Tag: Account
Term deposit vs savings account: what’s the difference?
Term deposit vs savings account: what’s the difference? Term deposits offer certainty and savings accounts offer flexibility. Here are some other common features and benefits of each. Putting your money into a savings account, or a term deposit, are two common methods of saving. Working out whether either of these options are right for you depends on your personal and financial circumstances, as well as your savings goals. To look at this simply, a separate …
What are super contributions?
What are super contributions? A super contribution is money that’s deposited into your super account, either as an ongoing payment or as a one-off. Usually made by you or your employer. For more information on super contributions, please go to https://www.amp.com.au/superannuation/super-contributions/guide Get more insights about growing your super and investing your money: https://www.amp.com.au/insights/grow-my-wealth Subscribe to our AMP YouTube channel for the latest information and smart tips on money, investing and living your best retirement. Subscribe …
Transfer balance cap increase
Transfer balance cap set to increase to $1.7 million The amount of super savings that can be transferred into a retirement pension (whether you have one or more than one) will increase from $1.6 million to $1.7 million on 1 July this year, but not for everyone. Currently you can transfer a maximum of $1.6 million from your super savings into a retirement pension (or pensions) to generate an income after you’ve finished working. However, from 1 …
The rising importance of asset allocation
The rising importance of asset allocation Michael Fazzini, Senior Account Manager, explains the importance of selecting the right asset classes for your portfolio.