Recap: Freelancer Financial Wellbeing Event with Macquarie Bank & Future Super

Late last year, we launched partnerships with some of Australia‘s most innovative financial institutions to help improve the financial wellbeing of our Expert community. We want to drive change in the financial and insurance industries to ensure it better serves the needs of freelancers, be it through tailored products or education to improve personal cash management.

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If you missed the first event in our Education Series on March 28th, we've recapped the night's proceedings below, along with a video of the presentations from our partners, Macquarie Bank & Future Super.

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Cameron Harris, Macquarie Group’s Director in Personal Banking, clearly outlined key considerations independents should take in order to make their personal banking products work harder for them.

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Key takeaways from Cameron Harris’ presentation:

• Keeping your personal expenses separate from business.
• When/if applying for a home loan or credit card, be conscious of the different earning & spending behaviours banks assess when considering applications.
• Don’t underestimate the important role of a trusted accountant in applying for home loan & credit card applications.

Kirstin Hunter, Managing Director of Future Super, had four main recommendations for Experts in order to get their superannuation in order:

• See the Future: Know what you’ll need to retire and work backwards from there (approximately 50-75% of your pre-retirement income per year).
• Use tax to your advantage: Make the most of superannuation tax concessions for voluntary super contributions on the first $25K contributed each year.
• Start now: Manage your cash flow today to provide for future you. Investing just $40 per week into your super from 25 years old will leave you $125K better off at retirement than $100 per week from age 40.
• Choose wisely: Select the super fund that can best provide the future you want to retire into.

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