We’ve just returned from our annual trip to Vietnam to visit our two grandchildren for their birthdays. This time we spent a couple of days on the way in Cambodia to see the amazing Angkor Wat and the other temples around Siem Reap.

Each visit we’re amazed at the number of Australian expats opening small businesses in the region to cater for overseas tourists and doing so well.

And why wouldn’t they? Once you get over the widespread corruption (which seems to be a normal cost of doing business) the labour and input costs of the business are tiny compared with those in Australia.

Charging visitors first world prices while incurring third world costs is a terrific formula for success.

Giving to help others is a beautiful thing. But is anyone finding the increased aggression of “chuggers” is destroying a lot of that goodwill.

There are a lot of Australians doing it tough through no fault of their own and it’s our duty to help as a payback for the privilege of being part of the community.

Welfare groups are also suffering from the big squeese. Donations are drying up because of the tough economic times and the demand for their services is increasing for the same reason.

But these days charities are getting more aggressive when it comes to their fundraising techniques, and so the ‘chugger’ (charity + mugger = chugger) is born.

For years we’ve allocated a specific percentage of our family income in the household budget to donations. We give regularly to a few charities that we are passionate about, are happy to help with and also get involved in personally. We’ve encouraged our kids to do the same with the welfare groups of their choice.

When you’re not in a position to donate cold hard cash, you can always give your time, goods, even your blood sweat and tears.

My youngest daughter is still a student, and as part of her philanthropy regularly donates blood. Let’s face it, uni kids aren’t left with a whole lot of money come Sunday morning.

Life insurance is a vital protection for your family to safeguard their biggest assets… the breadwinners.

But the older you get, the smaller your financial obligations and the less you need life protection. The rule of thumb is when you’re younger, have dependent children, less in super plus debts like the mortgage you need to have a bigger life insurance policy. Empty nesters, on the other hand, usually have their debts under control, own their home and have only a couple of years to retirement and that superannuation payout.

Remember the cheapest life insurance is often through your superannuation fund.

The primary breadwinner is a family’s most important asset and, besides adequate life insurance, also look at disability or income protection policies.

If you’re struggling to fit disability insurance into your budget, don’t sacrifice the quality of the contract. Instead look to compromise in other areas, such as taking out a policy with step premiums which increase according to age.

A longer qualifying period is equivalent to an excess on your car policy. Instead of choosing a policy that waits for the first 30 days before paying go for one with a 45 or 60 day no-payment period.

Australians have over $1.2 trillion invested in superannuation, for many people it’s their single biggest asset. A new survey has found millions of Australians nearing retirement don’t understand basic super terms. That really scares me. If you don’t know how super works you aren’t maximising your valuable retirement savings.

Suncorp Life found one in three Australians aged between 50 and 64 years don’t understand the phrase “transition to retirement”, a lucrative strategy for over 55’s still in the workforce. It says other confusing terms include preserved benefit, non-concessional contribution and commutation.

Mixing up these terms may mean you miss out on extra super. Let’s start by clearing up any confusion.

Transition to retirement is a way for people over 55 years of age to salary sacrifice part of their wage into superannuation while getting an income from their super savings. You pay no tax on the income you get from your super and only 15 per cent contributions tax on the amount you salary sacrifice, instead of your regular income tax rate. The money you save can go to your super account instead of the taxman.

Non-concessional contributions is money you put into your super from your after-tax income. You benefit by paying less tax on investment gains. Since the money is invested in super your returns are taxed at a maximum 15 per cent, not your regular income tax rate, and you won’t have to pay any capital gains tax.

Preserved benefit means superannuation savings that must be kept in super until retirement. These days that’s all your super. Remember if you make voluntary contributions, before or after tax, it becomes part of your preserved benefit and you can’t touch that money until retirement.