with your super and check your statements, locate lost or unclaimed super and consider consolidating multiple accounts. You can also make extra contributions. 

Salary sacrifice contributions are paid into super from your pre tax salary by your employer. 

Personal deductible contributions may be made after tax. Contributions into your spouse’s accounts are not tax deductible but, if eligible, you may get a tax offset.

For low income earners, it’s worth investigating federal government contributions and the low income tax offset. Watch your $25,000 concessional cap. A $25,000 cap applies to all pre tax contributions. This includes your employee contributions and any salary sacrificing. If you go above these limits, you may pay extra tax.

Catch up on concessional contributions. 

You can carry forward unused cap amounts for up to five years as of July 1st 2019. You must have a total super balance less than $500,000 on the previous June 30.

Review your super regularly to ensure that the investment options you have selected are right for your goals, time to retirement and comfort with risk. Super is one of the best ways to save over the long term.

We’re here to help you set yourself up for a long and happy retirement.


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Making diversification work for you

Making diversification work for you

Diversification involves spreading your investment portfolios across and within different asset classes, industries and geographic regions. Diversification manages the risk-reward trade off by selecting investments to assist you in achieving more consistent returns over time. Once you have a mix of investments that meet your needs, keep on track with regular checkups and rebalancing to remain in line with your risk profile.

Speak to us today to ensure your portfolio includes a diversified investment mix and is balanced and in line with your appetite for risk.


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Maintaining Focus during market events

Maintaining focus during market events 

Following a prolonged bull market, concerns over the economic impact of Covid-19 have caused a significant market correction and subsequent volatility. When markets are declining, there is temptation to sell and retreat to safer, more conservative options. However, selling as markets fall locks in losses and does not give you access to the inevitable recovery. It’s impossible to predict how long or severe a market correction will be, but history tells us that market corrections are ultimately followed by recoveries. 

It’s important to keep your financial goals in the front of your mind and not to get swept along by media reporting and fear. Remain calm and considered in your approach. Stick to the fundamentals of good investing and maintain an approach that takes into consideration your situation and your comfort with risk. Investing always carries an element of risk, regardless of how well you manage it. 

We can work with you to ensure that your investment approach is appropriate to your situation, goals and tolerance for risk.

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Balancing Risk and Return

Balancing risk and return 

When it comes to investing, there is generally a trade off between risk and return. High potential returns usually come with greater volatility and higher risks. Shares are a classic example of a high risk-high return investment that can provide less stable returns. A bank account is a good example of a low risk investment that offers lower, but stable returns. 

Risk is inevitable when investing, but there are ways to manage it. Comfort with risk differs between individuals, circumstances and over time. 

Understanding your risk profile

To be successful in investing, you must understand your tolerance or appetite for risk and structure your investments accordingly. Time is your friend – longer time frames can work to minimise short term volatility. While your investments may experience short term fluctuations, over a longer time frame, your investment performance will generally show a consistent trend. longer periods may also give your investments time to gain back any losses. 

Diversification spreads risk 

Diversification involves spreading your investment portfolio across and within different asset classes, industries and geographic regions. Applying the principle of diversification to your investments mitigates risk by reducing the impact of economic poor performance in one area. 

Investing always carries an element of risk regardless of how well you manage it. We can work with you to ensure that your approach to investing is appropriate to your situation, goals and tolerance for risk.


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Creating a Strategy for Success

Creating a strategy for success

What do you want out of life? While it’s great to have a vision of what we want our lives to be like, without clear goals and a plan to achieve them our dreams  are likely to remain just that. It’s never too late to turn your ambitions and plans into achievable financial goals.

The first step to achieving your goals is to come up with a strategy which is SMART; Specific, Measurable, Achievable, Relevant and Timely. It’s also a good idea to have someone on your side, helping you stay on target. We are here to help you achieve your ideal future.


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Taking Control of your Finances

Taking control of your finances

Do you know where your money goes? If you don’t, you’re not alone. 86% of Australians don’t know how much they spend each month. That’s where a budget comes in handy. A budget is critical for helping you achieve your goals, giving you a picture of how much cash you have coming in and going out, providing a snapshot of where you are financially and a roadmap for where you’re going, allowing you to adjust and align your budget to achieve your goals. 

Get started by downloading our free Sherlock Wealth portal from the App store or heading to our portal page on the website.


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Over the years, we have come to rely on Sherlock Wealth to take care of all our financial affairs and to see Andrew as

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We wanted to express our enormous thanks to you and your team. First of all for your sage advice in terms of the

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