Innovative income streams untangled [CPD Quiz] | Money & Life

On July 1, 2019, innovative superannuation income streams became a viable offering for product providers, financial planners and clients. However, the rules governing these new income streams, also referred to as Comprehensive Income Products for Retirement (CIPRs), are complex. On July 1, 2019, innovative superannuation income streams became a viable offering for product providers, financial planners and clients. Such income streams, also referred to as Comprehensive Income Products for Retirement (CIPRs), were given a significant …

A guide to retirement in Australia | Money & Life

A guide to retirement in Australia | Money & Life Many of us think of retirement as a given – you work hard for your middle years, and then you get to bow out of the workforce and enjoy a well-deserved rest, take those bucket-list trips and enjoy the best life has to offer. After all, you’ve made your contribution and now you’ve earned the right to kick back. But unfortunately, retirement isn’t that simple …

Life After Work

Life After Work Retirement is instilling a new level of confidence, with almost two thirds of Australians aged 50 and over saying they are living their best years.i In this video we demonstrate this with some real-life stories. Three retirees talk about what their lives are like after work, including their fears, hopes and dreams for the future. “Nothing like what I dreamt it’d be like – it’s so much better.” Retirees reveal the magic of …

3 factors affecting Retirement income

3 factors affecting Retirement income High life expectancy and low interest rates may make it harder for some retirees to live long and prosper.  Here we look at three elements from an AMP Capital Investors reporti that affect a post-work reasonable income – interest rates, inflation, and longevity. 1. Interest rates – high valuations, low returns Historically low interest rates have driven valuations of defensive assets such as cash and fixed interest to unprecedented highs. Generally, …

Staying (Financially) well as the years go by

Staying (Financially) well as the years go by Our financial priorities tend to change as we move through life The good news from AMP’s 2018 Financial Wellness Indexi is that only 7% of Australian retirees aged 65 or over report being stressed about money. So if you’re feeling the pinch earlier in life there is light at the end of the tunnel.  Let’s take a closer look at how your financial wellness is likely to change …

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 …

How Much Superannuation is enough?

How Much Superannuation is enough? When you plan for retirement you will probably develop a financial plan intended to increase the amount you have for retirement. If you are on an average wage of about $85,000 p.a. before tax, you’ll need to save about 15 to 20 times that amount for retirement – about $1.3 to $1.7 million at today’s prices. You’re probably nowhere near that. There are other ways of estimating what you may …

Dealing with being asset rich and cash poor

Dealing with being asset rich and cash poor Reverse mortgages could be one way to help with living expenses, but they may also erode any equity you have in your home over time. Given longer life expectancies, the rising cost of living and the property boom, more and more retirees find themselves asset rich and cash poor. One option is to downsize to a cheaper home, but this often has major disadvantages. If they are …

Can I go back to work if I’ve accessed my Super?

Can I go back to work if I’ve accessed my Super? When you access your super at retirement your super fund may ask you to sign a declaration stating that you intend to never be employed again. But there may be compelling reasons why someone would subsequently return to work. According to the Australian Bureau of Statistics (ABS) the most common reasons retirees return to full or part-time employment are financial necessity and boredom.i Regardless of …