Relate’s Post

The Budget has earmarked $1.1 billion to cover superannuation contributions for individuals on government-funded Paid Parental Leave. This will be effective for parents of children born or adopted after 1 July 2025. Payments will begin flowing into parents’ super funds annually, starting 1 July 2026. The government’s objective is to reduce the toll that taking career breaks for childcare typically has on superannuation balances. Expected to help 180,000 families annually, this initiative will hopefully provide a cushion against the long-term effects on parents’ retirement savings. #FederalBudget #budget #superannuation #paidleave

Pensions might not be front of mind when you’re thinking about starting a family, but there are things you can do to plan ahead and reduce the impact on your pension: 💷 Pay in a bit more before children come along 👫 Split childcare costs with your partner 🍼 Share parental leave 💰 Discuss pension top-ups with your partner Find out more on how to #BeatTheGap http://spr.ly/6048k1rN0 #IWD2024

Childcare or eldercare costs can be more than 20% of an employee's budget. Offering a family care benefit ensures employees receive the social assistance and tax benefits they qualify for, since financial stressors are affecting all employees. https://lnkd.in/emkx3N62

Case Study: Young Accumulator Alongside planning for retirement and their children's college education, this couple aimed to secure funds for a potential second home, future trips, and increasing childcare expenses with the arrival of their second child. However, they encountered challenges such as having most of their savings in cash, holding a significant amount of employee stock, and lacking a tax-efficient savings vehicle. Our approach involved identifying their diverse short and long-term objectives and devising a flexible financial plan tailored to their needs, ultimately guiding them toward a successful path to achieving their goals. Through strategic investment strategies and personalized financial advice, we helped equip them to navigate their financial journey with confidence and clarity. Explore the full case or get in touch today, at https://lnkd.in/eNEXGh-S #LRVS #LRVSAdvisory #BostonMA #WealthManagement #InvestmentManagement #WealthAdvisors #FinancialPlanning #RetirementPlanning #CompanyBenefitsPlanning #YourFamilyCFO #LRVSCaseStudy #CaseStudy #YoungAccumulator #StartYourFinancialJourney

Becoming a parent is a life-changing event, and it brings new financial responsibilities along with it. Here’s how to start: 1. Budget for New Expenses Childcare, such as daycare, is often the first major cost that comes to mind, but you’ll also need to budget for future expenses. Balancing these with your regular household spending is key. 2. Maintain Savings Despite the new financial demands, aim to continue saving at least 20% of your gross income. This ensures you stay on track with long-term goals, like retirement, even as your family grows. 3. Plan for Future Needs From education savings to potential medical costs, having a plan in place can help alleviate financial stress down the road. By budgeting carefully and sticking to your savings goals, you can provide financial security for both your growing family and your future.

Last week marked a pivotal moment for working parents across Australia - the federal government announced that from July next year, superannuation will be paid on top of the government-funded Paid Parental Leave. This decision aims to mitigate the impact of parental leave on retirement outcomes, a move that is both welcomed and celebrated by us at legalsuper. We believe that taking time out of the workforce to raise children shouldn’t mean compromising on future financial security and retirement outcomes, so we have stayed ahead of the curve by contributing to superannuation for both paid and unpaid parental leave, ensuring our team doesn’t have to choose between family and future financial stability. With the power of compound interest, these contributions are more than just numbers; they represent a secure future and peace of mind for countless Australians. #paidleave #genderequality #superannuation #paidparentalleave #super #superannuation #supergap

Why should she has taken 50 Policy of only 1 company. Because of Trust and Gaurantee. She is independent, she can take her own decisions. Do You? Call us today on 90160 97704. And ●Plan your Retirement financial independancy. ●Plan your Child's Educational Funding. ● Do Analysis of current investment. #LIC #financialprotection #family #investment #Guaranteed #Returns #savingsgoals #savings #portfolio #childcare #childdevelopment #pension #retirementplanning

How to promote more EDI - make sure those that do most of the emotional labour as parents are supported.

To build a truly thriving and equitable economy for all Americans, we must prioritize the financial security and economic inclusion of America's 53 million family caregivers. That's why I was excited to see this piece in Kiplinger Personal Finance leverage National Alliance for Caregiving and AARP #CaregivingIntheUS research to highlight the power of paid family leave and tax credits to build a brighter economic future for family caregivers. According to our research, "half of caregivers have experienced a financial setback, including reducing contributions to retirement savings or dipping into personal savings or retirement savings plans." Read more here: https://lnkd.in/ggaP5jJ9 #Caregivers #EconomicInclusion #PaidLeave #TaxCredits #CaregiverNation #ActOnRAISE