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Client Info Session Part 1

John Grocke

 

A few weeks ago, Johnston Grocke held an information session for its clients. The information session was a Market Update, covering the global economy, shares, property and retirement. Watch in the following weeks for blogs from the speakers, summarising their thoughts and information presented on that night. John Grocke was one of the speakers at this event and below are some of his key messages. 

 

A significant number of superannuation changes were proposed by the government in the May federal budget. However, due to the then pending federal election they are yet to pass through both Houses of Parliament. There have been indications since the election that the Liberal party are receiving pressure from within to water down some of the proposed measures. At this point nothing is set in stone.

 

The proposed changes concern the maximum level of both pre-tax (salary sacrifice) and after-tax contributions i.e. reducing the cap from $35,000 to $25,000.  Also proposed are changes to the transition to retirement pension tax treatment which has the potential to make them less attractive. These changes have been proposed so that the transition to retirement pension continues to do what it was intended - that is, to provide a pension that allows older Australian’s to draw on their pension to support their income needs, while reducing their hours of work, and therefore helping them remain in the work force for a longer period of time.  Both parties seem to be in agreement to make changes to this arrangement of some kind.

 

John also discussed the global economic environment, mentioning that it is the most uncertain it has been since the GFC (global financial crisis.) Some of the reasons for this ongoing uncertainty can be put down to recent terror attacks globally, the Brexit referendum, and the upcoming elections in the U.S., France and Germany.

 

His main advice to combat all these changes and uncertainty was to make sure you take the time to review your investment strategy, understand the risks you are taking or willing to take, to meet your long term objective. This review should always be done with a trusted adviser.

 

If you are interested about our next client information session please don’t hesitate to contact us and register your interest.

 

 



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IMPORTANT NOTICE

On this entire website, information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

No representation is given, warranty made or responsibility taken about the accuracy, timeliness or completeness of information sourced from third parties. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

Anthony Klatt, John Grocke and Mathew Wilkshire are authorised representatives of Paragem Pty Ltd. Paragem Pty Ltd ABN 16 108 571 875, is the holder of Australian Financial Services License number 297276 and these authorised representatives trade as Johnston Grocke.

AG Finance Group is a Corporate Credit Representative (396686) of BLSSA Pty Ltd, ACN 117 651 760 (Australian Credit License Number 391237).