A note from Pinnacle!

We are once again greeted by December, which means the silly season is here and the end of another year is lurking. Where does the time go!

Christmas! – the time of year when your bank account shrinks, your social calendar explodes, and some family dynamics resemble a poorly scripted soap opera. As we navigate the festive minefield of shopping, social gatherings, and feasting, it’s common to feel a little frazzled… I know I am, and I haven’t even been subjected to the shopping shenanigans or frenzied crowds—yet!

 

The year so far…

2024 has proven to be a year of fluctuations. The rollercoaster ride of highs and lows persists once more! The stock market continues to soar, reaching record highs by surpassing the 8,500 point milestone in early December. As the popular saying goes, “what goes up, must come down”.

The term ‘inflation’ is still a widely discussed topic, and despite the headline inflation rate showing 2.1%, the Reserve Bank of Australia (RBA) choosing to hold off on any interest rate cuts. Originally expected in mid-2024, then September and December, and now economists are tipping May. The big question for a government set to face voters in May (at the latest) is this: did the Treasurers’ bad budgeting hurt inflation and rate cut hopes and how did this happen?

In simple terms, our economy is too strong. The job market is tight, so unemployment hasn’t budged from around 4.1% because economic growth, powered by the budget blowout (around $60 billion), has kept us away from a recession. Although the Albanese Government has evaded a recession (so far), it has also stalled any prospective rate cuts. While many Australians without debt may be content with unchanged rates, the uncertainty remains regarding when the RBA will make a move. Meanwhile, the US has managed to avoid a recession and implement two rate cuts by decreasing their cash rate below 5%, leading to inflation nearing the Federal Reserve’s 2% target.

Cost of living pressures are still prevalent. The increasing population growth is a leading factor in the surge of house prices and rental demand, pushing the Australian dream of first-time home ownership even further out of reach for many.

Ongoing geopolitical strains are still in force due to the conflicts involving Russia and Ukraine, as well as Israel and Hamas. Meanwhile, China has implemented new stimulus initiatives. Donald Trump’s win in the presidential election confirms him as the 47th president of the United States. His proposed policies, especially regarding tariffs, are anticipated to hinder international trade and heighten global tensions.

 

As we approach 2025…

It is crucial to stay informed of upcoming changes that could impact you in what is expected to be an eventful year ahead.

With news of a Federal Election, an early Federal Budget, and significant amendments to a range of super, tax, and social security rules are in the pipeline. Major changes to Aged Care reforms have passed Parliament and awaits Royal Assent, which brings new legislation around both Home Care and Residential Aged Care including fees and charges.

Before 2025 graces us with its presence, it’s time to survive and thrive, something we all manage to do anyway… embrace the Christmas chaos, lean into the hilarity and don’t take it all too seriously. Here’s to a joyful festive season filled with laughter and the wonderful chaos that is Christmas. We’ll catch you on the other side. Cheers!

Chris Launer  Chris Launer—Principal

“Pinnacle always provides an excellent service. [My Advisor] has provided outstanding support to my two daughters and I since the death of my husband in August 2020. I would be happy to recommend this service to others.”
Margaret NRetired
“The Pinnacle team has guided the management of our financial circumstances for over 20 years, successfully navigating at least 3 significant economic cycles. Services have been rendered with total integrity and focus on our personal aspirations. During this time we have greatly appreciated the extension of PWM resources to assist a number of family members responding to particular situations along their personal lives' journeys.
Trevor & Carolyn CConsultants
“Pinnacle Wealth Management, who most importantly created a sound financial future for our comfortable retirement, go way beyond being a financial advisor, providing support to us and our children, as their needs have changed, at a strongly personable level. Their client focus is exemplary.”
Barry TRetired Accountant
“We have been Pinnacle clients for many years and have always found their advice to be considered relevant. The administration team is professional, courteous and timely. No hesitation in recommending the Pinnacle Team.”
Damien WRetired Head of Commercial Banking
“A friend recommended Pinnacle Wealth Management to me, having worked with them on his mother's behalf for many years. I'm so grateful to him - my Financial Advisor is brilliant, totally approachable, not as I'd imagined! I now have much greater clarity about financial management and greater peace of mind. For my money, they're the best financial planners in Adelaide.”
Jackie HCommunications Consultant
 “We are long term friends of [Pinnacle Wealth Management] having been clients since its inception. We have appreciated the professional advice and also the care and friendliness of [our advisor] and staff."
Ian WRetired
"We have been clients at [Pinnacle Wealth Management] for about 20 years. It has been a very enjoyable and profitable time for us. We have been safely steered through the GFC, both our retirements and various other major events that have shaped the nature of financial planning in our world. Through the entire time we have been delighted with the care and careful management of our funds through the leadership of [our now retired advisor] and the friendly and efficient support of all the ancillary staff. He has become a personal friend as well as the person whom we trust implicitly to handle our portfolio and to give us sage and pertinent advice on many areas of our concern. We will miss his presence but we are sure that he has chosen well with [our new advisor], and we look forward to forging a similar relationship with him.'"
Ray & Lyn HRetired
"We have been clients of [Pinnacle Wealth Management] since the inception of the business, about 20 years ago. Overall, we have been very pleased with the long-term handling of our financial affairs, the financial strategy implemented and the regular reviews to make sure we remain on track to achieve our goals. This includes regular informative communications. It has been great to receive sound advice and personalised service, tailored to our needs, covering many different tasks. When an emergency occurred, the excellent and swift service we received from the staff [at Pinnacle] was greatly appreciated. We wholeheartedly recommend [Pinnacle Wealth Management] as a Financial Adviser."
Kelvin & Melanie TConsultant
"My association with [my advisor] began many years ago, with a requirement to diversify my portfolio from bricks and mortar to Australian and International equities. At that time [my advisor] worked for another financial services business. I had no hesitation in following [my advisor] to Pinnacle. [My advisor] has the qualifications, but it is his experience and guidance that have been the founding safeguard for my family and I throughout the varying market conditions. [My advisors] expertise and guidance throughout the years has provided us in achieving our goals along with our family needs. His innovation and tailored strategies have kept us on track in reaching our desired endgame.
Tony SMaintenance
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Words by Jacqui