Today I would like to go back to the topic of downsizing. You can already find my articles explaining the downsizer contributions to super Part 1 and Part 2. Great source of information to understand rules of this specific type of super contribution.
Pre Retirement & Super
Researchers found that the average Australian is planning to retire at the age of 65 and it is expected that over the period of the next 5 years there will be approximately 673,000 workers planning to retire.
What can I do with my superannuation savings once I retire? What are my options?
So first let’s start with the preliminary question: When can I access my super?
The general rules to access super are as follows:
When speaking about the superannuation annual performance test, APRA included the following:
64 MySuper options and
805 “trustee-directed products”
| super funds
A year ago, I wrote an article “What income do I need in retirement” and many people rad it, so obviously this is an important topic, and I am not surprised as we all need to know:
Superannuation landscape is complex, and no part of your finance should be considered or planned in isolation, this is one of the biggest mistakes many people do when trying to organise their money.
Super funds advertise superannuation consolidation as a highly recommended strategy as you can save on ongoing fees. And sometimes it is correct, however often there are reasons why I would recommend more than one super account, and in most cases, this is for estate planning or tax reasons.
On 9 May 2023 a new government budget was delivered with the main purpose of providing the relieve of the cost of living by introducing an energy relief plan for eligible households as well as businesses.
The problem is that there is no one correct answer. Why? As I mentioned before, we all are so very different, and we all want different things and different outcomes. We all see money differently and we all have a different understanding of financial risk and comprehension of the risk/reward outcomes.
In this blog post, we’ll explore five of the best strategies for growing your super if you’re getting close to retirement. From salary sacrificing to choosing the right super fund..
For years superannuation industry, financial planning industry, economists were talking about the idea of long-term returns. You know the saying: Don’t concentrate on short-term outcomes, it is the long-term returns that count and will create your wealth and growth of your assets. | Your Future Your Super
When talking about access to your superannuation savings, the first thing to understand and comply with are preservation rules. Preservation rules are to prevent you from having access to your superannuation savings before you satisfy conditions of release. | Preservation Age