What does a comfortable retirement look like? How much money you’ll need will depend on a variety of things. Have you got a plan in mind for when you retire? Is it to travel overseas, hit more balls on the golf course or spend time with family and friends? Whatever your goals, you’ll need to have a plan for how you’re going to get there financially. Comfortable versus a modest retirement Everyone’s idea of how …
Where’s the best place to put your money? When it comes to deciding between super and your home loan there’s a lot to consider. If you’re paying off your home loan but you also understand the value in building up your super, you may find yourself trying to balance your present needs with those you’ll have in your future. So how can you straddle the short and long terms and give yourself the best of …
Are you prepared for the changes to the Age Pension assets test? How the assets test will work in 2017 could increase your Age Pension entitlements, or take some or all of them away. With revisions to the Age Pension assets test just around the corner, it’s important to understand how the changes could impact you, particularly with part-pension thresholds somewhat tighter than initially projected. These thresholds are the value of assets you can own …
Super changes from July 2017 How will they impact you? We cover some of the factors to be aware of given changes have just passed in parliament and are due to become superannuation law. Earlier this year, the Federal Budget announcement included a proposal to introduce changes to super bigger than the likes of anything we’ve seen in almost a decade. Then, in September the government announced some significant adjustments to its proposal. The revised …
Changes to the Age Pension assets test The government’s recent changes to the Age Pension could affect your ability to plan for a comfortable retirement. Recent reports[1] suggest that more than 300,000 Age Pensioners will have at least part of their pension cut, with just under 100,000 of these people losing all Age Pension entitlements, taking effect from January 2017. The Age Pension and assets test explained The Age Pension provides income support and …
Five things to do in retirement Whether you’re in the planning stages or already retired, there’s plenty on offer. Once you retire you might be wondering how you ever had time to work! But, assuming your health is in check, there are some interesting pursuits you might want to consider: Travel to an exotic destination – Join around 700,0001 other Aussie travellers who depart our shores annually. For instance, step outside your comfort zone to trek …
Should I repay my home loan or boost my super? Both options make good financial sense—we look at some pros and cons to help you decide. Retirement may not be as far off as it used to be. With this in mind, are you finding there’s a trade-off between home loan repayments and your retirement nest egg? Adding money to super has its advantages and so does paying off your home loan. So if you’ve …
7 tips on how to retire early Are you dreaming about early retirement, but unsure how to go about it? You might be surprised to learn that Aussies are retiring earlier, with 25% of men retiring before age 55 and 50% retiring between 55 to 64 years. For women, the figures are higher, with 55% stopping work before they reach 55 and 36% retiring between the ages of 55 and 64 years1. But while these …
Government support in retirement What is the Age Pension? The purpose of the Age Pension is to make sure you have enough income in retirement. It is a fortnightly payment made by the government to help you meet the cost of living, if your retirement savings are below a certain level…. Read More>>> Download the free PDF file
Maintaining your lifestyle What is retirement income? During your working life you receive regular income in the form of a salary or business income. In retirement, this regular income stops, so you need to draw on your savings to meet your lifestyle costs. You set up your savings so you still receive regular payments, just like a salary. This is called a ‘retirement income stream’. The type of income stream you can start at retirement …
