Only this week I had an appointment with a son whose mother was moving into an aged care residence.

As she had a large amount of money in the bank then it actually reduced her pension income by about 2000 p.a which is almost a 10 % reduction.

 There are so many of you who have funds in the bank that could be optimised elsewhere.

There are legitimate reasons to have a useful amount in the bank but there is a cost to your income and everyone needs more income.

 The two big reasons for cash in the bank is safety & liquidity.

However, only yesterday did the NAB reduce its dividend by 16c to protect the bank for future events.

The government only guarantees your funds in the bank up to 250,000 & where does the government funds for doing so come from?

Certainly there have been many bank failures although not so here but because of fractional banking it always could.

The safety concern is also answered by being on an Approved product List APL which all licensed & authorised representatives can only recommend & advise on.

These are reviewed not only by the Authorised Dealer RIAA in my case but also by the PI insurer as they don't want to pay out on claims of products.

No one wants to lose.

The other concern is liquidity & there are multiple options that have a high degree of liquidity.

Other options may not be or for a fixed term & these are all very carefully defined & explained in its document PDS Product Disclosure Statement.

Your property is NOT liquid & that even means your other assets including your car.

So today I have answers to how to have double your income from that cash in the bank

e.g a 5 % Capital Guaranteed & taxx free & it will be for life if before June 30 if you qualify

This won’t be available again certainly with interest rates expected to remain as they are or even move lower in the short term.

It also has income & asset test advantages.

Another option is a monthly income trust currently averaging

‘For the month ended 31 March 2019, investors with units in the Monthly Income Trust (Trust) received a net distribution rate equivalent to 7.70% per annum1.’

If you need more income then there maybe a simple solution for you & it is certainly worthwhile running your numbers if you want to do more travelling as others are this month, care for the grandchildren, pay for those medical & dental challenges & even live less frugally.

Remember I help you to improve the Money you deserve when you retire by modelling your situation on what can be best achieved on the calculators available.

PM John McAuliffe or call  on 3848 1088 or contact on This email address is being protected from spambots. You need JavaScript enabled to view it.