Volume 7 Edition 10 Financial Care Services Newsletter
Financial Care Services Newsletter by Christine Hopper
Independent aged care, lifestyle and financial advice for seniors
Volume 7 Edition 10 – 31 October 2017
Socially responsible ethical investing
Do you care about how your shareholder dividend income is earned? Would you be upset if your shareholder dividend payment was bigger because more poker machines were installed in pubs and clubs?
You can choose to invest only in wholesome activities. Ethical share funds do not invest in companies involved in the alcohol, gambling, adult entertainment, tobacco or armaments industries.
Socially responsible investment (SRI) funds generally exclude the tobacco industry and any activities that cause harm to the earth; land, sea or air quality. Your SRI superannuation option could be sourcing its profits from adult entertainment and casinos; these activities do not damage the natural environment.
Ethical share funds also apply a positive screen to the companies considered for your investment. The positive screen looks for good governance and management practices together with non-exploitative staffing. This positive screen is in addition to the negative screen for activities harmful to people or the environment.
Read more about socially responsible ethical share funds
Socially responsible and ethical investments are available for both your superannuation and direct investment.
The Approved Product List for Financial Care Services includes two fund managers offering socially responsible ethical investment options.
Christine at Financial Care Services is licensed to provide personal financial and investment advice to individuals. She can help you choose wholesome investment options consistent with your values.
Financial Care Services your independent financial adviser
Financial Care Services is an independent financial advisory service specialising in retirees of modest means and aged care entrants. Our core values of working with clients in their lifetime financial planning supports you in investing according to your values and cash flow needs.
Financial Care Services charges fees based on the work involved in advising you. Standard dollar amount fees are charged for retirement planning and Statements of Advice for investing client funds. Financial Care Services does not levy fees based on the value of your assets.
To make an appointment for confidential, independent and professional advice about investment, retirement lifestyle or financial issues please contact Christine Hopper or call +61 3 9808 0338.
Granny Flat Arrangements Explained
Are you on LinkedIn? If so, I encourage you to connect with me personally at https://www.linkedin.com/in/christinehopper1/
You are also welcome to read my first article published on LinkedIn, Granny Flat Arrangements Explained.
All LinkedIn articles in the future will be publicly available at https://www.linkedin.com/today/author/christinehopper1
Deemed investment income at Centrelink
For the DSP and Age Pension Income Tests, Centrelink use your ‘deemed financial income’ rather than your actual income from investments.
The current Centrelink deemed interest rates are 1.75% per annum on the first tranche of your financial assets and 3.25% per annum on any excess. The changeover is at $50,200 of financial assets for a single person. For a couple, the changeover is at $83,400 of their total combined financial assets.
Your financial assets include your bank accounts, shareholdings and other financial investments together with any ‘excess gift’ amounts. Once you attain your Age Pension Age you would expect your superannuation account balances to be counted as ‘financial assets’. Some allocated pension superannuation income streams established before 2015 retain their ‘income stream’ status at Centrelink.
Consider John and Jenny who have financial assets of $150,000. Their deemed financial income is $3,624 per annum. The calculation of their deemed financial income is 1.75% of the first $83,400 of financial assets plus 3.25% of financial assets in excess of $83,400, that is, $66,600 at 3.25%.
Remember that the deemed interest rates used at Centrelink can be changed by the Commonwealth at any time. An increase in your deemed financial income could reduce your Age Pension.
Financial Care Services offers Short Consultations for ‘personal financial factual information’ to help you check your financial position against the means tests for an Age Pension or Commonwealth Seniors Health Card.
You can start by emailing us for the Financial Care Services Financial Services Guide and Age Pension Data Illustration Personal Data form. You will also receive our Financial Services Guide that provides essential information about Financial Care Services.
The fee for a Short Consultation 45 minutes in person or by telephone and/or email for ‘personal financial factual information’ is $99.
Christine can also assist you with collating your personal data, estimating how much Pension or Carer Payment you could expect to receive and completing the Centrelink forms for you to sign. Normal hourly rate consultation fees apply for assistance with personal data collation, completing Centrelink forms and attendance at a Centrelink office with you.
Your feedback please
Satisfied clients are our greatest ‘advertisement’. Our clients regularly provide wonderful verbal reviews, but we also welcome written reviews and if you would like to share your thoughts, please visit our Reviews page. Please tell us and other families how Christine at Financial Care Services helped you through the challenges of aged care entry.
Other seniors want to know that you were guided through the wonders of Centrelink Pensions and retirement village or aged care entry.
Financial Care Services Pty Ltd
Independent aged care, lifestyle and financial advice for seniors in Melbourne, Victoria, Australia
Australian Financial Services Licence Number
299570 (check this at www.search.asic.gov.au/fsr/flb.html)
Authorised Representative Number 252529 (check this at www.search.asic.gov.au/fsr/far.html)
Telephone – call +61 3 9808 0338
Email – contact email@example.com
Address – mail to 172 Warrigal Road, Camberwell Victoria 3124
Website – visit financialcareservices.com.au
LinkedIn – connect https://www.linkedin.com/in/christinehopper1
LinkedIn Company – follow https://www.linkedin.com/company/financial-care-services/
Facebook Page – like https://www.facebook.com/fincareservice
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Past newsletters – see http://financialcareservices.com.au/newsletters/
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Disclaimer: The information contained in this newsletter is of a general nature only and does not constitute “financial advice”. You should obtain your own personal financial advice before investing any money or moving in to any retirement village, lifestyle community or aged care facility. Financial Care Services is licensed to provide financial advice to individual clients based on their personal situations.
All eligibility for Commonwealth benefits will be determined by Centrelink or DVA, based on your personal position as documented and the legislation and Regulations in force at that time.
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