Michael McGowan - Financial Planning

10/08/2025

You want to help.

Maybe it’s your kids trying to buy a house.

Maybe the grandkids need support with school or just life in general.

You say yes because you love them.

But the question you need to ask yourself, in the words of 80’s rock band Moving Pictures, is:

“What about me?”

What does this mean for your retirement?

Barbados to Byron?

Caribbean to Caboolture?

Maybe not.

It can be tricky working out what you can give away without leaving yourself short down the track.

This actually comes up a lot.

People feel torn between wanting to be generous and making sure they’ve got enough for themselves.

Setting a boundary that still feels supportive.

It sounds easy and maybe with small amounts it can be.

But what if they need help with something big? Checked property prices lately?

You don’t have to say no.

But you do want to say yes in a way that keeps your future safe too.

If this has been on your mind lately, it might be worth chatting through.

14/07/2025

“Markets are too high… we’ll wait.”

Remember back in April markets dropped quite a bit? (ASX dipped to 7,667.80).

The ASX has climbed to 8,580.10. That’s almost a 12% gain from the April low.

Is it safer to invest now?

The reality is, the longer you sit on the sidelines, the more you risk missing out.

The risk isn’t just markets falling.

It’s missing growth, losing time, and retiring with less.

📌 𝑇ℎ𝑒 𝑎𝑏𝑜𝑣𝑒 𝑖𝑠 𝑔𝑒𝑛𝑒𝑟𝑎𝑙 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠𝑛’𝑡 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟 𝑦𝑜𝑢𝑟 𝑝𝑒𝑟𝑠𝑜𝑛𝑎𝑙 𝑛𝑒𝑒𝑑𝑠, 𝑜𝑏𝑗𝑒𝑐𝑡𝑖𝑣𝑒𝑠, 𝑜𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑖𝑡𝑢𝑎𝑡𝑖𝑜𝑛.

14/05/2025

Every time Trump’s name pops up in the news, someone asks me the same question:
“Is now a bad time to invest?”

Lots of people in their 50s are finally getting around to sorting their finances, only to be hit with headlines about Trump and market uncertainty.

I shared some thoughts on how to approach investing in times like this, especially if retirement’s not far off.

Here’s the piece I contributed to for Adviser Ratings.
👇

With the kids out of the house and retirement approaching, James from Caboolture is finally focusing on his finances. But Donald Trump’s return to the U.S. presidency has rattled markets, and his unpredictable economic stance is creating fresh uncertainty. Should Australians like James invest amid...

22/04/2025

Remember Michael Phelps?

The most decorated Olympian of all time.
23 gold medals.
He was a pretty good swimmer.

Back in 2008, a 13-year-old swimmer from Singapore, Joseph Schooling, met him at a US Team training camp.

They took a photo together.

Meeting his hero inspired him to chase his own goal...

to become an Olympic champion.

Fast forward to Rio 2016.
Schooling lines up next to Phelps in the 100m butterfly final.

And wins.
Olympic record.
Singapore’s first ever Olympic gold.

What I like about this story wasn’t just the result.
It was the focus.
He had a goal.
And everything he did for the next eight years pointed toward it.

It’s easy to drift.
To work hard without knowing what for.

But when your goal is clear, the effort has direction.
You don’t have to be chasing a gold medal.
Just something that matters to you enough to stick with.

(Also, I’ll admit that back then, I was more impressed by Phelps’ 12,000 calorie diet than his swim times. Worth a Google!)

22/04/2025

"I'd probably do better with my money... if I had a goal,"
That's what Alana said to me on one of our first calls.

She hit the nail on the head.

She earned good money.
She managed it well enough.
But without a real target, she was drifting.

Her spending and saving were fine on the surface.
But when we mapped it out, it was clear.
If she kept going like this, she would not get the freedom she wanted.
She'd have to keep working longer than she intended to!

It's like opening Google Maps without typing in a destination.
You're probably not getting anywhere you actually want to go.

A clear goal changes that.
It helps you decide what to say yes to and what to say no to.

The truth is, you cannot have everything (most of the time).
You have to choose what matters most.

A goal gives you direction.
A plan gives you the steps to get there.

