Paul's Insights

It's time to dust off the calculator and start poring through receipts - tax time is around the corner, and that means a refund could soon be coming your way. The end of the financial year is also a time to take stock of your investment portfolio.

The COVID-19 pandemic has seen Australians hunker down their finances - spending less and tucking away more cash. That's seen our household savings rate jump from 3.5% (of income) in 2019, to 5.5% at present. But plenty of people could be missing out on easy ways to boost their bank balance.

The Reserve Bank's decision to keep the official cash rate on hold at 0.25% for June comes as no surprise. Our central bank has already made it clear that rates are likely to stay at record lows for some time - certainly until the economy picks up. That's great news for anyone with debt, though not so good if you rely on interest-bearing investments for income.

The idea of beating the market is always appealing, but is it possible?

Low interest rates are a big issue for anyone relying on income from bank deposits. But be wary of investments marketed as being 'like' term deposits - they can come with far more risk.

Since late February we've seen intense volatility on the Aussie sharemarket. This has driven a massive uptick in the number of people trying to make a quick buck on shares. But not many have succeeded.

COVID-19 has seen Australians deal with a lot of firsts - from social distancing and widespread workplace shutdowns to drive-thru health tests. The latest 'first' is negative oil prices.

Sharemarket falls can be especially challenging for retirees who don't have the benefit of ongoing super contributions to make up for negative returns. But your retirement savings may have weathered the recent market storms surprisingly well.

In response to the Coronavirus outbreak, the federal government has relaxed the rules around early access to super.

Sharemarkets have dished up a wild ride recently. But when prices fall it's a sure thing that bargain hunters will step in.

The coronavirus outbreak puts us firmly in extraordinary times. Mass lockdowns, social distancing and a widespread health threat are all new to us. But there is nothing new about volatility in investment markets.

There's never any shortage of macroeconomic commentary around investment markets. The trouble is, it's often confusing and a minefield of differing opinions. One expert says one thing; another says something very different.

First home buyers face a conundrum right now. Home loan interest rates are at record lows. But returns on savings accounts are also extremely low - and property values are on the rise.

Setting yourself up for financial success works best when you follow a financial plan, and in some cases, this can mean drawing on the support of a financial adviser. But be mindful of the fees.

Making money doesn't involve luck or knee jerk reactions. It's about planning and perspective. But sometimes the hardest part for investors is doing nothing at all.

Each year a new buzzword enters our conversations. This year's hot contender is 'neobank'.