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Northern Rivers Local News

Securing Wealth Transfers: Investing in Property to Mitigate Risks

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Securing Wealth Transfers: Investing in Property to Mitigate Risks

 

As Australia faces an unprecedented wealth transfer estimated at $3.5 trillion over the next two decades, a new analysis by Inspire Realty underscores the urgent need for beneficiaries to invest wisely. This wealth shift holds particular importance for low to middle-income households, which may lack the financial acumen of their wealthier counterparts.

Colin Lee, Founder and CEO of Inspire Realty, stresses the importance of property investment as a stable and lower-risk option for those receiving inheritances. “With the greatest wealth transfer in Australian history underway, it’s crucial for beneficiaries to consider property as a sound investment. Property offers stability and potential for growth, unlike high-risk ventures that can lead to significant financial loss,” said Mr. Lee.

The report identifies the top 20 suburbs per state based on SEIFA scores of 1 to 5, highlighting areas with higher socio-economic disadvantage. These suburbs were chosen to focus on households that may not have the financial experience of more affluent areas. The analysis used 2021 Census data to estimate the number of properties owned outright and rolling 12-month median prices to determine unencumbered property wealth.

“The allure of quick gains from high-risk investments can be tempting, but it’s a dangerous path for those who are not financially savvy. Property investment, particularly in familiar suburbs, provides a tangible and secure way to grow and protect wealth,” Mr. Lee added.

The findings reveal substantial unencumbered property wealth across low to middle-income suburbs, often exceeding $1 billion per suburb. By investing inherited wealth in housing within these areas, beneficiaries can ensure both stability and potential growth. However, Mr. Lee warns of the increasing threat of scams targeting new beneficiaries.

“Scammers are becoming more sophisticated and are particularly targeting those who come into sudden wealth. It’s imperative for beneficiaries to seek professional financial advice and be vigilant against unsolicited offers. Protecting oneself from financial predators is just as important as making wise investment choices,” Mr. Lee cautioned.

Inspire Realty advocates for increased financial literacy and access to professional advice to help beneficiaries navigate their newfound wealth safely. By focusing on property investment, beneficiaries can build a secure financial future without falling prey to high-risk schemes and scams.

 

For more real estate news, click here.

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Local Elections

Kylie Maunder – Richmond Valley meet your candidates

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Kylie Maunder Richmond Valley meet your candidates

By Tim Howard

The Northern Rivers Times has asked all of the candidates for the September 14 local government elections to introduce themselves to voters identify the issues they want to address and policies they would pursue if elected.

A number of candidates did not meet the deadline for publication but are welcome to send in copy for coming editions of The Northern Rivers Times before the election date.

Kylie Maunder

Yamandhu marang, my name is Kylie Maunder and I’m a proud Wiradjuri woman, blessed to be living breathing and learning on Bundjalung country for most of my life.

I grew up in a small village outside of Casino and have experienced first-hand the lack of supports and infrastructure for regional communities.

My background has been in leadership in community services, disability, family support, aboriginal engagement, reconciliation and aboriginal leadership.

My goals and passions are educating and inspiring the broader community through culture, closing the gap on education, health, and support healing through connection.

 

For more 2024 Local Elections News, click here.

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Clarence Valley News

CLARENCE AND RICHMOND VALLEY BUSINESSES SUFFERING IN ONGOING ENERGY DISPUTE

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CLARENCE AND RICHMOND VALLEY BUSINESSES SUFFERING IN ONGOING ENERGY DISPUTE

Nationals MP for Clarence, Richie Williamson is urging the Minns Labor Government to step in and resolve the ongoing industrial dispute between the Electrical Trades Union (ETU) and the state’s major energy companies, which is heavily impacting local businesses across the Clarence and Richmond Valleys.

Months of strike action by the ETU has delayed thousands of projects, including critical infrastructure such as housing and roadworks, while driving some businesses to the brink of bankruptcy.

Mr Williamson emphasised the need for immediate intervention, noting the essential role energy workers play in the community.

“Our energy workers are invaluable, often stepping up as first responders during emergencies and natural disasters across regional NSW,” Mr Williamson said.

“They work nights, weekends, and through holiday periods to keep the power on, and we all want to see a fair resolution reached quickly.

“However, this dispute has dragged on far too long, and our local businesses are paying the price while the Minns Labor Government continues to sit on the sidelines.

“The Premier, along with the Ministers for Industrial Relations and Energy, must act under Section 424 of the Fair Work Act to bring this dispute to a close before more damage is done to our regional economy.”

