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Interest Rate Announcement GOOD NEWS for Investors
News hot off the wires is that the RBA has just announced their decision to lower interest rates (down 25 basis points to 4.5%)!
Many more people are going to feel like they're winners this Melbourne Cup Day, with news that the Reserve Bank has announced this rate cut.
This is certainly going to be seen as very welcome news, not just for consumers, but for retailers and everyone thinking of buying or selling property.
"The Australian economy is heading for another period of strong growth early next year," says Paul Bloxham, chief economist for Australia and New Zealand at HSBC Holdings.
Elsewhere, a Reuters report in the Sydney Morning Herald suggests that minimal consumer inflation would be influential "..as a further sharp fall in the cost of fruit and vegetables helped offset higher petrol prices, adding to the case for a rate cut."
Naturally, there are many factors which suggest that Australians can be optimistic - the mining boom continues unabated, the level of unemployment is a fraction of that in much of the developed world and the dollar continues to be strong.
So, regardless of what horse you may have backed in the Melbourne Cup, if you're a mortgage holder, you can rest assured that you're going to be ahead of the game this summer.
It's good news for the property market and could be the momentum needed to kick start prices coming into 2012.
While it's not time to break open the champagne just yet, it's definitely time to revisit your immediate investing plans.
Of course, if we can help you with any advice or information, please feel free to contact us at any time.
Last Updated (Tuesday, 01 November 2011 05:26)
Would you pass the risk test?
We all face risks in our life and hope that a financial catastrophe will strike somewhere else. This is why it is critical to review your insurances regularly and ensure they still meet your needs.
• To reduce the risk in some way
Everyone is different and for that reason we recommend a periodic review with a risk management expert like your financial / risk adviser. To start with try this risk management test. (Print this page if it's easier)
Make sure you consider issues such as:
• The rising costs of re-building and replacing lost assets.
Use this grid as a starting point and make an appointment to see your financial / risk adviser who can ask the questions you have not thought of and advise you on possible solutions. Even if the analysis shows you have managed your risks effectively today, it will be worth reviewing on a regular basis to keep up with any changes to income, debts and investments.
There are many policies available that come under the ‘life insurance’ umbrella. Trying to sort out the best policy to protect you and your family can be daunting and Time consuming.
Seek professional advice when choosing an insurance policy. Contact me