Retirement Planning
Understanding the new $3m super tax
The much-debated tax on superannuation balances over $3 million is inching closer and those who may be affected should ensure they have considered the implications. Although it is not yet law, the Division 296 tax should be taken into account when it comes to investment strategy and planning, particularly in relation to any end-of-financial-year contributions…
Sowing the seeds for a happy retirement
The thought of retirement is an enticing one for many of us. Imagine throwing off the shackles of the workforce and being able to do whatever you want, whenever you want. But why wait until you are retired to do the things you love? Retirement is a time where we finally have the space to…
Who needs a testamentary trust?
The rising cost of living is grabbing all the attention right now as people struggle to pay the increasing prices. But in the meantime, our collective wealth has been growing steadily and is being transferred to the next generation at increasing rates. In fact, the value of inheritances as well as gifts to family and…
Flexing your retirement plans
The concept of retirement plans are changing, with fewer people working towards a final retirement date and then clocking off for good. Instead, those who have the flexibility to choose are often transitioning out of the workforce over several years, or even returning after a break. Whether you simply want to wind back your working…
How much super do I need to retire?
Working out how much super you need to save for retirement is a question that keeps many pre-retirees awake at night. Recent market volatility and fluctuating superannuation balances have only added to the uncertainty. So it’s timely that new research shows you may need less than you fear. For most people, it will certainly be…
Preparing for the next chapter
Retirement means starting a new chapter of your life, one that gives you the freedom to create your own story, as you decide exactly how you want to spend your time. While retirement may not be part of your immediate plans, there are advantages to giving some thought as to what retirement looks like for…
Setting up a support team
How to choose the right people to help protect your financial assets To reduce your vulnerability to elderly financial abuse, it’s important to have a strong support team around you that you can rely on and trust. These are the people who will help you make decisions about your money, so you need to make…
Finally, a super idea for extra retirement income
The federal government’s recent “Retirement Income Review” pointed out that many retirees live on just the income from their superannuation, rather than drawing down on the balance as they progress through retirement. This seems to be partly due to the major misunderstanding that this is how the system is supposed to work, and partly because…
Managing investment risk in uncertain times
2020 exposed investors to the end of a bull market and the start of a global recession, all caused by a totally unexpected global pandemic. The outlook for the global economy and investment markets remains uncertain until an effective vaccine is available. While there is cause for optimism now that vaccines are becoming available, the…
Strategies to rebuild super after early access
If you’ve accessed your super early due to COVID, there are a number of strategies that can help you get your super back on track, when the time is right. Three strategies to rebuild your super There are three key strategies that could help you boost your retirement savings between now and retirement. 1. Allocate some…
A life stage guide to retiring well
In the early years of working life, retirement can seem too far away to be a priority. We talked to Stevie-Jade Turner CFP®, about how she helps her clients get their finances in shape for a better future at every life stage leading up to retirement. In your 20s: Stick to a budget While this…
Getting retirement plans back on track
After a year when even the best laid plans have been put on hold due to COVID-19, people who were planning to retire soon may be having second thoughts. You may be concerned about a drop in your super balance, insecure work, or an uncertain investment outlook? Whatever your circumstances, a financial tune-up may be…