The Latest News and Views from Ascent Wealth Management

Here we are again with another News and Views. We're well into October and the Christmas festivities are just around the corner (at least as told by the major retailers out there!)

Our markets have experienced some increased levels of volatility around familiar themes. Trade wars, additional stimulus (debt) in China to conteract the effects of said trade war, and an ebullient Donald Trump throughout it all are key features. On the positive side, our jobs growth has been very positive as has our overall economic growth. Fundamentals are improving, but as 360 Research highlight, there are always things to watch.

On the home front, we look at the advantages to be gained by having a coordinated approach between spouses in managing the household finances. On a purely practical basis, understanding the full picture of money in and money out is crucial to managing the budget. Looking at future planning, utilising spouse contributions to super and making the most of concessional contributions where one of the couple has had time out being the primary carer is essential to maximising your outcomes in retirement.

Sometimes, current financial needs can seem insurmountable, and with super sitting there as "untouchable" unless in exceptional circumstances things can seem quite frustrating. Unfortunately there are businesses out there that offer to assist super members with early release of benefits. Naturally getting money now that has been set aside for retirement will put you behind the eight ball and should be avoided. We've helped a number of people manage their budget to better overcome short term crisis. Super early release schemes are illegal and thankfully our regulators are applying resources to stamping it out. There is an alternative !

One of the reasons some struggle managing the budget is the constant approach of charities on households. There are many great causes out there (I know I've collected over the years from many of you for MS Queensland). How do you discern where to put your money? My next article proposes a framework for optimising your choice of charitable giving. I'll be on my bike again in June 2019 for the MS bike ride, and I'll talk to you more about it closer to the time !

How many of you have been caught short at the supermarket without your own bags now they are no longer provided? I recent trip to the local takeway proved to be an exercise in juggling for me to get our families meal home without the previously provided plastic bag. So I now know from personal experience that pre planning is essential. But how do we go further to reduce plastic in the home? Our next article gives us some strategies; now we've all (myself included) got a mindset change, as plastic bags are not coming back.

Lastly, Nab have commenced calling clients of the group (this includes clients of MLC) to confirm the details held on file. This is in the light of the latest changes to Privacy Legislation. These phone calls are legitimate; but if you are unsure they will follow up with a letter (sent by post) where they can't speak to you and ask you to call in. I know it is concerning to get this type of requests by phone; I thought I'd just set people at ease.

Have a great month, as always if you need us Katrina and I are just a phone call away.

ThreeSixty Research Market Update - October 2018

Highlights:

The US economy is set to repeat the robust GDP growth achieved in the June quarter, although the figures may be boosted by short-term effects.
The signing of a trade deal between the US, Mexico and Canada has managed to settle some nerves, but trade remains a key issue for investors.
For the first half of 2018, Australia’s GDP expanded at an annualised pace of 4.0%, challenging the US economy for the strongest rate of growth in the developed world.
Australia’s labour market added 44,000 jobs in August, allaying fears of a slowdown in employment growth.
China is combatting lower growth with fiscal and monetary stimulus, but easing has contributed to lower market interest rates and a falling yuan.

If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly on (07) 3343 9228

Read full October 2018 market update report >>

Smart spouse investing

Spouses have clear motivations to at least consider the potential benefits of taking a co-ordinated approach to savings and investing – as well as in dealing with their day-to-day budgeting.

Guard your super

Critical challenges for super fund members in the accumulation phase are to keep their savings intact and to keep adding to those savings when possible with voluntary contributions.

Spending money for good

With thousands of charities competing for your donation, it's important to do some research to make sure your money is being used for the cause you want to support.

9 Ways To Minimize Plastic In Your Home

We live in a world of plastic. Plastic cups, bottles, plates, packaging – our plastic society is putting the world's ecosystem at risk, but there are some simple steps we can take to change our wasteful habits.

Ascent Wealth Management Pty Ltd, Stephen Nielsen and Gavin Hammond are Authorised Representative of GWM Adviser Services Limited, ABN 96 002 071 749, AFSL number 230692 an Australian Financial Services Licensee, Registered office at 105-153 Miller Street, North Sydney, NSW, 2060 and a member of the National Australia Group of companies.

This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax and/or legal advice prior to acting on this information. The material contained in this newsletter is based on information received in good faith from sources within the market, and on our understanding of legislation and Government press releases at the date of publication, which are believed to be reliable and accurate. Opinions constitute our judgement at the time of issue and are subject to change. Neither, the Licensee or any of the National Australia group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this email.

Room 3, Corporate House, Building 6, Garden City Office Park, 2404 Logan Road, Eight Mile Plains QLD 4113
(07) 3343 9228

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