Jera Conde

Financial literacy for the social media generation

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There’s something genuinely positive about the rise of financial content on social media. Money was, for a long time, a topic shrouded in silence, shame, and exclusivity. Anything that gets Australians talking about budgeting, investing, and superannuation is, in principle, a good thing.

However, the problem is what’s getting mixed in with the good stuff.

The scale of the shift

Nearly nine million Australians have now consumed financial content on social media. For Gen Z, social media has become the dominant source of financial guidance. More than 2.25 million young Australians now turn to social media for advice. That exceeds both financial advisers at 1.4 million and parents or relatives at 2.2 million.

Research shows that social media influences financial product decisions for more than half of consumers. Platforms such as TikTok and Instagram are particularly influential when it comes to mortgages and credit cards.

That’s an enormous shift in how financial decisions are being shaped. It’s also happening faster than regulation can comfortably keep pace. These platforms have made it easier for younger consumers to learn about finance through short-form video content, sometimes referred to as #Fintok. However, this shift also brings risks. These include fragmented information and exposure to high-risk investments. As a result, regulators have increased scrutiny, including ASIC’s 2026 actions against finfluencers.

What the regulator is doing about it

ASIC has been watching closely. In April 2026, as part of the second Global Week of Action Against Unlawful Finfluencers involving 17 regulators globally, ASIC issued warning notices to four finfluencers suspected of providing unlicensed advice and promoting claims of guaranteed returns.

However, the concern is not limited to individual bad actors. ASIC Commissioner Alan Kirkland noted that algorithms shape much of what people see online. These algorithms are designed to drive clicks and engagement rather than deliver accurate information. As a result, consumers are increasingly exposed to biased or misleading content.

Under Australian law, finfluencers must hold an Australian Financial Services licence or operate as an authorised representative before they can legally provide financial product advice. If someone on social media promises easy money or guaranteed returns, there’s a real risk they are breaking the law. In that situation, followers may be the ones who lose money.

Red flags to watch for

Not all finfluencers operate unlawfully. Some provide genuinely useful educational content. However, the distinction matters. Here is what I tell my clients to watch for.

Guaranteed or unusually high returns are an immediate red flag. No legitimate investment strategy comes with guarantees. Likewise, be cautious of lavish lifestyle imagery used to sell trading strategies. Invitations to join paid “inner circles” or copy-trading groups should also raise concerns. Another warning sign is the absence of credential disclosures. These tactics often indicate that the content is designed to profit from you rather than educate you.

Meanwhile, ING’s research highlights another issue. Social media platforms often amplify financial anxieties and create unrealistic expectations. In fact, 38% of Gen Z report feeling constant pressure to be financially successful. Many content creators deliberately fuel that pressure to drive engagement.

How to engage with financial content more safely

The first step is to check credentials. ASIC’s professional register tool at moneysmart.gov.au lets you verify whether someone is licensed to provide financial product advice in Australia. If they aren’t listed, treat their content as entertainment rather than guidance.

The second step is simple. Treat social media as a starting point, not an endpoint. It can be a useful way to discover topics worth exploring further. However, any significant financial decision deserves more than a social media post. Whether it involves investing, superannuation, debt, or insurance, it should include a conversation with someone who understands your personal situation.

Ultimately, that’s what a financial planner is for. Not to gatekeep information, but to make sure the advice you act on is built for you.

Why superannuation is more relevant than ever in 2026

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A range of superannuation changes that came into effect on 1 July 2026 are reinforcing the role of super as one of the most tax-effective investment structures available.

For many investors, it’s not simply that super remains attractive but that the rules continue to change. Understanding these changes can help ensure your strategy takes advantage of available opportunities while staying on track with your financial goals.

A changing tax environment

Outside of super, tighter rules around the use of discretionary trusts and closer scrutiny of income distributions have reduced some traditional tax planning flexibility. Combined with the ongoing treatment of capital gains, this has made tax outcomes in non-super structures less predictable for some investors.

In contrast, superannuation continues to provide favourable tax treatment. This is a key reason why super is becoming increasingly important in long-term financial planning.

Payday Super

One of the more practical changes is the introduction of Payday Super, which requires employers to pay super contributions at the same time as wages rather than quarterly.

While this is primarily an administrative shift, it can have a real impact on individuals’ super balances. More frequent contributions mean compounding begins earlier. Over time, this could lead to improved retirement outcomes. It also reduces the risk of missed or delayed contributions, which has been a concern for some employees in the past.

