July is here along with the winter chill. But July also signals the start of a new financial year and chances are most Australians are happy to say goodbye to the last one. This year more than ever it’s a great time to plan your finances for the year ahead, to rebuild or make the most of the savings you have made during months of social isolation.
I apologise in advance as this is a longer read than usual but there is quite a bit going on so I wanted to go into a little more depth than usual.
Made famous by ‘Chicken Little’, and his concern that the sky was falling, you don’t have to look far to get worried.
We can list some majors pretty easily…
A lot of people would probably like to forget 19_20 but its impacts will continue to be felt. As we suspected back in March, we will still be dealing with this pandemic for some time and that has flow on effects for investment markets and certainly for Australian’s, their jobs and business’ and the world and Australian economy.
Winter is here and we are almost to the end of another financial year. And what a year it’s been! With so many Australians impacted by fires, floods, drought and now COVID-19, let’s hope the new financial year sees a return to something like normality…
Lump Sum (one-off) Withdrawals
If you are planning any large acquisitions in July that will require drawing down on your investments, superannuation or pension accounts, please be aware that most investment managers delay redemptions in the first weeks of the new financial year as they finalise their end of year accounts.Read More