Our Last Meeting - Rebecca Hurford - Infocus Financial Planning

Sergeant Richard introduced Chair for the Chris as the “man mountain”
(We all look up to Chris)

Chris welcomed out “happy faces” and guests Ivy, Judy’s granddaughter, and Rebecca, our guest speaker
 
Dave proposed the International Toast to to the Rotary Club of Dingolfing, home of one of the factories where they make BMWs

BMW’s production has expanded a lot in the late 20th century. For decades, BMW cars were manufactured only in Germany – formerly, Eisenach, and later Munich and Dingolfing. But today, BMW manufactures vehicles in fifteen different countries, using a network of 31 production sites. Each of these plants produce unique vehicles for different markets.
 
Thanks for the photos Dave
 
Presidents Report
  • President Deborah is looking to attendees for the ROMAC Trivia Challenge. $30 per person – desert only.
  • The  black and gold elegant fundraiser on the 8th Feb was cancelled
Judy welcomed Rebecca

She has had 30 years experience financial planning starting in 1992 with Noel Whittaker
She has been with the ANZ bank as a senior financial advisor and was part of the Queensland State Leadership team

She's just getting over dealing with 100 teenagers last night she is an Air Force cadet volunteer and now commands the Squadron
Infocus do  a wide range of financial planning, but focus on retirement
 
Banana test – employee closest to retirement
 
Keys:
Capital
Investing
Longevity
How much do I need?
Impact of inflation
Having to move
 
Longevity – outliving wealth and having to rely on family and friends, having to live frugally
 
Is $1 million enough?
 
Slides: savings targets on your own
$62,000 a year increases to 87 per year
45,000 is the age pension
You need 421,000, due to pension
 
$1,450,000 is the cut-off for the pension
It doesn't include your house
 
Aged care – "another story”
First of July – new rules“
 
Investment options
  • Super
  • Annuities
  • Managed fund
  • Bank deposit
  • Direct Shares
  • Direct Property
One fund she looked at had 84% of assets in shares and property, which led to big swings
 
Accumulation phase 15% tax
At 60, you have access to the pension
Tax free, zero tax,
But tax exempt is best
Post 60 and still working
Super is just "a different structure”
 
Bitcoin – password is important
 
Fears
  • Living longer
  • Enough capital
  • Under expended
  • Help loved ones
  • Care in later years
  • Death taxes
 
How long do we live? – graph shows a big difference between 1992 and now
 
Chris – "very interesting”
 
Richard - are males or females more aggressive in investing - answer females are more aggressive, but they tend to have less in super
 
Mark asked about and undated documents - sounded a bit suss
Something about withdrawing it all and sticking it in the bank just before you die
 
Tracy asked about self managed
 
Chris asked about self managed funds and whether there was “angst"
 
Stephen asked how much the planning fee was – $5000 for a "simple" situation
 
 
Directors
 
Bob - chickens are coming home
International exchange Kate O’Farrell going to Japan - that's how you spell it Kate
There will be incoming student mid year – need three host families
 
Elaine next week - Cathy Booth – orphanage
Coming up - Chris will be speaking on environmental matters
Golden Beach Community Garden
 
April is vocational month – Roger will organise a visit to the WindanSea Community Clubhouse
 
Mark – International – Grant applications for District Funds 2025/6 -needs funds
 
Deborah -District Conference in Toowoomba
 
Sergeant Richard "learn something every day"
And he thought death tax were the little nails that hold the coffin lid on
 
Chris closed the meeting
 
Graffiti