From a planning perspective, this change may also make it easier to track contributions and manage contribution limits more precisely throughout the year.

Higher contribution caps

From 1 July 2026, the concessional superannuation contribution cap (including employer contributions and salary sacrifice) increased to $32,500 from $30,000 in the 2025-2026 financial year. For those with the capacity to direct additional income into super, this can be a valuable strategy to reduce personal tax while increasing retirement savings.

Non-concessional caps have also increased, from $120,000 in 2025-2026 to $130,000 in the 2026-2027 financial year, enabling larger after-tax contributions. This can be particularly relevant for individuals who have accumulated savings outside super and wish to transfer funds into a more tax-advantaged environment.

Carry-forward and bring-forward rules

Two existing rules continue to offer significant opportunities when used effectively.

The carry-forward rule allows those with a total super balance below $500,000 on 30 June in the previous financial year to use unused concessional cap amounts from previous years. This can be especially beneficial for those with irregular income patterns, such as business owners or individuals returning to work after a break. A higher income year can present an opportunity to make additional concessional contributions and reduce taxable income.

The bring-forward rule allows you to make several years’ worth of non-concessional contributions in one year, subject to eligibility criteria. This can be particularly useful when receiving an inheritance, selling an asset, or restructuring investments.

Together, these rules provide flexibility in how and when contributions are made, allowing strategies to be tailored to individual circumstances.

Parental leave contributions

Another important development is the extension of super contributions to government-funded parental leave, introduced last year. It recognises the long-term impact that time out of the workforce can have on retirement savings, particularly for women.

While the financial impact may appear modest in the short term, over time the effect of compounding can be meaningful.

For families, this change also provides an opportunity to consider broader contribution strategies, such as spouse contributions, to further support long-term outcomes.

Division 296 tax

One of the more widely discussed measures is the Division 296 tax, which applies an additional tax on earnings associated with super balances above $3 million.

While this affects a relatively small proportion of investors, it represents an important shift in the superannuation landscape. The measure is designed to target very large balances, with the objective of limiting the extent of tax concessions at higher levels of wealth.

For those who may be impacted, careful planning is essential. This may include reviewing contribution strategies, considering the structure of investments, and assessing how super fits within a broader wealth strategy.

Transfer Balance Cap

The increase in the Transfer Balance Cap to $2.1 million is another positive development, particularly for those approaching or entering retirement. This cap determines how much can be transferred into the tax-free retirement phase. An increase allows more capital to benefit from a zero per cent tax rate on earnings, enhancing after-tax income in retirement.

For couples, the combined impact can be significant, potentially allowing up to $4.2 million to be held in retirement phase accounts, subject to individual circumstances.

Bringing it all together

Taken together, these changes reinforce several key themes.

First, superannuation continues to offer a compelling tax environment, particularly when compared with other investment strategies that are facing increased complexity and scrutiny.

Second, flexibility within the system remains a strength. Contribution caps, along with carry-forward and bring-forward rules, provide multiple pathways to build super balances over time.

Third, timing and consistency matter. Changes such as Payday Super and parental leave contributions highlight the benefits of regular, ongoing investment into super and the power of compounding.

Finally, while new measures such as Division 296 introduce additional considerations, they do not diminish the overall value of super for most investors.

Please get in touch if you’d like to discuss any of these superannuation options.

A complete estate plan in 2026 involves more than just a Will

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When most people think about estate planning, they think about a Will. Whilst this is a very important piece, for many Australian families, the Will is only one piece of a much larger puzzle. And the missing pieces can create serious problems at the worst possible time.

Here’s what a genuinely complete estate plan looks like in 2026.

Cover incapacity and more with an Enduring Power of Attorney

The document most frequently overlooked is an Enduring Power of Attorney. An Enduring Power of Attorney lets your chosen person manage your financial affairs, pay bills, and buy or sell financial investments, without expensive court involvement if you lose mental capacity. A separate enduring guardianship covers medical and lifestyle decisions.

Without these documents in place, a family can find itself before a tribunal simply to access a loved one’s bank account. That’s a process that takes time, costs money, and adds unnecessary stress.

Binding death benefit nominations

Here’s something that surprises many Australians. Superannuation does not automatically form part of your estate. Without a valid death benefit nomination, the trustee of your super fund decides who receives your benefits when you die. That decision may not reflect your wishes at all.

