FP – Pre – Retirement Planning

COVID-19: How long may your super savings take to recover?

COVID-19: How long may your super savings take to recover? As investment market volatility continues, what does this mean for Australians’ retirement savings? The COVID-19 (coronavirus) crisis has caused uncertainty in many areas of life, not least on investment markets. Share prices have been fluctuating wildly as investors react to unfolding global events. From its high point in March the Australian All Ordinaries Index shed more than a third of its value before recovering some …

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Common tax mistakes for SMSFs with rental properties | AMP Capital

Common tax mistakes for SMSFs with rental properties In our recent article we covered tax relief concessions that could be considered where SMSF trustees have agreed to rent reductions for their tenants. Any reduction is decided on a case-by-case basis and the positions of the landlord and tenant. Whether the property is rented on a long-term or short-term basis, there are some simple lessons to be remembered to ensure the fund complies with the rules. …

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Changes to super contribution rules for over 65s

Changes to super contribution rules for over 65s The Federal Government has updated superannuation laws to allow older Australians to contribute to their super for longer. Work test to apply from age 67 The government has increased the age up to which super contributions can be made without having to meet a work test from 65 to 67. The work test requires you to be in paid work for a minimum of 40 hours in …

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A new financial year with some new super rules | AMP Capital

A new financial year with some new super rules The start of a new financial year always brings with it new rules for super funds. Sometimes there are lots of changes, which are wide-reaching, and in other years there’s just a few. For the 2020/21 financial year, the two main changes are: the abolition of the work test for anyone aged 66 and 67 years old who wish to make personal non-concessional contributions; and an …

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Women and super: taking control during COVID-19

Women and super: taking control during COVID-19 With unemployment rising due to COVID-19, women’s financial health is at greater risk. Find out ways to take control and better protect your financial future. In the past, economic downturns have helped advance women’s financial equality1 . During World War II, women were encouraged to enter the paid workforce while men went off to war, giving many the first taste of independence. And during the downturn of the 1980s, …

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AMP Capital Multi-Asset Fund & AMP Capital Core Retirement Fund Webinar | AMP Capital

WEBINARS AMP Capital Multi-Asset Fund & AMP Capital Core Retirement Fund Webinar 13 May, 2020 Whilst all investors face common risks and challenges, the market volatility created from COVID-19 has produced a significant challenge for retirees relying upon investment income for daily living. To help deliver stable income streams and manage drawdowns for retirees in this period, it is increasingly important to have the appropriate risk management strategies in place. Important information While every care …

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Women and the future of work

Women and the future of work A changing world of work holds old challenges and new opportunities for women The coronavirus (COVID-19) pandemic is affecting us all, but women have particular trends to consider. Women already face a number of financial challenges, including 28% less super at retirement¹. COVID-19 and the effect of policy responses may widen existing gender financial inequities. With women more likely to work part-time or casual, and to take time out …

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Planning, not panic: managing retirement portfolios through the pandemic

Planning, not panic: managing retirement portfolios through the pandemic Despite the recent wild ride for markets coping with the uncertainty of the coronavirus pandemic, many investors are well-versed in the need to “sit tight”. They understand that moving out of positions in falling markets risks crystallising losses at the bottom and missing out on the recovery. For retirees it’s not so simple, where portfolios are particularly vulnerable to sequencing and behavioural risks that are not …

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FAQs, tips and traps with COVID-19 superannuation relief | AMP Capital

FAQs, tips and traps with COVID-19 superannuation relief The federal government has allowed a raft of temporary superannuation changes in response to COVID-19. There are technical considerations in relation to accessibility and eligibility, and importantly, long-term challenges to think about before going ahead. The human health emergency that is COVID-19 has had a rapid and radical impact on basic societal functioning. As we now well know, it’s also pummelled local share markets, wiping about a …

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Rebooting for retirement

Rebooting for retirement As retirement comes into view, it’s time to imagine a new you for the post-work age. You remember your first day at school, your first job, your first home. And now your final pay check is in sight. That’s quite an achievement. As with other big life events, retirement triggers choices that shape your future. It’s time to take stock and reboot your life. It makes sense to make sure you’re ready …