Because having a goal is important.
But without a plan, it is just a wish.

15/04/2025

How to pay no personal tax on a $110,000 capital gain

Adrian works for a mining company.

He had company shares.

He sold some and made a $110,000 profit.

He thought he’d have to give a big chunk to the ATO.

But we used a strategy that saved him over $17,000 in tax.

Here’s how:

→ He held the shares for more than 12 months

→ That cut the taxable gain to $55,000.

→ On his income, he would’ve paid about $25,850 in tax.

Instead:

→ He put $55,000 into his super fund

→ That reduced his taxable income

→ He paid no personal tax on the gain

→ His super fund only paid 15% tax ($8,250)

Total tax saving: $17,600

And $46,750 is now growing in super for his future.

Pretty good?
Office views for the day aren't bad either.

📌 𝑇ℎ𝑒 𝑎𝑏𝑜𝑣𝑒 𝑖𝑠 𝑔𝑒𝑛𝑒𝑟𝑎𝑙 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠𝑛’𝑡 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟 𝑦𝑜𝑢𝑟 𝑝𝑒𝑟𝑠𝑜𝑛𝑎𝑙 𝑛𝑒𝑒𝑑𝑠, 𝑜𝑏𝑗𝑒𝑐𝑡𝑖𝑣𝑒𝑠, 𝑜𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑖𝑡𝑢𝑎𝑡𝑖𝑜𝑛.

10/04/2025

Making Markets Great Again!

He imposes tariffs on major trading partners.
Markets panic. Everything crashes (sort of).
Then he pauses most of the tariffs for 90 days.

Then he tweets:

“Great time to buy.”

And somehow… everything bounces back.

Unless you’re moving markets with a tweet,
you’ll probably need to build wealth the old-fashioned way:

→ Time
→ Money
→ Compounding

$1,000/month at 7% = ~$1M in 28 years
$2,000/month = ~$1M in 20 years
$3,000/month = ~$1M in 16 years

You don’t need perfect timing.

Or market-moving tweets.

Just a plan
And a (big) bit of patience.

ASX last 5 days

📌 𝑇ℎ𝑒 𝑎𝑏𝑜𝑣𝑒 𝑖𝑠 𝑔𝑒𝑛𝑒𝑟𝑎𝑙 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠𝑛’𝑡 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟 𝑦𝑜𝑢𝑟 𝑝𝑒𝑟𝑠𝑜𝑛𝑎𝑙 𝑛𝑒𝑒𝑑𝑠, 𝑜𝑏𝑗𝑒𝑐𝑡𝑖𝑣𝑒𝑠, 𝑜𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑖𝑡𝑢𝑎𝑡𝑖𝑜𝑛.

06/04/2025

Markets dropped sharply on Friday.

But zoom out a little and you’ll see something else.

Short-term drops can feel big in the moment.
Zoomed out, they’re often just part of the journey.

If you’ve got a clear plan and your investments match your goals, moments like this don’t need a reaction. They might just need perspective.

ASX year to date vs last 5 years.

📌 𝑇ℎ𝑒 𝑎𝑏𝑜𝑣𝑒 𝑖𝑠 𝑔𝑒𝑛𝑒𝑟𝑎𝑙 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠𝑛’𝑡 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟 𝑦𝑜𝑢𝑟 𝑝𝑒𝑟𝑠𝑜𝑛𝑎𝑙 𝑛𝑒𝑒𝑑𝑠, 𝑜𝑏𝑗𝑒𝑐𝑡𝑖𝑣𝑒𝑠, 𝑜𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑖𝑡𝑢𝑎𝑡𝑖𝑜𝑛.

06/04/2025

How to tackle tax time

Tax time is coming.

Here are 3 ways you can reduce your tax:

1. Tax deductions

A deduction lowers your taxable income.
Less taxable income means less tax to pay.

→ Work-related expenses
→ Donations to charity
→ Super contributions
→ Interest on investment loans

2. Tax offsets

An offset reduces the actual tax you pay.
It’s a direct cut to your tax bill.

→ SAPTO (Seniors and Pensioners Tax Offset, automatic if eligible)
→ Spouse super contribution offset (needs to be claimed in your tax return)

Some offsets are applied automatically.
Others need to be claimed in your tax return.