A valid binding death benefit nomination takes precedence over your Will when distributing your superannuation. Most nominations must be renewed every three years to remain valid, though some funds now offer non-lapsing options. Super is often the largest asset a person holds at retirement, so this is a detail you should not leave to chance.

Digital estate planning: The new frontier

This is the area where estate planning has changed most dramatically, and where most families are most underprepared.

In Australia, there is currently no statutory scheme that gives a legal representative automatic authority to access digital assets, meaning neither your attorney nor your executor can simply step in and manage your online accounts without prior planning.

Digital assets now include everything from online banking and investment platforms to cryptocurrency, social media accounts, cloud-stored photos, and subscription services, all of which may carry financial or sentimental value.

A practical starting point is creating a secure digital inventory of your accounts and access credentials, stored separately from your Will. Passwords should never be placed directly in a Will, as they become public documents once probated.

A complete estate plan brings this all together:

  • a current Will,
  • properly executed Powers of Attorney,
  • a valid binding death benefit nomination, and
  • a plan for your digital life.

Each element protects your loved ones in a different way.

If it has been more than a few years since you reviewed any of these, now is a good time. Life changes quickly, and it is important that your estate plan keeps pace.

Breaking the silence on financial stress for Australian women

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She manages a lot. Work, family, probably someone else’s schedule before her own. And underneath all of it, a quiet financial worry she hasn’t quite found the time to deal with.

That feeling is real. And it’s far more common than most women let on.

Australian women report higher financial stress than men across every single spending category, according to the National Australia Bank’s Household Financial Stress Index. The gaps are largest in retirement funding, healthcare costs, discretionary spending, and the ability to pull together $2,000 in an emergency. Meanwhile, the proportion of Australians struggling to cope on their income has doubled from 17.1% in November 2020 to 34.6% in January 2024, with women consistently worse off.

A 2025 Liptember Foundation study of over 7,000 Australian women found that financial pressure is one of the leading triggers for depression and anxiety, with 1 in 2 women experiencing mental health issues, and almost 1 in 4 struggling with a severe issue. Financial stress and poor mental health feed each other. Stress makes decisions harder; harder decisions make the stress worse. It’s a cycle that isolation makes worse.

Why your position is harder than it looks on paper

The gender pay gap is real. For every dollar men earn, women average 88.8 cents, which compounds to a significant shortfall across a working lifetime. But that weekly shortfall is only part of the picture.

Every year a woman steps back from full-time work to raise kids, care for a parent, or support someone through illness, her super balance takes a hit that compounds quietly in the background. By their early 60s, Australian women have roughly $51,000 less in superannuation than men at the same age. That gap happened because the superannuation system was built around uninterrupted, full-time careers, and most women’s working lives simply don’t look like that.

The silence doesn’t help

There’s often a layer of shame sitting on top of financial stress. Women often feel a sense that this should have been sorted out by now, and that asking for help means admitting that they’ve failed somewhere. It doesn’t. It means that they are paying attention.

Women want to talk about money, but they’re just not sure it’s safe to do so. And when that conversation doesn’t happen, the stress compounds silently.

The appetite is there. What’s often missing is a clear, practical starting point.

What you can do

Those who finally decide to look clearly at their financial position almost always find that the reality is better than the fear suggested. Not perfect. Sometimes there are gaps that need addressing, but it is manageable. And much less frightening when it’s laid out plainly rather than just felt vaguely in the middle of the night.

The first move isn’t a spreadsheet; it’s permission. Permission to say, “I don’t fully know where I stand, and I’d like to.”

From there, the conversation is straightforward. What do you have right now: your super balance, what it’s invested in, any savings or assets outside super, and what Age Pension you might be entitled to. Then we work out what your life needs to look like in retirement, in today’s dollars, and we do the numbers.

If you’re still in the workforce, there’s also good news on the horizon. From July 2025, superannuation will be paid on government-funded Paid Parental Leave, meaningfully closing the gap for women who take time out to care for children. It’s a genuine step forward.

Unfortunately, legislation moves slowly, and your retirement doesn’t wait for it. The most useful thing you can do right now is understand your own position, clearly and without judgement.

If financial worry has become background noise you’ve learned to live with, it doesn’t have to stay that way. That’s exactly the kind of conversation we’re here for.