Super investment options – what’s right for you?

Super investment options – what’s right for you? When it comes to superannuation, most funds offer a range of investment options. If there’s one thing certain in life it’s change. And generally your attitude towards saving and investing will change as you get older. How your super is invested when starting your first job may not be the right approach when you’re approaching retirement. Luckily you can change your investment options at any time and …

Tax concessions, the work test and getting it right with super | AMP Capital

Tax concessions, the work test and getting it right with super Workers compensation and income protection If you are in an employment arrangement and receiving: workers compensation payments from their employer or insurer, or income protection payments from their employer, insurer or super fund …you may still be gainfully employed and satisfy the work test even though you are not currently undertaking physical work providing any payment has a connection to your employment arrangement. If …

5 days to get your finances in order

5 days to get your finances in order Our New Year challenge Too time poor for resolutions? Try our challenge instead New Year’s resolutions are such a drag, right? Whether it’s fitness, family or finances, the best laid plans rarely last beyond the first week of January. Life has a habit of getting in the way, especially these days with so many demands on your time. We get it. Things got a whole lot more …

Grow your super in the new year

Grow your super in the new year Making an extra voluntary contribution now might improve your lifestyle once you retire. A new year’s as good a time as any to make plans. How about a gift to your future self by maximising your retirement contributions? It’s not as far-fetched or self-absorbed as it might seem. If you think of this as investing in your future self or your loved ones, it could make good sense. …

7 Tips to improve your financial wellness

7 Tips to improve your financial wellness What is financial wellness? How you feel, is your wellness. How you feel about your money is your financial wellness. This can be measured by the financial wellness index, which measures a person’s satisfaction with their current and future financial situation. Some days you might feel confident you can meet your needs within the boundaries of your current income, whereas other days you may feel like you don’t …

Superannuation Changes

Superannuation Changes Learn more about the latest super reforms and what they could mean for you.  Putting Members’ Interests First legislation Putting Members’ Interests First (PMIF) law was passed in September 2019. It aims to prevent certain people being charged for insurance inside their super that they may not need. The PMIF law affects: members with a super balance under $6,000 new members aged under 25 People with a super balance under $6,000 Under the …

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 …

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 …

The ins and outs of the Protecting Your Super package

The ins and outs of the Protecting Your Super package This year, the federal government introduced laws called the Protecting Your Super package. It’s a big deal because it addresses important changes to superannuation that are here to stay. In fact, there’s even been an industry-wide campaign about how it’s time to check your super. The package aims to protect Australians from super balances becoming eroded by fees and/or premiums in accounts that aren’t being …

How to retire early

How to retire early Whether you choose or need early retirement, having a plan can give your money the best chance of lasting the distance. Whether lifestyle preferences or circumstances beyond your control are behind your decision to retire early, you’ll need to make a plan to help your retirement savings last, while still enjoying a few of your favourite comforts in life. Here are some retirement planning tips to consider when thinking about retiring …