Taking an active interest in your super today can set you up for the lifestyle you want in the future. Retirement might seem a long way off, but when it comes to your super, time is one thing you can use to your advantage. The small things you do today can make a big difference to your future self. Get your super working over time. Visit moneysmart.gov.au to find out more. Original Author: Produced by Moneysmart …
6 ways you can generate an income in retirement The time has come. You’ve worked hard over the years contributing to your superannuation to build up your retirement savings. Now you need to think about the best way to convert your savings into an income stream that replaces your regular pay cheque. Here are six ways you could generate a steady and reliable source of income in retirement: An account-based pension allows you to access …
9 money mistakes people make in retirement How to keep your finances on track once you leave the workforce When you’ve worked hard all your life to build up your nest egg, the last thing you want to do is fritter it away too quickly. In this article, we look at the common money mistakes people in retirement make, and how you can do your best to avoid them. 1. Not taking control of your …
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 …
AMP, for whatever wealthy you want Whatever ‘wealthy’ means to you, AMP’s banking, super and retirement expertise can help you get there. Find out how we can help at amp.com.au Original Author: Produced by AMP and published on 11/04/2023 Source
Can you use your pension to retire debt free? Perhaps you’re considering options for how to reduce your debt before retiring. Well, one option may be to use your pension account, but there are some important things you should consider first. It’s no secret that Australia, like many countries, has an ageing population. According to the Australian Bureau of Statistics, 16.3% of us are over the age of 651, but that number is expected to grow …
Should you use property to fund your retirement? While property may seem like a good way to build – and hold – wealth, is it actually possible to use it as a way to fund your retirement? Superannuation, shares, property, cash, other investments… a dizzying number of options are available when it comes to living comfortably through retirement. Financial advisers often promote a diversified portfolio to reduce the risk of concentrating ‘all eggs in one …
Four key risks to consider for a comfortable retirement Sometimes saving for retirement is the easy part, it’s how to manage risks when one approaches or enters retirement that can be tricky. There are four key risks in retirement – sequencing of returns, lower-than-expected returns, longevity risk and knowing how much a retiree can spend without falling short. There are other critical issues such as living arrangements and the rising cost of healthcare, but the …
Supporting your kids, without sacrificing your own retirement With careful planning, you can give a helping hand to your adult children financially, while still enjoying a comfortable retirement. In the past, wealth was often passed on through an inheritance. But with our longer lifespans, and the higher cost of living (especially housing), the desire to help our kids while we’re alive and well is increasing. If your children are young, you may have twenty or …
