Darren Titmus, Author at Financial Planning QLD

Darren Titmus

Obsessed with helping people achieve their own financial freedom through practical strategies and tips that really work, Darren Titmus built Financial Planning Qld to provide strategic financial planning.

The Risk of Losing your Home

Many Australians have suddenly found themselves struggling to meet their mortgage repayments from a home loan that started with low interest rates. And the number of Australians in this situation is growing. Research by the University of NSW suggests the proportion of households in financial stress has surged to 42% this year, up sharply on the start of 2020, when less than a third of households were in financial stress. In addition, calculations by the fintech company, Digital Finance Analytics,…

Australian couple investing home deposit to buy a home

Should you invest your house deposit?

It’s been fairly challenging to put a deposit together. With house prices very high, it’s forcing homebuyers to come up with bigger deposit amounts. When the traditional savings vehicles of homebuyers – savings accounts and term deposits – offer only token rates of interest, aspiring homebuyers start to ask themselves what can they do to build their deposit more quickly? This is the situation that Simon and Heather find themselves in. They’ve made a solid start on saving for a…

Buying your children a home – good idea or bad?

Are you an Australian parent considering buying a home under your child’s name? This can be a smart way to plan for their future, secure financial stability, and even reduce tax burdens. In Australia, purchasing property in your child’s name is becoming more popular as parents look for ways to create generational wealth and prepare for rising property values. However, it’s essential to understand the Australian tax laws, potential capital gains implications, and legal requirements that come with this decision.…

When is a law not a law?

When governments propose changes to laws, many people mistakenly believe that law is already in place however, the path from proposal to law is not as straight-forward as you might think. When an unpopular or contentious bill is announced, perhaps because of the attention it receives from the media, everyday Australians are sometimes led to believe the declaration heralds a done deal, but this is usually far from the truth. Here’s a good example As part of the 2014 Federal…

The financial effects of divorce after 50

With Australians marrying later in life and staying married for longer, the median age of divorce has risen over the last 20 years. It now stands at 45.3 years for males and 42.7 years for females. Couples who remain together into their 50s experience a lower divorce rate than younger age groups, but even so this age group still represents around 30% of all permanent splits. While divorce carries a heavy emotional burden at any age, the financial stakes for…

Investing in property. What you need to know

It is no secret that Australians love investing in property. And while property investing can be an exciting prospect, it is essential to consider the finer details before jumping in, especially any ongoing costs and expenses you’ll have to pay. Investment property tax deductions It is vital that you’re aware of what you can and cannot claim as a tax deduction as a landlord. For starters, did you know there is a difference between repairs and maintenance completed on the…

When your home loan application is rejected

Tired of paying rent to a lazy landlord and watching your friends become homeowners, you crunch the numbers and figure out you can get a home loan at an interest rate of 3.7% per annum. After sifting through the auction results and doing your sums you calculate that you’ll need a home loan of $400,000 to buy a desirable property with an acceptable commuting distance to work. You plug the numbers into the MoneySmart mortgage calculator and it tells you…

Retirement plan financial advice

As we approach retirement some people start to panic a little wondering if they are truly looking forward to the time of their life when they no longer have to work. Is your retirement plan ready? All of a sudden something they have been pining for is becoming real! Instead of worrying, have a read of the following tips and if necessary, act now. After all, it’s your future – and it could be here sooner than you think. 1:…

Physical and digital assets diversification

Digital vs Physical Assets

Not a day goes by where we don’t hear about bitcoin in the news or from a friend who has a hot tip on a new cryptocurrency. The past few years have seen an increase in the popularity of digital assets such as cryptocurrency and Non Fungible Tokens (NFTs). Direct shares and managed funds are also digital assets. What about physical assets? Well, this does not diminish the value of physical assets such as property, gold and cash. There are…

New Year resolutions for small businesses

As New Year resolution time rolls around spare a thought for your business, because every business can benefit from a few resolutions of its own. Here are a few ideas that any business can build some New Year resolutions around. Make sure you have an up to date business plan. Many business plans sit gathering dust on a shelf, or haven’t even been committed to paper. But a well thought out, written and effectively implemented business plan is an invaluable…