When can I access my super? Generally, you can access your super when you reach your preservation age and retire, but there could be special circumstances under which you might access your super early. Super is there to help you fund the years after you finish working, so normally to withdraw your super savings, you need to have reached a certain age and retired permanently. However, there are certain situations where you might be eligible …
Earlier this week I sat down with AMP’s Deputy Chief Economist Diana Mousina to hear her reflections as we close the financial year and what’s to come. Lots of people are doing it tough with rising interest rates and inflation, and the economic volatility doesn’t look like it’s going away soon. A really insightful chat with Diana where we touch on household spending, a potential recession in Australia and what the economic environment means for …
What happens to my super when I move overseas? If you’re a permanent Aussie resident, your super will remain subject to the same rules. If you’re a temporary resident, you can apply to have your super paid to you after you leave. You might be leaving the country for a variety of reasons – career, love, new opportunities – or returning home. You’ve probably got a checklist of things to do before you go, so …
Sell in May and go away? The worry list for shares (and the good news! Dr Shane Oliver – Head of Investment Strategy and Chief Economist, AMP Key points – Shares are vulnerable to a pull back in the months ahead reflecting the rising risk of recession on the back of central bank tightening and weak seasonal influences. – Falling inflation should enable central banks, including the RBA, to start easing from later this year or early …
Your 7-point retirement planning checklist AMP’s 2022 Financial Wellness report reveals confidence about retirement is on the slide. Here are some big points to consider to help you start planning. Socialising with mates, enjoying leisurely activities and indulging in the odd trip away are all things that have likely crossed your mind when thinking about how you’ll spend retirement. Beyond that though, have you given much thought to the logistics and what it’ll cost? If …
Your end of financial year super checklist With the end of financial year fast approaching, now is a good time to consider how you can use superannuation to maximise your tax benefits. While certain contributions may be able to reduce your taxable income or see you pay less on investment earnings, there are a range of considerations. These include how much money you have in your super, whether you’re still in the accumulation phase and …
How Australia’s perceptions of wealth are changing in the 2020s For decades, Australians have associated wealth with home ownership. As our country has become more diverse and inclusive, and individual Australians achieve greater freedoms, these ideas are changing. A recent studyi by AMP highlights how our definition of ‘wealthy’ is shifting – and how your bank, super fund and adviser can help you achieve wealth, no matter what that means to you. Home ownership and financial …
9 ways to boost your super savings Check out what you could do while you’re still earning an income and have time on your side. Many of us turn a bit of a blind eye to super. We hope it’ll be enough when the time comes and believe the government’s age pension is available if we fall short. Not everyone is eligible for the age pension, and we may live a less than modest lifestyle …
