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.

Senior Australian lady purchasing property financial advisor

Purchasing a property later in life

Home ownership continues to be our Great Dream, yet according to domain.com.au, many of us are investing in bricks and mortar much later in life. So, what does it take to bring this dream to life with retirement looming? Here are some property tips from a financial advisor. There are many reasons you might purchase a home later in life: perhaps you’re starting fresh post-divorce, or you own a home and have decided to buy a second property to help…

Financial advice on self managed super fund for Australians

Am I too young to manage my super?

A Self-Managed Super Fund is among the fastest growing superannuation vehicles in Australia and they’re not just for older investors – investment-savvy Millennials are catching on. The Australian Taxation Office (ATO) reports that significant numbers of people below the age of 45 are investing through Self-managed Super Funds (SMSFs). The proportion of SMSF members in that cohort was around 13.5% over the twelve months to December 2022. Historically, SMSFs were considered the province of only the rich. However, as set-up fees and running costs decrease, younger people are viewing SMSFs…

Employee or contractor the differences fair work ombudsman financial advisor

Employee or contractor? There is a difference.

I can understand during difficult economic times that business owners search for ways to reduce their costs and outgoings, but when those decisions affect others detrimentally, that’s when I get cranky. It all stems from knowing the difference between an employee and a contractor. Recently I had a phone call from a client who had been retrenched six months ago. Although this man is very skilled and talented, he has been struggling to find full-time work in his chosen profession.…

Assets test income test age pension family home financial advisor tips

How the family home can affect aged care fees

Knowing how to reduce assets for aged care is an important financial consideration today. Residential aged care is playing an increasing role in helping many older Australians enjoy comfortable and carefree lives. However, one of the tasks for anyone assisting an elderly relative with the move into aged care is to investigate the various fees and charges, some of which are subject to both assets and income means tests. As the family home is often the largest asset and can…

Suddenly single later in life superannuation and retirement planning advice for Australians

Superannuation for the suddenly single

Found yourself separated and suddenly single later in life? Life often has different plans for us than we may have imagined and it could put pressure on our retirement plan and superannuation. Life after divorce (or separation) might bring with it a whole range of new things, including the need to rediscover yourself, dipping your toe back in the dating pool (hellooo Tinder) and revisiting your plans for the future, in particular, your financial plans. An essential financial aspect to…

Family future fund savings option financial advice advisor

Building your ‘Family Future Fund’

How much does it cost to raise a child? Obviously the answer is highly dependent on individual circumstances. However, as a guide, a 2013 national study[1] found that a typical middle income family would spend about $812,000 on raising two children from birth to age 24. At that time child-raising costs were increasing at around 9% per annum, so it’s a reasonable estimate that these days the cost of getting two kids to the point where they’re ready to leave…

Beat the scammers scamwatch financial advisor

Beat the scammers at their own game

We’ve all seen media reports about ordinary Australians losing their entire savings after responding to a phone, email or mail offer that was impossible to resist. While some people may be naïve, scammers targeting Australia are also getting smarter. Financial stings have become a serious threat to Australian consumers and businesses. According to the ACCC’s Scamwatch website, there were 161,582 reports of scam in 2017, for a total loss of more than $90 million! All shapes and sizes Identity theft…

Australian couple anticipating market volatility in their investment portfolio

Positioning your portfolio in turbulent times

As any experienced investor knows, all investment markets have their ups and downs. Regardless of investor experience, turbulent times are a cause of anxiety, and that can lead to poor decision-making. So if turbulent markets are inevitable, even if their timing is not predictable, how should your portfolio be positioned in anticipation of, and in response to market volatility? What’s your objective? First up, it’s important to go back to your investment objective. Is it to grow wealth over the medium…

Plan now incase you become redundant or lose your job. It is good financial management.

Have a plan – just in case

It’s an old saying but it will be forever true – “the only constant in life is change”. Whether it’s due to economic downturns, new technology or extreme weather disasters; no business, job or career will ever stay the same. And it’s impossible to know what might happen in the coming months or years in your career or industry. Although the thought of planning now for a time when your skills might become redundant or your employment suddenly ends for other…

Financial advice on dividend reinvestment plans

The art of dividend reinvestment

The real power of investment comes from compounding returns – the process of putting your investment income straight back to work so it can earn more income. To help their investors reap the rewards of compounding, many companies offer dividend reinvestment plans (DRPs). The potential benefits of a DRP Under a DRP, investors can choose to use some or all of their dividends to automatically purchase additional shares in the company. As a sweetener, investors avoid brokerage, and some companies…