Mr Williamson expressed concern about the growing impact on local businesses.

“Many great businesses in the Clarence and Richmond Valleys may be forced to close their doors, which is completely unacceptable. These businesses are the backbone of our community, and they need support.

“It’s time for the Minns Government to show leadership, bring all parties to the table, and reach a resolution that protects our local businesses and workers.”

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Northern Rivers Local News

The Northern Rivers Times Newspaper Edition 223

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The Northern Rivers Times Newspaper Edition 223

 

Northern Rivers Times Edition 223 – Your Local Hyper News Highlights

All your Northern Rivers news

New Mayors’ Vision: What’s on the Agenda? Explore the priorities and goals of newly elected mayors in Northern Rivers, as they outline their wish lists for the region’s future.

The Legacy of Ferry’s Demise: Inspiring a Ferry Exhibition A historical exhibition pays tribute to the iconic ferry service, celebrating its history and influence on local transport.

Lismore’s Youth Shine: Young Women and Teen Showgirls Announced Meet the inspiring young women and teens representing Lismore in the upcoming Showgirls competition.

Governor Beazley’s Warm Welcome to New Italy A special welcome for Governor Beazley, as the community of New Italy celebrates his visit with traditional hospitality.

Vandalism at Cricket HQ Continues Ongoing acts of vandalism plague the region’s cricket headquarters, raising concerns for local sports infrastructure.

The Hot Seat:

Clarence Valley’s Top Vote Winner Eyes Deputy Role Find out who’s in the running for the deputy mayor position after a decisive win in the local elections.

Minister Urged to Delay $80M Planning Panel Decision A critical call from stakeholders urging a delay in the $80 million planning decision to ensure thorough community consultation.

Domestic Violence Data Released: Monitoring Apprehended Violence Orders and Coercive Control in NSW The latest domestic violence statistics reveal trends in AVOs and coercive control, sparking discussion on safety measures in the state.

Community Feedback Sought on Historic Bawden Bridge Repairs Residents are invited to provide input on the maintenance and repair plans for the iconic Bawden Bridge.

Have Your Say: The Future of Tweed Regional Gallery & Margaret Olley Art Centre Share your thoughts on the direction of this beloved regional gallery and art centre as it plans for the future.

Byron Writers Festival 2025 Dates Announced Mark your calendars! The much-anticipated Byron Writers Festival returns in 2025 with a stellar lineup of literary talent.

Casino Show 2024: Get Ready for the Annual Spectacle Discover what’s in store at the 2024 Casino Show, a highlight of the Northern Rivers event calendar.

Man Charged with Domestic Violence and Knife Offences After Casino Police Pursuit A police pursuit in Casino results in charges for domestic violence and knife-related offences.

Jacaranda Festival: How to Join the Celebration Learn how you can take part in the Jacaranda Festival and join the vibrant community celebration.

Tragedy Strikes: Man Dies After Unit Fire in Lismore A devastating fire in Lismore claims a life, as authorities investigate the cause.

Water Users Association Welcomes Extension of Metering Compliance Deadline The Richmond Wilson Rivers Combined Water Users Association expresses relief at the extended deadline for metering compliance.

Zero Emission Buses in Tweed Heads and Armidale Praised as ‘Best Bus Ride Ever’ The latest in green transport: Zero emission buses make waves in Tweed Heads and Armidale with rave reviews from passengers.

Federal Drive Sealing Near Completion The final touches on Federal Drive’s road sealing are underway, promising smoother travel for residents.

Get Online Week 2024: Breaking Down Barriers to Digital Inclusion Initiatives to support Australians in overcoming digital challenges will be highlighted during Get Online Week 2024.

Prepare for Storm Season: Budget Direct’s Safety Urge Budget Direct calls on Australians to take action and prepare for the upcoming storm season.

Shaping the Future of Byron Shire’s Aquatic Facilities Community input is sought as plans for the future of pools and aquatic facilities in Byron Shire take shape.

Puggle Rescuer Named 2024 Northern Rivers Volunteer of the Year A dedicated wildlife rescuer earns the title of Volunteer of the Year for their work saving puggles in the Northern Rivers region.

Byron Shire Mayoral Fund Applications Open The Byron Shire Mayoral Fund is now accepting applications, providing an opportunity for community projects to receive funding.

And much more in this edition of Northern Rivers Times! Stay informed with the latest updates from your local area.

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