3. Tax deferral

This is about timing.

→ If you’re planning to sell an asset, it might make sense to wait (it might not).
→ You may pay less tax if your income will be lower in the future
(like in retirement or after taking time off work).

The goal is not to dodge tax.
It’s to avoid paying more than you need to.

📌 𝑇ℎ𝑒 𝑎𝑏𝑜𝑣𝑒 𝑖𝑠 𝑔𝑒𝑛𝑒𝑟𝑎𝑙 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠𝑛’𝑡 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟 𝑦𝑜𝑢𝑟 𝑝𝑒𝑟𝑠𝑜𝑛𝑎𝑙 𝑛𝑒𝑒𝑑𝑠, 𝑜𝑏𝑗𝑒𝑐𝑡𝑖𝑣𝑒𝑠, 𝑜𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑖𝑡𝑢𝑎𝑡𝑖𝑜𝑛.

25/03/2025

They say, “Keep your eye on the ball.”
Clearly, I didn’t.

And that happens in life and with our finances too.

We start with the best intentions.
We set goals.
We make a plan.

But life happens.

Work gets busy.
Unexpected expenses pop up.
Before you know it, months (or years) have passed, and you’ve lost track of your finances.

Maybe you meant to increase your super contributions.
Maybe you were going to start investing.
Maybe you promised yourself you’d finally sit down and review your spending.

But like me in this photo, you took your eye off the ball.

The good news?

In football, you can shake off a mistake and get back in the game
..or get lucky and the ball goes to a teammate anyway.

With your finances, you can do the same.
Though hoping to get lucky probably isn't your best bet

So, if your finances haven’t had the attention they deserve...

this is your reminder to take action.

Get back in the game.

25/03/2025

Most people don’t realise they can do this with their super…

_

If you’re over 60 and still working,

there’s a way to pay less tax and grow your super

without changing your lifestyle or dipping into your savings.

It’s called a Transition to Retirement (TTR) strategy,

it’s handy if you’re still working and want to build wealth faster.

Quick example (ignoring investment returns):

Jane runs her own business, earns $70,000, and has $350k in super.

→ Rolls $250,000 from super into a TTR Pension
→ She withdraws $25,000 from the TTR pension
→ She contributes $25,000 back to super (claims a tax deduction)

→ Super fund pays $3,750 in contribution tax
→ She gets an $8,000 tax refund

$25,000 went out,
$21,250 (net) went back in,
plus $8,000 refund reinvested = $29,250

That’s a 17% increase. Not bad.

Like this? There’s more here: https://conta.cc/41FpKYo

📌 The above is general information and doesn’t consider your personal needs, objectives, or financial situation.

24/03/2025

Don’t skip this step...

It could be the difference between financial security and disaster.

In school, I remember reading about the story of Two Builders...

One built fast...straight onto sand.
The other took his time,
building his house on a foundation of solid rock.

You can guess how it turned out when the storm hit.

It had absolutely nothing to do with money… but I’m going to make it about money anyway.

People often rush to invest, eager to get their money working for them.

"Mate, where should I be investing?"

But if you still have credit card debt, no savings, and no clear plan for where your money is going, you’re building on sand.

A strong financial foundation starts with the basics:

→ Spend less than you earn
→ Build an emergency fund (3-6 months of living expenses)
→ Pay off bad debt (e.g. credit cards)
..Then you can invest with confidence.

A solid foundation takes longer to build...but it lasts.

📌 𝑇ℎ𝑒 𝑎𝑏𝑜𝑣𝑒 𝑖𝑠 𝑔𝑒𝑛𝑒𝑟𝑎𝑙 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠𝑛’𝑡 𝑐𝑜𝑛𝑠𝑖𝑑𝑒𝑟 𝑦𝑜𝑢𝑟 𝑝𝑒𝑟𝑠𝑜𝑛𝑎𝑙 𝑛𝑒𝑒𝑑𝑠, 𝑜𝑏𝑗𝑒𝑐𝑡𝑖𝑣𝑒𝑠, 𝑜𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑖𝑡𝑢𝑎𝑡𝑖𝑜𝑛.